Guaranteed Maximum Price. The total monies payable to Developer under the terms and conditions of the Contract Documents.
Guaranteed Maximum Price. Developer will cause the Project to be constructed within the GMP as set forth and defined in the GMP provisions in Exhibit C, and Developer will not seek additional compensation from District in excess of that amount.
Guaranteed Maximum Price. Contractor will cause the Project to be constructed within the Guaranteed Maximum Price ("GMP") as set forth in the Contract Documents, and as calculated per Exhibit A to this Facilities Lease. District shall only be responsible for costs in addition to the GMP if:
(a) the District orders changes to the Work pursuant to Section 15 of the General Conditions after the GMP is established and such changes are not clarifications that could have reasonably inferred from the Plans and Specifications at the time of finalizing the GMP;
(b) costs increase due to Compensable Delays, each in a manner consistent with Section 14.01 of the General Conditions, or
(c) there are concealed or unknown Site conditions (including Pre-Existing Hazardous Materials) discovered after the execution of this Facilities Lease which could not reasonably have been foreseen by Contractor in its review of the Site and which require additional costs. Unless one of these conditions apply, in no event shall the cumulative total of the Tenant Improvement Payments, along with the balance of the Construction Contingency, District Contingency, Lease Payments and anticipated retention, ever exceed the GMP. The GMP includes the Lease Payments, which shall be paid by District, as set forth in Exhibit D. A "Construction Contingency" for Contractor's benefit shall be included in Exhibit A to this Facilities Lease. The Construction Contingency shall be a line item within the GMP. The Construction Contingency may be drawn upon only to cover Contractor's errors and omissions in its review of the Plans and Specifications to satisfy itself that said documents are adequate for the Project's construction, or errors and omissions in carrying out the Completion of the Project or for costs that are incurred in performing the Work that are not included in a specific line item or the basis for a Change Order under the Contract Documents. By way of example, and not as a limitation, such costs include scope gaps and work and material not explicitly stated but reasonably inferable from plans, subcontract buy-out gaps, delays in receipt of material (regardless of contractor’s fault), corrections in the work, and costs to correct damage or fixes resulting from activity without a clearly responsible party, and coordination issues. The Construction Contingency shall not be used for changes to the Work ordered by the District pursuant to Section 15 of the General Conditions. Once the Construction Contingency has been exh...
Guaranteed Maximum Price. The anticipated Guaranteed Maximum Price for the Project at the time this Agreement is executed is:
Guaranteed Maximum Price. The anticipated Guaranteed Maximum Price for the Project at the time this Agreement is executed is: Fifty-Two Million, Four Hundred Twenty-Eight Thousand and no/100 Dollars ($52,428,000.00);
Guaranteed Maximum Price. The Construction Manager guarantees that the Contract Sum shall not exceed the Guaranteed Maximum Price set forth in the Guaranteed Maximum Price Amendment, subject to additions and deductions by Change Order as provided in the Contract Documents. Costs which would cause the Guaranteed Maximum Price to be exceeded shall be paid by the Construction Manager without reimbursement by the Owner.
Guaranteed Maximum Price. As compensation for Developer’s construction of the Project, the District shall pay Developer pursuant to the terms of Exhibit C to the Facilities Lease. This is the total amount payable by the District to Developer for performance of the Work under the Contract.
Guaranteed Maximum Price. Pursuant to the Facilities Lease, Developer will cause the Project to be constructed for an amount to be determined after preconstruction services are completed (“Guaranteed Maximum Price”). The Guaranteed Maximum Price shall include the preconstruction fees and costs.
Guaranteed Maximum Price. The maximum amount that Owner is obligated to pay Design-Builder for construction of the Project under the GMP Change Order and includes all costs and fees to be paid to Design-Builder in connection with such the Work and the Project.
Guaranteed Maximum Price. 8.1 The Guaranteed Maximum Price shall consist of those applicable costs and fees set forth in 8.5 below, which shall include the cost of the work required by the Construction Documents, and the Construction Manager’s fee. The total Guaranteed Maximum Price is set forth in Article 9, herein. The GMP shall show these items separately, and all changes to the GMP made under the authority of other provisions of this Agreement shall also show these items separately. The GMP shall be established based on construction documents prepared by the Architect. The GMP is subject to modification for changes in the Work as provided in Article 11, herein.
8.2 The GMP will only include those taxes in the Cost of the Work which are legally enacted at the time the GMP is established.
8.3 If the Cost of the Work is such that the GMP is exceeded, the Construction Manager shall incur all such costs and there shall be no additional cost to, or reimbursement by, the Owner.
8.4 By execution of this Agreement, the Construction Manager certifies that all factual unit costs (supporting the fees specified in this Agreement) are accurate, complete, and current at the time of negotiations; and that any other factual unit costs that may be furnished the Owner in the future, to support any additional fees that may be authorized, will also be accurate and complete. The fees specified in this Agreement, and any additional fees that may be authorized in the future, shall be adjusted to exclude any significant sums which the Owner determines the fee was increased due to inaccurate, or non-current factual unit cost.
8.5 The Guaranteed Maximum Price (GMP) Proposal shall consist of the Cost of Work in the following:
8.5.1 Direct costs for performing construction, the actual cost of all subcontracts, materials and supply contracts, general conditions, fee, and any agreed to Owner’s Project contingency.
