Statements of Probable Construction Cost. The Design Professional shall prepare and submit an initial Statement of Probable Construction Cost in the current CSI Master Format Division List. To the extent the Statement of Probable Construction Cost significantly deviates from the Stated Cost Limitation, the Design Professional shall discuss the deviations with the Owner and prepare and submit a plan to address the differences. As the design progresses, the Design Professional shall prepare and submit updated Statements of Probable Cost in like format.
Statements of Probable Construction Cost. The Design Professional shall prepare and submit an initial Statement of Probable Construction Cost in the UniFormat™ Level I shown in Exhibit F. To the extent the Statement of Probable Construction Cost significantly deviates from the Construction Cost Limitation, the Design Professional shall discuss the deviations with the Owner and prepare and submit a plan to address the differences. As the design progresses, the Design Professional shall prepare and submit updated Statements of Probable Cost in like format.
Statements of Probable Construction Cost. All Statements of Probable Construction Cost ("Statements") prepared by ARCHITECT or Estimates of Construction Cost ("Estimates") prepared by DISTRICT shall be in a mutually agreed upon format so they may be directly compared. The Statements and the Estimates shall be independently prepared by ARCHITECT and the DISTRICT at the end of the Schematic Design Phase, at the end of the Design Development Phase, and at 50% and 100% Construction Documents Phases. The ARCHITECT and the DISTRICT will perform a final reconciliation of the Final Statement of Probable Construction Cost and the Estimate of Construction Cost after the documents have been reviewed/approved by the Division of the State Architect (DSA) to allow for any changes made during the DSA review period. The Statements and the Estimates shall identify any contingencies as a separate line item. ARCHITECT shall supply DISTRICT upon request all material relied upon in producing the Statements.
Statements of Probable Construction Cost. A. Design Professional shall prepare all Statements of Probable Construction Cost in accordance with guidelines stated herein and Paragraph 5.02 below. All such Statements of Probable Construction Cost shall represent the facts existing as of the date of execution of the statement and shall represent the true state of the Design Professional's opinion. At various stages of the design as detailed in Exhibit A, the Design Professional shall submit in writing to the Owner Statements of Probable Construction Cost. The Design Professional shall keep the Owner informed of any adjustments to previous Statements of Probable Construction Cost necessitated by changes in scope, requirements, or market conditions. All Statements of Probable Construction Cost prepared by the Design Professional shall contain such provisions for inflation or deflation as may be reasonably anticipated within the construction industry. The inflation or deflation factor shall be applied based upon the anticipated date of receipt of bids for the Project.
