Construction Budget. The total amount indicated by the District for the Project plus all other costs, including design, construction, administration, financing, and all other costs.
Construction Budget. Construction Budget.
Construction Budget. If a construction budget for this Project is indicated in an exhibit to this Contract, Engineer will use its best efforts to design the Project so that it is likely that the Project may be constructed within that budget. At any point Engineer becomes reasonably aware that the construction budget will likely be exceeded, Engineer will notify City of its awareness of that likelihood.
Construction Budget. The Construction Administrator shall monitor and update the construction budget on a weekly basis, and submit a monthly report to the DAS identifying activity variances between actual, budget, and projected costs. The report shall include a trend analysis for the project and indicate the balance to date of the construction contingency for the project.
Construction Budget. Upon approval by Landlord and Tenant of the Final Plans, Landlord shall instruct Contractor to obtain competitive bids for the Tenant Improvements from at least three (3) qualified subcontractors for each of the major subtrades (excluding the mechanical and electrical trades, which shall be on a design/build basis, unless Landlord elects to competitively bid these trades) and to submit the same to Landlord and Tenant for their review and approval. Upon selection of the subcontractors and approval of the bids, Contractor shall prepare a cost estimate for the Tenant Improvements described in such Final Plans, based upon the bids submitted by the subcontractors selected. Contractor shall submit such cost estimate to Landlord and Tenant for their review and approval. Within five (5) days after their receipt of the cost estimate, Landlord and Tenant shall each either approve or disapprove the cost estimate, which approval shall not be unreasonably withheld. Tenant's failure to approve or disapprove the cost estimate within such 5-day period shall constitute Grounds for the assertion of a Tenant Delay. Landlord or Tenant may each approve or reject such cost estimate in their reasonable sole discretion. If either Landlord or Tenant rejects such cost estimate, Landlord shall resolicit bids based on such Final Plans, in accordance with the procedures specified above. Following any resolicitation of bids by Landlord pursuant to this Paraxxxxx 0, Xxxxxxxx xxx Tenant shall again follow the procedures set forth in this Paragraph 3 with respect to the submission and reasonable approval of the cost estimate from Contractor; provided, however that the period between Tenant's disapproval of the first revised cost estimate and the eventual mutual approval of a cost estimate shall constitute a Tenant Delay.
Construction Budget. The Contractor shall accomplish the design Services required under this Agreement so as to permit the AOC (i) to undertake a procurement for construction services using its procedures for the CM at Risk project delivery method, and (ii) to assist the AOC in reaching agreement with the CM at Risk in determining the Guaranteed Maximum Price (GMAX) necessary to manage construction of the Project and to construct the Project, with the goal of not exceeding the Construction Budget available to the AOC that is set forth below. The GMAX is calculated after the Project has been bid by the CM at Risk in the Subcontractor Bid Package Stage at the end of the Working Drawings Phase. If upon completion of the initial or any subsequent Subcontractor Bid Package Stage of the AOC’s Agreement with the CM at Risk the CM at Risk and the AOC determine that the expected GMAX exceed the Construction Budget, the AOC may elect to abandon the project, reduce the scope of work to fit within the Construction Budget, provide additional funds as required to construct the full scope of work, or require Contractor and the CM at Risk to provide such Services necessary to make changes to the Construction Documents suitable to the AOC so that the project may be rebid by the CM at Risk.. The AOC may elect to have Contractor provide the Services necessary to make said changes if the initial or a subsequent GMAX, when calculated, exceeds the Construction Budget by more than 10%. As specified above, and at the AOC’s request, the Contractor shall, at no additional cost to the AOC, participate in a maximum of two additional iterations of said changes to the Construction Documents and in value analysis, to assist the AOC and the CM at Risk in reaching agreement on the changes to the Construction Documents necessary to bring the GMAX in conformance with the Construction Budget The preliminary Construction Budget established by the AOC is: $____________ as of ______, 20__. Based on the information developed during the Study Phase, the AOC, in consultation with the Contractor, will confirm and fix the Construction Budget before authorization of the Preliminary Plan Phase. Schedule Of Work The Contractor agrees to perform the Services according to the following schedule. Firm start and completion dates will be inserted for each phase as this Agreement is amended to include subsequent phases. Dates include AOC review time and approvals. Pre-Schematic / Study Phase [Optional: (NIC)]. Start date: ______...