Fee for Change Orders Sample Clauses
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Fee for Change Orders. In the event that the Owner approves an additive change in the work the Construction Manager shall receive from the Owner, as the amount for Construction Phase Fee, Overhead and Profit, and, bonds the percentage indicated above in Article 7.1. This amount shall be the Construction Manager’s exclusive remedy for such changes in the Work.
6.1 The Construction Manager shall submit a written Guaranteed Maximum Price (GMP) for Construction to the Owner when the Construction Documents are 100% complete, see Exhibit J to the Agreement. Work shall not commence prior to the issuance of a Building Permit by the Chief Building Official. This indicates that all mandatories have been met (defined as Building Department code requirements.) Further, the agreed upon comments are required to be incorporated into the drawings at this stage. When design review “approval” is withheld, the documents must be resubmitted. The GMP shall guarantee the maximum price for the construction cost of the project or designated part thereof, for phased projects, and shall be approved by the Owner. Such Guaranteed Maximum Price will be subject to modification for 2.5.8 If the Guaranteed Maximum Price received from the Construction Manager (as that term is defined in the Agreement between Owner and Construction Manager) exceeds the Fixed Limit of Construction Cost the Owner will either: .1 Approve the increase of Project costs and approve GMP or, .2 Direct the Project Consultant to revise the Project scope or quality, or both, as approved by the Owner, and the Construction Manager will rebid the Project, or .3 Suspend or abandon the Project, or .4 Bid out the project to another CM At Risk Construction Manager or General Contractor.
6.1 At the time of submission of a GMP, the Construction Manager will verify the time schedule for activities and work which were adopted by the Construction Team and used to determine the Construction Manager’s cost of Work. In addition to the cost of Work, the GMP will include an agreed upon sum as the construction contingency which is included for the purpose of accounting for unforeseen increases or decreases in the construction cost at the time bids are received and approved by the Construction Manager and Owner and/or unforeseen circumstances
Fee for Change Orders. 3.2.1 The City and the Consultant may agree in writing on the applicable Additional Fees for any additional Services required as a result of a Change Order.
3.2.2 If a Change Order results in a reduction of the Services to be performed by the Consultant, the total Component Fee or Total Fee, as applicable, payable by the City shall be adjusted accordingly.
Fee for Change Orders. In the event that the Owner approves an additive change in the work the Construction Manager shall receive from the Owner, as the amount for Construction Phase Fee, Overhead and Profit, and, bonds the percentage indicated above in Article 7.1. This amount shall be the Construction Manager’s exclusive remedy for such changes in the Work.