The New Bern Housing Authority's acceptance of proposal will result in a firm fixed price contract. The term of this contract shall be two (2) years from date of award. This contract may be renewed for an additional one-year period by mutual consent of both parties up to a total contract maximum term of three (3) years. The contract will be subject to termination upon one hundred twenty (120) days advance notice. If Proposer does not execute a contract within thirty (30) days after such award, NBHA may give notice to such Proposer of intent to award the contract to the next ranked Proposer or to call for new proposals.