Construction Compensation. If or when Princeton University exercises its option to proceed with the performance of the Work under the Construction Phase, by acceptance and execution of, in its sole discretion, either a GMP Amendment or Fixed Price Amendment, following presentations of GMP Proposals and one or more Fixed Price Proposals as required by this Contract, Design Builder shall be compensated for Design Builder’s performance of all the Work for the full construction and completion of the Project and all obligations under this Contract as provided in the executed GMP Amendment or Fixed Price Amendment, in the form attached as either Part VI of the Contract (if a GMP Amendment) or Part VII of the Contract (if a Fixed Price Amendment).
Construction Compensation. If Construction Improvements are to be made to the Project, CADC shall be entitled to receive from the Venture a development fee in a sum equal to seven and one-half percent (7.5%) of hard costs up to One Million Dollars ($1,000,000.00), and five percent (5%) thereafter to be paid in accordance with the terms and provisions of the D&C Budget. Except as provided in the previous sentence or as may be otherwise approved by the Venturers, no fees or other compensation will be paid by the Venture to either Venturer for the services of such Venturer; provided, however, that the Venturers shall each be entitled to reimbursement in full for all reasonable out-of-pocket costs and expenses incurred relative to the business of the Venture; and provided further, that the Venturers' managerial salaries, benefits, general office overhead and similar expenses shall not be deemed expenses of the Venture.
Construction Compensation. Once the Construction Improvements have commenced as contemplated hereunder, Royal Palm shall be entitled to receive from the Venture a development fee in a sum equal to seven and one-half percent (7.5%) of hard costs up to One Million Dollars ($1,000,000.00), and five percent (5%) thereafter to be paid in accordance with the terms and provisions of the D&C Budget. Except as provided in the previous sentence or as may be otherwise approved by the Venturers, no fees or other compensation will be paid by the Venture to either Venturer for the services of such Venturer; provided, however, that the Venturers shall each be entitled to reimbursement in full for all reasonable out-of-pocket costs and expenses incurred relative to the business of the Venture; and provided further, that the Venturers' managerial salaries, benefits, general office overhead and similar expenses shall not be deemed expenses of the Venture.
Construction Compensation. Contractor’s compensation for the Construction Services shall be as selected by checkmark below and shall be consistent with the Schedule of Values attached hereto as Exhibit C: Stipulated Sum: Total Amount $ Guaranteed Maximum Price: Total Amount $ Includes Construction Fee Amount of $ , which is based on Percentage of the Cost of the Work The General Conditions Items (as defined in the Agreement) are set forth on Exhibit D attached hereto. Time and Materials (based on the rates set forth in the Rate Schedule attached as Exhibit B) Estimated Amount: $ Not to Exceed: $ If any of the above are greater than $3M, the Prompt Pay Act and Retainage Act shall apply to the Project.
