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(1) The Contractor shall submit to MNIDC monthly statements detailing services and <br />expenses in accordance with the following rate schedule: <br />Principal $130.00/hr <br />Senior PM $ 75.00/hr <br />Project Manager $ 65.00/hr <br />Superintendent $ 65.00/hr <br />Project Engineer $ 55.00/hr <br />Estimator $ 50.00/hr <br />Controller $ 75.00/hr <br />O~ce Staff $ 35.00/hr <br />(2) In the event the Owner does not sign a final construction contract with <br />Contractor, the Owner agees to pay Contractor the amounts due, not to exceed <br />$70,000, for pre-construction services rendered between June l, and December <br />31, 1997. <br />(3) If the proposed GMP, required by this agreement, is acceptable to the owner and <br />included in a final construction contract retaining Contractor as the general <br />contractor, the amount due under paragraph 2 above, shall be waived. It is <br />understood that the GMP includes building construcrion costs and Contractor's <br />fee @ 4.75% which includes preconstruction services) <br />b. In the event the GMP is not acceptable to the owner, the Owner shall negotiate first with <br />Contractor before soliciting public bids for a replacement Contractor. For the purposes <br />of this paragraph, a comparison of the Contractor's GMP shall not include <br />preconstruction service fees. If the parties cannot reach mutually acceptable terms, <br />Owner may proceed to solicit other general contractors after ten (10) days' prior written <br />notice to Contractor. During the ten (10) day notice period, Contractor may submit a <br />final offer, which Owner shall accept or reject before proceeding to solicit other general <br />contractors. <br />5. The project is funded in part by a grant from the FTA. It is understood that the final <br />construction agreement is subject to FTA contract requirements imposed upon Owner, and will <br />be incorporated by this reference in the final contract, if executed. <br />In consideration of the above recitals, the terms and covenants of this agreement, and other <br />valuable consideration, the receipt of which is acknowledged, the parties agree as follows: <br />6. Contra.ctor agrees to provide pre-construction services as a consulting general contractor <br />with that standard of care, skill and diligence normally provided by a professional individual in <br />the performance of similar services. The work to be performed includes the following: <br />2 <br />