Reso 2002-433 - Laserfiche WebLink

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4.2 The Contract Time shall be measured from the date of commencement. 4.3 The Contractor shall achieve Substantial Completion of the entire Work not later than.8Q2 days from the date of commencement, or as follows: (Insert number of calendar days, Alternatively. a calendar date may be used when coordinated with the date of commencement. Unless stated elsewhere in the Contract Documents, insert any requirements for earlier Substantial Completion of certain portions of the Work.) The Proiect Schedule shall be incOI:porated by Addendum to the A&feement. , subject to adjustments of this Contract Time as provided in the Contract Documents. (Insert provisions, if any, for liquidated damages relating to failure to complete on time, or for bonus payments for early completion of the Work.) ARTICLE 5 BASIS FOR PAYMENT 5.1 CONTRACT SUM 5.1.1 The Owner shall pay the Contractor the Contract Sum in current funds for the Contractor's performance of the Contract. The Contract Sum is the Cost of the Work as defined in Article 7 plus the Contractor's Fee. The Contractor's Fee for services shall be calculated at Four and One Half Percent (4.5%) of the cost of the Work. This fee shall be fixed at a lUIIlP sum amount at the time the Guaranteed Maximum Price is established. 5.1.2 The Contractor's Fee is: (State a lump sum, percentage of Cost of the Work or other provision for determining the Contractor's Fee. and describe the method of adjustment of the Contractor's Feefor changes in the Work.) For changes to the scope of the work which. exclusive of the Contractor's Fee. collectively increase the cost of the work above the GMP. the Contractor's Fee shall be Four and One Halfpercent (4.5%) for the additional cost of the work. There shall be no change in the Contractor's Fee for deductive changes in the Work. However. the Contractor shall be paid no additional fee for the first Two Hundred Thousand Dollars ($200.000.00) in additive change orders to the project. 5.2 GUARANTEED MAXIMUM PRICE 5.2.1 The sum of the Cost of the Work. as defmed by Article 7. and the Contractor's Fee is guaranteed by the Contractor not to exceed Ten Million Dollars Dollars ($10.000.000 ), subject to additions and deductions by Change Order as provided in the Contract Documents. Such maximum sum is referred to in the Contract Documents_ as the Guaranteed Maximum Price. Costs which would cause the Guaranteed Maximum Price to be exceeded shall be paid by the Contractor without reimbursement by the Owner. (Insert specific provisions if the Contractor is to participate in any savings.) 5.2.1.1 The original GMP set forth in paragraph 5.2.1 above is a maximum construction cost budget target established by the Owner for the Project. including the Contractors fee for Preconstruction and Construction Services. Owner. Architect and Contractor a&fee to cooperate in good faith and to use best efforts to develop a design and scope for the Project that will allow the construction of the Proiect within the original GMP. At the time the Drawings and Specifications are fmalized sufficient for the Contractor to establish such cost the Agreement shall be amended by Change Order to incOI:porate such finalized Contract Documents as part of the Agreement and to establish the final GMP amount and Contract Time related thereto. Such final GMP amount shall not exceed the original GMP amount unless such increased GMP is s,pecifically ap,proved in writing by the Owner. which shall have been ap,proved by the Ci1;y Commission. 5.2.1.2 If the actual Cost of the Work plus the Contractor's Fee is less than the Guaranteed Maximum Price. as adiusted as provided herein. such difference ("savings") shall accrue Six1;y Five percent (65%) to the Owner and Thirty Five percent (35%) to the Contractor. The amount of savings shall be initially determined by the Contractor and submitted to the Owner as part of the final ap,plication for payment as described in Paragraph 12.2 and payment of the savings shall be made with fmal payment as provided in that Paragraph 12.2. Savings shall be the difference between the actual cost of the work plus the Contractor's Fee. and the final GMP including all adjustments made throughout the duration of the project. 5.2.2 The Guaranteed Maximum Price is based on the following alternates, if any, which are described in the Contract Documents and are hereby accepted by the Owner: (State the numbers or other identification of accepted alternates, If decisions on other alternates are to be made by the Owner subsequent to the execution of this Agreement, attach a schedule of such other alternates showing the amount for each and the date when the amount expires.) 5.2.3 Unit prices, if any, are as follows: @ AlA DOCUMENT A III -OWNER - CONTRACTOR AGREEMENT - 1997 EDITION - AlA - COPYRIGHT 1997 - THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE N,W" WASHINGTON, D,C. 20006-5292, WARNING: Unlicensed photocopying violates U.S, copyright laws and will subject the violator to legal prosecution. This document was electronically produced with permission of the AlA and can be reproduced without violation until the date of expiration as noted below, expiration as noted below, expiration as noted below. User Document: aliI city of sunny,aia -- 4/11/2002. AlA License Number 1000746, which expires on 8/8/2002, Electronic Format Alll-1997 '\ 4 ~L,