Ratify Contract - Madison Lifestyle Parking Garage CMc Proj No 123-074 - FA Wilhelm

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AIA Document A133® - 2019 Standard Form of Agreement Between Owner and Construction Manager as Constructor where the basis of payment is the Cost of the Work Plus a Fee with a Guaranteed Maximum Price § 5.1.2.1 Hourly billing rates for Preconstruction Phase services include all costs to be paid or incurred by the Construction Manager, as required by law or collective bargaining agreements, for taxes, insurance, contributions, assessments and benefits and, for personnel not covered by collective bargaining agreements, customary benefits such as sick leave, medical and health benefits, holidays, vacations and pensions, and shall remain unchanged unless the parties execute a Modification. § 5.1.3 If the Preconstruction Phase services covered by this Agreement have not been completed within << five » ( <<5 i) ) months of the date of this Agreement, through no fault of the Construction Manager, the Construction Manager's compensation for Preconstruction Phase services shall be equitably adjusted. § 5.2 Payments § 5.2.1 Unless otherwise agreed, payments for services shall be made monthly in proportion to services performed. § 5.2.2 Payments are due and payable upon presentation of the Construction Manager's invoice. Amounts unpaid «thirty _» ( 00 ») days after the invoice date shall bear 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. (Insert rate of monthly or annual interest agreed upon.) There will be no interest on late payments. ARTICLE 6 COMPENSATION FOR CONSTRUCTION PHASE SERVICES § 6.1 Contract Sum § 6.1.1 The Owner shall pay the Construction Manager the Contract Sum in current funds for the Construction Manager's performance of the Contract after execution of the Guaranteed Maximum Price Amendment. The Contract Sum is the Cost of the Work as defined in Article 7 plus the Construction Manager's Fee. § 6.1.2 The Construction Manager's Fee: (State a lump sum, percentage of Cost of the Work or other provision for determining the Construction Manager's Fee.) 2.75% of the Cost of the Work as defined in Article 7. § 6.1.3 The method of adjustment of the Construction Manager's Fee for changes in the Work: 2.75% of the Cost of the Work of the change as defined in Article 7. I?. Documenn A133 - 2019. Copyright 1991, 2003, 2009, and 2019. .411 rights reserved. "The American Institute cf 17 A, hiczccs," "American Tnsti lute of Archl tacts," "AIA," the AIA Logo, and "AIA Contract Documents" are trademarks of The Am rican Its, of Archit=_c ts. This draft was produced at OE: 52:20 �T on 10; 11;?023 under Order No.21119 %491 which a:;pi__ on 10/10/202; s not for -wale, _ licensed f _-time_ use only, and may only be used in accordance with she AIA Contract Documenrs• Terms of Service. To r__orc r oyrighr aiclati—, e-mail docinfo@aiaconrracts. coin. User Notes: