ASRS18-215212_CBRE_Amendment_No._5.pdf
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- Attached to
- Master Agreement AZ|ASRS18-215212
- Contract number
- ASRS18-215212
- Issued by
- Arizona
About this file
This document is a Contract Amendment (Number Five) for the Arizona State Retirement System (ASRS), involving CBRE Inc as the contractor. The contract pertains to Property Management, Leasing, and Project Management Services, with the amendment executed on September 8, 2022.
The amendment renews the contract for the period from October 1, 2022, to September 30, 2023, and modifies the Project Management Fee structure. The fee is now calculated as a percentage of Gross Construction Costs, with a tiered pricing model: 5% for initial costs up to $500,000, 4% for costs between $500,001 and $750,000, 3% for costs between $750,001 and $1,000,000, and 2% for costs greater than $1,000,000. The amendment also removes a specific requirement about the form of Work Orders. All other terms and conditions of the original contract remain unchanged.
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Text version
CONTRACT AMENDMENT
Contract No.: ASRS18-215212 Description: Property Management, Leasing, and Project Management Services Contractor: CBRE Inc
Contract Amendment No. Five (5)
In accordance with the Special Terms and Conditions, Section 5 (Contract Renewal), the above referenced Contract is hereby amended as follows:
1) The Contract is renewed for the period October 1, 2022 to September 30, 2023.
2) Section 3 of Exhibit D: Pricing Schedule is replaced in its entirety by the following:
3. The Project Management Fee is set as a percent of the Gross Construction Costs (hard and soft) as follows:
Gross Construction Cost Percentage
Initial $0.00 - $500,000 5%
Next $500,001 - $750,000 4%
Next $750,001 - $1,000,000 3%
Greater than $1,000,000 2%
3) The following language in Section 3. a. i. of Exhibit D: Pricing Schedule is deleted in its entirety:
Work Orders shall be in the form attached hereto as Appendix “A”.
All other terms and conditions remain the same.
Contractor hereby acknowledges receipt and understanding of this Contract Amendment.
This Contract Amendment is hereby executed this date by the Arizona State Retirement System.
Signature Signature
Athena Elliston
Name Name
Chief Procurement Officer
Title Date Title Date
9/8/2022
Andi St John
Managing Director 9/8/22
File details come from the government source that posted it. Updated .