Mountain Empire Unified Awards Construction Contract to Erickson-hall Construction Company (June 2026)

Guaranteed Maximum Price (GMP) to be established under Article 5 of the Construction Services Agreement; Sublease Payments equal to portions of the GMP as work is completed, not to exceed the GMP

CONSTRUCTION

Effective upon authorized execution of the Sublease and issuance of the Notice to Proceed, continuing until payment of the last Sublease Payment or earlier termination under the Sublease, Site Lease, or Construction Services Agreement

The Sublease term automatically ends upon payment of the final Sublease Payment, occurrence of an Event of Default with Lessor’s termination, or the District’s exercise of its purchase option by prepaying the remaining amount of the Guaranteed Maximum Price. The District may at any time make Sublease Prepayments and exercise an option to purchase the Project in as-is condition for the then-remaining balance of the GMP, reduced by prior Sublease Payments and Prepayments; upon Substantial Completion and Notice of Completion, Lessor’s leasehold interest and related liens are released.

Agreement