After Final Application for Payment. As to acts or failures to act occurring after the relevant date of issuance of the final Application for Payment, any applicable statute of limitations shall commence to run and any alleged cause of action shall be deemed to have accrued in any and all events not later than the date of any act or failure to act by the Design-Builder pursuant to any Warranty provided under Section A.3.5, the date of any correction of the Work or failure to correct the Work by the Design-Builder under Section A.12.2, or the date of actual commission of any other act or failure to perform any duty or obligation by the Design-Builder or Owner, whichever occurs last. § A.13.7 CONTINGENCIES Design Builder’s Construction Contingency – The Contingency amount was established by the Design-Builder and itemized in the response to the RFP documents. The Design-Builder’s construction contingency shall be monitored by the Design-Builder and Owner for the sole use of the Design-Builder to accommodate cost issues not anticipated in the original proposal that do not qualify as Change Orders. The Design-Builder’s construction contingency amount may vary within each application for payment. The amount remaining in the Design-Builder’s construction contingency at final completion belongs to both UNLV and the Design-Builder in the ratio of 70% to Owner and 30% to Design-Builder and may be included in the final request for payment. Owner’s Contingency – A contingency may be established by the Owner. The Owner’s Contingency is not part of the Design-Builder’s Guaranteed Maximum Price and is for the sole use of the Owner to accommodate any Owner requested changes of the subject project which were not part of the Design-Builder’s Guaranteed Maximum Price and approved proposal submission, or reasonably inferred by the requirements of this Agreement. The amount remaining in the Owner’s Contingency at the end of the project belongs 100% to the Owner.
After Final Application for Payment. As to acts or failures to act occurring after the relevant date of issuance of the final Application for Payment, any applicable statute of limitations shall commence to run and any alleged cause of action shall be deemed to have accrued in any and all events not later than the date of any act or failure to act by the Design-Builder pursuant to any Warranty provided under Section A.3.5, the date of any correction of the Work or failure to correct the Work by the Design-Builder under Section A.12.2, or the date of actual commission of any other act or failure to perform any duty or obligation by the Design-Builder or Owner, whichever occurs last.
