Common use of GUARANTEED MAXIMUM PRICE FOR CONSTRUCTION Clause in Contracts

GUARANTEED MAXIMUM PRICE FOR CONSTRUCTION. 7.1 When the construction design documents are sufficiently complete to establish the scope of work for the project or any phase or portion thereof, as generally defined by a design document listing to be provided by the Architect-Engineer and Construction Manager upon execution of this Agreement, which is to be used only as a guide in developing the specifications and plan data necessary to establish a Guaranteed Maximum Price, or at such time thereafter designated by the Owner, the Construction Manager will establish and submit in writing to the Owner for his approval a Guaranteed Maximum Price as described in the completed Exhibit B of the Request for Proposal Document, guaranteeing the maximum price to the Owner, for the construction cost of the project or designated part thereof. 7.2 The GMP will only include those taxes in the cost of the project, which are legally enacted at the time the GMP is established. 7.3 When the project is bid and 100% of the Trade Contracts have been executed, the contingency within the GMP may be decreased in proportion to the percent of the work completed. In other words, if 10% of the work has been completed and the Owner requests that the contingency within the GMP be adjusted, then 10% of the contingency within the GMP will be removed from the GMP by change order. 7.4 At the time of submission of a Guaranteed Maximum Price, 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, a GMP will include an agreed upon sum as the construction contingency which is included for the purpose of defraying the expenses due to unforeseen circumstances relating to construction. The Construction Manager will be required to furnish documentation evidencing expenditures charged to this contingency prior to the release of funds by the Owner. Documentation for use of the Contingency shall be determined by the Construction Team, included in the Project Manual and displayed monthly in the PMIS. The Architect- Engineer shall verify the actual costs. If bids are received below the applicable line items in the GMP, the surplus will be added to the contingency.

GUARANTEED MAXIMUM PRICE FOR CONSTRUCTION. 7.1 When the construction design documents are sufficiently complete to establish the scope of work for the a project or any phase or portion thereof, as generally defined by a design document listing to be provided by the Architect-Engineer and Construction Manager upon execution of this Agreement, which is to be used only as a guide in developing the specifications and plan data necessary to establish a Guaranteed Maximum Price, or at such time thereafter designated by the Owner, the Construction Manager will establish and submit in writing to the Owner for his approval a Guaranteed Maximum Price as described in the completed Exhibit B of the Request for Proposal DocumentPrice, guaranteeing the maximum price to the Owner, for the construction cost of the project or designated part thereof. Such Guaranteed Maximum Price will be subject to modification for changes in the project as provided in Article 10. However, the actual price paid for the work by the Owner shall be the actual cost of all work subcontracts, supply contracts, direct labor costs, direct supervision costs, and direct job costs as defined under Article 9, plus the Construction Manager's fees or the GMP, whichever is less when the work is complete. 7.2 The GMP will only include those taxes in the cost of the project, which project that are legally enacted at the time the GMP is established. Pursuant to Florida Statutes, the Owner is exempt from sales tax on the purchase of construction material. The Owner has elected to exercise this right and therefore directly purchase various construction material, supplies and equipment that may be a part of this Agreement for each Project and Activation. Such direct purchase shall be without any additional cost to Owner. The Owner shall, via Purchase Order (PO), purchase material, and the Contractor shall assist the Owner in the preparation of the Purchase Order. The Owner will purchase the material from Vendors selected by the Contractor for the price originally negotiated by the Contractor. All GMPs are to be submitted with all applicable taxes included. 7.3 The Construction Manager’s Contingency, established in the GMP, may be utilized, with the Owner’s concurrence, for the following reasons: A. Errors or omissions in the Construction Manager’s bidding and scoping processes. B. Reasonable schedule recovery. C. Means, methods, and materials reasonably inferred from the Construction Documents. D. Trade contractor non-performance or default after any bonding reimbursements have been recovered. E. Work not included in the construction documents which are necessary to cause the project to conform to applicable building codes but was not identified during the review of Construction Documents (through no fault of the Construction Manager). F. Other costs incurred by the Construction Manager that are not part of the Cost of the Work 7.4 When the project is bid and 100% the majority of the Trade Contracts have been executed, and 50% of the work has been completed, the original contingency amount stated within the GMP may be decreased by change order and made available for the Owner's use and at the Owner’s discretion in proportion to the percent of the work completed. In other words, if 10% The remaining contingency amount must be equal to or greater than the percentage of the remaining work has been completed to be performed by the Construction Manager as defined in the original scope of work. After bid and the Owner requests that the award to Trade Contractors, GMP buy-out savings shall be added to contingency within the GMP be adjusted, then 10% of the contingency within the GMP will be removed from the GMP by change orderand made immediately available to Owner. 7.4 7.5 At the time of submission of a Guaranteed Maximum Price, the Construction Manager will verify the time schedule for activities and work work, which were previously adopted by the Construction Team and used to determine the Construction Manager’s 's cost of work. In addition to the cost of work, a GMP will include an agreed upon sum as the construction contingency which is included for the purpose of defraying the expenses due to unforeseen circumstances relating to construction. The Construction Manager will be required to furnish documentation evidencing expenditures charged to this contingency prior to the release of funds by the Owner. Documentation for use of the Contingency shall be determined by the Construction TeamOwner, included reflected in the Project Manual and displayed monthly in the PMISmonthly report. The Architect- Architect/Engineer shall verify the actual costs. If bids are received below the applicable line items in the GMP, the surplus will be added to the contingency. If bids are received above the applicable line item in the GMP the deficiency will be taken from the contingency, however such events shall not be cause to increase the GMP. 7.6 If bids are not received for a portion of the work at or below the applicable line item amount in the GMP, the Construction Manager reserves the right to perform that portion of the work as acknowledged by the Owner or negotiate for its performance for the specified line item lump sum amount or less. 7.7 All costs savings for the not-to-exceed value of the GMP shall be returned to the Owner as part of the savings established when final accounting is submitted upon Final Completion of the Work, except as otherwise provided herein or agreed to by the Owner and Construction Manager. “Cost Savings” are the difference between the final GMP and (a) the documented Construction Manager’s Fee (b) the expended portions of the contingency, and c) the actual expenditures representing the Cost of the Work as defined in Article 9 herein. Liquidated damages, if any, are different from and are not a part of this calculation. Upon completion of the bidding period, the Construction Manager’s contingency will be adjusted so that it does not exceed the contingency percentage agreed upon in the original GMP proposal approved by the Owner. Cost savings resulting from favorable bids will be available for the Owner’s use immediately following the bidding period. Changes to the GMP funded by these savings are not eligible for additional Construction Manager’s Fee percentage. At the end of each project, any remaining contingency shall be refunded to Owner together with a proportionate share of the Construction Manager’s Fee as provided in 8.1.2 A.3.

