Common use of Owner’s Contingency Clause in Contracts

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. This GMP also includes a dollar amount listed as an Owner's ’s Contingency which may be used only by the CITY City (owner department) for upgrades and changes in scope or other changes not already included within the intent of the Project Program. CITY shall City will provide CM@RISK CM@Risk with a Work Change Directive authorizing CM@RISK 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 will be in an amount mutually agreed upon by CM@RISK CM@Risk and CITY City or shall will be documented by CM@RISK CM@Risk on a time and materials basis and are subject to verification by the CITYCity. Any amount not used in the Owner’s Contingency shall will belong to the CITY City and shall will reduce the GMP.GMP.‌