Common use of CONTRACT TERMINATION CLAUSE Clause in Contracts

CONTRACT TERMINATION CLAUSE. The parties agree that Rio Grande City reserves the right to terminate this contract in whole or in part, at any time, if in the opinion of Rio Grande City, the successful contractor’s performance is not acceptable, if the City is being repeatedly overcharged, improperly charged, or in the event that no funds are appropriated for this specific purpose, or if the City wishes, without cause, to discontinue/cancel this contract. If the City determines at the City’s sole discretion, that termination is in the City’s best interests, the City shall give written notice to the vendor/bidder/contractor of its intention to terminate, and the contract shall terminate after the expiration of thirty (30) days from the date of the written notice. After the expiration of the thirty (30) days and the termination of this contract, the City shall be relieved of any and all obligations and/or responsibilities arising from this contract including but not limited to the payment of any damages and/or penalties. Contractor shall be paid for products and/or services rendered and accepted in accordance with the contract for work performed up to the time of termination. In the event that funds are not made available from one budget year to the next, this contract will automatically become null and void without any penalty to Rio Grande City.