Common use of Preliminary Cost Estimates Clause in Contracts

Preliminary Cost Estimates. 3.8.1 Within twenty one (21) days after receipt of the Owner approved final schematic design documents, or prior to submittal of any Bid Release Recommendation, whichever is earlier, the Construction Manager shall prepare, for the Design Professional’s review and the Owner’s approval, an estimate of the Construction Cost of the project, including a completed CCCS, extending the preliminary requirements of Section 3.7.1.2 to include all phases of the Work. The CCCS shall include supporting data. When requested by the Owner or the Design Professional, during the preparation of the design development documents, the Construction Manager shall update and refine this estimate. 3.8.2 Within twenty one (21) days after design development documents for each bid package have been completed and approved by the Owner, the Construction Manager shall prepare an updated detailed cost estimate, again including supporting data, for review by the Design Professional and approval by the Owner. During the preparation of the construction documents, Construction Manager shall update and refine this estimate at appropriate intervals. 3.8.3 Upon notification by the Owner or Design Professional (orally or in writing) that the construction documents are ninety-five percent (95%) complete if a Guaranteed Maximum Price has not then been established, the Construction Manager shall again revise the cost estimate for each bid package category and shall deliver a copy for approval to the Owner and the Design Professional, together with supporting data within twenty one (21) days. 3.8.4 If any estimate submitted to the Owner exceeds the Fixed Limit of Construction Cost, the Construction Manager shall, without additional cost to the Owner, within twenty-one (21) days make recommendations to the Owner and the Design Professional as to how the Work can be completed within the Fixed Limit of Construction Cost. 3.8.4.1 The Construction Manager shall, in conjunction with the Design Professional, recommend and prepare for the Owner’s approval cost evaluations, including cost/benefit analyses, for alternative solutions when solutions proposed by the Design Professional appear unnecessarily costly or if it at any time appears that the construction estimate may exceed the Fixed Limit of Construction Cost. 3.8.5 All cost estimates shall be made in good faith and shall have a reasonable basis. All cost estimates shall, where the concepts are applicable, provide quantities and unit prices for each item of Work. 3.8.5.1 If the Construction Manager’s cost estimates differ in any material respect from any comparable cost estimate prepared by the Design Professional, the Construction Manager shall work with the Design Professional to promptly reconcile their estimates. If the Construction Manager and the Design Professional are unable to reconcile discrepancies in their estimates, the Construction Manager and the Design Professional shall agree as to the method of resolution. 3.8.6 If the Fixed Limit of Construction Cost is exceeded by either the latest Construction Manager and Design Professional reconciled estimates or the lowest bona fide bids when they become known, or both, the Owner may, at its option and at any time, elect to do any one or more of the following: (a) Cooperate with the Design Professional and the Construction Manager in revising the scope and quality of the Project as required to reduce the probable Construction Cost for the Project to within the limits of the Fixed Limit of Construction Cost; (b) Authorize rebidding within a reasonable time; (c) Give written approval of an increase in the Fixed Limit of Construction Cost or Guaranteed Maximum Price; (d) Suspend or terminate the Project. 3.8.7 When Section 3.8.6 is elected: 3.8.7.1 If the Owner elects to proceed under Section 3.8.6(a), the Design Professional will modify the Contract Documents as necessary to bring the Construction Cost within the Fixed Limit of Construction Cost without additional cost to the Owner, and the Construction Manager’s Lump Sum for Pre- Construction and Construction Personnel and the Construction Manager’s Fee shall not be increased. 3.8.7.2 If the Owner elects to authorize rebidding or to suspend or terminate the Project, the Construction Manager shall take all appropriate action to assist the Owner at no additional cost to the Owner. 3.8.7.3 If the Owner decides to increase funding partially or wholly to adjust for estimates or bids greater than the Fixed Limit of Construction Cost, as provided in Section 3.8.6(c), the Construction Manager’s Lump Sum Pre-Construction and Construction Personnel Charges and the Construction Manager’s Fee shall not be increased.

