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DocuSign Envelope ID:865881 C3-FBC1-4A19-8098-B2B092F29435 <br /> 34 <br /> made, nor shall the Design-Builder be entitled to any increase in the Contract Price unless the <br /> Design-Builder has given notice and made such a written claim within the times required. The <br /> Owner shall decide, after obtaining the advice of the <br /> Owner's Authorized Representative, whether an increase in Contract Price is warranted, and <br /> the amount of such increase shall be determined as provided in paragraph 15.4 through 15.5, <br /> below. Any change in the Contract Price resulting from any such claim shall be incorporated in a <br /> Change Order. <br /> (c) The Owner shall advise the Design-Builder of its decision with respect to the claim within <br /> fourteen (14) days of its receipt, or of the receipt of additional documentation or information if <br /> the absence of such has previously been the basis of rejection of the claim; provided, however, <br /> that if, in its sole discretion, the Owner deems that review or consideration of any part of the <br /> claim or any matter related thereto by its governing Board is necessary or appropriate, it shall so <br /> advise the Design-Builder and shall provide its decision to the Design-Builder within seven (7) <br /> days after such Board consideration, review or action. Any claim on which the Owner has not <br /> provided its decision to the Design-Builder within the applicable time period shall be deemed <br /> denied. If the Design-Builder is not satisfied with the decision of the Owner, the Design-Builder <br /> may within seven (7) days of receipt of the Owner's decision initiate the mediation process as <br /> described in Appendix A to the Supplementary Conditions of the Design Build Contract. <br /> 14.3 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 Owner and Design-Builder shall negotiate in good faith and attempt to <br /> agree upon the value of any change (extra or decrease) in Work prior to the issuance of a <br /> Change Order covering said Work. Such Change Order shall set forth the corresponding <br /> adjustment to the Contract Price. In the event the Owner and the Design-Builder are unable to <br /> agree, the Owner may grant an equitable adjustment in the Contract Price. <br /> (b) Emergency Work: In the event of emergency endangering life or property, the <br /> Design-Builder may be directed by the Owner's Authorized Representative to proceed on a time <br /> and material basis, whereupon the Design-Builder shall so proceed and keep accurately, in <br /> such form as may be required by the Owner's Authorized Representative, a correct account of <br /> costs together with all proper invoices, payrolls, and supporting data therefore. <br /> 14.4 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 more <br /> than the reasonable, actual, and documented net cost of the extra or emergency work plus ten <br /> percent (10%) of such net cost on Work performed by the Design-Builder and five percent (5%) <br /> 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 than <br /> the net cost of the deleted Work plus five percent (5%) of such direct net cost for profit and <br /> overhead. <br /> (c) 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 handling <br /> Revised 2/17 <br />