Owner’s Contingency Clause Samples

Owner’s Contingency. A. Each Contractor shall include in his total Bid the lump sum printed in the Bid l Forms and any bid other than the specified amount will be considered informal. B. Under this item each Bidder shall furnish all labor, material and equipment required to accomplish additional work: 1. Necessitated by encountering during the course of the work field conditions of a nature not determinable during design; or 2. For which no unit prices are applicable. C. Only that additional work shall be performed by the CONTRACTOR and will be paid for by the OWNER, which has been authorized by the OWNER in writing, prior to its commencement.

Owner’s Contingency. County and GC acknowledge the Work has become necessary due to narrow focus of repairs that have not allowed for all plans and specifications to be fully developed. Therefore, County and GC anticipate the need for future Change Orders to be issued after the Work commences. To provide funding for such Change Orders, a not to exceed amount of Twenty-Eight Thousand Two Hundred Five Dollars and 13/100 Dollars ( $28,205.13 ) shall serve as the Owner’s Contingency from which such changes in the Work are to be paid in accordance with the General Conditions. 5.3.1 Owner’s Contingency is controlled solely by County. 5.3.2 Expenditures from the Owner’s Contingency must be made by Change Order issued by County in accordance with the General Conditions. 12/12/2023 SO Parking Lot South Repave 5.3.3 Unless otherwise provided in the Contract Documents, County will not pay a mark-up for profit and overhead on any change paid out of the Owner’s Contingency. GC shall not be entitled to any compensation from any unused amounts of the Owner’s Contingency. 5.3.4 For purposes of Local Government Code Section 262.031 (calculation for maximum change order cap), the Contract Sum set out in Paragraph 5.1 above, plus the Owner’s Contingency (set out in Paragraph 5.3 above), shall serve as the original Contract price.

Owner’s Contingency. The parties acknowledge that each Project Budget shall contain an owner's contingency (an "Owner's Contingency") equal to no less than 2% of Project hard and soft costs contained within the Project Budget. Provided no Default exists hereunder, the Owner's Contingency for a Project shall be disbursed by Atlantic to the subject Borrower to cover unanticipated Project costs, costs associated with change orders and hard and soft cost overruns (before such Borrower or Homestead, as guarantor under the Completion and Payment Guaranty, shall be required to cover such additional costs pursuant to the provisions of Section 6.6 hereinbelow or the Completion and Payment Guaranty) as and when such payments are due and payable. Requests for disbursement of portions of the Owner's Contingency shall be made with Homestead's monthly requests for advance of Loan proceeds. Upon the occurrence of a Default hereunder, Atlantic shall have no obligation to advance any portion of the Owner's Contingency until such Default is cured. Upon the occurrence of an Event of Default, Atlantic may apply the Owner's Contingency against any of the obligations secured by the Security Documents as Atlantic sees fit, or at Atlantic's option, to the completion of any incomplete Improvements.

Owner’s Contingency. This GMP also includes a dollar amount listed as an Owner's Contingency which may be used only by the CITY (owner department) for upgrades and changes in scope or other changes not already included within the intent of the Project Program. CITY shall provide CM@RISK with a Work Change Directive authorizing CM@RISK to perform the additional work and to transfer funds from the Owner’s Contingency to the Work Item Direct Costs category to be paid with such direct costs. These additional costs shall be in amount mutually agreed upon by CM@RISK and CITY or shall be documented by CM@RISK on a time and materials basis and are subject to verification by the CITY. Any amount not used in the Owner’s Contingency shall belong to the CITY and shall reduce the GMP.

Owner’s Contingency. A not-to-exceed amount for the Owner’s Contingency stated herein for reference: All terms and conditions of the Contract are hereby adopted and incorporated into this GMP Proposal. Any exceptions to, or modifications of, the terms and conditions of the Contract shall not be effective unless they are expressly stated and conspicuously identified in this GMP Proposal and are specifically accepted and approved by County. Otherwise, proposed revisions or modifications to the language, terms, or conditions of the Contract will not be accepted. SpawGlass Contractors, Inc. ▇▇▇▇▇▇▇▇▇▇ County, Texas By: By: Signature Signature Printed Name Printed Name Title Title Date Signed: Date Signed:

Owner’s Contingency. As a part of the Target Value Design, the initial Core Group will establish an acceptable Owner’s Contingency to be used to fund some or all of Owner’s obligations under Article 24. Prior to Substantial Completion, the Owner’s Contingency will not be used without the Core Group’s approval. The Owner’s Contingency will not be part of any IPD Team Risk Pool Plan and any unused amount will be returned 100% to Owner. For clarity, the Owner agrees that it continues to be responsible for funding all of its obligations under Article 24 notwithstanding that the Owner’s Contingency may be exhausted or that the Core Group may not approve the use of Owner’s Contingency for such purpose.

Owner’s Contingency. An Owner’s Contingency of Two Percent (2%) of the Final Guaranteed Maximum Price of $23,744,467 is allowed for Change Orders, which is $474,889.34, before Board Approval is required by Northern Water. The Contractor is required to get signed approval from the Owner for all Change Orders and to apply Change Order costs to the Owner’s Contingency. There shall be no further modifications of the Guaranteed Maximum Price, unless and until the aggregate value of Change Orders approved by the Owner exceeds such Owner’s Contingency amount. Any unused funds from the Two Percent Owner’s Contingency will be returned to Northern Water upon the completion of Phase 1 by reducing the Guaranteed Maximum Price by the amount of such unused Owner’s Contingency. Nothing herein is intended to modify the Change Order requirements in the Contract Documents.

Owner’s Contingency. A not-to-exceed amount for the Owner’s Contingency stated herein for reference: All terms and conditions of the Contract are hereby adopted and incorporated into this GMP Proposal. Any exceptions to, or modifications of, the terms and conditions of the Contract shall not be effective unless they are expressly stated and conspicuously identified in this GMP Proposal and are specifically accepted and approved by County. Otherwise, proposed revisions or modifications to the language, terms, or conditions of the Contract will not be accepted. BY SIGNING BELOW, ▇▇▇▇ and County have executed and bound themselves to this Guaranteed Maximum Price (GMP) Proposal. Chasco Contructors, Ltd., LLC ▇▇▇▇▇▇▇▇▇▇ County, Texas By: By: Signature Signature Printed Name Printed Name Title Title Date Signed: Date Signed:

Owner’s Contingency. A sum established by the OWNER, to be included in the GMP, subject to adjustment to include any buyout or sales tax project savings, which may be utilized by the OWNER for OWNER requested changes, additive bid alternates and deductive credits, differing/unforeseen existing conditions.