Common use of Guaranteed Maximum Price Proposal and Contract Time Clause in Contracts

Guaranteed Maximum Price Proposal and Contract Time. 3.10.1 When the Construction Documents are 98% complete, Construction Manager will propose a GMP, which is the total not-to-exceed estimate of the cost of Work and the Construction Manager’s fee, and which is attached hereto as Exhibit “C.” The GMP shall include all labor, materials, equipment, tools, construction equipment and machinery, water, heat, utilities, transportation, and any other services necessary for the proper execution and completion of the Work. Such GMP Proposal will be subject to modification for changes in the Project; however, the actual price paid for the Work by the Owner shall be the actual cost of all Work plus the Construction Manager’s fees or the GMP Proposal, whichever is less when the work is complete. Except as provided in this Article 3 and Exhibit “C,” the Cost of the Work shall not include: 3.10.1.1 Salaries and other compensation of the Construction Manager’s personnel stationed at the Construction Manager’s principal office or offices other than the site office and any compensation in the nature of incentives or bonuses of any such personnel at any office or site. 3.10.1.2 Expenses of the Construction Manager’s principal office and offices other than the site office. 3.10.1.3 Off-site overhead and general expenses 3.10.1.4 The Construction Manager’s capital expenses, including interest on the Construction Manager’s capital employed for the Work. 3.10.1.5 Any costs not specifically and expressly described in this Article 3 or Exhibit “C.” 3.10.2 After the Construction Manager proposes a GMP, the Architect shall not modify the Construction Documents to include such things as changes in scope, systems, kinds and quality of materials, finishes or equipment. If these modifications are required, all of which, if required, shall be incorporated by change order 3.10.3 The GMP cost of Work shall include the Construction Manager’s contingency, which is defined as a sum estimated by the Construction Manager to cover unforeseen costs during construction. The Owner retains exclusive use of the contingency, and all expenditures must be approved in writing by the Owner.

Guaranteed Maximum Price Proposal and Contract Time. 3.10.1 When the Construction Documents are 98% complete, Construction Manager will propose a GMP, which is the total not-to-exceed estimate of the cost of Work and the Construction Manager’s fee, and which is attached hereto as Exhibit “C.” The GMP shall include all labor, materials, equipment, tools, construction equipment and machinery, water, heat, utilities, transportation, and any other services necessary for the proper execution and completion of the Work. Such GMP Proposal will be subject to modification for changes in the Project; however, however the actual price paid for the Work by the Owner shall be the actual cost of all Work plus the Construction Manager’s fees or the GMP Proposal, whichever is less when the work is complete. Except as provided in this Article 3 and Exhibit “C,” ”, the Cost of the Work shall not include: 3.10.1.1 Salaries and other compensation of the Construction Manager’s personnel stationed at the Construction Manager’s principal office or offices other than the site office and any compensation in the nature of incentives or bonuses of any such personnel at any office or site. 3.10.1.2 Expenses of the Construction Manager’s principal office and offices other than the site office. 3.10.1.3 Off-site overhead and general expenses 3.10.1.4 The Construction Manager’s capital expenses, including interest on the Construction Manager’s capital employed for the Work. 3.10.1.5 Any costs not specifically and expressly described in this Article 3 or Exhibit “C.C”. 3.10.2 After the Construction Manager proposes a GMP, the Architect shall not modify the Construction Documents to include such things as changes in scope, systems, kinds and quality of materials, finishes or equipment. If these modifications are required, all of which, if required, shall be incorporated by change order 3.10.3 The GMP cost of Work shall include the Construction Manager’s contingency, which is defined as a sum estimated by the Construction Manager to cover unforeseen costs during construction. The Owner retains exclusive use of the contingency, and all expenditures must be approved in writing by the Owner.

Guaranteed Maximum Price Proposal and Contract Time. 3.10.1 § 2.2.1 At a time to be mutually agreed upon by the Owner and the Construction Manager and in consultation with When all elements of the Construction Documents are 98% at least 90 per cent complete, as mutually agreed upon by the Owner, the Construction Manager, and the Architect, the Construction Manager will propose shall prepare a GMP, which is Guaranteed Maximum Price proposal for the total not-to-exceed Owner’s review and acceptance. The Guaranteed Maximum Price in the proposal shall be the sum of of: the Construction Manager’s estimate of the cost Cost of Work the Work, including contingencies described in Section 2.2.4, and the Construction Manager’s feeFee. 2.2.4; the general conditions; and the Construction M anager’s Fee. If any Guaranteed Maximum Price proposal submitted to the Owner exceeds previously-approved estimates or the Owner's budget, then the Construction Manager shall make appropriate recommendations to the Owner and Architect for cost reductions, including but not limited to, substitution of materials or revisions or alterations to the Construction Documents, to bring the Project within the Owner’s budget, but shall not delete necessary components of the Project without consent of the Superintendent of Schools or designee. In the event that the quality or scope identified in the proposal are unacceptable or exceed the Owner’s identified budget, the Construction Manager shall work with the Architect to develop options that are acceptable to Owner, are within the O wner’s budget, and which is attached hereto as Exhibit “C.” meet the Owner’s requirements for dates of Substantial Completion and Final Completion. The GMP shall include all labor, materials, equipment, tools, construction equipment and machinery, water, heat, utilities, transportation, and any other services necessary Construction Manager may propose separate Guaranteed Maximum Prices for the proper execution and completion of the Work. Such GMP Proposal will be subject to modification for changes in separate Works within the Project; however, as schedules and efficiencies dictate. The Construction Manager will work with the actual price paid Architect to achieve a Guaranteed Maximum Price that is fully acceptable to Owner and is within the Owner's budget for the Work and for the Project. § 2.2.2 To the extent that the Drawings and Specifications are anticipated to require further development by the Owner shall be the actual cost of all Work plus the Construction Manager’s fees or the GMP ProposalArchitect, whichever is less when the work is complete. Except as provided in this Article 3 and Exhibit “C,” the Cost of the Work shall not include: 3.10.1.1 Salaries and other compensation of the Construction Manager’s personnel stationed at the Construction Manager’s principal office or offices other than the site office and any compensation in the nature of incentives or bonuses of any such personnel at any office or site. 3.10.1.2 Expenses of the Construction Manager’s principal office and offices other than the site office. 3.10.1.3 Off-site overhead and general expenses 3.10.1.4 The Construction Manager’s capital expenses, including interest on the Construction Manager’s capital employed for the Work. 3.10.1.5 Any costs not specifically and expressly described in this Article 3 or Exhibit “C.” 3.10.2 After the Construction Manager proposes a GMP, shall provide in the Architect shall Guaranteed Maximum Price for such further development consistent with the Contract Documents and reasonably inferable therefrom.Such further development does not modify the Construction Documents to include such things as changes in scope, systems, kinds and quality of materials, finishes or equipment. If these modifications are required, all of which, if required, shall be incorporated by change orderChange Order. 3.10.3 § 2.2.3 The GMP cost of Work Construction Manager shall include with the Guaranteed Maximum Price proposal a written statement of its basis, which shall include the following: .1 A list of the Drawings and Specifications, including all Addenda thereto, and the Conditions of the Contract; .2 A list of the clarifications and assumptions made by the Construction Manager in the preparation of the Guaranteed Maximum Price proposal, including assumptions under Section 2.2.2, to supplement the information provided by the Owner and contained in the Drawings and Specifications; .3 A statement of the proposed Guaranteed Maximum Price, including a statement of the estimated Cost of the Work organized by trade categories or systems, allowances, contingency, general conditions, and the Construction Manager’s contingency, which is defined as a sum estimated by the Construction Manager to cover unforeseen costs during construction. The Owner retains exclusive use of the contingency, and all expenditures must be approved in writing by the Owner.Fee;