James W. Fowler Co. 12/1/2021 - Laserfiche WebLink

completing the Work which exceed the GMP, as said general conditions line item(s) and the GMP may be adjusted in accordance with the Contract Documents. 7.6.2 The GMP may include a Design-Builder's Contingency as part of the estimated Cost of Phase 2 Work. The Design-Builder's Contingency shall be included in all cost estimates prepared by the Design-Builder during the course of Phase 1. Design-Builder's Contingency shall be calculated based on the probability-weighted risks and unknowns assumed by the Design-Builder at the time each estimate is prepared and is expected to decline as the design progresses.Any Design-Builder Contingency associated with the GMP and included in the Contract Price Amendment is available for Design-Builder's exclusive use for unanticipated costs it incurs that are not the basis for a Change Order under the Contract Documents. By way of example, and not as a limitation, such costs may include: (a) trade buy-out differentials; (b) overtime or acceleration not caused by Design-Builder or its subcontractors of any tier; (c) escalation of materials; (d) Subcontractor defaults; or(e) those events under Section 8.2.2 of the General Conditions of Contract that result in an extension of the Contract Time but do not result in an increase in the Contract Price. The Contingency is not available to Owner for any reason, including changes in scope or any other item which would enable Design-Builder to increase the GMP under the Contract Documents. Design-Builder shall provide Owner notice of all anticipated charges against the Contingency and shall provide Owner as part of the monthly status report required by Section 2.1.2 of the General Conditions of Contract an accounting of the Contingency, including all reasonably foreseen uses or potential uses of the Contingency in the upcoming three(3) months. Design-Builder agrees that with respect to any expenditure from the Contingency relating to a Subcontractor default or an event for which insurance or bond may provide reimbursement, Design-Builder will in good faith exercise reasonable steps to obtain performance from the Subcontractor and/or recovery from any surety or insurance company. Design-Builder agrees that if Design-Builder is subsequently reimbursed for said costs, then said recovery will be credited back to the Contingency. 7.6.3 Savings. 7.6.3.1 If the sum of the actual Design-Build Fee (as defined in 7.4 hereof), the Construction General Conditions Fee (Section 7.3), Pass-Through Costs (Section 7.5.3) plus the Cost of the Phase 2 Work (Section 7.5.1) as provided in Article 7 hereof is less than the GMP, as such GMP may have been adjusted over the course of the Project,the difference("Savings")shall accrue 75%to the Owner and 25%to the Design-Builder. 7.7 Allowance Items and Allowance Values. 7.7.1 Any and all Allowance Items, as well as their corresponding Allowance Values, shall be set forth in the GMP Amendment. 7.7.2 Design-Builder and Owner will work together to review the Allowance Items and Allowance Values based on design information then-available to determine that the Allowance Values constitute reasonable estimates for the Allowance Items. Design-Builder and Owner will continue working closely together during the preparation of the design to develop Construction Documents consistent with the Allowance Values. Nothing herein is intended in any way to constitute a guarantee by Design-Builder that the Allowance Item in question can be performed for the Allowance Value. 7.7.3 No Work shall be performed on any Allowance Item without Design-Builder first obtaining in writing advanced authorization to proceed from Owner. Owner agrees that if Design-Builder is not provided written authorization to proceed by the date set forth in the Project Schedule approved with the GMP Amendment, due to no fault of Design-Builder, Design-Builder may be entitled to an adjustment of the Contract Time(s) and Contract Price. 7.7.4 The Allowance Value includes the direct cost of labor, materials,equipment, transportation, taxes, and insurance associated with the applicable Allowance Item. PROGRESSIVE DESIGN-BUILD CONTRACT,Page 13