GUARANTEED MAXIMUM PRICE FOR CONSTRUCTION. 7.1 When the construction design documents Documents are sufficiently complete to establish the scope of work for the a project or any phase or portion thereof, as generally defined by a design document listing to be provided by the Architect-Engineer and Construction Manager upon execution of this Agreement, which is to be used only as a guide in developing the specifications and plan data necessary to establish a Guaranteed Maximum PricePrice (“GMP”), or at such time thereafter designated by the Owner, the Construction Manager Contractor will establish and submit in writing to the Owner for his Owner’s approval a Guaranteed Maximum Price as described in the completed Exhibit B of the Request for Proposal DocumentGMP , guaranteeing the maximum price to the Owner, for the construction cost of the project or designated part thereof. Such GMP will be subject to modification for changes in the project as provided herein. However, the actual price paid for the work by the Owner shall be the actual cost of all work subcontracts, supply contracts, direct labor costs, direct supervision costs, and direct job costs as defined herein, plus Contractor's fees or the GMP, whichever is less when the work is complete. 7.2 The GMP will only include those taxes in the cost of the project, project which are legally enacted at the time the GMP is established. 7.3 When the project is bid and 100% of the Trade Contracts have been executed, the contingency within the GMP may shall be decreased in proportion to the percent of the work completed. In other words, if 10% of the work has been completed and the Owner requests that the contingency within the GMP be adjusted, then 10% of the contingency within the GMP will be removed from the GMP by change order. 7.4 At the time of submission of a Guaranteed Maximum PriceGMP, the Construction Manager Contractor will verify the time schedule for activities and work which were adopted by the Construction Team and used to determine the Construction Manager’s Contractor's cost of work. In addition to the cost of work, a GMP will include an agreed upon sum as the construction contingency which is included for the purpose of defraying the expenses due to unforeseen circumstances relating to construction. The Construction Manager Contractor will be required to furnish documentation evidencing expenditures charged to this contingency prior to the release of funds by the Owner. Approved contingency items may be included in the Cost of Work after Owner’s written authorization to proceed. The Contractor acknowledges and agrees that any work which is to be charged against the contingency that does not receive such prior written approval from the Owner shall be deemed to be part of Construction Contractor’s basic Work compensated within the GMP and not chargeable against the Owner’s Contingency. Documentation for use of the Contingency shall be determined by the Construction Team, included in the Project Manual and displayed monthly in the PMIS. The Architect- Architect-Engineer shall verify the actual costs. If bids are received below the applicable line items in the GMP, the surplus will be added to the contingency. If bids are received above the applicable line item in the GMP the deficiency will be taken from the contingency, however such events shall not be cause to increase the GMP. If bids are not received for a portion of the work at or below the applicable line item amount in the GMP, Contractor shall have the option to perform that portion of the work or negotiate for its performance for the specified line item lump sum amount or less.

