Common use of ESTABLISHMENT OF GUARANTEED MAXIMUM PRICE “GMP Clause in Contracts

ESTABLISHMENT OF GUARANTEED MAXIMUM PRICE “GMP. A. The preliminary "Estimated GMP" for the Project shall be $ ($ ). The Estimated GMP shall be subject to modification when the Construction Documents are finalized and approved by the Division of the State Architect ("Final GMP"). The Estimated GMP is based upon plans and specifications existing and reviewed by the Contractor at the time this Construction Services Agreement is entered into as more fully described and referenced in the Scope of Work set forth in Exhibit "A." Sublease Payments and/or Sublease Prepayments by the District pursuant to the Sublease and Section 26 hereof shall be commensurate with the GMP. The Final GMP shall be subject to adjustments for Extra Work/Modifications in accordance with the provisions of Section 9 and adjustments for reductions in the Scope of Work pursuant to the provisions of Section 4(B), below. The Estimated GMP includes, and the Final GMP shall include, the cost of all labor, materials, equipment, general conditions, overhead, profit and Contractor contingency in an amount to be negotiated upon the finalization of the GMP.

ESTABLISHMENT OF GUARANTEED MAXIMUM PRICE “GMP. A. The preliminary "Estimated GMP" for the Project shall be $ ($ )$[INSERT AMOUNT OF ESTIMATED GMP]. The Estimated GMP shall be subject to modification when the Construction Documents are finalized and approved by the Division of the State Architect ("Final GMP"). The Estimated GMP is based upon plans and specifications existing and reviewed by the Contractor at the time this Construction Services Agreement is entered into as more fully described and referenced in the Scope of Work set forth in Exhibit "A.A," Sublease Payments and/or Sublease Prepayments to be made by the District pursuant to the Sublease and Section 26 hereof shall be commensurate with the GMP. The Final GMP shall be subject to adjustments for Extra Work/Modifications in accordance with the provisions of Section 9 and adjustments for reductions in the Scope of Work pursuant to the provisions of Section 4(B), below. The Estimated GMP includes, and the Final GMP shall include, the cost of all labor, materials, equipment, general conditions, overhead, profit profit, District Contingency and Contractor contingency in an amount to be negotiated upon the finalization of the GMP.

ESTABLISHMENT OF GUARANTEED MAXIMUM PRICE “GMP. A. The preliminary "Estimated GMP" for the Project shall be $ $______________________ ($ $________________________). The Estimated GMP shall be subject to modification when the Construction Documents are finalized and approved by the Division of the State Architect ("Final GMP"). The Estimated GMP is based upon plans and specifications existing and reviewed by the Contractor at the time this Construction Services Agreement is entered into as more fully described and referenced in the Scope of Work set forth in Exhibit "A." Sublease Payments and/or Sublease Prepayments by the District pursuant to the Sublease and Section 26 hereof shall be commensurate with the GMP. The Final GMP shall be subject to adjustments for Extra Work/Modifications in accordance with the provisions of Section 9 and adjustments for reductions in the Scope of Work pursuant to the provisions of Section 4(B), below. The Estimated GMP includes, and the Final GMP shall include, the cost of all labor, materials, equipment, general conditions, overhead, profit and Contractor contingency in an amount to be negotiated upon the finalization of the GMP.

ESTABLISHMENT OF GUARANTEED MAXIMUM PRICE “GMP. A. The preliminary "Estimated GMP" for the Project shall be $ ($ ). The Estimated GMP shall be subject to modification when the Construction Documents are finalized and approved by the Division of the State Architect ("Final GMP"). The Estimated GMP is based upon plans and specifications existing and reviewed by the Contractor at the time this Construction Services Agreement is entered into as more fully described and referenced in the Scope of Work set forth in Exhibit "A." Sublease Payments and/or Sublease Prepayments by the District pursuant to the Sublease and Section 26 hereof shall be commensurate with the GMP. The Final GMP shall be subject to adjustments for Extra Work/Modifications in accordance with the provisions of Section 9 and adjustments for reductions in the Scope of Work pursuant to the provisions of Section 4(B), below. The Estimated GMP includes, and the Final GMP shall include, the cost of all labor, materials, equipment, general conditions, overhead, profit and Contractor contingency in an amount to be negotiated upon the finalization of the GMP.

ESTABLISHMENT OF GUARANTEED MAXIMUM PRICE “GMP. A. The preliminary "Estimated GMP" for the Project shall be $ ($ ). The Estimated GMP shall be subject to modification when the Construction Documents are finalized and approved by the Division of the State Architect ("Final GMP"). The Estimated GMP is based upon plans and specifications existing and reviewed by the Contractor at the time this Construction Services Agreement is entered into as more fully described and referenced in the Scope of Work set forth in Exhibit "A." A,".Sublease Payments and/or Sublease Prepayments by the District pursuant to the Sublease and Section 26 hereof shall be commensurate with the GMP. The Final GMP shall be subject to adjustments for Extra Work/Modifications in accordance with the provisions of Section 9 and adjustments for reductions in the Scope of Work pursuant to the provisions of Section 4(B), below. The Estimated GMP includes, and the Final GMP shall include, the cost of all labor, materials, equipment, general conditions, overhead, profit and Contractor contingency in an amount to be negotiated upon the finalization of the GMP.