The RSI Reserve Study report will be prepared in a manner consistent with those levels of care and skill
typical to those exercised by other members of the Reserve Study profession. RSI issues no warranties, express or
implied on continued performance of both those examinedcomponents as well as those that were not examined.
This agreement may be terminated by either Client or RSI upon seven (7) days written notice. In the event of
termination, the compensation due will be an amount equal to the unpaid billings plus a sum for the work performed but unbilled.
If the preparation of a Reserve Study is in process at the time of termination, compensation shall be based upon the work
completed on a time and material basis at the rates specified in the standard retainer agreement.
Any dispute concerning the interpretation of this agreement or arising from the reserve study,
except one for payment of fees, shall be resolved informally between the parties or by arbitration conducted in
with the rules of the American Arbitration Association, except that the parties shall select an arbitrator who
is familiar with
the reserve study profession. If the parties are unable to mutually select an arbitrator, the parties shall
request and require
the American Arbitration Association to select an arbitrator. Such selection shall be binding on the parties.
2. ATTORNEY'S FEES
The prevailing party in any dispute arising out of this agreement, the reserve study or the
report thereon, shall be awarded all attorneys’ fees, arbitrator and other costs.
RSI, its principals, agents, and employees shall have a limitation on liability as set forth below. This
limitation applies to anyone who claims to
have been damaged, or to have had to pay expenses, due to any alleged omission or mistake in the Reserve
Study. This limitation is binding on
the Client, members of Client’s association, or other similar groups, and on all spouses, heirs, principals,
agents, designees, assigns thereof, and
any other person or entity who may claim through the Client. Client acknowledges and agrees that it will
accept a refund of the fees paid under
this agreement as full settlement of any and all claims that may arise from this Reserve Study or RSI's
correction thereof. Client assumes the risk
of all loss greater than the fee paid for the Reserve Study.
Client understands that a Reserve Study without a limit on liability to the fees paid is available for an
additional fee. Please initial and remit the
appropriate fees only if unlimited liability is desired:
request a Reserve Study without such limitations for an
fee of 100% of the fees stated in Section II above - with a $5,000 minimum.