Common use of Construction Implementation Clause in Contracts

Construction Implementation. The District shall compensate CFW the contract fee of two and one-half percent (2.50%) of the Project Costs, as defined below, and identified in Exhibit B, (hereinafter, the “Contract Price”) for each Project for the Scope of Work identified in Exhibit A, Section B. Project Costs shall be defined as all costs, fees, and expenses to be paid by the District to complete the acquisition, design and/or construction of each Project identified in Exhibit B that are implemented during the term of this Contract. Project Costs shall include but not be limited to the costs, fees and expenses related to the acquisition, planning, design, bidding, management and construction of each Project. Project Schedule shall be defined as the duration of time identified in Exhibit B to complete each Project. Project Costs and Project Schedule shall be initially estimated, subject to review and update every six months or upon completion of the project, whichever occurs first, to reflect actual costs incurred, and anticipated to be incurred by the District in order to complete the Project. The monthly payments to CFW shall be calculated as follows: (1) the total Project Costs, as defined herein, shall be multiplied by 2.50% (the “Construction Implementation Fee”); (2) this amount shall then be divided by the scheduled duration of the Project as identified in the Project Schedule in Exhibit B. This shall establish the “Average Monthly Fee”. CFW shall be paid the Average Monthly Fee each month for the duration of each Project under management up to the maximum fee which is equal to the Contract Price. CFW shall submit monthly invoices consistent with the formula described above.