16.12.1 Chip Select Wait States
The SMC always inserts an idle cycle between two transfers on separate chip selects. This idle cycle ensures that there is no bus contention between the deactivation of one device and the activation of the next one.
During chip select wait state, all control lines are turned inactive: NBS0 to NBS1, NWR0 to NWR1, NCS[0..3], and NRD lines. They are all set to 1.
The figure below illustrates a chip select wait state between access on Chip Select 0 and Chip Select 2.