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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 maybe described in the Proposal. <br />12.1.2 Budget 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 Contingency <br />The Guaranteed Maximum Price shall include a contingency <br />amount (the Contingency) for the use of the GM. 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 Change of Contractor Ordered by Owner <br />If the Owner directs the CM to award a contract to a bidder <br />other than the lowest responsible and responsive pre-qualified <br />bidder for any potion of the Project, 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. <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, the GM shall <br />continue to perform at no additional cost to the Owner until the <br />Project, defined by this Agreement and all Attachments hereto, <br />is complete. The CM shall be responsible for paying all costs <br />in accordance with the terms of this Agreement that may be <br />necessary to complete the Project, even if such amounts are in <br />aggregate in excess of the Guaranteed Maximum Price. <br />This Agreement is executed the day and year first written <br />above. <br />CM: Telesis Construction Management, LLC <br />1000 Corporate Drive, Suite 109 <br />Hillsborough, NC 27278 <br />By' ----------- <br />George A. Horton, III <br />Title: __________ <br />MemberlManager <br />Attest: <br />By' ----------- <br />Title: ________ <br />(Secretary) (Manager) (Witness) <br />OWNER: Orange County <br />P. O. Box 8181 <br />Hillsborough, NC 27278 <br />By' ------------- <br />Moses Carey, Jr., Chair <br />Orange County Board of Commissioners <br />Attest: ____________ <br />Donna Baker <br />Clerk to the Board <br />This instrument has been pre-audited in the manner required <br />by the local Government Budget and Fiscal Control Act. <br />Orange County Finance Officer <br />This instrument is approved as to Form. <br />28 <br />