Common use of For Percentage-Based Fees Clause in Contracts

For Percentage-Based Fees. a. If the bid over-run is not greater than 10% of the budgeted Cost of the Work, the Designer will be compensated under Article 15, or as otherwise agreed, for revising the Revit Model, Drawings and Specifications. b. If the bid over-run is greater than 10% of the budgeted Cost of the Work and (i) the Owner has received bids for the Work within 90 days after final approval of the Revit Model, Drawings and Specifications and (ii) the reason that the over-run exceeds 10% of the budgeted Cost of the Work is not attributable to a unique or unexpected market condition which the Designer would not have reasonably contemplated in its estimates, the Designer agrees that it will make such revisions and changes to the plans and specifications, as well as perform the incidental work and furnish the number of necessary documents as required by the basic Agreement, as may be necessary to reduce the Cost of the Work to an amount not in excess of the funds available and agreeable to the Owner for the Cost of the Work, at no cost to the Owner. c. If the bid over-run is greater that 10% of the budgeted cost of the work, and the Owner decides to proceed with project by adding additional funds to cover the bid over-run in lieu of re-designing the project, the Designer shall only be compensated for Services A through D based on the fee for the original budgeted cost of the work. Compensation to the designer for services E shall be based on the cost of the work constructed.