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ARTICLE 12 - CHANGE OF CONTRACT PRICE , I . Contractor agrees that a contingency allowance, CHANGE OF CONTRACT TIMES if any, is for the sole use of Owner to cover unanticipated costs. 12.01 Change of Contract Price D. Prior to final payment, an appropriate Change Order will be issued as recommended by Engineer to reflect A . The Contract Price may only be changed by a Change actual amounts due Contractor on account of Work Order. Any Claim for an adjustment in the Contract Price covered by allowances, and the Contract Price shall be shall be based on written notice submitted by the party correspondingly adjusted. making the Claim to the Engineer and the other party to the Contract in accordance with the provisions of 11 .03 Unit Price Work Paragraph 10.05. A. Where the Contract Documents provide that all or part B. The value of any Work covered by a Change Order or of the Work is to be Unit Price Work, initially the of any Claim for an adjustment in the Contract Price will Contract Price will be deemed to include for all Unit Price be determined as follows: Work an amount equal to the sum of the unit price for each separately identified item of Unit Price Work times 1 . where the Work involved is covered by unit the estimated quantity of each item as indicated in the prices contained in the Contract Documents, by Agreement. application of such unit prices to the quantities of the items involved (subject to the provisions of B. The estimated quantities of items of Unit Price Work Paraeraoh 11 .031: or are not guaranteed and are solely for the purpose of v comparison of Bids and determining an initial Contract 2 . where the Work involved is not covered by unit Price. Determinations of the actual quantities and prices contained in the Contract Documents, by a classifications of Unit Price Work performed by mutually agreed lump sum (which may include an Contractor will be made by Engineer subject to the allowance for overhead and profit not necessarily in provisions of Paragraph 9.07. accordance with Paragraph 12.01 .C.2); or C. Each unit price will be deemed to include an amount 3 . where the Work involved is not covered by unit considered by Contractor to be adequate to cover prices contained in the Contract Documents and Contractor's overhead and profit for each separately agreement to a lump sum is not reached under identified item. Paragraph 12.01 . 6.2, on the basis of the Cost of the Work (determined as provided in Paragraph 11 .01 ) D. Owner- 01- Contractor may make a Claim for an plus a Contractor's fee for overhead and profit (deter- adjustment in the Contract Price in accordance with mined as provided in Paragraph 12.0LQ- Paragraph 10.05 if: C. Contractor 's Fee: The Contractor' s fee for overhead 1 . the quantity of any item of Unit Price Work and profit shall be determined as follows : performed by Contractor differs materially and significantly from the estimated quantity of such item 1 . a mutually acceptable fixed fee; or indicated in the Agreement; and 2. if a fixed fee is not agreed upon, then a fee based 2. there is no corresponding adjustment with on the following percentages of the various portions respect any other item of Work ; and of the Cost of the Work : 3 . Contractor believes that Contractor is entitled to a. for costs incurred under Paragraphs 11 .0LA . I an increase in Contract Price as a result of having and 11 .0I .A.2, the Contractor' s fee shall be 15 incurred additional expense or Owner believes that - percent; Owner is entitled to a decrease in Contract Price and the parties are unable to agree as to the amount of any b. for costs incurred under Paragraph 11 .01 .A .35 such increase or decrease. the Contractor's fee shall be five percent; c. where one or more tiers of subcontracts are on the basis of Cost of the Work plus a fee and no fixed fee is agreed upon, the intent of Paragraph 12.01 .C.2.a is that the Subcontractor who actually performs the Work, at whatever tier, will be paid a fee of 15 percent of the costs incurred by such Subcontractor under Paragraphs 1 LOLA . I and 11 .01 .A .2 and that any higher tier EJCDC C-700 Standard General Conditions of the Construction Contract. Copyright ® 2002 National Society of Professional Engineers for EJCDC. All rights reserved. 00700 - 32