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12.1.4 Constructlon Contract Price Savings and Overruns <br />The CMAR shall as part of cost control under its Basic Services <br />report the adjusted final actual price of each item or division of <br />the Work the price of which was based on estimated quanfdies, <br />allowances or other conditional pricing and, when the final price <br />is determined, adjust the Guaranteed Maximum Price as <br />follows: <br />12.1.4.1 if the final adjusted price of any item or division of the <br />Work is less than the amount reflected in the approved <br />Guaranteed Maximum Pace, as determined in accordance with <br />the terms of this Agreement, the amount indicated in the <br />Guaranteed Maximum Price for the cost of such item shall be <br />reduced by an amount equal to the difference between the fleet <br />adjusted cost and the original amount indicated in the <br />Guaranteed Maximum Price for the cost of such item, and the <br />Contingency shall be increased by the same difference. <br />12.1.4.2 if the final adjusted price of any item or division of the <br />Work is greater than the amount reflected in the approved <br />Guaranteed Maximum Price, as determined in accordance with <br />the teens of this Agreement, to the extent that the Contingency <br />is sufficient, the amount indicated in the Guaranteed Maximum <br />Price for the cost of such Item shall be increased by an amount <br />equal to the difference between the final adjusted cost and the <br />original amount indicated in the Guaranteed Maximum Price for <br />the cost of such item, and the Contingency shall be decreased <br />by the same difference. <br />12.1.4.3 Regardless of the final adjusted price of any item or <br />division of the Work that differs from the amount reflected in the <br />approved Guaranteed Maximum Price, the Guaranteed <br />Maximum Price shall not be adjusted, except pursuant to an <br />approved change order. <br />12.1.5 C ange of Contractor Ordered by Owner <br />ff the Owner directs the CMAR to award a contract to a bidder <br />other than the lowest responsible and responsive pre-qualified <br />bidder for any potion of the Project, the Guaranteed Maximum <br />Price shall be increased by the amount of the difference <br />between the award price and the price submitted by the lowest <br />responsible and responsive bidder. <br />12.1.6 Costs in 6ccess of Guaranteed Maximum Price <br />In the event that the sum of the Cost of the Work exceeds the <br />Guaranteed Maximum Pdce and any adjustments therein as <br />may 6e due pursuant to the terms hereof, the CMAR shalt <br />continue to perform at no additional cost to the Owner until the <br />Project, defined by this Agreement and all Attachments hen:to, <br />is complete. The CMAR shall be responsible for paying all <br />costs in accordance with the terms of this Agreement that may <br />be necessary to complete the Project, even if such amounts <br />are in aggregate in excess of the Guaranteed Maximum Price. <br />This Agreement is executed the day and year first written <br />above. <br />CMAR: RESOLUTE BUILDING COMPANY, INC. <br />P.O. Box 3656 <br />Ghapei Hlii, NC 27515 <br />By: <br />Title: <br />(President) (Manager) <br />Attest <br />By: <br />Title: <br />(Secretary) (Manager) (Witness) <br />OWNER: ORANGE COUNTY <br />P. O. Box 8181 <br />Hiifsborough, N.G. 27278 <br />By: <br />Chair <br />Orange County Board of Commissioners <br />Attest: <br />Donna 5. Baker <br />Clerk to the Board <br />This instrument has been pre-audited in the manner required <br />by the local Government Budget and Fiscal Control Act <br />Orange County Finance Officer <br />This instrument Is approved as to Form. <br />Orange County Attorney <br />32 <br />