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(1) The Contractor shall submit to NIl~fDC monthly statements detailing services and expenses in accordance with the foIlowing rate schedule: Principal $130.00/hr Senior PM $ 75.00/hr Project Manager $ 6~.00/hr Superintendent ~ 6~.00/hr Project Engineer $ ~~.00/hr Estimator $ 50.00/hr ControIler $ 75.00/hr Office Staff $ 35.00/hr (2) In the event the Owner does not sign a final construction contcact with Contractor, the Owner a~-ees to pay Contractor the amounts due, not to exceed $70,000, for pre-construction services rendered between June l, and December 31, 1997. (3) If the proposed GMP, required by this agreement, is acceptable to the owner and included in a final construction contract retaining Contractor as the general contractor, the amount due under paragraph 2 above, shall be waived. It is understood that the GNII' includes building construction costs and Contractor's fee cr 4.75% which includes preconstruction services) b. In the event the GMP is not acceptable to the owner, the Owner shall negotiate first with Contractor before soIiciting public bids for a replacement Contractor. For the purposes of this paragraph, a comparison of the Contractor's GMP shall not include preconstruction service fees. If the parties cannot reach,mutually acceptable terms, Owner may proceed to solicit other general contractors after ten (10) days' prior written notice to Contractor. During the ten (10) day notice period, Contractor may submit a final offer, which Owner shall accept or reject before proeeeding to solicit other general contractors. 5. The project is funded in part by a grant from the FTA. It is understood that the final construction agreement is subject to FTA contract requirements imposed upon Owner, and will be incorporated by this reference in the final contract, if executed. In consideration of the above recitals, the terms and covenants of this agreement, and other valuable consideration, the receipt of which is acknowledged, the parties agree as follows: 6. Contractor agrees to provide pre-construction services as a consulting general contractor with that standard of care, skill and diligence normally provided by a professional individual in the performance of similar services. The work to be performed includes the followin~: 2