Establishment of Guaranteed Maximum Price. The Parties hereby agree that Commented [IB11]: Insert the dollar amount of the CM fee for Construction Phase services. You do not need to write it in words, just numbers. the GMP for construction of the Project shall be $X and that this is a line item GMP. In no event shall the cost of construction of the Project and the CM’s Fee exceed the GMP, as adjusted by any County approved change orders.
Establishment of Guaranteed Maximum Price. The “GMP” for the Project shall be
Establishment of Guaranteed Maximum Price. 9.1 GMP Established After Execution of this Agreement.
Establishment of Guaranteed Maximum Price. If the amount of the GMP Proposal, is equal to or below the Construction Budget and the Owner elects to proceed with the Construction Manager rather than another bidder (which determination shall be made by Owner in Owner's sole discretion), then the Owner and Construction Manager shall execute a written amendment to this Contract (hereinafter referred to as the "GMP Amendment"), in the form attached hereto as Exhibit A, which shall establish a firm Guaranteed Maximum Price for the Work if it is built in accordance with the requirements of the Work set forth in or reasonably inferable from the GMP Design Documents listed in the GMP Amendment executed by the Owner and Construction Manager. The Owner agrees that if the Design Documents prepared by the Architect subsequent to the execution of the GMP Amendment contain Material Changes, as defined in this Contract, then the Construction Manager shall be entitled to an increase in the GMP as a result of such Material Changes, in accordance with the applicable provisions of the Contract.
Establishment of Guaranteed Maximum Price. The Parties hereby agree that the GMP for construction of the Project shall be $X. In no event shall the cost of construction of the Project and the CM’s Fee exceed the GMP, as adjusted by any County approved change orders.
Establishment of Guaranteed Maximum Price. “GMP”) The GMP for the Project shall be ($ ), as further described in Exhibit “C” of the Sublease. The GMP is based upon the approved plans and specifications existing and reviewed by Contractor at the time this Construction Services Agreement is entered into as more fully described and referenced in the Scope of Work set forth in Exhibit “A.” Contractor’s detailed line item costing of the Project, or Master Budget, totaling the GMP is attached hereto as Exhibit “B.” Furthermore, District represents and warrants that the GMP consists of the Tenant Improvement Payments comprising ninety percent (95%) of the GMP, plus the Sublease Payments comprising ten percent (5%) of the GMP to be paid as a portion of the rental of the Project and Site under the terms of the Sublease. District represents and warrants that (1) the total amount of Sublease Payments includes the total rental for the Project, which total does not exceed the fair market value for the Project; (2) said rental amount has been incorporated into the GMP in consideration and inducement of this Construction Services Agreement, the Site Lease, the Sublease, the uses and purposes which may be served by the Project, and the benefits therefrom which will accrue to District and the general public; and (3) said rental amount shall be paid by District as a part of the GMP, with District non-local match contribution local funds. The GMP and Tenant Improvement Payments are subject to adjustments for Extra Work/Modifications in accordance with the provisions of Section 9, below, and adjustments for reductions in the Scope of Work pursuant to the provisions of Section 4, below. The GMP includes the cost of all labor, materials, equipment, general conditions, overhead, profit, and Contractor Contingency (as defined directly below), but shall specifically exclude the amount of the District Contingency.
Establishment of Guaranteed Maximum Price
