Termination by Owner. Owner may also terminate this Agreement at any time before Contractor begins the Work and notifies Owner in writing of such commencement if (1) Owner sells the property on which the Work is being performed or (2) the economic climate does not warrant proceeding with the project of which the Work is a part. In such circumstance, Contractor shall be entitled to receive that portion of the Contract Price earned by Contractor for Work performed to the satisfaction of Owner less any payments made before the date this Agreement is terminated. Contractor shall not be entitled to any additional compensation or damages as a result of termination of this Agreement pursuant to this Paragraph 12(c).
Appears in 26 contracts
Samples: Construction Management Services Agreement (Steadfast Apartment REIT III, Inc.), Construction Management Services Agreement (Steadfast Apartment REIT III, Inc.), Agreement for Contractor Services (Steadfast Apartment REIT, Inc.)
