Common use of Overhead and Profit for Construction Phase Clause in Contracts

Overhead and Profit for Construction Phase. For services provided during and related to the construction phase and general expenses of any kind as may be expressly included in Article 9 of Section 00700, the percent (%) Overhead and Profit shall be based upon the total of the Total of Div. 1-16, Construction Phase Fee and General Conditions as specified in Exhibit B and shall be paid proportionally to the ratio of the cost of the work in place, excluding stored materials and less retainage (see Article 11.2 of this Agreement), as it bears on the latest estimate of the total construction cost or to the GMP or to the Owners Construction Budget, whichever is less. The balance of the fee shall be paid when construction of the project is finally completed and occupancy of the project accepted by the Owner. If construction is authorized only for a part of the project, the fee paid shall be proportionate to the amount of work authorized by the Owner. The Construction Manager's exclusive remedy for any adjustments in the Overhead and Profit for Construction Phase is provided in Article 8.1.3.2 of this Agreement. 1. Costs and expenses included in the overhead and profit for the Construction Phase: (a) General operating expenses related to this project of the Construction Manager’s principal and branch offices. (b) The costs of all data processing staff. (c) General operating expenses incurred in the management and supervision of the project except as expressly included in Article 9. (d) Those services set forth in Article 2.3.12 of this Agreement (Job Site Requirements). 2. The Construction Manager will not be due any additional Overhead and Profit on increases in the Guaranteed Maximum Price (GMP) that do not exceed $300,000.00. Should the GMP be increased by more than $300,000.00 under the terms of Article 7 of the General Conditions hereinafter due to no fault of the Construction Manager, the Construction Manager’s additional Overhead and Profit for the Construction Phase of that portion of the accumulative increases in the GMP that exceed the GMP by more than $300,000.00 will be the same percent as the Overhead and Profit established in 8.1.3 of this Agreement.

Overhead and Profit for Construction Phase. For services provided during and related to the construction phase and general expenses of any kind as may be expressly included in Article 9 of Section 00700, the percent (%) Overhead and Profit shall be based upon the total of the Total of Div. 1-16, Construction Phase Fee and General Conditions as specified in Exhibit B and shall be paid proportionally to the ratio of the cost of the work in place, excluding stored materials and less retainage (see Article 11.2 of this Agreement), as it bears on the latest estimate of the total construction cost or to the GMP or to the Owners Construction Budget, whichever is less. The balance of the fee shall be paid when construction of the project is finally completed and occupancy of the project accepted by the Owner. If construction is authorized only for a part of the project, the fee paid shall be proportionate to the amount of work authorized by the Owner. The Construction Manager's exclusive remedy for any adjustments in the Overhead and Profit for Construction Phase is provided in Article 8.1.3.2 of this Agreement. 1. Costs and expenses included in the overhead and profit for the Construction Phase: (a) General operating expenses related to this project of the Construction Manager’s principal and branch offices. (b) The costs of all data processing staff. (c) General operating expenses incurred in the management and supervision of the project except as expressly included in Article 9. (d) Those services set forth in Article 2.3.12 of this Agreement (Job Site Requirements). 2. The Construction Manager will not be due any additional Overhead and Profit on increases in the Guaranteed Maximum Price (GMP) that do not exceed $300,000.00. Should the GMP be increased by more than $300,000.00 under the terms of Article 7 10 of the General Conditions this Agreement hereinafter due to no fault of the Construction Manager, the Construction Manager’s additional Overhead and Profit for the Construction Phase of that portion of the accumulative increases in the GMP that exceed the GMP by more than $300,000.00 will be the same percent as the Overhead and Profit established in 8.1.3 of this Agreement.