4.0 PROPOSED FEES We propose to provide this scope of professional Interior Design services for a fixed fee of $96,000, plus a not to exceed allowance of $5,000 for reimbursable expenses. An initial, non-refundable deposit payment of $15,000 is to be paid upon execution of this agreement and commencement of the Conceptual/Schematic Design phase. For your information, the balance of our proposed fee is due and payable based on the following phased payment schedule: Phase Fee Payment Due Date: Conceptual/Schematic Design: $20,000 $15,000 due upon execution (6 permanent / 4 temporary) Design Development: $20,000 Construction Documentation: $5,000 Construction Administration: $5,000 Total Project Design Fees: $50,000 We will invoice monthly; payments are due and payable upon receipt of invoice. Amounts unpaid thirty (30) days after the invoice date shall b at a rate of 2.00% monthly. Failure of the Owner to make payments to ' in accords se terms shall be considered substantial nonperformance and is sufficient cause for to either suspend or terminate services until such time as remuneration is forthcoming. Reimbursable expenses:. All expenses incurred in connection with the Project including, but not limited to, reproduction and copies; facsimile, postage and overnight delivery; travel costs for airfare, train, hotel and meals; and finish/material samples and sample mock-ups will be reimbursed by the Owner. 5.0 ADDITIONAL SERVICES Additional Services, if required, shall be provided subject to a written addendum to the contract, on a time and material basis per our standard hourly billing rates below or as a fixed fee as requested by the Owner. A. Hourly rates as follows: Principal: $125 per hour Project Designers: $80 per hour CAD Draftsman and Staff/Jr. Designers: $65 per hour Admin Staff: $45 per hour B. Other methods of compensation (fixed fee, % of const. cost, etc.). 6.0 GENERAL CONDITIONS Direction to proceed (wr