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