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personal property; 2. Passage of Title. The governmental entity must acquire title to and assume liability for the tangible personal property at the point in time when it is delivered to the job site up until the time it is incorporated as real property; 3 . Direct Invoice . Vendors must directly invoice the governmental entity for supplies ; 4. Direct Payment. The governmental entity must directly pay the vendors for the tangible personal property and 5 . Assumption of the Risk of Loss . The governmental entity must assume all risk of loss or damage for the tangible personal property involved in the contract as indicated by the entity ' s acquisition of or inclusion as the insured party under, insurance on the building materials . D. The Owner desires to comply with the Direct Purchase Procedures set forth in this section 3 4 12 for purchases in an amount not less than $ 5 ,000 . Construction Manager agrees to cooperate with Owner to enable Owner to comply with the Direct Purchase Procedures set forth in this section 3 4 12 for all such purchases Owner and Construction Manager shall coordinate the builder' s risk coverage of each party to comply with the Direct Purchase Procedures set forth in this section 3 .4 . 12 for such purchases . E . A Direct Purchasing Procedure will be agreed upon and attached to the GMP Amendment ARTICLE 4 COMPENSATION AND PAYMENTS FOR PRECONSTRUCTION PHASE SERVICES The Owner shall compensate and make payments to the Construction Manager for Preconstruction Phase services as follows : § 4. 1 COMPENSATION § 4. 1 . 1 For the services described in Sections 2 . 1 and 2 . 2 , the Construction Manager ' s compensation shall be calculated as follows : Stipulated sum of $ 89,029 . 00 inclusive of all direct and indirect construction manager expenses in the preconstruction phase and preparation of the Guaranteed Maximum Price. (State basis of compensation, whether a stipulated sum, multiple of Direct Personnel Expense, actual cost, etc. Include a statement of reimbursable cost items as applicable. ) § 4.1 .2 Compensation for Preconstruction Phase Services shall be equitably adjusted if sueh serwiees extend beyond ( ) days €r m the dote of this Agreement ^r- if the originally contemplated scope of services is significantly modified . § 4.1 .3 if eompensation is based on a multiple of Direct Personnel Expense, Direct PeFSennel Expense is defined as the difeet salaries ef the Constr-tietion Manager- ' s pefsenne! engaged in the Pr-ejeet and the pef4ion of the cost of their- mandator-y and eustemaFy eentr-ibutions and benefits related therete, stieh as employment ta*es and other- statutory employee benefits, insufanee , siek leave, holidays , vaeati d similaf eentfibutions and ben § 4.2 PAYMENTS § 4.2. 1 Payments shall be made monthly following presentation of the Construction Manager' s monthly invoice and, where applicable, shall be in proportion to services performed . All payments are subject to the provisions of the Florida Prompt Payment Act, Florida Statutes section 218 . et. seq . and Article 9 of A201TM- 1997 as modified § 4.2.2 Payments afe due and payable ( ) days ffem the date the Construetion Manager- ' s invoiee is r-eeeived b5 F located .the Owner, Amounts unpaid after- the date on which payment is due shall bear inteFest at the rate enteFed below, or in the absenee thereof-, at ilihe legal Fate pr-evailing ffofn time to time at the plaae where the Pr-ejeet is AIA Document A121 TmCMc — 2003 and AGC Document 565. Copyright © 1991 and 2003 by The American Institute of Architects and The Associated General Contractors of America. All rights reserved. WARNING : This document is protected by U.S. Copyright Law and International Treaties. 1 1 Unauthorized reproduction or distribution of this document, or any portion of It, may result in severe civil and criminal penalties, and will be prosecuted to the maximum extent possible under the law. This document was produced by AIA software at 17 :00 :26 on 05/25/2005 under Order No. 1000126313_1 which expires on 6/29/2005, and is not for resale. User Notes: (3163795107)