GUARANTEED MAXIMUM PRICE FOR CONSTRUCTION. 7.1 Preparation of GMP - When the construction design documents Drawings and Specifications are sufficiently complete to establish the scope of work for the project Project or any phase or portion thereofthereof (which, as generally defined by a design document listing to be provided by in the Architect-Engineer and Construction Manager upon execution absence of this Agreement, which is to be used only as a guide in developing the specifications and plan data necessary to establish a Guaranteed Maximum Price, or at such time thereafter designated by the Owner’s express, written consent, shall be when the Drawings and Specifications are 100% complete), the Construction Manager will establish and submit in writing to the Owner for his approval a Guaranteed Maximum Price as described in the completed Exhibit B of the Request for Proposal DocumentPrice, guaranteeing the maximum price to the Owner, Owner for the construction cost of the project Project and the Construction Manager's fees. Such Guaranteed Maximum Price will be subject to modification for changes in the Project as provided in Article 10. However, any and all other provisions of this Contract (or designated part thereof. 7.2 any of the other Contract Documents) to the contrary notwithstanding, the actual price paid for the Work by the Owner shall be the actual cost of all Work subcontracts, supply contracts, direct labor costs, direct supervision costs, and direct costs as defined under Article 9, plus the Construction Manager’s fees, or the GMP, whichever is less when the Work is finally complete. Taxes Included in the GMP - The GMP will only include those taxes in the cost of the project, Project which are legally enacted at the time the GMP is established. 7.3 When the project is bid and 100% of the Trade Contracts have been executed, the contingency within the GMP may be decreased in proportion to the percent of the work completed. In other words, if 10% of the work has been completed and the Owner requests that the contingency within the GMP be adjusted, then 10% of the contingency within the GMP will be removed from the GMP by change order. 7.4 Construction Contingency - At the time of submission of a the Guaranteed Maximum Price, the Construction Manager will verify the time schedule for activities and work Work which were adopted by the Construction Team and used to determine the Construction Manager’s cost of workthe Work. In addition to the cost of workthe Work, a the GMP will include an a separately stated agreed upon sum as the construction contingency Construction Contingency which is included for the purpose of defraying the expenses due to unforeseen circumstances relating to construction, or for such other purposes as the Owner may choose. No Construction Manager Fee shall be charge against the construction contingency. This contingency shall reflect the estimated costs associated with unknown conditions that are common in remodeling projects. The use of the contingency is subject to the College’s prior written approval through the execution of Construction Change Directives. All contingency balances shall revert back to the College at the end of the project. The Construction Manager will be required to furnish documentation evidencing expenditures charged to this contingency the Construction Contingency prior to the release of funds by the Owner. Documentation necessary for use of the Construction Contingency by the Construction Manager shall be determined by the Construction Team, included in the Project Manual and displayed monthly in the PMIS. The Architect- Architect-Engineer shall verify the actual costs. If bids are received below above the applicable line items item in the GMP, the surplus deficiency will be added taken from the contingency, however such events shall not be caused to increase the GMP. If bids are not received for a portion of the Work at or below the applicable line item amount in the GMP, the Construction Manager reserves the right to perform that portion of the Work as acknowledged by the Owner or negotiate for its performance for the specified line item lump sum amount or less. Adjustment of Construction Contingency - When the GMP Amendment is executed, the Construction Contingency within the GMP may, at the Owner’s sole discretion, be decreased in proportion to the contingencypercent of the Work completed. In other words, if 10% of the Work has been completed and the Owner requests that the Construction Contingency be adjusted, then 10% of the Construction Contingency will be removed from the GMP by Change Order, and the GMP will be reduced by that amount. The Construction Manager agrees that no additional Fees or Overhead and Profit charges of any kind shall be requested, or due and owing in relation to any changes (whether initiated by Owner or otherwise) which utilize any portion of the Construction Contingency. Moreover, if the Owner exercises its rights under this paragraph to reduce the Construction Contingency (and correspondingly, the GMP) and subsequently a change is requested or necessary (whether Owner initiated or otherwise) which requires the use of all or some of such Construction Contingency funds for the Work, the Construction Manager shall neither request, nor be owed, any additional Fees or Overhead and Profit charges to the extent of the use of such Construction Contingency funds and, subject to the provisions of paragraph 8.1.2(a)(iii) below, shall not be entitled to any additional Fees or Overhead and Profit charges so long as the GMP agreed upon in the GMP Amendment (i.e. the originally agreed upon GMP) is not exceeded.

GUARANTEED MAXIMUM PRICE FOR CONSTRUCTION. 7.1 When the construction design documents Documents are sufficiently complete to establish the scope of work for the a project or any phase or portion thereof, as generally defined by a design document listing to be provided by the Architect-Engineer and Construction Manager upon execution of this Agreement, which is to be used only as a guide in developing the specifications and plan data necessary to establish a Guaranteed Maximum Price, or at such time thereafter designated by the Owner, the Construction Manager Contractor will establish and submit in writing to the Owner for his Owner’s approval a Guaranteed Maximum Price as described in the completed Exhibit B of the Request for Proposal DocumentPrice, guaranteeing the maximum price to the Owner, for the construction cost of the project or designated part thereof. Such Guaranteed Maximum Price will be subject to modification for changes in the project as provided herein. However, the actual price paid for the work by the Owner shall be the actual cost of all work subcontracts, supply contracts, direct labor costs, direct supervision costs, and direct job costs as defined herein, plus Contractor's fees or the GMP, whichever is less when the work is complete. 7.2 The GMP will only include those taxes in the cost of the project, project which are legally enacted at the time the GMP is established. 7.3 When the project is bid and 100% of the Trade Contracts have been executed, the contingency within the GMP may shall be decreased in proportion to the percent of the work completed. In other words, if 10% of the work has been completed and the Owner requests that the contingency within the GMP be adjusted, then 10% of the contingency within the GMP will be removed from the GMP by change order. 7.4 At the time of submission of a Guaranteed Maximum Price, the Construction Manager Contractor will verify the time schedule for activities and work which were adopted by the Construction Team and used to determine the Construction Manager’s Contractor's cost of work. In addition to the cost of work, a GMP will include an agreed upon sum as the construction contingency which is included for the purpose of defraying the expenses due to unforeseen circumstances relating to construction. The Construction Manager Contractor will be required to furnish documentation evidencing expenditures charged to this contingency prior to the release of funds by the Owner. Documentation for use of the Contingency shall be determined by the Construction Team, included in the Project Manual and displayed monthly in the PMIS. The Architect- Architect-Engineer shall verify the actual costs. If bids are received below the applicable line items in the GMP, the surplus will be added to the contingency. If bids are received above the applicable line item in the GMP the deficiency will be taken from the contingency, however such events shall not be cause to increase the GMP. If bids are not received for a portion of the work at or below the applicable line item amount in the GMP, Contractor shall have the option to perform that portion of the work or negotiate for its performance for the specified line item lump sum amount or less.

