Agenda - 12-11-2007-4lxtr - Laserfiche WebLink

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The CMAR specifically recognizes that a delay by the CMAR in achieving the Substan6ai Completion of the Project will necessarily cause damages, tosses, and expenses to the Owner, including, but not limited to and by way of illustration only, increased capitalized costs and interests for the Project, increased and extended Project overhead, Designer's and Consultant's fees, increased costs of construction, increased and extended operation costs of other facitfties, and inefficiency and loss of productivity, and that such damages, losses, and expenses may not be readily identifiable or ascertainable at the lime they are Incurred or ai any time. Therefore, and in recognition of these factors and the likelihood that actual damages from his delay will not be readily ascertainable, the CMAR agrees to pay to the Owner, as Liquidated Damages and not as a penalty, the sum of One Thousand Dollars ($1,OD0) as the liquidated Damages per day, for each day by which the failure to meet the Substantial Completion Date shown in the Master Schedule, adjusted in accordance with this Article, delays the Substantial Completion of the Protect. The sum for Liquidated Damages is the amount reasonably estimated in advance to cover the losses to be incurred by the Owner by reason of failure of the CMAR to complete the Project within the time specified, such time being in the essence of this contract and a material consideration thereof. ARTICLE 5 CHANGES IN THE CONSTRUCTION MANAGER'S SERVICES AND ADDITIONAL COMPENSATION 5.1 Owner Chanaes The Owner, without invalidating this Agreement, may make changes in the CMAR's Services specified in Article 3 of this Agreement. The CMAR shall within five (5) days notify the Owner of any changes or other events which in the opinion of the CMAR entite the CMAR to an increase or decrease the Guaranteed Maximum Price, the CMAR's compensation, the duration of the CMAR's Services, or both. 5.1.1 Chanaes in the CMAR's Services Changes in the GMAR's Services may be directed by the Qwner in writing, and if so directed io provide different or additional Services the CMAR shall comply with the directions of the Owner. Additional compensation shall be sallied by a written amendment to this Agreement executed by the Owner and the CMAR. If possible, the amendment shall be executed by the Owner and CMAR prior to the CMAR perforrning the services required by the amendment, but failure to agree on compensation for a change in Services shall not be grounds for the CMAR to cease or refuse to provide the Services reasonably requested by the Owner., The CMAR shall proceed to perform the services required by the amendment only after receiving notice directing the CMAR to proceed. 5.1.2 Additional Compensation and Extended Duration The CMAR shall be entitled to receive additional compensation and additional time when the scope or planned duration of Services is increased or extended through the fault of the Owner. The CMAR shall notify the Owner within flue (5) days after changes to the scope of the Protect or a part thereof or after delays caused in whole or in part by the Owner increase or extend the scope or duration of the CMAR's Services. 5.1.2.1 Fixed Fee The CMAR shall not be entitled to an increase in the Fixed Fes unless and un61 it is finaify determined at the completion of the Project chat the approved Cost of the Work exceeds one hundred and five percent (1D5%) of the Cost of the Work set forth in the original agreed Guaranteed Maximum Price. If an increase in the Fixed Fee is Justified, the CMAR shalt be entitled to an increase in the Fixed Fae equal to eight percent {8%} of the amount by which the final approved Cost of the Work exceeds one hundred and five percent {105%) of the Cost of the Work set forth in the original agreed Guaranteed Maximum Price. The Owner may in its discretion approve adjustments to the Fixed Fee prior to the end of the Project. 5.1.2.2 General Conditions The amount of additional General Conditions costs to be paid to the CMAR and the amount of extension of the duration of this Agreement shall be determined on the basis of the GMAR's reasonable additional General Conditions costs after determining the increased services and length of the extensions of the duration of this Agreement. A change in the Drawings and SpeGfications or other change In the scope of the Work shall not automatically entitle the CMAR to an increase in compensation. Increases in the compensation payable to the CMAR shalt only be payable upon proof of an Increase in the actual duration or level of services being provided by the CMAR, or both. 5.1.2.3 Cost of the Work Increases in the Cost of the Work shall be determined in accordance with the provisions of Article 7 of this Agreement. 19