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DocuSign Envelope ID: 04E136D1 -507C- 4219- BF16- 446F8D2192F8 <br />4.5.2. The CMAR shall develop and provide to the Owner a GMP in connection with the <br />redrafted and altered Construction Documents to accomplish the necessary reductions in <br />cost. <br />4.5.3. The CMAR shall analyze the Project Designer's originally submitted and as altered and <br />redrafted Construction Documents, and make recommendations to the Owner as to ways <br />and methods to reduce the costs of constructing the Project to a sum which does not <br />exceed the Total Construction Budget. Notwithstanding anything in the RFQ to the <br />contrary, the CMAR shall perform the Work set forth in this section without additional <br />compensation. The Owner has the right to reject any GMP as originally submitted, or as <br />adjusted. In that event, the Contract may be terminated according to its terms. In addition, <br />the Owner has the right to withhold, in its sole discretion, approval of the amendment of <br />the Contract to reflect any GMP, in which event the Contract may be terminated <br />according to its terms. <br />4.5.4. The CMAR's detailed construction cost estimates and GMP will be reviewed by the <br />Project Designer and the Owner for reasonableness and compatibility with the Total <br />Construction Budget. Meetings and negotiations between the Owner, Project Designer <br />and the CMAR will be held to resolve questions and differences that may occur between <br />the Project Construction Budget and the CMAR's construction cost estimate and <br />corresponding GMP. If indicated by the Total Construction Budget limitations or other <br />circumstances, the CMAR shall work with the Owner and Project Designer to reach a <br />mutually acceptable GMP. <br />4.6. Upon acceptance by the Owner of a GMP, the Owner shall prepare and the CMAR shall execute an <br />amendment to this Contract to reflect the GMP. Within 10 days after the execution of the <br />amendment provided herein, the CMAR shall provide the Owner with a Performance Bond and a <br />Labor and Material Payment Bond each for 100% of the GMP in conformity with the terms of N.C. <br />Gen. Stat. Chapter 44A and this Contract. <br />4.7. Upon acceptance of the GMP, the CMAR shall continue to advise and assist the Owner and Project <br />Designer during any continuing design activities as described in the RFQ. <br />4.8. Upon completion of the Work, any and all non - expended funds remaining in any GMP will be <br />retained by the Owner, except as specifically set forth above in Section 3 and below in Section 5. <br />5. CONTINGENCY ALLOWANCES <br />5.1. Owner's Contingency: An Owner's Construction Contingency will be established. Expenditures <br />against this contingency will be available to cover all costs not covered by the GMP resulting from <br />changes in scope and initiated by the Owner via a change order amendment issued by the Owner. <br />5.2. CMAR -GMP Contingency: Each GMP shall contain a CMAR -GMP Contingency fixed as an <br />estimated lump sum for each GMP in an amount approved by the Owner, to help reduce the risks <br />assumed by the CMAR in providing the GMP for the Project. The entire CMAR Contingency shall <br />be fixed, based on the Total Construction Budget at the time of the final GMP, after which the <br />CMAR -GMP Contingency shall not be adjusted unless an amount is negotiated with Owner <br />requested Change Orders to the Work of the Project. In the event an adjustment to the CMAR <br />Contingency is negotiated under this paragraph, a lump sum adjustment to the CMAR Contingency <br />shall be equitably determined based on the nature of the changes to the Work, proven changes in <br />the scope of services provided by the CMAR, and any other factor that would affect the CMAR <br />risks due to changes to the Work <br />5.3. The Owner and the CMAR acknowledge that the contingency is included to compensate for <br />eventualities which have not been taken into precise account in the establishment of the GMP, <br />specifically unanticipated costs which do not result in, or cause a change order to the GMP, <br />including (1) legal fees not to exceed in the aggregate five thousand dollars ($5,000.00) associated <br />with defending bid protests or subcontract awards may be authorized by the Owner as expenditures <br />within the GMP Contingency provided the CMAR is not negligent or at fault, (2) scope gaps <br />Page 8 of 53 <br />Revised 10/17 <br />