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DocuSign Envelope ID:78B556CA-0O28-4315-8EF4-948059C1C6F0 <br /> 34 <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 Contractor are unable to <br /> agree, the Owner shall grant an equitable adjustment in the Contract Price. <br /> (B) Emergency Work: In the event of emergency endangering life or property, the <br /> Contractor may be directed by the Designer to proceed on a time and material basis, <br /> whereupon the Contractor shall so proceed and keep accurately, in such form as may be <br /> required by the Designer, a correct account of costs together with all proper invoices, payrolls, <br /> 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 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 Contractor 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 /> The term 'net cost' as used herein shall include, as applicable, and shall be limited to, all direct <br /> labor, direct material, direct equipment, labor burden, sales taxes, shipping and handling <br /> charges, permits and fees, and insurance and bond premium adjustments, if any, attributable to <br /> the change. All other items of cost shall be considered as overhead and covered by the <br /> percentages allowed in sections A and B of this paragraph. <br /> The Contractor shall provide worksheets or tabulations describing the method by which the <br /> direct net cost was calculated, and shall provide all data needed to support the calculation of the <br /> direct net cost, all in a form acceptable to the Owner. <br /> 15.5 Where the Contract Price is to be adjusted by negotiation, the Owner may authorize and <br /> designate the Designer to negotiate with the Contractor on behalf of the Owner; provided, <br /> however, any agreement reached between the Contractor and Designer shall be subject to <br /> approval by the Owner. <br /> ARTICLE 16. UNFORESEEN CONDITIONS <br /> 16.1 Should the Contractor encounter unforeseen conditions at the Project site materially <br /> differing from those shown on the Drawings or indicated in the Specifications or differing <br /> materially from those ordinarily encountered and generally recognized as inherent in work of the <br /> character provided for in this Agreement, the Contractor shall immediately, and in no event <br /> more than three days later, give notice to the Owner of such conditions before they are <br /> disturbed. The Owner and the Designer shall thereupon promptly investigate the conditions and <br /> if they find that they materially differ from those shown on the Drawings or indicated in the <br /> Specifications, they shall at once make such changes in the Drawings and Specifications as <br /> they may find necessary. Any increase or decrease in the Contract Price resulting from such <br /> Revised NETPLANNER v2 <br />