Common use of Changes in the Contract Price Clause in Contracts

Changes in the Contract Price. 10.3.1 Any change in the GMP resulting from a Change Order shall be determined as follows: (a) by mutual agreement between the City and the Construction Manager as evidenced by (1) the change in the GMP being set forth in the Change Order, (2) such change in the GMP, together with any conditions or requirements related thereto, being initialed by both parties, and (3) the Construction Manager's execution of the Change Order, or (b) if no mutual agreement occurs between the City and the Construction Manager, then, as provided in Subparagraph 10.3.2 below. 10.3.2 If no mutual agreement occurs between the City and the Construction Manager as contemplated in Subparagraph 10.3.1 above, the change in the GMP, if any, shall then be determined by the Project Architect on the basis of the reasonable expenditures or savings of those performing, deleting or revising the Work attributable to the change, including, in the case of an increase or decrease in the GMP, a reasonable allowance for direct job site overhead and profit. In such case, the Construction Manager shall present, in such form and with such content as the City or the Project Architect require, an itemized accounting of such expenditures or savings, plus appropriate supporting data for inclusion in a Change Order. 10.3.3 If unit prices are provided in the Contract, and if the quantities contemplated are so changed in a proposed Change Order that application of such unit prices to the quantities of Work proposed will cause substantial inequity to the City or to the Construction Manager, the applicable unit prices shall be equitably adjusted.

Changes in the Contract Price. 10.3.1 Any change in the GMP resulting from a Change Order shall be determined as follows: (a) by mutual agreement between the City and the Construction Manager ▇▇▇▇ as evidenced by (1) the change in the GMP being set forth in the Change Order, (2) such change in the GMP, together with any conditions or requirements related thereto, being initialed by both parties, and (3) the Construction Manager's ▇▇▇▇'▇ execution of the Change Order, or (b) if no mutual agreement occurs between the City and the Construction Manager▇▇▇▇, then, as provided in Subparagraph 10.3.2 below. 10.3.2 If no mutual agreement occurs between the City and the Construction Manager ▇▇▇▇ as contemplated in Subparagraph 10.3.1 above, the change in the GMP, if any, shall then be determined by the Project Architect on the basis of the reasonable expenditures or savings of those performing, deleting or revising the Work attributable to the change, including, in the case of an increase or decrease in the GMP, a reasonable allowance for direct job site overhead and profit. In such case, the Construction Manager ▇▇▇▇ shall present, in such form and with such content as the City or the Project Architect require, an itemized accounting of such expenditures or savings, plus appropriate supporting data for inclusion in a Change Order. 10.3.3 If unit prices are provided in the Contract, and if the quantities contemplated are so changed in a proposed Change Order that application of such unit prices to the quantities of Work proposed will cause substantial inequity to the City or to the Construction Manager▇▇▇▇, the applicable unit prices shall be equitably adjusted.