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payment on account of any of the foregoing will ARTICLE 12 - CHANGE OF CONTRACT PRICE; be valid . CHANGE OF CONTRACT TIMES B. Prior to final payment, an appropriate Change Order will be issued as recommended by ENGINEER 12 .01 Change of Contract Price to reflect actual amounts due CONTRACTOR on account of Work covered by allowances, and the Con- A. The Contract Price may only be changed by a tract Price shall be correspondingly adjusted . Change Order or by a Written Amendment, Any Claim for an adjustment in the Contract Price shall be 11 .03 Unit Price Work based on written notice submitted by the party making the Claim to the ENGINEER and the other party to the A. Where the Contract Documents provide that Contract in accordance with the provisions of para- all or part of the Work is to be Unit Price Work, initially graph 10 .05. the Contract Price will be deemed to include for all Unit Price Work an amount equal to the sum of the B . The value of any Work covered by a Change unit price for each separately identified item of Unit Order or of any Claim for an adjustment in the Price Work times the estimated quantity of each item Contract Price will be determined as follows: as indicated in the Agreement. The estimated quantities of items of Unit Price Work are not guaran- 1 . where the Work involved is covered teed and are solely for the purpose of comparison of by unit prices contained in the Contract Bids and determining an initial Contract Price. Deter= Documents, by application of such unit prices to minations of the actual quantities and classifications of the quantities of the items involved (subject to Unit Price Work performed by CONTRACTOR will be the provisions of paragraph 11 .03 ); or made by ENGINEER subject to the provisions of paragraph 9.08 . 28 where the Work involved is not cov- ered by unit prices contained in the Contract B . Each unit price will be deemed to include an Documents , by a mutually agreed lump sum amount considered by CONTRACTOR to be ade- (which may include an allowance for overhead quate to cover CONTRACTOR Is overhead and profit and profit not necessarily in accordance .with for each separately identified item . paragraph 12 .01 .C.2), or C . OWNER or CONTRACTOR may make a 3a where the Work involved is not cov- Claim for an adjustment in the Contract Price in accor- ered by unit prices contained in the Contract dance with paragraph 10 .05 if: Documents and agreement to a lump sum is not reached under paragraph 12 .01 .B .2, on the 1 . the quantity of any item of Unit Price basis of the Cost of the Work (determined as Work performed by CONTRACTOR differs provided in paragraph 11 .01 ) plus a materially and significantly from the estimated CONTRACTOR's fee for overhead and profit quantity of such item indicated in the (determined as provided in paragraph 12 .01 .C). Agreement; and C . CONTRACTOR's Fee: The 2a there is no corresponding adjustment CONTRACTOR's fee for overhead and profit shall be with respect any other item of Work; and determined as follows : 3 . if CONTRACTOR believes that 1 . a mutually acceptable fixed fee, or CONTRACTOR is entitled to an increase in Contract Price as a result of having incurred 26 if a fixed fee is not agreed upon , then additional expense or OWNER believes that a fee based on the following percentages of the OWNER is entitled to a decrease in Contract various portions of the Cost of the Work: Price and the parties are unable to agree as to the amount of any such increase or decrease . a. for costs incurred under para- graphs 11 .01 .A. 1 and 11 .01 .A.29 the CONTRACTOR's fee shall be 15 percent; bo for costs incurred under paragraph 11 .01 .A.3 , the CONTRACTOR's fee shall be five percent; 00700 - General Conditions REV 04-07.doc 00700 - 34 FAPublic Works\ENGINEERING DIVISION PROJECTS\11314R Blvd Resurfacing 41st St to 53rd St-SEE PROJ 0927Wdmim\Contract Documents\00700 - General Conditions REV 04 07.doc