12-15-2014 Council Agenda - Laserfiche WebLink

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Init. § 4.2 Payments § 4.2.1 Unless otherwise agreed, payments For services shall be made monthly in proportion to services performed. § 4.2.2 Payments are due and payable upon presentation of the Construction Manager's invoice. Amounts unpaid 30 ( thirty ) days after the invoice date shall hear interest at the rate entered below, or in the absence thereof at the legal rate prevailing from time to time at the principal place of business of the Construction Manager. 1.5 %monthly ARTICLE 5 COMPENSATION FOR CONSTRUCTION PHASE SERVICES § 5.1 For the Construction Manager's performance of' the Work as described in Section 2.3, the Owner shall pay the Construction Manager the Contract Sunt in current funds. The Contract Sum is the Cost of the Work as defined in Section 6.1.1 plus the Construction Manager's Fee. § 5.1.1 The Construction Manager's Fee: (Paragraph deleted) Three and one half percent (3.5%) of the cost of the work § 5.1.2 The method of adjustment of the Construction Manager's Fee for changes in the Work: Three and one half percent (3.5%) of the cost of the work performed by Construction Manager's forces; Three and one half percent (3.5%) of the cost of the work performed by Subcontractors § 5.1.3 Limitations, if any, on a Subcontractor's overhead and profit for increases in the cost of its portion of the Work: Ten percent (10%) of the cost of the work § 5.1.4 Rental rates for Construction Manager -owned equipment shall not exceed percent ( %) of the standard rate paid at the place of the Project. § 5.1.5 Unit prices, if any: (Paragraph deleted) Item Units and Limitations Price per Unit ($0.00) N/A § 5.2 Guaranteed Maximum Price § 5.2.1 The Construction Manager guarantees that the Contract Sunt shall not exceed the Guaranteed Maximum Price set forth in the Guaranteed Maximum Price Amendment, as it is amended from time to time. To the extent the Cost of the Work exceeds the Guaranteed Maximum Price, the Construction Manager shall bear such costs in excess of the Guaranteed Maximum Price without reimbursement or additional compensation from the Owner. N/A § 5.2.2 The Guaranteed Maximum Price is subject to additions and deductions by Change Order as provided in the Contract Documents and the Date of Substantial Completion shall be subject to adjustment as provided in the Contract Documents. § 5.3 Changes in the Work § 5.3.1 The Owner may, without invalidating the Contract, order changes in the Work within the general scope of the Contract consisting of additions, deletions or other revisions. The Owner shall issue such changes in writing. The Architect may make minor changes in the Work as provided in Section 7.4 of AIA Document A201 2007, General Conditions of the Contract for Construction. The Construction Manager' shall be entitled to an equitable adjustment in the Contract Time as a result of'changes in the Work. AIA Document A133TM — 2009 (formerly A121 '"CMc —2003). Copyright 01991. 2003 and 2009 by The American Institute of Architects. All rights reserved. WARNING: This AIA Document is protected by U.S. Copyright Law and International Treaties. Unauthorized reproduction or distribution of this AIA Document, or any portion of It, may result in sovoro civil and criminal penalties, and will be prosecuted to the maximum extent possible under the law. This document was produced by AIA software at 16:20:45 on 12/02/2014 under Order No.36440589061 which expires on 08/14/2015, and is not for resale. User Notes: (1970105415) 13