Common use of Cost Limitation Clause in Contracts

Cost Limitation. The GMP Cost Limitation, set forth in Section 5 of the Form of Contract, is the Owner’s budgeted amount for construction of the Project. The GMP Cost Limitation may include funds from the Using Agency, bond funds that are authorized in the State of Georgia’s General Appropriations Act or Amended General Appropriations Act, or bond funds that are expected to be authorized in the State of Georgia’s General Appropriations Act or Amended General Appropriations Act, or other funding sources. The GMP Cost Limitation is subject to change until execution of the GMP Change Order if anticipated funding is not received by the Owner.