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10.3.3.4 Overhead and Profit <br />(a) Subcontractor's overhead, including supervision and the furnishing, use and <br />maintenance of small tools and ordinary equipment incidental to and <br />required for the Work shall be just and fully compensated for by adding an <br />amount equal to FIVE PERCENT (5%) of the sum of material and labor costs <br />as defined under Subcontractor's profit below, but excluding equipment <br />rental costs. <br />(b) Subcontractor's profit may then be added to the above material costs and <br />labor costs including the Overhead allowance at the rate of FIVE PERCENT <br />(5%) of the sum of those costs, excluding equipment rental costs. <br />(c) Contractor's overhead, including general supervision and the furnishing, use <br />and maintenance of small tools incidental to and required for the Work <br />accomplished by its own direct labor shall be considered to be just and fully <br />compensated for by adding an amount equal to FIVE PERCENT (5%) of the <br />sum of material and labor costs as defined under Material costs and Labor <br />costs below, but excluding equipment rental costs and bond allowance. <br />(d) Contractor's overhead, including general supervision and the furnishing, use <br />and maintenance of small tools and equipment incidental to and required <br />for the Work accomplished by subcontractors shall be considered to be just <br />and fully compensated for by adding an amount equal to FIVE PERCENT (5%) <br />of the sum of material and labor costs as defined under Material costs and <br />Labor costs below, but excluding equipment rental costs and bond <br />allowance. <br />(e) Contractor's profit may then be added into the above material costs and <br />labor costs, including the Overhead allowance at the rate of FIVE PERCENT <br />(5%) of the sum of those costs, excluding equipment rental costs. <br />10.3.3.5. Bond Allowance. For maintaining the Public Construction Bond at 100% of the <br />Contract Price, a sum of ONE PERCENT (1%) of the total cost of the 6hange (including material, <br />labor, overhead and profit, and equipment rental) shall be allowed on all change orders. <br />10.3.3.6. Material costs actually recorded by the Contractor and the subcontractor as <br />materials are delivered to the site and, as evidenced from originally receipted invoices, listing <br />appropriate quantities and unit prices. Records in proper form shall be maintained and made <br />available to the Engineer / Architect and the City at all times. <br />10.3.3.7. Labor Costs represented by the actual wages paid to all laborers, apprentices, <br />journeymen, and foremen involved in and necessary to completing the particular construction <br />operations, for each day and every hour such labor teams and foremen are actually employed on <br />the extra work required, including the net cost of insurance, social security and Workmen's <br />Page 25 of 42 <br />