Orange County NC Website
Browse       Search
Pursuant to this Agreement and for the Project defined in <br />Article 2, the Owner and the CM agree that the Guaranteed <br />Maximum Price for the Project is the total of the two <br />Guaranteed Maximum Prices as defined in the Agreement of <br />Purchase and Sale (Library Building) and the Agreement of <br />Purchase and Sale (Office Building). <br />12.1.1. Documentation <br />The Guaranteed Maximum Price documentation shall be <br />prepared by the CM and submitted to the Owner with the <br />Guaranteed Maximum Price Proposal. The documentation <br />shall at a minimum describe the Contract Documents on which <br />the Guaranteed Maximum Price Proposal is based, and set <br />forth the cost elements of the Guaranteed Maximum Price in <br />detail. The documentation may include drawings, sketches, <br />specifications, calculations or other data used to identify the <br />basis of the Guaranteed Maximum Price. Documentation of the <br />Guaranteed Maximum Price was developed by the CM from <br />the design Drawings and Specifications and such other <br />documents as may be described in the Proposal. <br />12.1.2 Budaet Items <br />The documentation of the Guaranteed Maximum Price shall <br />include a detailed cost tabulation with at least the elements <br />described in the Listing of Cost Elements in Appendix B. <br />12.1.3 CM Continaencv <br />The Guaranteed Maximum Price shall include a contingency <br />amount (the Contingency) for the use of the CM. The <br />Contingency shall be included in the Guaranteed Maximum <br />Price. The Contingency is for the use of the CM to defray costs <br />in excess of the Cost of the Work for which the CM is not <br />otherwise entitled to an increase in the Guaranteed Maximum <br />Price under the terms of this Agreement. <br />12.1.3.1 [Not used] <br />12.1.3.2 [Not used] <br />12.1.3.3 [Not used] <br />12.1.3.4 [Not used] <br />12.1.4 Construction Contract Price Savings and Overruns <br />[Not used] <br />12.1.4.1 [Not used] <br />12.1.4.2 [Not used] <br />12.1.4.3 [Not used] <br />12.1.5 Chanae of Contractor Ordered by Owner <br />If the Owner decides to award a contract to a bidder other than <br />the lowest responsible and responsive pre-qualified bidder for <br />any potion of the Project, and if the CM consents to the <br />Owner's decision to do so in writing, the Guaranteed Maximum <br />Price shall be increased by the amount of the difference <br />between the award price and the price submitted by the lowest <br />responsible and responsive bidder. Nothing herein shall <br />abrogate the CM's right to approve the bidders selected to <br />perform the Work. <br />12.1.6 Costs in Excess of Guaranteed Maximum Price <br />In the event that the sum of the Cost of the Work exceeds the <br />Guaranteed Maximum Price and any adjustments therein as <br />may be due pursuant to the terms hereof or the Agreement of <br />Intent, the CM shall continue to perform at no additional cost to <br />the Owner until the Project, defined by this Agreement and all <br />Attachments hereto, is complete. The CM shall be responsible <br />for paying all costs in accordance with the terms of this <br />Agreement that may be necessary to complete the Project, <br />even if such amounts .are in aggregate in excess of the <br />Guaranteed Maximum Price. <br />This Agreement is executed the day and year first written <br />above. <br />CM: Telesis Construction Management, LLC <br />Corporate Drive, Suite 109 <br />Ilsbo~augh, NC 7 <br />By~ ~. <br />George A. Horton, III <br />Title: '~-Le.1-r~~..~~~{~gry,.nrv,t~~ <br />Member/Manager <br />Attest: <br />By: ~~~ ~ <br />Title: w-LnMQ/Y3- <br />(Secretary) (Manager) (Witness) <br />28 <br />