Common use of RESPONSIBILITY FOR PROJECT COST Clause in Contracts

RESPONSIBILITY FOR PROJECT COST. 4.2.1 Evaluations of the Owner's Project budget, Statements of Probable Project Cost, and detailed estimates of Project cost, if any, represent the Architect's best judgment as a design professional familiar with interior design. It is recognized, however, that neither the Architect nor the Owner has any control over the cost of labor, materials, furniture, furnishings, or equipment, over the Contractor's methods of determining bid prices, or over competitive bidding, market, or negotiating conditions. Accordingly, the Architect cannot and does not warrant or represent that bids or negotiated prices will not vary from the Project budget proposed, established, or approved by the Owner, if any, or from any Statement of Probable Project Cost or other cost estimates or evaluation prepared or reviewed by the Architect. 4.2.2 No fixed limit of Project cost shall be established as a condition of this Agreement by the furnishing, proposal or establishment of a Project budget under Subparagraph 1.2.3 or Paragraph 3.2 or otherwise, unless such fixed limit has been agreed upon in writing and signed by the parties hereto. If such a fixed limit has been established, the Architect shall be permitted to include contingencies for design, bidding, and price escalation, to determine what materials, furniture, furnishings, and equipment, finishes, component systems, and types of construction are to be included in the Contract Documents, to make reasonable adjustments in the scope of the Project and to include in the Contract Documents alternate bids to adjust the Project Cost to the fixed limit. Any such fixed limit shall be increased in the amount of any increase in the Contract Sum occurring after execution of the Contracts and has been agreed to by the parties in writing. 4.2.3 If Bidding or Negotiating has not commenced within three months after the Architect submits the proposed Contract Documents to the Owner, any Project budget or fixed limit of Project Cost shall be adjusted in writing and agreed to by the parties to reflect any change in the general level of prices which may have occurred in the industry between the date of submission of the Contract Documents to the Owner and the date on which proposals are sought. 4.2.4 If a Project budget or fixed limit of Project Cost (adjusted as provided in Subparagraph 4.2.3) is exceeded by the lowest bona fide bids or negotiated proposals, the Owner shall (1) give written approval of an increase in such fixed limit, (2) authorize rebidding or renegotiating of the Project within a reasonable time, (3) if the Project is abandoned, terminate in accordance with Paragraph 12.2, or (4) cooperate in revising the Project scope and quality as required to reduce the Project cost. In the case of (4), provided a fixed limit of Project cost has been established as a condition of this Agreement, the Architect, without additional charge, shall modify the Drawings, Schedules, and Specifications as necessary to comply with the fixed limit unless Architect's design was previously determined to be within the Project budget by the Owner's Contractor, at which time Architect will be entitled to additional compensation for such revisions. The providing of such service shall be the limit of the Architect's responsibility arising from the establishment of such fixed limit, and having done so, the Architect shall be entitled to compensation for all services performed, in accordance with this Agreement, whether or not the Contract Administration Phase is commenced.

RESPONSIBILITY FOR PROJECT COST. 4.2.1 5.2.1 Evaluations of the OwnerDEMARCO's Project budget, Statements preliminary estimates of Probable Project Cost, Xxxxxxx Cost and detailed estimates of Project cost, if any, Cost prepared by the Project Manager represent the ArchitectProject Manger's best judgment judgement as a design professional person or entity familiar with interior designthe Project industry. It is recognized, however, that neither the Architect Project Manager nor the Owner DEMARCO has any control over the cost of labor, materials, furniture, furnishings, or equipmentmaterials xx xxuipment, over the Contractor's methods of determining bid prices, or over competitive bidding, market, market or negotiating conditions. Accordingly, the Architect Project Manager cannot and does not warrant or represent that bids or negotiated prices will not vary from the Project budget proposed, established, established or approved by the Owner, if anyDEMARCO, or from any Statement of Probable Project Cost or other cost estimates estimate or evaluation prepared or reviewed xxxxxxed by the ArchitectProject Manger. 4.2.2 5.2.2 No fixed limit of Project cost Cost shall be established as a condition of this Agreement by the furnishing, proposal or establishment of a Project budget under Subparagraph 1.2.3 or Paragraph 3.2 or otherwise, unless such fixed limit has been agreed upon in writing and signed by the parties hereto. If such a fixed limit has been established, the Architect Project Manager shall be permitted to include contingencies for design, bidding, and price escalation, and shall consult with DEMARCO to determine what materials, furniture, furnishings, and equipment, finishes, component systems, cxxxxxxxt systems and types of construction Project are to be included in the Contract Project Documents, to make reasonable adjustments suggest inclusion of alternate bids in the scope of the Project and to include in the Contract Documents alternate bids to adjust the Project Cost to the fixed limit. Any such fixed limit Fixed limits, if any, shall be increased in the amount of any increase in the Contract Sum Sums occurring after execution of the Contracts and has been agreed to by the parties in writingfor Project. 