Costs Included. The term “Cost of the Work” shall mean the sum of all costs necessarily incurred and paid by Contractor in the proper performance of the Work as set forth in this Section 11.1. When the value of Work covered by a Change Order or when a Claim for an adjustment in the Contract Price is determined based on the Cost of the Work, the costs to be reimbursed to Contractor will only be those additional or incremental costs required because of the change in the Work or because of the event giving rise to the Claim. These costs will also form the basis for Contractor’s recoverable costs which are associated with extensions of the Contract Time caused by changed Work, or other cause solely within the control of the Contracting Officer, and which are further substantiated by Contractor in accordance with the requirements of Article 12; recoverable costs related to extensions of any Key Completion Time caused by changed Work shall be at the sole discretion of the Contracting Officer. Except as otherwise may be agreed to in writing by Owner, such costs shall be in amounts no higher than those prevailing in the locality of the Project, and shall not include any of the costs itemized in Section 11.1.2, and shall include only the following items:
Appears in 3 contracts
Sources: Construction Agreement, Design Build Agreement, Progressive Design Build Agreement