Owner’s Construction Contingency. The following lump sum amount shall serve as the Owner’s Construction Contingency from which changes in the Work are to be paid in accordance with the General Conditions: $250,000.00 The Owner’s Construction Contingency is controlled solely by the Owner. Expenditures from the Owner’s Construction Contingency must be made by Change Order issued by the Architect and approved by the Owner in accordance with the General Conditions. Contractor shall not be entitled to any compensation from the any unused amounts of the Owner’s Construction Contingency.
Owner’s Construction Contingency. This is a lump-sum amount from which contract changes may be funded in accordance with the UGC. Any unused amount will be deducted by the Owner from the Contract Sum by Change Order. DOLLARS ($ )
Owner’s Construction Contingency. The parties agree that the Owner’s Construction Contingency shall be as set forth in the GMP Amendment and shall reflect the Owner’s directed changes in the work which are not identified at the time the GMP is established. The Construction Manager shall not draw down the Owner’s Construction Contingency without Owner’s approval.
Owner’s Construction Contingency. 11.9.1 Owner’s Construction Contingency is a contingency fund created by Owner as part of the Contract Sum to cover the cost of unforeseen conditions that that develop during the Construction Phase. Expenditures from the Owner’s Construction Contingency must be approved in writing by the Owner by CEA.
