Agenda - Council - 08/23/2016 - Laserfiche WebLink

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3. Contractor believes that Contractor is 1. a mutually acceptable fixed fee;or entitled to an increase in Contract Price as a result of having incurred additional 2. if a fixed fee is not agreed upon, then a expense or Owner believes that Owner is fee based on the following percentages of entitled to a decrease in Contract Price the various portions of the Cost of the and the parties are unable to agree as to Work: the amount of any such increase or decrease. a. for costs incurred under Paragraphs 11.0I.A.1 and 11.0l.A.2, the ARTICLE 12—CHANGE OF CONTRACT PRICE; Contractor's fee shall be 15 percent; CHANGE OF CONTRACT TIMES b. for costs incurred under Paragraph 12.01 Change of Contract Price 11.0l.A.3, the Contractor's fee shall be five percent; A. The Contract Price may only be changed by a Change Order. Any Claim for an adjustment c. where one or more tiers of in the Contract Price shall be based on written subcontracts are on the basis of Cost notice submitted by the party making the of the Work plus a fee and no fixed Claim to the Engineer and the other party to fee is agreed upon, the intent of the Contract in accordance with the provisions Paragraph 12.01.C.2.a is that the of Paragraph 10.05. Subcontractor who actually performs the Work, at whatever tier, will be B. The value of any Work covered by a Change paid a fee of 15 percent of the costs Order or of any Claim for an adjustment in the incurred by such Subcontractor Contract Price will be determined as follows: under Paragraphs 11.01.A.1 and 11.0l.A.2 and that any higher tier 1. where the Work involved is covered by Subcontractor and Contractor will unit prices contained in the Contract each be paid a fee of five percent of Documents, by application of such unit the amount paid to the next lower prices to the quantities of the items tier Subcontractor; involved (subject to the provisions of Paragraph 11.03);or d. no fee shall be payable on the basis of costs itemized under Paragraphs 2. where the Work involved is not covered 11.0I.A.4, 11.0I.A.5,and 11.01.B; by unit prices contained in the Contract Documents, by a mutually agreed lump e. the amount of credit to be allowed sum(which may include an allowance for by Contractor to Owner for any overhead and profit not necessarily in change which results in a net accordance with Paragraph 12.0l.C.2); decrease in cost will be the amount or of the actual net decrease in cost plus a deduction in Contractor's fee by an 3. where the Work involved is not covered amount equal to five percent of such by unit prices contained in the Contract net decrease;and Documents and agreement to a lump sum is not reached under Paragraph f. when both additions and credits are 12.013.2,on the basis of the Cost of the involved in any one change, the Work (determined as provided in adjustment in Contractor's fee shall Paragraph 11.01) plus a Contractor's fee be computed on the basis of the net for overhead and profit (determined as change in accordance with provided in Paragraph 12.01.C). Paragraphs 12.01.C.2.a through 12.0l.C.2.e,inclusive. C. Contractor's Fee: The Contractor's fee for overhead and profit shall be determined as follows: Standard General Conditions 00 72 00-36