Common use of Final Budget Clause in Contracts

Final Budget. (a) Within thirty (30) Days after the awarding of the Construction Contracts for the Project, Construction Manager shall deliver to Owner a final budget reflecting the Construction Contracts and the value of all of the costs and expenses expected to be incurred in connection with the Project Contracts and Project Services (the “Final Budget”). (b) The Final Budget shall: (i) include all of the costs and expenses (together with the amount of goods and services tax, or substantially similar tax, applicable to such costs and expenses) of the Project, including, without duplication, all third party expenses to be incurred or paid by Owner in connection with the Project Contracts and Project Services, or other activities required by this Agreement (for clarity, such third party expenses shall not include, and Owner shall not be required to pay, any expenses incurred by Construction Manager or its Designee in connection with performance of the Project Services (including the Manager DPC Activities described in Section 3.1 performed under Project Contracts)); (ii) identify the operation by specific reference to the applicable line items in the Final Budget; (iii) describe the work in reasonable detail; (iv) contain Construction Manager’s best estimate, on a Monthly basis, of the total funds required to carry out such work; (v) provide a timetable of expenditures, if known; and (vi) be accompanied by such other reasonable supporting information as is necessary for an informed decision. (c) Owner shall approve the Final Budget no later than ten (10) Days after its delivery by Construction Manager to Owner.