Section 4. Default in Payment. The failure of a Producer to pay contributions timely shall constitute a default by that Producer.

A Producer in default shall be required to pay interest from the date set forth in Section 3, above, until receipt by the Fund of the delinquent contributions. The Producer shall also be required to pay liquidated damages and audit fees, and all expenses of collection, including legal fees incurred by the Trustees. The Trustees shall by resolution periodically establish the rate of interest and amount of liquidated damages, as well as the circumstances under which interest, liquidated damages, audit fees, and expenses of collection may be waived.

The Trustees may take any action necessary to enforce this section. In addition to all other rights, if such default exceeds twenty-one (21) days the Trustees in their discretion by a resolution duly adopted may terminate the Producer as a party under this Plan. No terminated Producer shall be eligible to again become a party unless all past obligations to the Fund are paid.