GUARANTEED MAXIMUM PRICE FOR CONSTRUCTION. 7.1 When the construction design documents are sufficiently complete to establish the scope of work for the project or any phase or portion thereof, as generally defined by a design document listing to be provided by the Architect-Engineer and 6.1 The Construction Manager upon execution of this Agreement, which is to be used only as shall submit a guide in developing the specifications and plan data necessary to establish a written Guaranteed Maximum Price, or at such time thereafter designated by the Owner, the Price (GMP) for Construction Manager will establish and submit in writing to the Owner for his approval when the Construction Documents are 100% complete, see Exhibit J to the Agreement. Work shall not commence prior to the issuance of a Guaranteed Maximum Price Building Permit by the Chief Building Official. This indicates that all mandatories have been met (defined as described in Building Department code requirements.) Further, the completed Exhibit B of agreed upon comments are required to be incorporated into the Request for Proposal Documentdrawings at this stage. When design review “approval” is withheld, guaranteeing the documents must be resubmitted. The GMP shall guarantee the maximum price to the Owner, 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 changes in the project as provided in Article 27 of the general conditions. However, the actual price paid for the Work by the Owner shall be the actual cost of all Work subcontracts, supply contracts, direct labor costs, direct supervision costs, and direct job costs as defined under Article 26 of the general conditions, plus the Construction Manager’s fees or the GMP, whichever is less when the Work is complete. OWNER SHALL NOT BE LIABLE FOR NOR SHALL IT PAY CONSTRUCTION MANAGER ANY SUMS IN EXCESS OF THE GUARANTEED MAXIMUM PRICE. CONSTRUCTION MANAGER AGREES THAT ANY AND ALL SAVINGS BELONG AND/OR REVERT BACK TO THE OWNER. 7.2 The GMP .1 At the time of submission of a GMP, the Construction Manager will only include those taxes in 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 project, GMP will include an agreed upon sum as the construction contingency which are legally enacted 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 GMP Construction Manager and Owner and/or unforeseen circumstances . The Construction Manager will be required to furnish documentation evidencing expenditures charged to this contingency prior to the release of funds by the Owner. The use of the contingency shall be subject to School Board approval as noted in General Conditions Article 1, Paragraph 1.1.12,if the amount requested exceeds Fifty thousand dollars ($50,000.00) prior to disbursal to Construction Manager. The use of the contingency where the request does not exceed Fifty thousand dollars ($50,000.00) shall be subject to the unanimous approval of the Deputy Superintendent, Facilities and Construction Management, Project Manager, Project Consultant, and Executive Director, Project Management, prior to disbursal to Construction Manager. In the event that there is establisheda disagreement amongst the Construction Manager and the aforementioned staff, the request for use of the contingency shall be determined by the Owner. Documentation for use of the Contingency shall be determined by the Owner, included in the Project Manual and displayed in the monthly applications for payment. The Project Consultant and Owner shall verify actual costs. If bids are received below the applicable line item of the GMP, the surplus shall be added to the contingency. All CUD’s arising from the same cause and conditions shall be combined into one (1) CUD whenever possible. 7.3 .2 When the project is bid and 100% of the Trade Contracts have been executed, the contingency within the GMP may shall be decreased in proportion to the percent of the work completedWork completed each month. In other words, if 10% of the work Work has been completed and the Owner requests that the contingency within the GMP be adjusted, then 10% of the contingency within the GMP will be removed from the GMP by change orderorder and will be moved to the Owners savings line item in the schedule of values. The Owner may utilize funds from the Owner saving line item in the Schedule of Values to fund added scope change orders. 7.4 At .3 If bids are received above the time of submission of a Guaranteed Maximum Priceapplicable line item in the GMP the deficiency will be taken from the contingency, however such event shall not be cause to increase 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, a GMP will include an agreed upon sum as the construction contingency which is included for the purpose of defraying the expenses due to unforeseen circumstances relating to constructionGMP. The Construction Manager will be required to furnish documentation evidencing expenditures charged to this contingency prior to the release of funds by the Owner. Documentation for use of the Contingency shall be determined by the Construction Team, included in the Project Manual and displayed monthly in the PMIS. The Architect- Engineer shall verify the actual costs. . .4 If bids are not received for a portion of the Work at or below the applicable line items item amount in the GMP, the surplus Construction Manager reserves the right to perform that portion of the Work as acknowledged by the Owner or negotiate for its performance for the specified line item lump sum amount in the preliminary schedule of values referenced in the GMP or less. All uses of the authorized contingency shall be authorized by Contingency Use Directive approved by the Owner before the contingency use is implemented. 6.2 The GMP will be added to only include those taxes in the contingencycost of the project which are legally enacted at the time the GMP is established. 6.3 The Construction Manager shall submit the GMP Addendum on the Owner’s approved form for approval by The School Board of Broward County, Florida. 6.4 IF THE GMP PROPOSAL IS UNACCEPTABLE TO THE OWNER, OWNER MAY TERMINATE THE CONSTRUCTION MANAGER AS SET FORTH IN ARTICLE 36 OF THE GENERAL CONDITIONS.

