Guaranteed Project Cost. Contractor will cause the Project to be constructed within the Guaranteed Project Cost as set forth and defined in the Guaranteed Project Cost Provisions indicated in Exhibit C and Contractor will not seek additional compensation from District in excess of that amount.
Guaranteed Project Cost. 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.
Guaranteed Project Cost. Pursuant to the Facilities Lease, Developer will cause the Project to be constructed for One Million, one hundred fifty-eight thousand, seven hundred ninety-seven and 33/100 dollars $1,125,046.00 (“Guaranteed Project Cost”). Except as indicated herein for modifications to the Project approved by the District, Developer will not seek additional compensation from District in excess of Guaranteed Project Cost. District shall pay the Guaranteed Project Cost to Developer in the form of Tenant Improvement Payments and Lease Payments as indicated herein. The Guaranteed Project Cost includes the following components and as further detailed herein:
Guaranteed Project Cost. Contractor’s Guaranteed Project Cost (“GPC”) for performance of all work required by the Contract for the Project shall be $***Insert Data Here***, based upon the Scope of Work set forth in Exhibits A and B of this Agreement. Except as otherwise provided in the General Conditions, the Contractor shall assume the risk of all costs in excess of the GPC in the performance of such work and shall not be entitled to additional payments because of such excess costs. Should the Contractor believe that it is entitled to additional compensation, whether money or time, it must request it pursuant to the procedures in the General Conditions for change orders and claims. The GPC is also referred to in the Contract as the “Contract Sum.” The Contractor’s cost breakdown of the GPC is attached (see Exhibit C) as Contractor’s schedule of values for the Project, as required by Section 9.2.1.A of the General Conditions. ***Insert Data Here***[USE THE FOLLOWING PARAGRAPH IF GPC INCLUDES ALLOWANCES] The GPC shall include a line item for an allowance of $ (“Owner’s Contingency”) to fund extra work that may be required as a result of unforeseen scopes of work identified after execution of this Agreement (the “Additional Scope”). Only specifically identified unforeseen scopes shall be considered part of the Additional Scope. Contractor shall not be authorized to use these Contingency Funds for the Additional Scope without prior written approval by District. Any Contingency Funds not used for such purposes shall be credited to the District to reduce the GPC. If scope of the Additional Scope exceeds the Allowance Funds, Contractor is not precluded from seeking additional compensation pursuant to Section 4.5 and Article 7 of the General Conditions. Contractor shall finance the cost of construction of the Project, which costs shall not exceed the GPC, except as otherwise provided in the Contract. The Owner shall pay Contractor sublease payments pursuant to the terms and conditions of Section 6 of the Sublease (the "Sublease Payments"), which terms and conditions include the 5% retention described in Section 6 of the Sublease (the “retention”). The sum of the Sublease Payments shall not exceed the GPC established pursuant to Article IV hereof. Retention or release of the Sublease Payments shall be in accordance with the General Conditions.
