Common use of Owner Contingency Clause in Contracts

Owner Contingency. The Owner Contingency shall be the sole property of the Owner established by multiplying the Cost of the Work, as first established within this Agreement, including General Conditions, XXXX contractor fee and XXXX contractor Site Office and Staffing costs by four percent (4.0%) or the sum of TBD Dollars ($ TBD .00). The Owner is under no obligation to increase the value of the Owner’s Contingency beyond the dollar value first established due to adjustments to the Contract Sum by Change Orders. With the prior written consent of the Owner, said Owner’s Contingency may be used to compensate the XXXX contractor for additional costs which are the results of:

Owner Contingency. The Owner Contingency shall be the sole property of the Owner established by multiplying the Cost of the Work, as first established within this Agreement, including General Conditions, XXXX contractor fee and XXXX contractor Site Office and Staffing costs by four percent (4.0%) or the sum of TBD Dollars ($ TBD .00). The Owner is under no obligation to increase the value of the Owner’s Contingency beyond the dollar value first established due to adjustments to the Contract Sum by Change OrdersAuthorization Request or Amendment. With the prior written consent of the Owner, said Owner’s Contingency may be used to compensate the XXXX contractor for additional costs which are the results of: