Second Component. The CM shall be entitled to a fixed, subject to modification based upon the final GMCC amount (without exceeding 3.6% of the final GMCC noted in Exhibit “B”), not to exceed fee of $2,413,620 for the Second Component of the Basic Services. Modifications to the final GMCC and associated fees are subject to Governing Board approval. The CM’s fee for the Second Component shall be paid to the CM via monthly payments based on the fixed fee divided by the duration of services. In addition to the CM Contingency above, Exhibit “B” shall also include a three and a half percent (3 1/2%) contingency that shall be for the exclusive use of the Owner (Owner’s Contingency). Contingency can be used at the sole discretion and written approval of the Owner. In the event any Owner’s Contingency funds remain at the end of the Project, such funds shall be the property of the Owner.
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Sources: Construction Management Services Agreement, Construction Management Services Agreement
Second Component. The CM shall be entitled to a fixed, subject to modification based upon the final GMCC amount (without exceeding 3.6% of the final GMCC noted in Exhibit “B”), not to exceed fee of $2,413,620 1,713,144 for the Second Component of the Basic Services. Modifications to the final GMCC and associated fees are subject to Governing Board approval. The CM’s fee for the Second Component shall be paid to the CM via monthly payments based on the fixed fee divided by the duration of services. In addition to the CM Contingency above, Exhibit “B” shall also include a three and a half percent (3 1/2%) contingency that shall be for the exclusive use of the Owner (Owner’s Contingency). Contingency can be used at the sole discretion and written approval of the Owner. In the event any Owner’s Contingency funds remain at the end of the Project, such funds shall be the property of the Owner.
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