Common use of Work Cost Estimate and Statement Clause in Contracts

Work Cost Estimate and Statement. Prior to the commencement of construction of any of the Tenant Improvements shown on the Final Plans, Tenant will submit to Landlord a written estimate of the cost to complete the Tenant Improvement Work, which written estimate will be based on the Final Plans taking into account any modifications which may be required to reflect changes in the Final Plans required by the City or County in which the Premises are located and based on the lowest bid submitted by reputable tenant improvement contractors selected by Tenant and reasonably approved by Landlord (the "Work Cost Estimate"). Submission and approval of the Work Cost Estimate will proceed in accordance with the Work Schedule. Upon Landlord's approval of the Work Cost Estimate (such approved Work Cost Estimate to be hereinafter known as the "Work Cost Statement"), Tenant will have the right to purchase materials and to commence the construction of the items included in the Work Cost Statement pursuant to Paragraph 6 hereof. If the total costs reflected in the Work Cost Statement exceed the Allowance described in Paragraph 5 below, Tenant agrees to pay such excess to Tenant's Contractor (defined below). The contractor selected by Landlord and Tenant through the competitive bidding process is referred to herein as "Tenant's Contractor". Tenant's written construction agreement with Tenant's Contractor shall be subject to Landlord's prior review and approval.

Work Cost Estimate and Statement. The parties acknowledge and agree that the fixed fees of the general contractor plus the fixed general conditions costs and the change order fees of the general contractor and subcontractor markup on materials shall be as stated in the Construction Contract (as defined below), but shall be subject to adjustment as expressly provided in the Construction Contract. Prior to the commencement of construction of any of the Tenant Improvements shown on the Final PlansPlans that is to be performed by a subcontractor (as defined in the Construction Contract), Tenant Landlord will submit to Landlord Tenant a written estimate of the cost to complete the applicable portion of the Tenant Improvement WorkWork to be performed by such subcontractor (each, which written estimate will be based on the Final Plans taking into account any modifications which may be required to reflect changes in the Final Plans required by the City or County in which the Premises are located and based on the lowest bid submitted by reputable tenant improvement contractors selected by Tenant and reasonably approved by Landlord (the a "Work Cost Estimate"). Tenant will either approve the applicable Work Cost Estimate or disapprove specific items and submit to Landlord revisions to the Final Plans to reflect deletions of and/or substitutions for such disapproved items. Submission and approval of the each Work Cost Estimate will proceed in accordance with the Work ScheduleSchedule but in any event within two (2) business days after delivery to Tenant. Tenant's failure to either approve or disapprove of any applicable Work Cost Estimate will be deemed to be Tenant's approval thereof. Upon LandlordTenant's approval of the applicable Work Cost Estimate (such approved Work Cost Estimate to be hereinafter known as the a "Work Cost Statement"), Tenant Landlord will have the right to purchase materials and to commence the construction of the items included in the applicable Work Cost Statement pursuant to Paragraph 6 Section 7 hereof. If the total costs reflected in the Work Cost Statement exceed the Allowance described in Paragraph 5 below, Tenant agrees to pay such excess to Tenant's Contractor (defined below). The contractor selected by Landlord and Tenant through the competitive bidding process is referred to herein as "Tenant's Contractor". Tenant's written construction agreement with Tenant's Contractor shall be subject to Landlord's prior review and approval.

Work Cost Estimate and Statement. Prior to the commencement of construction of any of the Tenant Leasehold Improvements shown on the Final Plans, Tenant will Landlord shall submit to Landlord Tenant a written estimate of Work Cost of the cost to complete the Tenant Improvement WorkLeasehold Improvements, which written estimate will shall be based on the Final Plans. Tenant shall either approve the estimate or disapprove specific items and submit to Landlord revisions of Final Plans taking into account to reflect the deletion of and/or substitution for such disapproved items. Failure of Tenant to disapprove any modifications which specific items within five (5) business days of the submission of such estimate (as the same may be required to reflect changes in the Final Plans required by the City or County in which the Premises are located and based on the lowest bid submitted by reputable tenant improvement contractors selected by Tenant and reasonably approved by Landlord (the "Work Cost Estimate"). Submission and revised) shall be deemed approval of the Work Cost Estimate will proceed in accordance with the Work Schedulethereof. Upon LandlordTenant's approval of the Work Cost Estimate (said estimate, such approved Work Cost Estimate estimate to be hereinafter known as the "Work Cost Statement"), Tenant will ," Landlord shall have the right to purchase materials and to commence the construction of the items included in the said Work Cost Statement pursuant to Paragraph 6 4 hereof. If In the event the total costs reflected in the Work Cost Statement exceed the Allowance described in Paragraph 5 belowAllowance, Tenant agrees to shall pay such excess excess, as additional rent, within fifteen (15) days after Tenant receives an invoice from Landlord (which invoice may be given prior to Tenant's Contractor (defined belowinstallation of the Leasehold Improvements). The contractor selected Any differences between the estimated Work Cost in the Work Cost Statement and the actual Work Cost shall be determined by Landlord and Tenant through appropriate adjustments and payments by Landlord or Tenant, as the competitive bidding process is referred to herein as "Tenant's Contractor". Tenant's written construction agreement with Tenant's Contractor case may be, shall be subject to Landlord's prior review and approvalmade within fifteen (15) days thereafter.

