Common use of Cost of the Project Clause in Contracts

Cost of the Project. Definition - The term Cost of the Project shall mean costs necessarily incurred in the Project during the Construction Phase for construction services and paid by the Construction Manager, which are not included in the Construction Phase Fee. Such costs shall include the items set forth below in this Article. The Owner agrees to pay the Construction Manager for the Cost of the Project as defined in Article 9. Such payment shall be in addition to the Construction Manager’s fees described in Article 8. Wages - Wages include ▇▇▇▇▇ paid for labor (as opposed to wages paid to management or supervisory personnel) in the direct employ of the Construction Manager in the performance of his Work under Agreement, times a multiple of 1.35 to cover fringe benefits; and, Wages paid to management or supervisory personnel in the employ of the Construction Manager at the job site, times a multiple of 1.50 to cover fringe benefits. The Construction Manager’s personnel to be assigned to the site during the Construction Phase, their duties and responsibilities, and the duration of their assignments as otherwise agreed to in writing by the parties. Supplies - Cost of all materials, supplies and equipment incorporated in the Project, including costs of transportation and storage thereof, but excluding interest, penalties and late charges due to the failure of the Construction Manager to make timely payments for all labor, services, equipment and materials purchased in connection with the Project. Subcontractors - Payments due to Subcontractors from the Construction Manager or made by the Construction Manager to Subcontractors for their Work performed pursuant to contract under this Agreement. Materials Not Fully Consumed - Cost, including transportation and maintenance, of all materials, supplies, equipment, temporary facilities and hand tools not owned by the workmen, which are employed or consumed in the performance of the Work, cost on such items used but not consumed which may be turned over to the Owner at the end of the Project, and cost less salvage value on such items used but not consumed which remain the property of the Construction Manager. For those items to be turned over to the Owner at the end of the project, paragraph 2.3.6 shall apply. Rental Charges - Rental charges on all necessary machinery and equipment, exclusive of hand tools used at the site of the Project, whether rented from the Construction Manager or other, including installation, repairs and replacements, dismantling, removal, costs of lubrication, transportation and delivery costs thereof, which are used in the support of a Subcontractor or the Construction Manager ’s own forces in the performance of the Work, at rental charges consistent with those prevailing in the area. Insurance Premiums - Cost of the premiums for insurance in excess of the amounts required under the College’s “Continuing Services Agreement for Construction Management At-Risk Services for Construction Projects” and, subject to the provisions of paragraphs 2.3.5 and 5.3.2(a) above, the cost of premiums for all bonds which the Construction Manager is required to procure by this Agreement specifically for the Project. Insurance Premiums for the insurance required under the College’s “Continuing Services Agreement for Construction Management At-Risk Services for Construction Projects” are not a Direct Cost item for the purposes of this Agreement. Taxes - Sales, use, gross receipts or similar taxes related to allowable Direct Costs of the Project imposed by any governmental authority, and for which the Construction Manager is liable.

Cost of the Project. Definition - The term Cost of the Project shall mean costs necessarily incurred in the Project during the Construction Phase for construction services and paid by the Construction Manager, which are not included in the Construction Phase Fee. Such costs shall include the items set forth below in this Article. The Owner agrees to pay the Construction Manager for the Cost of the Project as defined in Article 9. Such payment shall be in addition to the Construction Manager’s fees described in Article 8. Wages - Wages include ▇▇▇▇▇ Wages paid for labor (as opposed to wages paid to management or supervisory personnel) in the direct employ of the Construction Manager in the performance of his Work under Agreement, times a multiple of 1.35 to cover fringe benefits; and, Wages paid to management or supervisory personnel in the employ of the Construction Manager at the job site, times a multiple of 1.50 to cover fringe benefits. The Construction Manager’s personnel to be assigned to the site during the Construction Phase, their duties and responsibilities, and the duration of their assignments as otherwise agreed to in writing by the parties. Supplies - Cost of all materials, supplies and equipment incorporated in the Project, including costs of transportation and storage thereof, but excluding interest, penalties and late charges due to the failure of the Construction Manager to make timely payments for all labor, services, equipment and materials purchased in connection with the Project. Subcontractors - Payments due to Subcontractors from the Construction Manager or made by the Construction Manager to Subcontractors for their Work performed pursuant to contract under this Agreement. Materials Not Fully Consumed - Cost, including transportation and maintenance, of all materials, supplies, equipment, temporary facilities and hand tools not owned by the workmen, which are employed or consumed in the performance of the Work, cost on such items used but not consumed which may be turned over to the Owner at the end of the Project, and cost less salvage value on such items used but not consumed which remain the property of the Construction Manager. For those items to be turned over to the Owner at the end of the project, paragraph 2.3.6 shall apply. Rental Charges - Rental charges on all necessary machinery and equipment, exclusive of hand tools used at the site of the Project, whether rented from the Construction Manager or other, including installation, repairs and replacements, dismantling, removal, costs of lubrication, transportation and delivery costs thereof, which are used in the support of a Subcontractor or the Construction Manager ’s own forces in the performance of the Work, at rental charges consistent with those prevailing in the area. Insurance Premiums - Cost of the premiums for insurance in excess of the amounts required under the College’s “Continuing Services Agreement for Construction Management At-Risk Services for Construction Projects” and, subject to the provisions of paragraphs 2.3.5 and 5.3.2(a) above, the cost of premiums for all bonds which the Construction Manager is required to procure by this Agreement specifically for the Project. Insurance Premiums for the insurance required under the College’s “Continuing Services Agreement for Construction Management At-Risk Services for Construction Projects” are not a Direct Cost item for the purposes of this Agreement. Taxes - Sales, use, gross receipts or similar taxes related to allowable Direct Costs of the Project imposed by any governmental authority, and for which the Construction Manager is liable.