Reso 2016-2525 - Laserfiche WebLink

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4. Cost of premiums for all Bonds and for all insurance whether or not CONTRACTOR is required by the Contract Documents to purchase and maintain the same, except for additional bonds and insurance required because of changes in the work. 5. Costs due to the negligence or neglect of CONTRACTOR, any Subcontractors, or anyone directly or indirectly employed by any of them or for whose acts any of them may be liable, including but not limited to, the correction of defective work, disposal of materials or equipment wrongly supplied and making good any damage to property. 6. Other overhead or general expense costs of any kind and the cost of any item not specifically and expressly included in Paragraph B. D. CONTRACTOR's fee allowed to CONTRACTOR for overhead and profit shall be determined as follows: 1. A mutually acceptable fixed fee or if none can be agreed upon, 2. A fee based on the following percentages of the various portions of the cost of the work: (i) For costs incurred under Paragraphs B.1 and B.2, CONTRACTOR's fee shall not exceed ten percent (10%), (ii) For costs incurred under Paragraph B.3, CONTRACTOR's fee shall not exceed seven and one half percent (7.5%); and if a subcontract is on the basis of cost of the work plus a fee, the maximum allowable to the Subcontractor as a fee for overhead and profit shall not exceed ten percent (10%); and (iii) No fee shall be payable on the basis of costs itemized under Paragraphs B.4 and B.5, (except Paragraph B.5.(iii)), and Paragraph C. E. The amount of credit to be allowed by CONTRACTOR to OWNER for any such change which results in a net decrease in cost, will be the amount of the actual net decrease. When both additions and credits are involved in any one change, the combined overhead and profit shall be figured on the basis of the net increase, if any, however, CONTRACTOR shall not be entitled to claim lost profits for any Work not performed. F. Whenever the cost of any work is to be determined pursuant to Paragraphs B and C, CONTRACTOR will submit in a form acceptable to ENGINEER OF RECORD an itemized cost breakdown together with the supporting data. G. Where the quantity of any item of the Work that is covered by a unit price is increased or decreased by more than twenty percent (20%) from the quantity of such work indicated in the Contract Documents, an appropriate Change Order shall be issued to adjust the unit price, if warranted. H. Whenever a change in the Work is to be based on mutual acceptance of a lump sum, whether the amount is an addition, credit or no change-in-cost, CONTRACTOR shall submit an initial cost estimate acceptable to ENGINEER OF RECORD and Contract Administrator. 1. Breakdown shall list the quantities and unit prices for materials, labor, equipment and other items of cost. 00800- 10/13 u11 r, •