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.2 a final Certificate for Payment has been issued by the Architect. S 5,2.2 The Owner's final payment to the Contractor shall be made no later than 30 days after the issuance of the Architect's final Certificate for Payment, or as follows: $ S.3lnterest Payments due and unpaid under the Contract shall bear interest from the date payment is due at the rate stated below, or in the absence thereof, at the legal rate prevailing from time to time at the place where the Project is located. (Insert rate of interest agreed upon, if any.) % ARTICLE 6 DISPUTE RESOLUTION $ 6.1 lnitial Decision Maker The Architect will serve as the Initial Decision Maker pursuant to Article l5 of AIA Document A20l -2017, unless the parties appoint below another individual, not a party to this Agreement, to serve as the Initial Decision Maker. (If the parties mutually agree, insert the name, address and other contact information of the Initial Decision Maker, if other than the Architect.) $ 6.2 Binding Dispute Resolution For any Claim subject to, but not resolved by, mediation pursuant to Article 15 of AIA Document A20l-2017, the method of binding dispute resolution shall be as follows: (Check the appropriate box.) I X 1 Arbitration pursuant to Section 15.4 of AIA Document A20l-2017 t ] Litigation in a court of competent jurisdiction t 1 Other (Specify) If the Owner and Contractor do not select a method of binding dispute resolution, or do not subsequently agree in writing to a binding dispute resolution method other than litigation, Claims will be resolved by litigation in a court of competent jurisdiction. ARTICLE 7 TERMINATION OR SUSPENSION $ 7.1 The Contract may be terminated by the Owner or the Contractor as provided in Article 14 of AIA Document A2012017. S 7.1.1 If the Contract is terminated for the Owner's convenience in accordance with Article 14 of AIA Document A2Ol-2017, then the Owner shall pay the Contractor a termination fee as follows: (Insert the amount of, or methodfor determining, thefee, if any, paltable to the Contractorfollowing a terminationfor the Owner's convenience.) I None $ 7.2 The Work may be suspended by the Owner as provided in Article 14 of AIA Document A20l-2011 AIA DocumentAl}l -2017. Copyright@ 1915,1918, 1925,1937,1951, 1958,1961, 1963, 1967,1974,1977,1987,1991,1997,2007 and 2017. All rights reserved. "The American lnstitute of Architects," "American lnstitute of Architects," "AlA," the AIA Logo, and "AlA Contract Documents" are trademarks of The American lnstitute of Architects. This document was produced at 12:04:12 E-l on 0311412025 under Order No .3104240Q97 which expires on 06/30/2025, is not for resale, is licensed for one-time use only, and may only be used in accordance with the AIA Contract Documents@ Terms of Service. To report copyright violations, e-mail docinfo@aiacontracts.com. user Notes: (716022339) 6lnit.