AG 2009 07 20 - Laserfiche WebLink

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Conditions to be reimbursed and other items that the parties determine shall comprise the Guaranteed Maximum Price. 5. The Date of Substantial Completion of the Satellite Office Complex (Phase I). E. Contingency Amount -The Guaranteed Maximum Price shall include a construction Contingency amount of four (4) percent of the Cost of the Work. The Contingency shall not be used for scope changes or owner directed changes; but shall be used by the CM for expenses not reasonably contemplated at the time the Guaranteed Maximum Price was provided. Although the Construction Manager at Risk shall not be entitled to any fee on any portion of the construction Contingency, in the event that the conditions which underlie the use of the construction Contingency increase the general cost expenses, and subject to the limitations set forth in Article 9C, such General Conditions cost reimbursement shall be paid from the construction Contingency. The construction Contingency shall be managed by the Construction Manager at Risk, who shall notify the Architect when so used. To the extent that any portion of the construction Contingency is not used, such unused sums belong to the owner. F. Profit on Labor and Material - The CM shall not be entitled to a mark up on any of the amounts to be paid to Subcontractors, laborers, materialmen, vendors, equipment providers or the like. G. Acceptance of Guaranteed Maximum Price Proposal - At such time as the CM, the Owner and the Architect have determined the Guaranteed Maximum Price for the Site Work an Amendment to the Contract Documents shall be executed by the Owner and CM to reflect the amount of the Guaranteed Maximum Price for such component of construction and for the Satellite Office Complex (Phase I). H. Risk Upon Construction Manager -The CM guarantees the completion of the Project at the GMP, subject to additions by changes in the Work as provided in the Contract Documents. In the event that the cost of the Work exceeds the Guaranteed Maximum Price, the CM shall pay such additional sums as are reasonably necessary to complete the Project, and to complete it within the Contract completion date. In the event that the cost to complete is less than the Guaranteed Maximum Price, then and in such event such sums shall be credited or paid to the Owner. I. Revisions of Drawings -The Owner shall authorize and cause the Architect to revise the Drawings and Specifications in a timely manner to the extent necessary to reflect the agreed-upon assumptions and clarifications contained in the acceptance by Owner of the Guaranteed Maximum Price. Such revised Drawings and Specifications shall be furnished to the CM in accordance with schedules agreed to by the Owner, Architect and CM. The CM shall promptly notify the Architect and Owner if any such revised Drawings and Specifications are inconsistent with the agreed upon assumptions and clarifications contained in the Guaranteed Maximum Price. J. Taxes Related to Guaranteed Maximum Price - 12 F-4 Attachment number 1 Page 158 of 627