Common use of FIXED LIMIT OF CONSTRUCTION COST EXCEEDED Clause in Contracts

FIXED LIMIT OF CONSTRUCTION COST EXCEEDED. 6.4.1 It is recognized that neither the Architect/Engineer nor the Principal Representative has control over the cost of labor, materials or equipment, over the subcontractors’ methods of determining bid prices, or over competitive bidding, market or negotiating conditions. Accordingly, the Architect/Engineer cannot and does not warrant or represent that bids or negotiated prices will not vary from the Project Budget or the Fixed Limit of Construction Cost. Nothing contained in this Agreement shall otherwise relieve the Architect/Engineer from the responsibility of providing the services required to keep the Project within the Fixed Limit of Construction Cost for the Project.