Cost Plus Construction Contract With Guaranteed Maximum Price In Texas
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Description
The Cost Plus Construction Contract with Guaranteed Maximum Price in Texas is a comprehensive document designed for use in construction projects. It outlines the agreement between the Contractor and the Owner regarding the project's scope, work site, permits, and soil conditions. One of the key features is the Cost Plus structure, where the Owner pays for the actual costs incurred by the Contractor, plus an agreed-upon fee. This form also includes important provisions for insurance, boundary surveys, and change orders, allowing Owners to modify the scope of work in writing and ensuring clarity on additional costs. Filling and editing instructions emphasize clear identification of both parties and specific details about the project, including the payment method and conditions for late payments. Ideal for attorneys, partners, owners, associates, paralegals, and legal assistants, this contract offers a flexible framework suitable for diverse construction needs while ensuring compliance with Texas regulations. The document aids legal professionals in drafting and negotiating contracts that protect their clients' interests and outline expectations from both parties.
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Maximum Allowable Construction Area (MACA) “ the combined total of the Maximum Allowable PSO and the Maximum Allowable ISA. Maximum Allowable Unpaved Surface Area (USA) “ portion of the lot that shall remain unpaved and reserved for softscaping/planting.
