Fees; Contract Sum; GMP. Owner shall pay CM/GC the Preconstruction Fee described in Article 6.2. In addition, for each Early Work Amendment executed by CM/GC and Owner, Owner shall pay CM/GC, as payment for the Early Work, an amount equal to the sum of the CM/GC Fee attributable to the Early Work, and the actual cost of all Early Work completed and accepted by Owner, but not exceeding the Early Work Price. If a GMP Amendment is executed, Owner shall pay CM/GC, as payment for the Work, the “Contract Sum” which shall equal the sum of the Preconstruction Fee, the CM/GC Fee, the actual cost of the Work including any Early Work, but not exceeding the GMP. The GMP shall be determined in accordance with the formula set forth below and as described in Article 6.3. The "Cost of the Work" is defined in Article 8. Costs in excess of the GMP shall be paid by the CM/GC without reimbursement by Owner. Changes to the GMP shall only be authorized by Amendment or Change Order that includes any necessary OSU or OSU General Counsel approvals. Preconstruction Fee + CM/GC Fee + Estimated Cost of the Work (Est. COW) = GMP* Cost Reimbursement % of Est. COW Includes CM/GC's Contingency and the $ Maximum Becomes Lump Sum Maximum Cost for GC Work *Formula assumes no Early Work is performed.
Fees; Contract Sum; GMP. Owner shall pay the CM/GC the Preconstruction Fee described in Article 6.2. In addition, for each Early Work Amendment executed by the CM/GC and Owner, Owner shall pay the CM/GC, as payment for the Early Work, an amount equal to the sum of the CM/GC Fee attributable to the Early Work, and the actual cost of all Early Work completed and accepted by Owner, but not exceeding the Early Work Price. If a GMP Amendment is executed, Owner shall pay the CM/GC, as payment for the Work, the “Contract Sum” which shall equal the sum of the Preconstruction Fee, the CM/GC Fee, the actual Cost of the Work including any Early Work, but not exceeding the GMP.
Fees; Contract Sum; GMP. Owner shall pay Contractor, as payment for the Work, the “Contract Sum” which shall equal the sum of the Contractor Fee, the actual cost of the Work but not exceeding the GMP. The GMP shall be determined in accordance with the formula set forth below and as described in Article 6.3. The "Cost of the Work" is defined in Article 8. Costs in excess of the GMP shall be paid by the Contractor without reimbursement by Owner. Changes to the GMP shall only be authorized by Amendment or Change Order that includes any necessary Owner approvals. Contractor Fee* plus Estimated Cost of the Work (Est COW) = GMP** % of Est. Includes Contractor's Contingency and the Per RFP Response Cost for GC Work * Contractor Fee is the composite of Fee/Performance & Payment Bond/Liability Insurance ** Formula assumes no Early Work is performed.
Fees; Contract Sum; GMP. The Owner shall pay the CM/GC a fee for the CM/GC’s performance of the Preconstruction Phase Services (the “Preconstruction Services”) as more particularly described in Article 6.2. In addition, for each Early Work Amendment executed by the Parties, the Owner shall pay the CM/GC, as payment for the Early Work, an amount equal to the sum of the CM/GC fee attributable to the Early Work, and the actual cost of all Early Work completed and accepted by the Owner, but not exceeding the Early Work Price.
