Expert Cost Estimator Remedy Sample Clauses

Expert Cost Estimator Remedy. If CSU fails to require the contractor(s) performing work on the River Park Property to maintain bonds as required by Section 10.1 below, and the River Park Improvements have not been completed and made available for regular public use and enjoyment by the Delivery Date (as the same may be extended pursuant to the terms and conditions of this Agreement), then the Parties agree that City may elect, in its sole and absolute discretion, to pursue the following remedy: (i) City and CSU will jointly retain an Expert Cost Estimator to provide an opinion as to the River Park Future Total Estimated Costs, and City may (at its sole option) undertake a competitive bidding process for the River Park Improvements to provide the Expert Cost Estimator with relevant market data; (ii) City will deliver written notice to CSU identifying the exact amount of the River Park Future Total Estimated Costs and the Expert Cost Estimator’s related expenses; and (iii) within thirty (30) days after CSU’s receipt of City’s written notice, CSU will fully pay to City, via a bank wire transfer or a certified bank check, the River Park Future Total Estimated Costs and the Expert Cost Estimator’s related expenses. If City receives CSU’s payment of the River Park Future Total Estimated Costs, City will use such paid funds for construction and long-term maintenance of the River Park Improvements and CSU will be deemed to have completed the River Park (“Expert Cost Estimator Remedy”). If City pursues the Expert Cost Estimator Remedy, that will be the sole and exclusive remedy available to City in the event of a Default with respect to CSU’s failure to complete the River Park Improvements by the Delivery Date (as the same may be extended).
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Related to Expert Cost Estimator Remedy

  • Cost Estimate An estimate of the total project cost including but not limited to direct expenses, indirect expenses, land cost, and capital expenses.

  • Cost Estimating The Model may be used to develop cost estimates based on the approximate data provided and conceptual estimating techniques (e.g., volume and quantity of elements or type of system selected).

  • Cost Estimates If this Agreement pertains to the design of a public works project, CONSULTANT shall submit estimates of probable construction costs at each phase of design submittal. If the total estimated construction cost at any submittal exceeds ten percent (10%) of CITY’s stated construction budget, CONSULTANT shall make recommendations to CITY for aligning the PROJECT design with the budget, incorporate CITY approved recommendations, and revise the design to meet the Project budget, at no additional cost to CITY.

  • Construction Cost Estimate At 50% completion of the contract documents, the design team will present and submit copies of the project plans and manual. The Construction Administrator will prepare and issue the fourth of five construction cost estimates. The estimate shall be derived from actual takeoffs, subcontractor and vendor input, and material and labor cost data. All quantitative systems information shall be provided in detail.

  • Preliminary Cost Estimate Consulting Engineer/Architect shall furnish City an estimate of probable Construction Cost based on the preliminary design. Consulting Engineer/Architect's estimate of probable Construction Cost is to be made on the basis of Consulting Engineer/Architect's experience and qualifications and represent Consulting Engineer/Architect's best judgment as an experienced and qualified design professional, familiar with the construction industry.

  • Preliminary Cost Estimates The Engineer shall develop a preliminary cost estimate using the Average Low Bid Unit Price. The Engineer shall estimate the total project cost including preliminary engineering, final engineering, right-of-way (ROW) acquisition, environmental compliance and mitigation, construction, utility relocation, and construction engineering inspection (CEI).

  • Estimated Costs The proposed GMP Change Order shall include separately identified dollar amounts, stated as fixed sums, for Actual Costs as estimated by the Design-Builder for the complete construction of the Project, which amount shall include the all Trade Contract and Subcontract Sums, costs of materials, and any Component Change Order Sums;

  • Construction Phase Payments 10.3.1 Payments for Construction Phase Services shall be made as provided for in the UGSC and Owner’s Specifications. All payment requests shall be submitted through e- Builder® with a Schedule of Values and include all required attachments. Payment for approved Change Orders shall be made as part of Contractor’s Application for Payment. Failure to submit a Prime Contractor Progress Assessment Report form with each Application for Payment will cause rejection of the application by Owner and its return to Contractor.

  • Payment of Project Costs The Grantee agrees that it will provide for payment of its full share of Project costs and that all costs connected with the Project will be paid by the Grantee on a timely basis.

  • Estimated Cost Estimated costs by construction phases for Specified Roads listed in A7 are stated by segments in the Schedule of Items. Such estimated costs are subject to adjustment under B3.3, B5.2, B5.21, B5.212, B5.25, and B5.26. Appropriately adjusted costs shall be made a part of a revised Schedule of Items and shown as adjustments to Timber Sale Account. The revised Schedule of Items shall supersede any prior Schedule of Items when it is dated and signed by Contracting Officer and a copy is furnished to Purchaser.

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