Estimates for Addenda. UNLESS THE OWNER HAS ELECTED TO ESTABLISH THE GMP AFTER BIDS HAVE BEEN RECEIVED, Tthe CM shall prepare an estimate of costs for all addenda and shall submit the estimates to the Owner for approval. After approval by the Owner, the addenda shall be transmitted to bidders and the Guaranteed Maximum Price and the CM’s compensation shall be adjusted as provided in this Agreement.
Appears in 3 contracts
Sources: Standard Form of Agreement Between Owner and Construction Manager (Construction Manager at Risk), Standard Form of Agreement Between Owner and Construction Manager (Construction Manager at Risk), Standard Form of Agreement Between Owner and Construction Manager (Construction Manager at Risk)