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34 <br /> <br />Revised 01/24 <br /> <br /> <br />The Owner shall advise the Contractor of its decision with respect to the claim within fourteen <br />(14) 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; provided, however, that <br />if, in its sole discretion, the Owner deems that review or consideration of any part of the claim or <br />any matter related thereto by its governing Board is necessary or appropriate, it shall so advise <br />the Contractor and shall provide its decision to the Contractor within seven (7) days after such <br />Board consideration, review or action. Any claim on which the Owner has not provided its <br />decision to the Contractor within the applicable time period shall be deemed denied. If the <br />Contractor is not satisfied with the decision of the Owner, the Contractor may within seven (7) <br />days of receipt of the Owner's decision initiate the mediation process as described in Appendix <br />A to the General Conditions of the Contract for Construction. <br /> <br />15.3 In determining the amount of a Contract Price adjustment, the parties shall apply the <br />following methods, as appropriate: <br /> <br />(A) Change in Work: The Owner and Contractor 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 Contractor are unable to <br />agree, the Owner shall grant an equitable adjustment in the Contract Price. <br /> <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 /> <br />15.4 Where the Contract Price is to be adjusted, the following limitations shall apply in <br />determining the amount of adjustment: <br /> <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 /> <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 /> <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 /> <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 />Docusign Envelope ID: 687B9CC7-F1BC-43DB-A291-A8D859EFA3B2