Preliminary Cost Estimates. 3.8.1 ‌ 3.7.1. Within twenty one (21) days after receipt of the Owner approved final schematic design documents, or prior to submittal of any Bid Release Recommendationbid release recommendation, whichever is earlier, the Construction Manager shall prepare, for the Design Professional’s review and the Owner’s approval, an estimate of the Construction Cost cost of the project, including a completed Construction Cost Control Summary (“CCCS”), extending a sample of which is attached to the preliminary requirements Schedule of Section 3.7.1.2 to include all phases of the Work. Project Details as Exhibit A. The CCCS shall include supporting data. When requested by the Owner or the Design Professional, during the preparation of the design development documents, the Construction Manager shall update and refine this estimate. 3.8.2 3.7.2. Within twenty one (21) days after design development documents for each bid package have been completed and approved by the Owner, the Construction Manager shall prepare an updated detailed cost estimate, again including supporting data, for review by the Design Professional and approval by the Owner. During the preparation of the construction documents, Construction Manager shall update and refine this estimate at appropriate intervals. 3.8.3 3.7.3. Upon notification by the Owner or Design Professional (orally or in writing) that the construction documents are ninety-five percent (95%) complete if a Guaranteed Maximum Price has not then been established, the Construction Manager shall again revise the cost estimate for each bid package category and shall deliver a copy for approval to the Owner and the Design Professional, together with supporting data within twenty one (21) days. 3.8.4 3.7.4. If any estimate submitted to the Owner exceeds the Fixed Limit of Construction Cost, the Construction Manager shall, without additional cost to the Owner, within twenty-one (21) days make recommendations to the Owner and the Design Professional as to how the Work can be completed within the Fixed Limit of Construction Cost. 3.8.4.1 .1 The Construction Manager shall, in conjunction with the Design Professional, recommend and prepare for the Owner’s approval cost evaluations, including cost/benefit analyses, for alternative solutions when solutions proposed by the Design Professional appear unnecessarily costly or if it at any time appears that the construction estimate may exceed the Fixed Limit of Construction Cost. 3.8.5 3.7.5. All cost estimates shall be made in good faith and shall have a reasonable basis. All cost estimates shall, where the concepts are applicable, provide quantities and unit prices for each item of Work. 3.8.5.1 .1 If the Construction Manager’s cost estimates differ in any material respect from any comparable cost estimate prepared by the Design Professional, the Construction Manager shall work with the Design Professional to promptly reconcile their estimates. If the Construction Manager and the Design Professional are unable to reconcile discrepancies in their estimates, the Construction Manager and the Design Professional shall agree as to the method of resolution. 3.8.6 3.7.6. If the Fixed Limit of Construction Cost is exceeded by either the latest Construction Manager and Design Professional reconciled estimates or the lowest bona fide bids when they become known, or both, the Owner may, at its option and at any time, elect to do any one or more of the following: (a) .1 Cooperate with the Design Professional and the Construction Manager in revising the scope and quality of the Project as required to reduce the probable Construction Cost Costs for the Project to within the limits of the Fixed Limit of Construction Cost; (b) .2 Authorize rebidding within a reasonable time; (c) ; .3 Give written approval of an increase in the Fixed Limit of Construction Cost or Guaranteed Maximum Price; (d) ; .4 Suspend or terminate the Project. 3.8.7 3.7.7. When Section 3.8.6 is elected: 3.8.7.1 If the Owner elects to proceed under Section 3.8.6(a), the Design Professional will modify the Contract Documents as necessary to bring the Construction Cost within the Fixed Limit of Construction Cost without additional cost to the Owner, and the Construction Manager’s Lump Sum for Pre- Construction and Construction Personnel and the Construction Manager’s Fee shall not be increased. 3.8.7.2 If the Owner elects to authorize rebidding or to suspend or terminate the Project, the Construction Manager shall take all appropriate action to assist the Owner at no additional cost to the Owner. 3.8.7.3 If the Owner decides to increase funding partially or wholly to adjust for estimates or bids greater than the Fixed Limit of Construction Cost, as provided in Section 3.8.6(c), the Construction Manager’s Lump Sum Pre-Construction and Construction Personnel Charges and the Construction Manager’s Fee shall not be increased.3.7.6

