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claim within one (1) year from the effective date of termination, the City shall pay the Contractor, <br />an amount derived in accordance with subparagraph (c) below. <br />(b) The City and the Contractor may agree to the compensation, if any, due to the <br />Contractor hereunder. <br />(c) Absent agreement to the amount due to the Contractor, the City shall pay the <br />Contractor the following amounts: <br />Contract prices for labor, materials, equipment and other services accepted under <br />this Contract; <br />ii. Reasonable costs incurred in preparing to perform and in performing the <br />terminated portion of the Work, and in terminating the Contractor's performance, <br />plus a fair and reasonable allowance for overhead in the amount of seven percent <br />(7%) of the Contractor's direct costs, and a reasonable allowance for profit in the <br />amount of five percent (5%) of the Contractor's direct costs (such profit shall not <br />include anticipated profit or consequential damages); and profit thereon (such <br />profit shall not include anticipated profit or consequential damages); provided <br />however, that if it appears that the Contractor would have not profited or would <br />have sustained a loss if the entire Contract would have been completed, no profit <br />shall be allowed or included and the amount of compensation shall be reduced to <br />reflect the anticipated rate of loss, if any; <br />iii. Reasonable costs of settling and paying claims arising out of the termination of <br />subcontracts or orders pursuant to Subparagraph 12.2.1.2 of this Paragraph. These <br />costs shall not include amounts paid in accordance with other provisions hereof. <br />The total sum to be paid the Contractor under this Subparagraph 12.2.1 shall not exceed the total <br />Contract Price, as properly adjusted, reduced by the amount of payments otherwise made, and shall <br />in no event include duplication of payment. <br />12.2.2 For Cause <br />12.2.2.1. If the Contractor refuses or fails to prosecute the Work in a timely manner, supply <br />enough properly skilled workers, administrative, managerial and supervisory personnel or proper <br />equipment or materials, or if it fails to make prompt payment to Subcontractors or for materials or <br />labor, or persistently disregards laws, ordinances, rules, regulations or orders of any public authority <br />having jurisdiction, or otherwise is guilty of a substantial violation of a material provision of this <br />Contract, then the City may by written notice to the Contractor, without prejudice to any other right <br />or remedy, terminate the employment of the Contractor and take possession of the site and of all <br />materials, equipment, too Is, construction equipment and machinery thereon owned by the Contractor <br />and may finish the Work by whatever methods it may deem expedient. In such case, the Contractor <br />shall not be entitled to receive any further payment until the Work is finished. <br />12.2.2.2. If the unpaid balance of the Contract Price exceeds the cost of finishing the work, <br />including compensation for the Architect's additional services and expenses made necessary thereby, <br />such excess shall be paid to the Contractor. If such costs exceed the unpaid balance, the Contractor <br />MBR CONSTRUCTION, INC. Page 28 of 41 <br />177 <br />347 <br />