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<br />according to the terms of this contract or within 30 days of the invoice date. whichever <br />date is later. <br /> <br />In the event that payment is not made in full according to the specified terms, a <br />service charge will be added to the previous balance after deducting all payments and <br />credits. For any payment considered past due, the library agrees to pay interest at <br />1.5% per month (effective annual rate of 18%) on the unpaid balance or the highest <br />rate permitted by law, whichever is less. <br /> <br />If failure to pay according to the terms of this agreement causes this account to be <br />assigned for collection, or causes legal action to be taken, the library agrees to pay <br />all costs of collection incurred by Gaylord, including court costs and attorney fees. <br /> <br />Credit terms and limit may be canceled or changed by Gaylord at any time with <br />thirty (30) days notice. The library authorizes Gaylord to contact credit references, <br />inquire as to credit information, and receive any confidential information relevant to <br />approving credit. <br /> <br />If for any reason, including but not limited to delays in site preparation, the library asks <br />to postpone installation after a date for the commencement of installation has been set, <br />payments that are due upon installation will become due ten (10) days after the originally <br />scheduled commencement of installation. <br /> <br />In the event the Installation Date is other than the first day of the month, the amount for <br />the flrst and last month shall be pro-rated. Fees for conversion keypunching and/or <br />reformatting as listed in Schedule B shall be payable upon completion of work. <br />Maintenance charges are subject to change effective upon three (3) months' 'Written notice <br />to the library. If the charge for any service provided under this agreement is increased by <br />Gaylord, the library may, with two (2) months' prior written notice, terminate this <br />agreement upon the effective date of such increase. Otherwise the new charges will <br />become effective upon the date specified in the notice. <br /> <br />Any other amounts shall be due and payable upon receipt by the library of the materials, <br />equipment, services, or use of software involved. <br /> <br />8. Site Preparation. It is understood and agreed that the aforesaid fees do not include any site <br />preparation or installation costs except as described in Schedule F, Installation and <br />Trainin 2. <br /> <br />06/03/94 <br /> <br />Paris Public Library Contract P 4 of 22 <br />