Preliminary Cost Estimates. 3.8.1 Within twenty one (21) days after receipt of the Owner approved final schematic design documents, or prior to submittal of any Bid Release Recommendation, whichever is earlier, the Construction Manager shall shallwill prepare, for the Design Professional’s review and the Owner’s approval, an estimate of the Construction Cost of the project, including a completed CCCS, extending the preliminary requirements of Section 3.7.1.2 to include all phases of the Work. The CCCS shall shallwill include supporting data. When requested by the Owner or the Design Professional, during the preparation of the design development documents, the Construction Manager shall shallwill update and refine this estimate. 3.8.2 Within twenty one (21) days after design development documents for each bid package have been completed and approved by the Owner, the Construction Manager shall shallwill prepare an updated detailed cost estimate, again including supporting data, for review by the Design Professional and approval by the Owner. During the preparation of the construction documents, Construction Manager shall shallwill update and refine this estimate at appropriate intervals. 3.8.3 Upon notification by the Owner or Design Professional (orally or in writing) that the construction documents are ninety-five percent (95%) complete if a Guaranteed Maximum Price has not then been established, the Construction Manager shall shallwill again revise the cost estimate for each bid package category and shall shallwill deliver a copy for approval to the Owner and the Design Professional, together with supporting data within twenty one (21) days. 3.8.4 If any estimate submitted to the Owner exceeds the Fixed Limit of Construction Cost, the Construction Manager shallshallwill, without additional cost to the Owner, within twenty-one (21) days make recommendations to the Owner and the Design Professional as to how the Work can be completed within the Fixed Limit of Construction Cost. 3.8.4.1 The Construction Manager shallshallwill, in conjunction with the Design Professional, recommend and prepare for the Owner’s approval cost evaluations, including cost/benefit analyses, for alternative solutions when solutions proposed by the Design Professional appear unnecessarily costly or if it at any time appears that the construction estimate may exceed the Fixed Limit of Construction Cost. 3.8.5 All cost estimates shall shallwill be made in good faith and shall shallwill have a reasonable basis. All cost estimates shallshallwill, where the concepts are applicable, provide quantities and unit prices for each item of Work. 3.8.5.1 If the Construction Manager’s cost estimates differ in any material respect from any comparable cost estimate prepared by the Design Professional, the Construction Manager shall shallwill work with the Design Professional to promptly reconcile their estimates. If the Construction Manager and the Design Professional are unable to reconcile discrepancies in their estimates, the Construction Manager and the Design Professional shall shallwill agree as to the method of resolution. 3.8.6 If the Fixed Limit of Construction Cost is exceeded by either the latest Construction Manager and Design Professional reconciled estimates or the lowest bona fide bids when they become known, or both, the Owner may, at its option and at any time, elect to do any one or more of the following: (a) Cooperate with the Design Professional and the Construction Manager in revising the scope and quality of the Project as required to reduce the probable Construction Cost for the Project to within the limits of the Fixed Limit of Construction Cost; (b) Authorize rebidding within a reasonable time; (c) Give written approval of an increase in the Fixed Limit of Construction Cost or Guaranteed Maximum Price; (d) Suspend or terminate the Project. 3.8.7 When Section 3.8.6 is elected: 3.8.7.1 If the Owner elects to proceed under Section 3.8.6(a), the Design Professional will modify the Contract Documents as necessary to bring the Construction Cost within the Fixed Limit of Construction Cost without additional cost to the Owner, and the Construction Manager’s Lump Sum for Pre- Construction and Construction Personnel and the Construction Manager’s Fee shall shallwill not be increased. 3.8.7.2 If the Owner elects to authorize rebidding or to suspend or terminate the Project, the Construction Manager shall shallwill take all appropriate action to assist the Owner at no additional cost to the Owner. 3.8.7.3 If the Owner decides to increase funding partially or wholly to adjust for estimates or bids greater than the Fixed Limit of Construction Cost, as provided in Section 3.8.6(c), the Construction Manager’s Lump Sum Pre-Construction and Construction Personnel Charges and the Construction Manager’s Fee shall shallwill not be increased.