Common use of Bids Exceeding Cost Estimate Clause in Contracts

Bids Exceeding Cost Estimate. If all bids exceed Consulting Engineer/Architect's Final Cost Estimate, Consulting Engineer/Architect, at the request of City and for no additional cost, will prepare a report for City identifying why all the bids exceed the estimate. The City has four (4) options if all bids exceed Consulting Engineer/Architect's estimate. The City may: (1) give written approval of an increase in the Project cost up to a maximum of 7% of the authorized total; (2) authorize rebidding of the Project; (3) terminate the Project and this Agreement; or (4) cooperate in revising the Project scope or specifications, or both, as necessary to reduce the Construction Cost. In the case of (4), Consulting Engineer/Architect, without additional charge to City, shall consult with City and shall revise and modify the drawings and specifications as necessary to achieve compliance with the Consulting Engineer/Architect's Estimate.

Bids Exceeding Cost Estimate. If all bids exceed Consulting Engineer/Architect's Final Cost Estimate, Consulting Engineer/Architect, at the request of City and for no additional cost, will prepare a report for City identifying why all the bids exceed the estimate. The City has four (4) options if all bids exceed Consulting Engineer/Architect's estimate. The City may: (1) give written approval of an increase in the Project project cost up to a maximum of 7% of the authorized total; (2) authorize rebidding of the Projectproject; (3) terminate the Project project and this Agreement; or (4) cooperate in revising the Project scope or specifications, or both, as necessary to reduce the Construction Costconstruction cost. In the case of (4), Consulting Engineer/Architect, without additional charge to City, shall consult with City and shall revise and modify the drawings and specifications as necessary to achieve compliance with the Consulting Engineer/Architect's Estimateestimate.

Bids Exceeding Cost Estimate. If all bids exceed Consulting Engineer/Architect's Final Cost Estimate, Consulting Engineer/Architect, at the request of City and for no additional costCity, will prepare a report for City identifying why all the bids exceed the estimate. The City has four (4) options if all bids exceed Consulting Engineer/Architect's estimate. The City may: (1) give written approval of an increase in the Project project cost up to a maximum of 7% of the authorized total; (2) authorize rebidding of the Projectproject; (3) terminate the Project project and this Agreement; or (4) cooperate in revising the Project scope or specifications, or both, as necessary to reduce the Construction Costconstruction cost. In the case of (4), Consulting Engineer/Architect, without additional charge to City, shall consult with City and shall revise and modify the drawings and specifications as necessary to achieve compliance with the Consulting Engineer/Architect's Estimateestimate. The work and payment necessary for case (4) above shall be considered Additional Services.