Common use of Allocation of Cost Clause in Contracts

Allocation of Cost. (1) Estimated Cost under $150,000. Regardless of whether any Hazardous Substances discovered after Notice to Proceed is a Latent Condition or a Known Condition, if the cost to complete the work under the Remedial Work Plan in the aggregate is estimated to cost $150,000 or less, MSR shall conduct all work in the Remedial Work Plan, shall use commercially reasonable efforts to minimize the costs of Remedial Work consistent with achieving a cleanup that complies with applicable Environmental Laws, and shall keep the City and SPS apprised of the progress of the performance of the Remedial Work Plan and its costs. MSR shall pay for the cost of completing the Remedial Work Plan utilizing contingency funds or other private funding sources and without any increase to the SPS Maximum Funding or the City Maximum Funding.