2008-11-10 Regular Meeting, Public Hearing and Workshop Meeting of the La Porte City Council

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(paragraphs deleted) By the Owner. Should the Construction Manager complete the Project for less than the Guaranteed Maximum Price, the remaining funds shall be credited to the Owner as a deduction from the Guaranteed Maximum Price. Construction Manager shall also return to the Owner all unused funds from any Contingency account as a deduction from the Guaranteed Maximum Price. The Construction Manager shall not participate in any savings. All savings shall be credited to Owner. It is the intent of the parties that if the Cost of the Work plus the Construction Manager's fee is less than the Guaranteed Maximum Price, as it may be adjusted by approved Change Orders, the entire amount of the savings shall be returned to Owner. § 5.3.1 Adjustments to the Guaranteed Maximum Price shall be calculated in accordance with Article 7 of the General Conditions of the Contract, as amended. Adjustments to the Guaranteed Maximum Price shall only be considered on account of Owner -approved changes in the Work subsequent to the execution of Amendment No. 4- Faay be determined by any of the Foetheds1isted Seetion 7.3.3 of A201 Tm O97..1; provided, however, that no adjustment to the Guaranteed Maximum Price shall become effective unless approved by the Owner. PAGE 12 § 6.1.1 The term "Cost of the Work" shall mean direct, actual, and verifiable costs reasonably and necessarily incurred by the Construction Manager in the proper performance of the Werk—.Work as described in this Article 6. Such costs shall be rates not higher than those customarily paid at the place of the Project except with prior written consent of the Owner. The Cost of the Work shall include only the items set forth in this Article b:6 — General Conditions. .1 Wages of construction workers directly employed by the Construction Manager to peFf9F+H the performing on -site work, or with the Owner's prior written agreement, performing same at off -site workshops if authorized by Owner through the competitive proposal process. .2 Wages That portion of the wages or salaries of the Construction Manager's supervisory and administrative personnel when stationed at the site with the Owner's agfeement-written approval, but only when directly involved in the Project. .3 Wages and salaries of the Construction Manager's supervisory or administrative personnel engaged, at factories, workshops or on the road, in expediting the production or transportation of materials or equipment required for the Work, but only for that portion of their time ' ectly attributed to and required for the Work, and only as approved by the Owner.. .4 Costs paid or incurred by the Construction Manager for employment -related taxes, insurance, contributions, assessments and benefits required by law or collective bargaining agreements, and, for personnel not covered by such agreements, customary benefits such as sick leave, medical and health benefits, holidays, vacations and pensions, provided that such costs are based on wages and salaries included in the Cost of the Work under Sections 6.1.2.1 through 6.1.2.3. Payments made by the Construction Manager to Subcontractors in accordance with the requirements of the subcontracts. Any Subcontract Work to be performed by the Construction Manager's own forces on the basis of a bid or proposal submitted by the Construction Manager per Article 2 3 Z 1 as amended shall be treated as Work performed by a subcontractor under Article 6.1.3. the Construction Manager's compensation for such Subcontract Work performed shall be based on the amount of the bid or proposal submitted by the Construction Manager for such Work, rather than "actual costs" as provided elsewhere in Article 6 of this Agreement Costs paid to the Construction Manager for such Work shall be treated only as "subcontract costs" for purposes of computing the allowable cost and fees payable to the Construction Manager. Additions and Deletions Report for AIA Document A121 TmCMc — 2003 and AGC Document 565. Copyright © 1991 and 2003 by The American Institute of Architects and The Associated General Contractors of America. All rights reserved. WARNING: This document is protected by U.S. Copyright Law and 1 International Treaties. Unauthorized reproduction or distribution of this document, or any portion of it, may result in severe civil and criminal penalties, and will be prosecuted to the maximum extent possible under the law. This document was produced by AIA software at 16:02:34 on 12/01 /2008 under Order No.1000375455_1 which expires on 10/20/2009, and is not for resale. User Notes: (4293007293)