GUARANTEED MAXIMUM PRICE FOR CONSTRUCTION. 7.1 When the construction design documents Design Development Documents are sufficiently complete to establish the scope of work for the project or any phase or portion thereof, as generally defined by a design document listing to be provided by the Architect-Engineer and Construction Manager upon execution of this Agreement, which is to be used only as a guide in developing the specifications and plan data necessary to establish a Guaranteed Maximum Price, or at such time thereafter designated by the Owner, the Construction Manager will establish and submit in writing to the Owner for his approval a Guaranteed Maximum Price as described in the completed Exhibit B of the Request for Proposal DocumentPrice, guaranteeing the maximum price to the Owner, for the construction cost of the project Project or designated part portion thereof. The Guaranteed Maximum Price will be subject to modification for changes in the project as provided in Article 10. However, the actual price paid for the work by the Owner shall be the actual cost of all Work necessary for the Construction Manager to complete the Project, including subcontracts, supply contracts, direct labor costs, direct supervision costs, and direct job costs as defined under Article 9, plus the Construction Manager's fees or the GMP, whichever is less when the Work is complete. 7.2 The GMP will only include those taxes in the cost of the project, Project which are legally enacted applicable at the time the GMP is established. 7.3 When the project Project is bid and 100% of the Trade Contracts have been executed, the contingency within the GMP may be decreased in proportion to the percent of the work completed. In other words, if 10% of the work has been completed and the Owner requests that the contingency within the GMP be adjusted, then 10% of the contingency within the GMP will be removed from the GMP by change order. 7.4 At the time of submission of a Guaranteed Maximum Price, 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 's cost of work. In addition to the cost of work, a GMP will include an agreed upon sum as the construction contingency which is included for the purpose of defraying the expenses due to unforeseen circumstances relating to construction. The Construction Manager will be required to furnish documentation evidencing expenditures charged to this contingency prior to the release of funds by the Owner. Documentation for use of the Contingency shall be determined by the Construction Team, included in the Project Manual and displayed monthly in the PMIS. The Architect- Architect-Engineer shall verify the actual costs. If bids are received below the applicable line items in the GMP, the surplus will be added to the contingency. If bids are received above the applicable line item in the GMP the deficiency will be taken from the contingency, however such events shall not be cause to increase the GMP. If bids are not received for a portion of the work at or below the applicable line item amount in the GMP, the Construction Manager reserves the right to perform that portion of the work as acknowledged by the Owner or negotiate for its performance for the specified line item lump sum amount or less.

GUARANTEED MAXIMUM PRICE FOR CONSTRUCTION. 7.1 When the construction design documents are sufficiently complete to establish the scope of work for the project or any phase or portion thereof, as generally defined by The Total Program Manager shall submit a design document listing to be provided by the Architect-Engineer and Construction Manager upon execution of this Agreement, which is to be used only as a guide in developing the specifications and plan data necessary to establish a Guaranteed Maximum Price, or at such time thereafter designated by the Owner, the Construction Manager will establish and submit in writing to the Owner for his approval a written Guaranteed Maximum Price as described in (GMP) for Construction to the completed Exhibit B SBBC when the Total Program Manager has received bids for the construction Work under this agreement. A Notice to Proceed for Construction will be issued upon SBBC approval of the Request for Proposal DocumentGMP and when Construction Documents are complete as determined by the Facilities and Construction Management Division staff having issued either “approved” status, guaranteeing and, issuance of a Building Permit by the Chief Building Official. This indicates that all mandatories have been met (defined as Building Department code requirements.) When design review “approval” is withheld, the documents must be resubmitted. The GMP shall guarantee the maximum price to the Owner, for the construction cost of the project work(s) or designated part thereofthereof for each individual project in the program and shall be approved only by the SBBC. Such Guaranteed Maximum Price will be subject to modification for changes in the project(s) as provided in Article 27 of the general conditions except that the Total Program Manager’s Overhead/Profit shall be as set forth herein. However, the actual price paid for the Work by the SBBC shall be the actual cost of all Work subcontracts, supply contracts, direct labor costs, direct supervision costs, and direct job costs as defined under Article 26 of the general conditions, plus the Total Program Manager’s fees or the GMP, whichever is less when the Work is complete. SBBC SHALL NOT BE LIABLE FOR NOR SHALL IT PAY TOTAL PROGRAM MANAGER ANY SUMS IN EXCESS OF THE GUARANTEED MAXIMUM PRICE. TOTAL PROGRAM MANAGER AGREES THAT ANY AND ALL SAVINGS BELONG AND/OR REVERT BACK TO THE SBBC. 7.2 A. The GMP will only include those taxes in the cost of the project, work which are legally enacted at the time the GMP is established. 7.3 B. At the time of submission of a Guaranteed Maximum Price, the Total Program Manager will verify the time schedule for activities and work which were approved by the Owner and used to determine the Total Program 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 Total Program Manager and Owner and/or unforeseen circumstances. The Total Program Manager shall submit the GMP Addendum on the Owner’s approved form for approval by The School Board of Broward County, Florida. C. SBBC will issue a single GMP Addendum for the Total Program. D. IF THE GMP PROPOSAL IS UNACCEPTABLE TO THE OWNER, OWNER MAY TERMINATE THE TOTAL PROGRAM MANAGER AS SET FORTH IN ARTICLE 36 OF THE GENERAL CONDITIONS. E. The Total Program Manager may proceed to purchase [cost of buildings only] factory fabricated buildings [off site] prior to the Final GMP approval for the project(s) if the costs of the buildings are within the Owner approved construction budget(s) and the Deputy Superintendent, Facilities and Construction Management approves in writing. F. When the project is bid and 100% of the Trade Contracts have been executed, the contingency within the GMP may shall be decreased in proportion to the percent of the work completedWork completed each month. In other words, if 10% of the work Work has been completed and the Owner requests that the contingency within the GMP be adjusted, then 10% of the contingency within the GMP will be removed from the GMP by change orderorder and will be moved to the Owners savings line item in the schedule of values. The Owner may utilize funds from the Owner saving line item in the Schedule of Values to fund added scope change orders. 7.4 At the time of submission of a Guaranteed Maximum Price, the Construction G. Total Program 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, shall submit a GMP will Manual with the proposed GMP Addendum which shall include an agreed upon sum as at a minimum the construction contingency which is included for the purpose following: 1) Transmittal Letter 2) Summary of defraying the expenses due to unforeseen circumstances relating to construction. The GMP 3) List of Construction Manager will be required to furnish documentation evidencing expenditures charged to this contingency prior to the release of funds by the Owner. Documentation for use of the Contingency shall be determined by the Construction Team, included in the Project Manual and displayed monthly in the PMIS. The Architect- Engineer shall verify the actual costs. If bids are received below the applicable line items in the GMP, the surplus will be added to the contingency.Documents 4) CPM Schedule

