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<br />FXS:djJr 05/l6/97 <br /> <br />(009/72) <br /> <br />(b) <br /> <br />Payment to CM/GC; Final Agreed Price. <br /> <br />The Final Agreed <br /> <br />Price (the "PAP") <br /> <br />for the Project shall consist of the following <br /> <br />three <br /> <br />elements: <br /> <br />(1 ) <br /> <br />the <br /> <br />sum of all bids <br /> <br />from subcontractors <br /> <br />(including CM/GC to the extent that CM/GC lS awarded any <br />subcontract for physical work at the Project based upon the <br />competitive bid process applicable to subcontractors) (the <br /> <br />"Subcontractor Costs"); <br /> <br />( 2) <br /> <br />CM/GC's fee, <br /> <br />as defined above; <br /> <br />and <br /> <br />(3 ) <br /> <br />the <br /> <br />Contingency <br /> <br />amount, <br /> <br />as <br /> <br />defined <br /> <br />in <br /> <br />subparagraph <br /> <br />(d) , <br /> <br />below. <br /> <br />Items <br /> <br />(1 ) <br /> <br />and <br /> <br />(2 ) <br /> <br />in <br /> <br />the <br /> <br />previous <br /> <br />sentence <br /> <br />shall <br /> <br />be <br /> <br />referred to herein as the "Construction Costs. II <br /> <br />Upon receipt and <br /> <br />approval <br /> <br />of <br /> <br />all <br /> <br />Subcontractors I <br /> <br />bids, <br /> <br />CM/GC <br /> <br />shall <br /> <br />execute <br /> <br />a <br /> <br />"Pinal <br /> <br />Agreed <br /> <br />Price," <br /> <br />ln <br /> <br />a <br /> <br />form <br /> <br />entitled <br /> <br />"Listing <br /> <br />of <br /> <br />Subcontractors <br /> <br />Pinal Agreed Price" <br /> <br />and <br /> <br />similar <br /> <br />to <br /> <br />the <br /> <br />form <br /> <br />shown on Exhibit "D" <br /> <br />attached hereto and incorporated by this <br /> <br />reference. <br /> <br />The FAP shall not exceed the sum of $1,600,000.00 subject to <br /> <br />subparagraph <br /> <br />(d) <br /> <br />hereof and the other terms and conditions of <br /> <br />this Agreement and the documents incorporated herein, <br /> <br />including <br /> <br />without <br /> <br />limitation <br /> <br />the <br /> <br />General <br /> <br />Conditions. <br /> <br />The <br /> <br />FAP <br /> <br />shall <br /> <br />be <br /> <br />disbursed to CM/GC in accordance with the terms and conditions of <br /> <br />this Agreement, <br /> <br />including provisions concerning CM/GCls fee and <br /> <br />amounts to be paid for Contingency items. <br /> <br />If, after the PAP has been established, it reasonably appears <br /> <br />to the City that the City cannot complete the Project for an <br /> <br />amount within the FAP, the City shall have the right to terminate <br /> <br />this Agreement without fault in accordance with paragraph 16(b) <br /> <br />of this Agreement. <br /> <br />In addition, under such circumstances, if the <br /> <br />4 <br />