Work Cost Estimate and Statement. Prior to the commencement of construction of any of the Tenant Improvements shown on the Final PlansConstruction Drawings, as provided in the Work Schedule, Landlord will require Contractor to bid the Construction Drawings to three (3) subcontractors in each principal trade for the construction of the Tenant will submit Improvements, which bids shall include any qualified subcontractors selected by Tenant and provided to Landlord in writing in a timely manner. Based in part on the bids selected by Contractor, Contractor shall prepare a written estimate of the cost to complete the Tenant Improvement Work, which written estimate will be based on the Final Plans taking into account any modifications Construction Drawings provided to Contractor (which may or may not be required to reflect changes a final version thereof). Landlord shall take such estimate and prepare a report which includes other costs of the work and fees such as space planning, architectural, engineering, supervision, insurance, and other soft costs incurred in the Final Plans required by the City or County in which the Premises are located and based on the lowest bid submitted by reputable tenant improvement contractors selected by Tenant and reasonably approved by Landlord connection therewith (the "Work Cost Estimate"). Tenant will either approve the Work Cost Estimate or disapprove specific items and submit to Landlord revisions to the Construction Drawings to reflect deletions of and/or substitutions for such disapproved items, and delays attributable to such changes shall be Tenant Delays. Submission and approval of the Work Cost Estimate will proceed in accordance with the Work Schedule. Upon LandlordTenant's written approval of the Work Cost Estimate (such approved Work Cost Estimate is referred to be hereinafter known herein as the "Work Cost Statement"), Tenant Landlord will have the right to cause Contractor to purchase materials and to commence the construction of the items included in the Work Cost Statement pursuant to Paragraph 6 hereof. If the total costs reflected in the Work Cost Statement exceed the sum of the Allowance described in Paragraph 5 (defined below), Tenant agrees to pay such excess to without notice within five (5) days after Tenant's Contractor (defined below). The contractor selected by Landlord and Tenant through approval of the competitive bidding process is referred to herein as "Tenant's Contractor". Tenant's written construction agreement with Tenant's Contractor shall be subject to Landlord's prior review and approvalWork Cost Estimate.

Work Cost Estimate and Statement. Prior to the commencement of construction of any of and in accordance with the Tenant Improvements shown on the Final PlansDesign and Construction Schedule, Tenant will submit to Landlord a written good faith reasonable estimate of the total cost to complete Complete the Tenant Improvement WorkImprovements (“Work Cost Estimate”), which written estimate will (i) be based on the Final Plans taking into account any modifications which may be required to reflect changes in the Final Plans required by the City or County in which of San Diego if and to the Premises are located and based on the lowest bid submitted by reputable tenant improvement contractors selected by Tenant and reasonably extent approved by Landlord (whether in Landlord’s sole and absolute discretion or in Landlord’s reasonable discretion, as applicable, depending on the "modifications), (ii) include estimates on a line item basis and (iii) include reasonably detailed substantiation of the estimate. Landlord will either approve the Work Cost Estimate")Estimate or disapprove specific items and submit to Tenant revisions to the Final Plans to reflect deletions of and/or substitutions for such disapproved items. Submission and approval of the Work Cost Estimate will proceed in accordance with the Work Schedule. Upon Landlord's approval of until Landlord approves the Work Cost Estimate (such approved Estimate. The Work Cost Estimate to be ultimately approved by Landlord is hereinafter known as the "“Work Cost Statement")”. Tenant shall be solely responsible for, Tenant will have and shall pay, one hundred percent (100%) of all costs and expenses that are not expressly within the right to purchase materials and to commence the construction scope of the items included in Section 5(a) below for which the Work Cost Statement pursuant to Paragraph 6 hereofTenant Allowance may be applied. If the total costs reflected in the Work Cost Statement exceed the Allowance described in Paragraph 5 belowAlso, Tenant agrees to shall pay such one hundred percent (100%) of the excess to Tenant's Contractor (defined below). The contractor selected by Landlord of the costs and expenses of the items within the scope of the Tenant through Allowance exceeding the competitive bidding process is referred to herein as "Tenant's Contractor". Tenant's written construction agreement with Tenant's Contractor shall be subject to Landlord's prior review and approvalTenant Allowance.