B. Each unit price will be deemed to include an amount considered by CONTRACTOR to be adequate to cover
CONTRACTOR's overhead and profit for each separately identified item.
ARTICLE 12 - CHANGE OF CONTRACT PRICE; CHANGE OF CONTRACT TIMES
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 paragraph 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 covered 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 covered by unit prices contained in the Contract Documents an agreement to a
lump sum is not reached under paragraph 12.01.B.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 paragraphs 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;
c. Where one or more tiers of subcontracts 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 the Subcontractor who actually performs the Work,
at whatever tier, will be paid a fee of 15 percent of the costs incurred by such Subcontractor under paragraphs
11.01.A.1 and 11.01.A.2 and that any higher tier Subcontractor and CONTRACTOR will each be paid a fee of
five percent of the amount paid to the next lower tier Subcontractor;
d. No fee shall be payable on the basis of costs itemized under paragraphs 11.01.A.4, 11.01.A.5, and 11.01.B;
e. The amount of credit to be allowed by CONTRACTOR to OWNER for any change which results in a net
decrease in cost will be the amount of the actual net decrease in cost plus a deduction in CONTRACTOR's fee
by an amount equal to five percent of such net decrease; and
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