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

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AIA Document A1339) - 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 § 13.2.2 Termination by the Owner for Cause § 13.2.2.1 If the Owner terminates the Contract for cause as provided in Article 14 of AIA Document A201-2017, the amount, if any, to be paid to the Construction Manager under Article 14 of AIA Document A201-2017 shall not cause the Guaranteed Maximum Price to be exceeded, nor shall it exceed an amount calculated as follows: .1 Take the Cost of the Work incurred by the Construction Manager to the date of termination; .2 Add the Construction Manager's Fee, computed upon the Cost of the Work to the date of termination at the rate stated in Section 6.1 or, if the Construction Manager' Fee is stated as a fixed sum in that Section, an amount that bears the same ratio to that fixed -sum Fee as the Cost of the Work at the time of termination bears to a reasonable estimate of the probable Cost of the Work upon its completion; .3 Subtract the aggregate of previous payments made by the Owner; and .4 Subtract the costs and damages incurred, or to be incurred, by the Owner under Article 14 of AIA Document A201-2017. § 13.2.2.2 The Owner shall also pay the Construction Manager fair compensation, either by purchase or rental at the election of the Owner, for any equipment owned by the Construction Manager that the Owner elects to retain and that is not otherwise included in the Cost of the Work under Section 13.2.2.1.1. To the extent that the Owner elects to take legal assignment of subcontracts and purchase orders (including rental agreements), the Construction Manager shall, as a condition of receiving the payments referred to in this Article 13, execute and deliver all such papers and take all such steps, including the legal assignment of such subcontracts and other contractual rights of the Construction Manager, as the Owner may require for the purpose of fully vesting in the Owner the rights and benefits of the Construction Manager under such subcontracts or purchase orders. § 13.2.3 Termination by the Owner for Convenience If the Owner terminates the Contract for convenience in accordance with Article 14 of AIA Document A201-2017, then the Owner shall pay the Construction Manager a termination fee as follows: (Insert the amount of or method for determining the fee, if any, payable to the Construction Manager following a termination for the Owner's convenience.) 10% of the Construction Manager's Fee that would have been earned on the estimated Cost of Work not completed at the date of termination. The estimated Cost of Work not completed shall be as documented in the Guaranteed Maximum Price Proposal and Change Orders up to the date of termination. § 13.3 Suspension The Work may be suspended by the Owner as provided in Article 14 of AIA Document A201- 2017; in such case, the Guaranteed Maximum Price and Contract Time shall be increased as IA Document A133 - 2D19. Copyright I951, 2003, 2005, and 2019. A11 rights reser-✓ed. "The American Institute p= 34 Architects," "American Institute of Archrcects," "AIA.," the AIA go, and Contract Docum_nts" Lp ---- __ trademarYs of The American Insti to to of Archi cects. This draft was produced at 05:52:25 ET on �10/11 /2023 under Order No.211d177d9'..�hich exp i__s on 10110/2021 is not for r=_saie, licensed f _-time use only, and ma' only be used in accordance with the AIA C3 _act Documen cs• Terms of Se rYice., To report cop,,righr i_olat ions, _-mail docinfo@a iacont ra cis. tom. User Notes: