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documentation or information. No claim for a change of the Contract Price shall be <br />considered or granted (except solely at the discretion of the CM) unless a claim is so made, <br />nor shall the Contractor be entitled to any increase in the Contract Price unless the <br />Contractor has given notice and made such a written claim within the times required. The <br />CM shall decide, after obtaining the advice of the Owner and the Designer, whether an <br />increase in Contract Price is warranted, and the amount of such increase shall be <br />determined as provided in paragraphs 15.3 through 15.4, below. Any change in the <br />Contract Price resulting from any such claim shall be incorporated in a Change Order. <br />The CM shall advise the Contractor of its decision with respect to the claim within thirty (30) <br />days of its receipt, or of the receipt of additional documentation or information if the <br />absence of such has previously been the basis of rejection of the claim. Any claim on which <br />the CM has not provided its decision to the Contractor within the applicable time period <br />shall be deemed denied. <br />If the Contractor is -not satisfied with the decision of the CM, the Contractor may within <br />seven (7) days of receipt of the CM's decision initiate the mediation process as described in <br />Appendix A to these General Conditions. <br />15.3 In determining the amount of a Contract Price adjustment, the parties shall apply the <br />following methods, as appropriate: <br />(a) Change in Work: The CM and the Contractor shall negotiate in good faith and attempt <br />to agree upon the value of any change (extra or decrease) in Work prior to the <br />issuance of a Change Order covering said Work. Such Change Order shall set forth <br />the corresponding adjustment to the Contract Price. In the event the CM and the <br />Contractor are unable to agree, the CM shall grant an equitable adjustment in the <br />Contract Price. <br />(b) Emergency Work: In the event of emergency endangering life or property, the <br />Contractor may be directed by the CM to proceed on a time and material basis, <br />whereupon the Contractor shall so proceed and keep accurately, in such form as may <br />be required by the CM, a correct account of costs together with all proper invoices, <br />payrolls, and supporting data therefore. <br />15.4 Where the Contract Price is to be adjusted, the following limitations shall apply in <br />determining the amount of adjustment: <br />(a) In the case of extra or emergency work, the Contract Price shall not be increased by <br />more than the reasonable, actual, and documented net cost of the extra or emergency <br />work plus ten percent (10%) of such net cost on Work performed by the Contractor and <br />five percent (5%) thereof on any subcontracted Work for overhead and profit combined. <br />(b) In the case of a decrease in Work, the Contract Price shall not be decreased by less <br />than the net cost of the deleted Work plus five percent (5%) of such direct net cost for <br />profit and overhead. <br />The term 'net cost' as used herein shall include, as applicable, and shall be limited to, all <br />direct labor, direct material, direct equipment, labor burden, sales taxes, shipping and <br />handling charges, permits and fees, and insurance and bond premium adjustments, if any, <br />attributable to the change. All other items of cost shall be considered as overhead and <br />covered by the percentages allowed in sections (a) and (b) of this paragraph. <br />GENERAL CONDITIONS FOR CM AT RISK PROJECT 32 of 43 JUNE 2007 EDITION <br />