Common use of Cost Control Management Clause in Contracts

Cost Control Management. Lessee shall prepare, based upon design documents prepared by Architect or Engineer and identified by the District, its own cost estimate of the total construction cost of the Project at several intervals, as specified in this Scope of Work. Lessee shall compare its cost estimate with the cost estimate independently prepared by Architect or Engineer for these same design documents, and endeavor to resolve discrepancies in the estimates to the satisfaction of the District, with the goal that both cost estimates are less than or equal to the District's Construction Budget. Lessee shall recommend, if necessary, appropriate modifications of the design documents to lower both Xxxxxx’s and the Architect or Engineer’s independent estimates to amounts equal to or lower than the Construction Budget. Lessee’s cost estimates shall be provided according to Uniformat standards and as specified below, and arranged in Uniformat format (a building systems organization format). Construction cost estimates shall be developed/updated and submitted as part of each of the following submittals: (a) 100% Design Development; Uniformat II format elemental categories and detailed to Level 3. (b) Each cost estimate shall: (1) Reflect the best professional estimate of actual costs anticipated. (2) Establish internal estimating allowances, consistent with good professional practice and appropriate to the Phase of development. Larger allowances are assumed held at early Phases, gradually diminishing to zero at completion of the final cost estimate.

Cost Control Management. Lessee shall prepare, based upon design documents prepared by Architect or Engineer and identified by the District, its own cost estimate of the total construction cost of the Project at several intervals, as specified in this Scope of Work. Lessee shall compare its cost estimate with the cost estimate independently prepared by Architect or Engineer for these same design documents, and endeavor to resolve discrepancies in the estimates to the satisfaction of the District, with the goal that both cost estimates are less than or equal to the District's Construction Budget. Lessee shall recommend, if necessary, appropriate modifications of the design documents to lower both XxxxxxLessee’s and the Architect or Engineer’s independent estimates to amounts equal to or lower than the Construction Budget. Lessee’s cost estimates shall be provided according to Uniformat standards and as specified below, and arranged in Uniformat format (a building systems organization format). Construction cost estimates shall be developed/updated and submitted as part of each of the following submittals: (a) 100% Design Development; Uniformat II format elemental categories and detailed to Level 3. (b) Each cost estimate shall: (1) Reflect the best professional estimate of actual costs anticipated. (2) Establish internal estimating allowances, consistent with good professional practice and appropriate to the Phase of development. Larger allowances are assumed held at early Phases, gradually diminishing to zero at completion of the final cost estimate.