Agenda - 06-26-2007-4dd - Laserfiche WebLink

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determined as provided in paragraphs 15.3 through 15.4, below. Any change in the Contract Price resulting from any such claim shall be incorporated in a Change Order. The CM shall advise the Contractor of its decision with respect to the claim within thirty (30) days of its receipt, or of the receipt of additional documentation or information if the absence of such has previously been the basis of rejection of the claim. Any claim on which the CM has not provided its decision to the Contractor within the applicable time period shall be deemed denied. If the Contractor is not satisfied with the decision of the CM, the Contractor may within seven (7} days of receipt of the CM's decision initiate the mediation process as described in Appendix A to these General Conditions. 15.3 In determining the amount of a Contract Price adjustment, the parties shall apply the following methods, as appropriate: (a} Change in Work: The CM and the Contractor shall negotiate in good faith and attempt to agree upon the value of any change (extra or decrease} in Work prior to the issuance of a Change Order covering said Work. Such Change Order shall set forth the corresponding adjustment to the Contract Price. In the event the CM and the Contractor are unable to agree, the CM shall grant an equitable adjustment in the Contract Price. (b) Emergency Work: In the event of emergency endangering life or property, the Contractor may be directed by the CM to proceed on a time and material basis, whereupon the Contractor shall so proceed and keep accurately, in such form as may be required by the CM, a correct account of costs together with all proper invoices, payrolls, and supporting data therefore. 15.4 Where the Contract Price is to be adjusted, the following limitations shall apply in determining the amount of adjustment: (a) In the case of extra or emergency work, the Contract Price shall not be increased by more than the reasonable, actual, and documented net cost of the extra or emergency work plus ten percent (10%) of such net cost on Work performed by the Contractor and five percent (5%) thereof on any subcontracted Work for overhead and profit combined. (b) In the case of a decrease in Work, the Contract Price shall not be decreased by less than the net cast of the deleted Work plus five percent (5%) of such direct net cost for profit and overhead. The term 'net cost' as used herein shall include, as applicable, and shall be limited to, all direct labor, direct material, direct equipment, labor burden, sales taxes, shipping and handling charges, permits and fees, and insurance and bond premium adjustments, if any, attributable to the change. All other items of cost shall be considered as overhead and covered by the percentages allowed in sections (a) and (b) of this paragraph. The Contractor shall provide worksheets or tabulations describing the method by which the direct net cost was calculated, and shall provide all data needed to support the calculation of the direct net cost, all in a form acceptable to the CM. ARTICLE 16. UNFORESEEN CONDITIONS 16.1 Should the Contractor encounter unforeseen conditions at the Project site materially differing from those shown on the Drawings or indicated in the Specifications or differing GENERAL CONDITIONS FOR CM AT RISK PROJECT 32 of 43 JUNE 2007 EDITION