Form Of Contract - Fixed Guaranteed Maximum Price (Page 3 of 5) in pdf

________, and incorporated herein by reference the contract for Pre-Construction

Services dated ___________.

For the sums set forth in the Construction Manager at Risk’s fee proposal (or any

subsequently amended fee agreement), the Construction Manager at Risk undertakes to

act as the Owner’s fiduciary (N.C.G.S.143-128.1) and to furnish professional

construction management services during the construction of the Project.

The providing of the Construction Manager at Risk services shall be in compliance with

the requirements of the Request for Proposal (including all its appendices and

attachments) and the Construction Manager at Risk’s proposal (Hereinafter, together: the

Contract Documents). To the extent that any term, requirement, or specification in the

Construction Manager at Risk’s proposal shall be in conflict with the Request for

Proposal, the terms, requirements, and specifications of the Request for Proposal shall

control and the conflicting contents of the Construction Manager at Risk’s proposal shall

be deemed surplussage except where provided otherwise.

That the Construction Manager at Risk shall commence provision of construction phase

services under this agreement on a date to be specified in a written order of the Owner

and shall fully complete all services hereunder and accomplish the final completion of the

project within

consecutive calendar days from the date of Notice to

Proceed. The Construction Manager at Risk shall furnish to the Owner various schedules

as provided in the Contract Documents setting forth planned progress of the project

broken down by the various divisions or part of the work and by calendar days. If the

Construction Manager at Risk fails to begin the work under the contract within the time

specified, or the progress of the work is not maintained on schedule, or the work is not

completed within the time above specified, or shall allow the work to be performed

unsuitably or shall discontinue the prosecution of the work, or if the Construction

Manager at Risk shall become insolvent or be declared bankrupt or commit any act of

bankruptcy or insolvency, or allow any final judgment to stand against him unsatisfied

for a period of forty-eight (48) hours, or shall make an assignment for the benefit of

creditors, or for any other cause whatsoever shall not carry on the work in an acceptable

manner, the Owner may give notice in writing, sent by certified mail, return receipt

requested, to the Construction Manager at Risk and his surety of such delay, neglect or

default, specifying the same, and if the Construction Manager at Risk within a period of

fifteen (15) days after such notice shall not proceed in accordance therewith, then the

Owner shall, declare this contract in default, and, thereupon, the surety shall promptly

take over the work and complete the performance of this contract in the manner and

within the time frame specified. In the event the surety shall fail to take over the work to

be done under this contract within fifteen (15) days after being so notified and notify the

Owner in writing, sent by certified mail, return receipt requested, that he is taking the

same over and stating that he will diligently pursue and complete the same, the Owner

shall have full power and authority, without violating the contract, to take the prosecution

of the work out of the hands of said Construction Manager at Risk, to appropriate or use

any or all contract materials and equipment on the grounds as may be suitable and

acceptable and may enter into an agreement, either by public letting or negotiation, for

the completion of said contract according to the terms and provisions thereof or use such

other methods as in his opinion shall be required for the completion of said contract in an

acceptable manner. All costs and charges incurred by the Owner, together with the costs

of completing the work under contract, shall be deducted from any monies due or which

may become due said Construction Manager at Risk and surety. In case the expense so

Form Of Contract - Fixed Guaranteed Maximum Price Page 3

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