GUARANTEED MAXIMUM PRICE FOR CONSTRUCTION. 7.1 When the construction design documents are sufficiently complete to establish the scope of work for the a project or any phase or portion thereof, as generally defined by a design document listing to be provided by the Architect-Engineer and Construction Manager upon execution of this Agreement, which is to be used only as a guide in developing the specifications and plan data necessary to establish a Guaranteed Maximum Price, or at such time thereafter designated by the Owner, the Construction Manager will establish and submit in writing to the Owner for his approval a Guaranteed Maximum Price as described in the completed Exhibit B of the Request for Proposal DocumentPrice, guaranteeing the maximum price to the Owner, for the construction cost of the project or designated part thereof. Such Guaranteed Maximum Price will be subject to modification for changes in the project as provided in Article 10. However, the actual price paid for the work by the Owner shall be the actual cost of all work subcontracts, supply contracts, direct labor costs, direct supervision costs, and direct job costs as defined under Article 9, plus the Construction Manager's fees or the GMP, whichever is less when the work is complete. 7.2 The GMP will only include those taxes in the cost of the project, which project that are legally enacted at the time the GMP is established. Pursuant to Florida Statutes, the Owner is exempt from sales tax on the purchase of construction material. The Owner has elected to exercise this right and therefore directly purchase various construction material, supplies and equipment that may be a part of this Agreement for each Project and Activation. Such direct purchase shall be without any additional cost to Owner. The Owner shall, via Purchase Order (PO), purchase material, and the Contractor shall assist the Owner in the preparation of the Purchase Order. The Owner will purchase the material from Vendors selected by the Contractor for the price originally negotiated by the Contractor. All GMPs are to be submitted with all applicable taxes included. 7.3 The Construction Manager’s Contingency, established in the GMP, may be utilized, with the Owner’s concurrence, for the following reasons: A. Errors or omissions in the Construction Manager’s bidding and scoping processes. B. Reasonable schedule recovery. X. Xxxxx, methods, and materials reasonably inferred from the Construction Documents. D. Trade contractor non-performance or default after any bonding reimbursements have been recovered. E. Work not included in the construction documents which are necessary to cause the project to conform to applicable building codes but was not identified during the review of Construction Documents (through no fault of the Construction Manager). F. Other costs incurred by the Construction Manager that are not part of the Cost of the Work 7.4 When the project is bid and 100% the majority of the Trade Contracts have been executed, and 50% of the work has been completed, the original contingency amount stated within the GMP may be decreased by change order and made available for the Owner's use and at the Owner’s discretion in proportion to the percent of the work completed. In other words, if 10% The remaining contingency amount must be equal to or greater than the percentage of the remaining work has been completed to be performed by the Construction Manager as defined in the original scope of work. After bid and the Owner requests that the award to Trade Contractors, GMP buy-out savings shall be added to contingency within the GMP be adjusted, then 10% of the contingency within the GMP will be removed from the GMP by change orderand made immediately available to Owner. 7.4 7.5 At the time of submission of a Guaranteed Maximum Price, the Construction Manager will verify the time schedule for activities and work work, which were previously adopted by the Construction Team and used to determine the Construction Manager’s 's cost of work. In addition to the cost of work, a GMP will include an agreed upon sum as the construction contingency which is included for the purpose of defraying the expenses due to unforeseen circumstances relating to construction. The Construction Manager will be required to furnish documentation evidencing expenditures charged to this contingency prior to the release of funds by the Owner. Documentation for use of the Contingency shall be determined by the Construction TeamOwner, included reflected in the Project Manual and displayed monthly in the PMISmonthly report. The Architect- Architect/Engineer shall verify the actual costs. If bids are received below the applicable line items in the GMP, the surplus will be added to the contingency. If bids are received above the applicable line item in the GMP the deficiency will be taken from the contingency, however such events shall not be cause to increase the GMP. 7.6 If bids are not received for a portion of the work at or below the applicable line item amount in the GMP, the Construction Manager reserves the right to perform that portion of the work as acknowledged by the Owner or negotiate for its performance for the specified line item lump sum amount or less. 7.7 All costs savings for the not-to-exceed value of the GMP shall be returned to the Owner as part of the savings established when final accounting is submitted upon Final Completion of the Work, except as otherwise provided herein or agreed to by the Owner and Construction Manager. “Cost Savings” are the difference between the final GMP and (a) the documented Construction Manager’s Fee (b) the expended portions of the contingency, and c) the actual expenditures representing the Cost of the Work as defined in Article 9 herein. Liquidated damages, if any, are different from and are not a part of this calculation. Upon completion of the bidding period, the Construction Manager’s contingency will be adjusted so that it does not exceed the contingency percentage agreed upon in the original GMP proposal approved by the Owner. Cost savings resulting from favorable bids will be available for the Owner’s use immediately following the bidding period. Changes to the GMP funded by these savings are not eligible for additional Construction Manager’s Fee percentage. At the end of each project, any remaining contingency shall be refunded to Owner together with a proportionate share of the Construction Manager’s Fee as provided in 8.1.2 A.3.

