Neptune General Contractors 1/25/2022

1 such payment. Such payment shall be made under terms and conditions governing final payment,except that it shall not constitute a waiver of claims. Acceptance of final payment by the Contractor,a Subcontractor or material Supplier shall constitute a waiver of Contract Claims by that payee,except those Contract Claims previously timely and completely submitted that remain pending at the time of final payment,provided that Contractor specifically so notifies the Owner in writing prior to the Owner making such final payment. Payment by the Owner shall not release the Contractor or its surety from any obligation under the Contract or under the payment and performance bond. 9.2. PAYMENT FOR CHANGES I 9.2.1. Changes in Estimated Quantities of Unit Price Work Contractor will be paid only for the actual quantities of Work performed and accepted in conformance 1 with the Contract.When the accepted quantities of an item of Unit Price Work vary from the quantities originally estimated in the Contract Documents,payment will be at the Contract unit prices for accepted Work. If the total quantity of a Unit Price Work item varies by more than twenty-five percent(25%)from the quantity originally estimated in the Contract Documents,that part of the variance exceeding twenty- five percent(25%)may be adjusted as follows: 9.2.1.1. Increased Quantities Either party to the Contract will be entitled to renegotiate the price for that portion of the actual quantity in excess of one hundred twenty-five percent(125%)of the original Bid quantity. The price for increased quantities will be determined by agreement of the parties, or,where the parties cannot agree,the price will 111 be determined by the Owner's Representative based upon the actual costs to perform the Work, including reasonable markup for Overhead and profit. 9.2.1.2. Decreased Quantities I Either party to the Contract will be entitled to an adjustment of Contract Sum if the actual quantity of Work performed is less than seventy-five percent(75%)of the original Bid quantity. The adjustment of Contract Sum in the case of decreased quantities shall be based upon any increase or decrease in costs due solely to the variation of the estimated quantity. The total payment for any item will be limited to no more than seventy-five percent(75%)of the amount originally Bid for the item. 9.2.1.3. Limitations The following limitations shall apply to the adjustment: 1. The equipment rates shall be actual cost but shall not exceed the rates set forth in the AGC/WSDOT Equipment Rental Agreement in effect at the time the Work is performed. 2. No payment will be made for extended or unabsorbed home office Overhead and field Overhead expenses to the extent that there is an unbalanced allocation of such expenses among the Contract bid items. 3. No payment for consequential damages or loss of anticipated profits will be allowed because of variance in quantities from those originally shown in the bid form,Contract provision,and Drawings. When ordered by the Owner's Representative,the Contractor shall proceed with the Work pending determination of the adjustment of Contract Sum or Contract Time for the variation in quantities. The Owner will not adjust for increases or decreases if the Owner has entered the amount for the item in the bid form only to provide a common Bid for Bidders. I General Conditions—007200-34 I