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quate to cover CONTRACTOR's overhead and profit Documents and agreement to a lump sum is for each separately identified item . not reached under paragraph 12 .01 . 13 .2 , on the basis of the Cost of the Work (determined as C . OWNER or CONTRACTOR may make a provided in paragraph 11 .01 ) plus a Claim for an adjustment in the Contract Price in accor- CONTRACTOR's fee for overhead and profit dance with paragraph 10 .05 if: (determined as provided in paragraph 12 .01 . C). 1 . the quantity of any item of Unit Price C . CONTRACTOR's Fee: The Work performed by CONTRACTOR differs CONTRACTOR's fee for overhead and profit shall be materially and significantly from the estimated determined as follows : quantity of such item indicated in the Agreement; and 1 . a mutually acceptable fixed fee; or 2 , there is no corresponding adjustment 2 . if a fixed fee is not agreed upon , then with respect any other item of Work; and a fee based on the following percentages of the various portions of the Cost of the Work: 3 . if CONTRACTOR believes that CONTRACTOR is entitled to an increase in a . for costs incurred under para- Contract Price as a result of having incurred graphs 11 .01 .A. 1 and 11 . 01 .A.2 , the additional expense or OWNER believes that CONTRACTOR's fee shall be 15 percent; OWNER- is entitled to a decrease in Contract Price and the parties are unable to agree as to b . for costs incurred under paragraph the amount of any such increase or decrease. 11 .01 .A. 3 , the CONTRACTOR's fee shall be five percent; ARTICLE 12 - CHANGE OF CONTRACT PRICE ; c. where one or more tiers of subcon- CHANGE OF CONTRACT TIMES tracts 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 12 .01 Change of Contract Price the Subcontractor who actually performs the Work, at whatever tier, will be paid a fee A. The Contract Price may only be changed by a of 15 percent of the costs incurred by such Change Order or by a Written Amendment , Any Subcontractor under paragraphs 11 .01 .A. 1 Claim for an adjustment in the Contract Price shall be and 11 . 01 .A.2 and that any higher tier based on written notice submitted by the party making Subcontractor and CONTRACTOR will the Claim to the ENGINEER and the other party to the each be paid a fee of five percent of the Contract in accordance with the provisions of para- amount paid to the next lower tier Subcon- graph 10 .05 . tractor; B . The value of any Work covered by a Change d . no fee shall be payable on the Order or of any Claim for an adjustment in the basis of costs itemized under paragraphs Contract Price will be determined as follows : 11 . 01 .A.4 , 11 . 01 .A.5 , and 11 .01 . 8 ; 1 . where the Work involved is covered e . the amount of credit to be allowed by unit prices contained in the Contract by CONTRACTOR to OWNER for any Documents , by application of such unit prices to change which results in a net decrease in the quantities of the items involved (subject .to cost will be the amount of the actual net the provisions of paragraph 11 .03 ); or decrease in cost plus a deduction in CONTRACTOR's fee by an amount equal 2 , where the Work involved is not cov- to five percent of such net decrease; and ered by unit prices contained in the Contract Documents, by a mutually agreed lump sum f. when both additions and credits are (which may include an allowance for overhead involved in any one change, the adjustment and profit not necessarily in accordance with in CONTRACTOR's fee shall be computed paragraph 12 .01 . C .2 ) ; or on the basis of the net change in accordance with paragraphs 12 . 01 . C .2 .a 3 , where the Work involved is not cov- through 12 .01 . C . 2 .e , inclusive , ered by unit prices contained in the Contract 00700 - General Conditions REV 04-07 00700 - 34 FAEngineering\Capital Projects\0206 5th ST SW & 43rd AVE Bridge Replacement & Roadway Improvements\CONTRACT BID\00700 - General Conditions REV 04-07 .doc