4.2.3 5.2.3 If the Bidding or Negotiating Phase has not commenced within three months 90 days after submittal of the Architect submits the proposed Contract Project Documents to the OwnerDEMARCO, any Project budget or fixed limit of Project Cost shall Xxxx xhall be adjusted in writing and agreed to by the parties to reflect any change changes in the general level of prices which may have occurred in the Project industry between the date of submission of the Contract Project Documents to the Owner DEMARCO and the date on which proposals are sought. 4.2.4 If a Project budget or fixed 5.2.4 Xx x xxxed limit of Project Cost (adjusted as provided in Subparagraph 4.2.35.2.3) is exceeded by the sum of the lowest bona fide bonafide bids or negotiated proposals, the Owner shall (1) give written approval of an increase in such fixed limit, (2) authorize rebidding or renegotiating of proposals plus the Project within a reasonable time, (3) if the Project is abandoned, terminate in accordance with Paragraph 12.2, Manager's estimate or (4) cooperate in revising the Project scope and quality as required to reduce the Project cost. In the case of (4), provided a fixed limit other elements of Project cost has been established as a condition of this AgreementCost for the Project, the Architect, without additional charge, shall modify the Drawings, Schedules, and Specifications as necessary to comply with the fixed limit unless Architect's design was previously determined to be within the Project budget by the Owner's Contractor, at which time Architect will be entitled to additional compensation for such revisions. The providing of such service shall be the limit of the Architect's responsibility arising from the establishment of such fixed limit, and having done so, the Architect shall be entitled to compensation for all services performed, in accordance with this Agreement, whether or not the Contract Administration Phase is commenced.DEMARCO shall:

RESPONSIBILITY FOR PROJECT COST. 4.2.1 5.2.1 Evaluations of the OwnerDEMARCO's Project budget, Statements preliminary estimates of Probable Project Cost, Xxxxxxx Cost and detailed estimates of Project cost, if any, Cost prepared by the Project Manager represent the ArchitectProject Manger's best judgment judgement as a design professional person or entity familiar with interior designthe Project industry. It is recognized, however, that neither the Architect Project Manager nor the Owner DEMARCO has any control over the cost of labor, materials, furniture, furnishings, or equipmentmaterials xx xxuipment, over the Contractor's methods of determining bid prices, or over competitive bidding, market, market or negotiating conditions. Accordingly, the Architect Project Manager cannot and does not warrant or represent that bids or negotiated prices will not vary from the Project budget proposed, established, established or approved by the Owner, if anyDEMARCO, or from any Statement of Probable Project Cost or other cost estimates estimate or evaluation prepared or reviewed xxxxxxed by the ArchitectProject Manger. 4.2.2 5.2.2 No fixed limit of Project cost Cost shall be established as a condition of this Agreement by the furnishing, proposal or establishment of a Project budget under Subparagraph 1.2.3 or Paragraph 3.2 or otherwise, unless such fixed limit has been agreed upon in writing and signed by the parties hereto. If such a fixed limit has been established, the Architect Project Manager shall be permitted to include contingencies for design, bidding, and price escalation, and shall consult with DEMARCO to determine what materials, furniture, furnishings, and equipment, finishes, component systems, cxxxxxxxt systems and types of construction Project are to be included in the Contract Project Documents, to make reasonable adjustments suggest inclusion of alternate bids in the scope of the Project and to include in the Contract Documents alternate bids to adjust the Project Cost to the fixed limit. Any such fixed limit Fixed limits, if any, shall be increased in the amount of any increase in the Contract Sum Sums occurring after execution of the Contracts and has been agreed to by the parties in writingfor Project. 4.2.3 5.2.3 If the Bidding or Negotiating Phase has not commenced within three months 90 days after submittal of the Architect submits the proposed Contract Project Documents to the OwnerDEMARCO, any Project budget or fixed limit of Project Cost Projecx Xxxx shall be adjusted in writing and agreed to by the parties to reflect any change changes in the general level of prices which may have occurred in the Project industry between the date of submission of the Contract Project Documents to the Owner DEMARCO and the date on which proposals are sought. 