GUARANTEED MAXIMUM PRICE FOR CONSTRUCTION. 7.1 When the construction design documents are sufficiently complete to establish the scope of work for the project Project or any phase or portion thereof, as generally defined by a design document listing to be provided by the Architect-Engineer Architect‑Engineer and Construction Manager upon execution of this Agreement, which is to be used only as a guide in developing for the Owner's approval the specifications and plan data necessary to establish a Guaranteed Maximum PricePrice (GMP), or at such time thereafter designated by the Owner, the Construction Manager will establish and submit in writing to the Owner for his approval a Guaranteed Maximum Price as described in the completed Exhibit B of the Request for Proposal DocumentPrice, guaranteeing the maximum price to the Owner, for the construction cost of the project Project or designated part thereof. The Construction Manager acknowledges multiple GMPs may be required for the portions of the Project to support the project phasing and schedule. Such Guaranteed Maximum Price will be subject to modification for changes in the Project as provided in Article 10. However, the actual price paid for the work by the Owner shall be the actual cost of all work subcontracts, supply contracts, direct labor costs, direct supervision costs, and direct job costs as defined under Article 9, plus the Construction Manager's costs and fees, or the GMP, whichever is less when the work is complete. 7.2 The GMP will only include those taxes in the cost of the projectProject, which are legally enacted at the time the GMP is established. 7.3 When the project is bid and 100% of the Trade Contracts have been executed, the contingency within the GMP may be decreased in proportion to the percent of the work completed. In other words, if 10% of the work has been completed and the Owner requests that the contingency within the GMP be adjusted, then 10% of the contingency within the GMP will be removed from the GMP by change order. 7.4 At the time of submission of a Guaranteed Maximum Price, the Construction Manager will verify the time schedule for activities and work work, which were adopted by the Construction Team and used to determine the Construction Manager’s 's cost of work. In addition to Included in the cost of work, a GMP will include an agreed upon sum as the construction contingency be a Contractor’s Contingency, which is included for the Construction Manager to use, with the Owner’s consent. The contingency is intended to cover the costs associated with Project scope that was not adequately detailed at the time of GMP. The Contractor’s Contingency is also intended to protect against price increases between the GMP and the completion of the 100% construction documents, as well as for the purpose of defraying the expenses due to unforeseen circumstances relating to constructionconstruction and for price increases attributable to any code compliance reviews. The Construction Manager will be required to furnish documentation evidencing expenditures charged to this contingency Contractor’s Contingency prior to the release of funds by the Owner. Documentation for use of the Contractor’s Contingency shall be determined by the Construction Team, included in the Project Manual and displayed monthly in the PMIS. The Architect- Engineer Architect‑Engineer shall verify the actual costs. If there are funds remaining in the Contractor’s Contingency at the conclusion of the Project, said funds will be returned to the Owner, via a deductive change order. 7.4 If the net amount of the buyout results in a savings, the savings will be assigned to the Owner’s Buyout Contingency as defined in Article 7.5 If bids are not received for a portion of the work at or below the applicable line items item amount in the GMP, the surplus Construction Manager reserves the right to perform that portion of the work or negotiate for its performance for the specified line item lump sum amount or less. 7.5 The Owner’s Buyout Contingency shall be created by savings generated by Subcontractor buyout (Article 7.4) and also by reductions in scope that otherwise could reduce the GMP. The intent of this Owner’s Buyout Contingency is to allow funds already within the GMP to remain in the GMP and be used at the Owner’s discretion for scope issues that may become required and/or desired during the course of the Project. Authorizations up to $25,000.00 (twenty-five thousand dollars & 0/100)), for the use of the Owner’s Buyout Contingency, will be added to granted by the contingencyCity Manager. Authorizations, for more than $25,000.00 (twenty-five thousand dollars & 0/100)),, will be granted by the Board.

GUARANTEED MAXIMUM PRICE FOR CONSTRUCTION. 7.1 When the construction design documents are sufficiently complete to establish the scope of work for the project or any phase or portion thereof, as generally defined by a design document listing to be provided by the Architect-Engineer and Construction Manager upon execution of this Agreement, which is to be used only as a guide in developing the specifications and plan data necessary to establish a Guaranteed Maximum Price, or at At such time thereafter designated by the Owner, the Construction Manager Contractor will establish and submit in writing to the Owner for his approval approval, a Guaranteed Maximum Price as described in the completed Exhibit B of the Request for Proposal DocumentPrice, guaranteeing the maximum price to the Owner, for the construction cost of the project Project or designated part thereof. Such Guaranteed Maximum Price shall only be subject to modification for changes in the Project as provided in Article 10. However, the actual price paid for the work by the Owner shall either be: (1) the actual cost of all subcontracts, supply contracts, general conditions fee and direct job costs, as defined under Article 9, plus the Contractor's fees, or (2) the GMP, whichever is the lesser when the work is finally complete. 7.2 The GMP will only include those applicable taxes in the cost of the project, Project which are legally enacted at the time the GMP is established. Should any taxes be enacted after the GMP, then the GMP shall be increased by the same amount. 7.3 When the project Project is bid and 100% of the Trade Contracts Subcontracts have been executed, the contingency within the GMP may shall be decreased in proportion to the percent of the work as it is completed. In other words, if 10% of the work has been completed and all Subcontracts have been executed, and the Owner requests that the contingency thecontingency within the GMP be adjusted, then 10% of the contingency within the GMP will be removed from the GMP by change order. At such time that the contingency equals 10% of its original sum, no further funds will be deducted by change order until the Project is 100% complete and accepted. 7.4 At the time of submission of a Guaranteed Maximum Price, the Construction Manager Contractor will verify the time schedule for activities and work which were adopted by the Construction Team and used to determine the Construction Manager’s Contractor's cost of work. In addition to the cost of work, a GMP will include an agreed upon sum 3% of $16,500,000 as the construction contingency which is included for the purpose of defraying the expenses due to unforeseen circumstances relating to construction. The Construction Manager Contractor will be required to furnish documentation evidencing expenditures charged to this contingency prior to the release of funds by the OwnerOwner and will not be unreasonably withheld. Documentation for use of the Contingency contingency shall be determined by the Construction Team, included in the Project Manual Policy and Procedure Manual, and displayed monthly in the PMIS. The Architect- Engineer shall verify the actual costs. If bids are received below the applicable line items in the GMP, GMP the surplus will be added to the contingency, until or unless released pursuant to Article 7.3. If bids are received above the applicable line item in the GMP the deficiency will be taken from contingency; however, such events shall not because to increase the GMP. If any bid package consistent with the Drawings and Specifications for which the lowest price submitted by a Subcontractor is in excess of the amount allocated by the Contractor for such bid package, (unless Owner through Change order changes the Scope of Work and the Guaranteed Maximum Price, one of the following shall occur: (I) the price of the bid package shall be negotiated, subject to Owner's approval, with the lowest responsive bidder, or (2) re-bid to the end that such bid package becomes equal to, or less than Contractor estimate for that package, or (3) at Contractor's option, the Contractor may perform the work under a separate arrangement in order to protect the Guaranteed Maximum Price; or (4) at the Owner's sole option to achieve such price equality, Owner may require Architect-Engineer to make certain changes in the Drawings and Specifications as are necessary to bring that particular package into line, consistent with Owner's program and the Project's financial feasibility. Delays resulting from re-bid caused by any action, inaction, or negligence by the Contractor shall not be grounds for extension of substantial completion.

GUARANTEED MAXIMUM PRICE FOR CONSTRUCTION. 7.1 When the construction design documents Design Development Documents are sufficiently complete to establish the scope of work for the project or any phase or portion thereof, as generally defined by a design document listing to be provided by the Architect-Engineer and Construction Manager upon execution of this Agreement, which is to be used only as a guide in developing the specifications and plan data necessary to establish a Guaranteed Maximum Price, or at such time thereafter designated by the Owner, the Construction Manager will establish and submit in writing to the Owner for his approval a Guaranteed Maximum Price as described in the completed Exhibit B of the Request for Proposal DocumentPrice, guaranteeing the maximum price to the Owner, for the construction cost of the project or designated part thereof. Such Guaranteed Maximum Price will be subject to modification for changes in the project as provided in Article 10. However, the actual price paid for the work by the Owner shall be the actual cost of all work subcontracts, supply contracts, direct labor costs, direct supervision costs, and direct job costs as defined under Article 9, plus the Construction Manager's fees or the GMP, whichever is less when the work is complete. 7.2 The GMP will only include those taxes in the cost of the project, project which are legally enacted at the time the GMP is established. 7.3 When the project is bid and 100% of the Trade Contracts have been executed, the contingency within the GMP may be decreased in proportion to the percent of the work completed. In other words, if 10% of the work has been completed and the Owner requests that the contingency within the GMP be adjusted, then 10% of the contingency within the GMP will be removed from the GMP by change order. The Owner's decision to not reduce such contingency shall not be deemed a waiver of its right to do so at a later date. 7.4 At the time of submission of a Guaranteed Maximum Price, the Construction Manager will verify the time schedule for activities and work which were previously adopted by the Construction Team pursuant to this agreement and used to determine the Construction Manager’s 's cost of work. In addition to the cost of work, a GMP will include an agreed upon sum as the construction contingency which is included for the purpose of defraying the expenses due to unforeseen circumstances relating to construction. The Construction Manager will be required to furnish documentation evidencing expenditures charged to this contingency prior to the release of funds by the Owner. Documentation for use of the Contingency contingency shall be determined by the Construction TeamOwner, included reflected in the Project Manual and displayed monthly in the PMIS. The Architect- Architect-Engineer shall verify the actual costs. If bids are received below the applicable line items in the GMP, the surplus will be added to the contingency. If bids are received above the applicable line item in the GMP, the deficiency will be taken from the contingency; however, such events shall not be cause to increase the GMP. If bids are not received for a portion of the work at or below the applicable line item amount in the GMP, the Construction Manager reserves the right to perform that portion of the work as acknowledged by the Owner or negotiate for its performance for the specified line item lump sum amount or less. The GMP, Construction Manager's fee, and all costs to complete the construction for the first phase shall be set forth and included as an attachment to this agreement.