03-25-2015 Council Packet - Laserfiche WebLink

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General Conditions such occurrence unless Owner allows an additional period of time to ascertain accurate cost data. Any change in the Contractor's Compensation resulting from any such claim shall be incorporated in any Change Orders. 7.3 13AS1S OF CHANGE The cost or credit to the Owner resulting from a change in the Work shall be determined and mutually agreed upon in advance of performance of the change in Work in one or more of the following ways: 7,3.1 By mutual acceptance ofa bump sum properly itemized. 7.3.2 13y unit prices stated in the Contract Documents or subsequently agreed upon (unit prices shall include an allowance for Contractor's main office expense, overhead, profit and bond), or 7.3.3 I3y mutual acceptance of actual cost of the changed Work, plus an allowance for overhead, supervision and profit as subsequently agreed upon. The Owner shall have the right to examine, inspect, copy and audit the books and records of any Contractor or subcontractor making claim for reimbursement for costs and alioWanCeS hereunder in order to verify the accuracy, Correctness, completeness and propriety of all costs and allowances claimed. 7.4 WORK PERFORMED BY SUBCONTRACTORS The Contractor's fees for Work performed by subcontractors shall he a minimum of 5% up to a maximum of 10% (as determined in the sole discretion of the, Owner, for such Work where the Work performed by subcontractors is supervised by the Contractor) as compensation for all other costs and expenses including administrative overhead, profit and supervision. 8. SUSPENSION OF WORK AND TERMINATION 8.1 OWNER MAY SUSPEND WORK Owner may, at any time and without cause, suspend the Work or any portion thereof for a period of not more than ninety days by notice in writing to Contractor which shall fix the date on which Work shall be resumed. Contractor shall resume the Work on the date so fixed, Contractor will be allowed an increase in the Contractor's Compensation or an extorsion of the Contract Time, or both, directly attributable to any suspension if it makes a claim therefor as provided in Section 7. 8.2 OWNER MAY TERMINATE Owner may terminate the Contract upon the occurrence of any one or more of the following events: 8.2.1 If Contractor is adjudged bankrupt or insolvent, 8.2.2 If Contractor makes a general assignment for the benefit of creditors, 8.2.3 If a trustee or receiver is appointed for Contractor or for any of Contractor's property, City of Little Canada, City Hall Audio/Video Project 23 27