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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 to reflect actual amounts due CONTRACTOR on account of Work covered by allowances, and the Con- tract Price shall be correspondingly adjusted. 11.03 Unit Price Work A. Where the Contract Documents provide that all or part of the Work is to be Unit Price Work, initially the Contract Price will be deemed to include for all Unit Price Work an amount equal to the sum of the unit price for each separately identified item of Unit Price Work times the estimated quantity of each item as indicated in the Agreement. The estimated quantities of items of Unit Price Work are not guaran- teed and are solely for the purpose of comparison of Bids and determining an initial Contract Price. Deter- minations of the actual quantities and classifications of Unit Price Work performed by CONTRACTOR will be made by ENGINEER subject to the provisions of paragraph 9.08. B. Each unit price will be deemed to include an amount considered by CONTRACTOR to be ade- quate to cover CONTRACTOR's overhead and profit for each separately identified item. C. OWNER or CONTRACTOR may make a Claim for an adjustment in the Contract Price in accor- dance with paragraph 10.05 if: 1. the quantity of any item of Unit Price Work performed by CONTRACTOR differs materially and significantly from the estimated quantity of such item indicated in the Agreement; and 2. there is no corresponding adjustment with respect any other item of Work; and 3. if CONTRACTOR believes that CONTRACTOR is entitled to an increase in Contract Price as a result of having incurred additional expense or OWNER believes that OWNER is entitled to a decrease in Contract Price and the parties are unable to agree as to the amount of any such increase or decrease. 12.01 Change of Contract Price A. The Contract Price may only be changed by a Change Order or by a Written Amendment. Any Claim for an adjustment in the Contract Price shall be based on written notice submitted by the party making the Claim to the ENGINEER and the other party to the Contract in accordance with the provisions of para- graph 10.05. B. The value of any Work covered by a Change Order or of any Claim for an adjustment in the Contract Price will be determined as follows: 1. where the Work involved is covered by unit prices contained in the Contract Documents, by application of such unit prices to the quantities of the items involved (subject to the provisions of paragraph 11.03 ); or 2. where the Work involved is not cov- ered by unit prices contained in the Contract Documents, by a mutually agreed lump sum (which may include an allowance for overhead and profit not necessarily in accordance with paragraph 12.01.C.2); or 3. where the Work involved is not cov- ered by unit prices contained in the Contract Documents and agreement to a lump sum is not reached under paragraph 12.01.6.2, on the basis of the Cost of the Work (determined as provided in paragraph 11.01) plus a CONTRACTOR's fee for overhead and profit (determined as provided in paragraph 12.01.C). C. CONTRACTOR's Fee: The CONTRACTOR's fee for overhead and profit shall be determined as follows: 1. a mutually acceptable fixed fee; or 2. if a fixed fee is not agreed upon, then a fee based on the following percentages of the various portions of the Cost of the Work: a. for costs incurred under para- graphs 11.01.A.1 and 11.01.A.2, the CONTRACTOR's fee shall be 15 percent; b. for costs incurred under paragraph 11.01.A.3, the CONTRACTOR's fee shall be five percent; 00700 - General Conditions REV 5-10-13 00700 - 34 F:\Public Works\ENGINEERING DIVISION PROJECTS \1317 -85th St Milling_91 st Ave to 101st Ave\Admin\bid documents\Master Contract Documents\00700 - General Conditions REV 5- 10-13.doc