Project Construction Budget Clause Samples
The Project Construction Budget clause defines the total financial allocation set aside for the construction phase of a project. It typically outlines the maximum amount that can be spent, details the categories of costs included (such as labor, materials, and permits), and may specify procedures for budget adjustments if unforeseen expenses arise. This clause ensures that all parties are aware of the financial boundaries, helping to control costs and prevent disputes over funding during the construction process.
Project Construction Budget. The project construction cost allowance specifically stated in writing as the ‘revised’ or ‘current’ ‘Project Construction Budget’ by the Trustees at each applicable phase of plan development.
Project Construction Budget. That portion of the Total Project Budget that enumerates the cost of constructing the Project inclusive of all designed construction, demolition, and renovation work, all supportive and preparatory construction work required for the Project, the General Contractor or the CM at Risk and all subcontractors, suppliers, materials, equipment, general conditions, insurance, overhead and profit and all other expenditures that are ordinarily considered as construction cost allocations. The Project Construction Budget includes the design contingency,, bidding contingency, and price escalation contingency, as appropriate to the phase of the Project.
Project Construction Budget. An estimate of the total cost of the project including but not limited to the construction contract award cost or Guaranteed Maximum Price (GMP) of the Project and an estimate for Furniture, Fixtures and Equipment.
Project Construction Budget. Project Phase
Project Construction Budget. The budget established by the Owner.
Project Construction Budget. Dollars ($ )
Project Construction Budget. Each Progress Report must cover the period of time since the prior Progress Report and must specify the status of any issues detailed in any prior Progress Report but not yet resolved. The obligation to provide the Progress Reports is separate from and in addition to the Construction Manager’s obligation to immediately notify the District of any anticipated or actual delay in construction of the Project, lack of conformity of any work with the applicable Project Plans, or actual or anticipated cost of construction in excess of the
Project Construction Budget. If Exhibit A hereto does not specify a final budget for the costs attributable to construction of the Project (“Project Construction Budget”), or if the Project Construction Budget specified in Exhibit A is qualified as being only the initial or estimated Project Construction Budget, the Construction Manager shall assist the District in developing a final
Project Construction Budget. The Parties intend that the Architect shall record and distribute minutes of the Construction Committee Meetings to all attendees and such other parties as determined by the District.
Project Construction Budget. The Architect/Engineer acknowledges that the Owner has provided a Project Construction Budget which is attached as Exhibit B. The Project Construction Budget is defined as the total budget identified for the construction of the Project. As identified in Exhibit B, the total Project Construction Budget consists of site development, building shells and interiors, site improvements, and any items of furniture and equipment that are included in the construction of the Project. The Architect/Engineer agrees that the Project Construction Budget is of the essence to this Agreement. The Architect/Engineer’s work product, including without limitation, any designs, plans, and drawings, shall be designed to be constructed within the Project Construction Budget.