Common use of ESTABLISHMENT OF GUARANTEED MAXIMUM PRICE ( Clause in Contracts

ESTABLISHMENT OF GUARANTEED MAXIMUM PRICE (. “GMP”) A. The estimated GMP for the Project shall be Dollars ($ ), as further described in Exhibit "C" of the Sublease. The final GMP shall be based upon the approved plans and specifications existing and reviewed by Contractor at the time the amended Construction Services Agreement is entered into as more fully described and referenced in the Scope of Work set forth in Exhibit “A.” Contractor’s detailed line item costing of the Project, or Master Budget, totaling the GMP is attached hereto as Exhibit “B.” Furthermore, District represents and warrants that the GMP consists of the Tenant Improvement Payments plus the Sublease Payments to be paid as a portion of the rental of the Project and Site under the terms of the Sublease. District represents and warrants that (1) the total amount of Sublease Payments includes the total rental for the Project, which total does not exceed the fair market value for the Project; (2) said rental amount has been incorporated into the GMP in consideration and inducement of this Construction Services Agreement, the Site Lease, the Sublease, the uses and purposes which may be served by the Project, and the benefits therefrom which will accrue to District and the general public; and

ESTABLISHMENT OF GUARANTEED MAXIMUM PRICE (. “GMP”) A. The estimated GMP for the Project shall be _ Dollars ($ ), as further described in Exhibit "C" of the Sublease. The final GMP shall be is based upon the approved plans and specifications existing and reviewed by Contractor at the time the amended Construction Services Agreement is entered into as more fully described and referenced in the Scope of Work set forth in Exhibit “A.” Contractor’s detailed line item costing of the Project, or Master Budget, totaling the GMP is attached hereto as Exhibit “B.” Furthermore, District represents and warrants that the GMP consists of the Tenant Improvement Payments plus the Sublease Payments to be paid as a portion of the rental of the Project and Site under the terms of the Sublease. District represents and warrants that (1) the total amount of Sublease Payments includes the total rental for the Project, which total does not exceed the fair market value for the Project; (2) said rental amount has been incorporated into the GMP in consideration and inducement of this Construction Services Agreement, the Site Lease, the Sublease, the uses and purposes which may be served by the Project, and the benefits therefrom which will accrue to District and the general public; and