4.2.4 If 5.2.4 Xx a Project budget or fixed limit of Project Cost (adjusted as provided in Subparagraph 4.2.35.2.3) is exceeded by the sum of the lowest bona fide bonafide bids or negotiated proposals, the Owner shall (1) give written approval of an increase in such fixed limit, (2) authorize rebidding or renegotiating of proposals plus the Project within a reasonable time, (3) if the Project is abandoned, terminate in accordance with Paragraph 12.2, Manager's estimate or (4) cooperate in revising the Project scope and quality as required to reduce the Project cost. In the case of (4), provided a fixed limit other elements of Project cost has been established as a condition of this AgreementCost for the Project, the Architect, without additional charge, shall modify the Drawings, Schedules, and Specifications as necessary to comply with the fixed limit unless Architect's design was previously determined to be within the Project budget by the Owner's Contractor, at which time Architect will be entitled to additional compensation for such revisions. The providing of such service shall be the limit of the Architect's responsibility arising from the establishment of such fixed limit, and having done so, the Architect shall be entitled to compensation for all services performed, in accordance with this Agreement, whether or not the Contract Administration Phase is commenced.DEMARCO shall:

RESPONSIBILITY FOR PROJECT COST. 4.2.1 5.2.1 Evaluations of the Owner's Project DEMAXXX'x Xxxject budget, Statements preliminary estimates of Probable Project Cost, Cost and detailed estimates of Project cost, if any, Cost prepared by the Project Manager represent the ArchitectProject Manger's best judgment judgement as a design professional person or entity familiar with interior designthe Project industry. It is recognized, however, that neither the Architect Project Manager nor the Owner has any DEMAXXX xxx control over the cost of labor, materials, furniture, furnishings, materials or equipment, over the Contractor's methods of determining bid prices, or over competitive bidding, market, market or negotiating conditions. Accordingly, the Architect Project Manager cannot and does not warrant or represent that bids or negotiated prices will not vary from the Project budget proposed, established, established or approved by the OwnerDEMAXXX, if any, or xx from any Statement of Probable Project Cost or other cost estimates estimate or evaluation prepared or reviewed by the ArchitectProject Manger. 4.2.2 5.2.2 No fixed limit of Project cost Cost shall be established as a condition of this Agreement by the furnishing, proposal or establishment of a Project budget under Subparagraph 1.2.3 or Paragraph 3.2 or otherwise, unless such fixed limit has been agreed upon in writing and signed by the parties hereto. If such a fixed limit has been established, the Architect Project Manager shall be permitted to include contingencies for design, bidding, and price escalation, to and shall consult with DEMAXXX xx determine what materials, furniture, furnishings, and equipment, finishes, component systems, systems and types of construction Project are to be included in the Contract Project Documents, to make reasonable adjustments suggest inclusion of alternate bids in the scope of the Project and to include in the Contract Documents alternate bids to adjust the Project Cost to the fixed limit. Any such fixed limit Fixed limits, if any, shall be increased in the amount of any increase in the Contract Sum Sums occurring after execution of the Contracts and has been agreed to by the parties in writingfor Project. 4.2.3 5.2.3 If the Bidding or Negotiating Phase has not commenced within three months 90 days after submittal of the Architect submits the proposed Contract Project Documents to the OwnerDEMAXXX, any xxy Project budget or fixed limit of Project Cost shall be adjusted in writing and agreed to by the parties to reflect any change changes in the general level of prices which may have occurred in the Project industry between the date of submission of the Contract Project Documents to the Owner and DEMAXXX xxx the date on which proposals are sought. 4.2.4 5.2.4 If a Project budget or fixed limit of Project Cost (adjusted as provided in Subparagraph 4.2.35.2.3) is exceeded by the sum of the lowest bona fide bonafide bids or negotiated proposals, the Owner shall (1) give written approval of an increase in such fixed limit, (2) authorize rebidding or renegotiating of proposals plus the Project within a reasonable time, (3) if the Project is abandoned, terminate in accordance with Paragraph 12.2, Manager's estimate or (4) cooperate in revising the Project scope and quality as required to reduce the Project cost. In the case of (4), provided a fixed limit other elements of Project cost has been established as a condition of this AgreementCost for the Project, the Architect, without additional charge, shall modify the Drawings, Schedules, and Specifications as necessary to comply with the fixed limit unless Architect's design was previously determined to be within the Project budget by the Owner's Contractor, at which time Architect will be entitled to additional compensation for such revisions. The providing of such service shall be the limit of the Architect's responsibility arising from the establishment of such fixed limit, and having done so, the Architect shall be entitled to compensation for all services performed, in accordance with this Agreement, whether or not the Contract Administration Phase is commenced.DEMAXXX xxxll: