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PART II COMMERCIAL TERMS Firm Fixed Price 1.0 CONTRACT RELEASE COST AND FEE 1.1 Full compensation to Contractor for full and complete performance by Contractor of all the Work, compliance with all terms and conditions of this Contract, and for Contractor’s payment of all obligations incurred in, or applicable to, performance of the Work shall be the firm fixed price for each of the work efforts below: Firm Fixed Price insert proposed price in words insert proposed price in numbers 1.2 Performance Bond (100% of Bid Price) $xxx Payment Bond (100% of Bid Price) $xxx Bond Total $xxx Grand Total including bonding $xxx Adjustment Rate The cost of the payment and performance bonds set forth in 1.1 above shall be adjusted at the rates set forth below for WRPS authorized increases to, and decreases from, the Firm Fixed Price. 2.0 a. Firm Performance Bond Rate: $xx per one thousand dollars. b. Firm Payment Bond Rate: $xx per one thousand dollars. PRICING BASIS The Contract Release Cost set forth herein is on a Lump Sum, Firm Fixed Price basis for the duration of the Work and includes all Contractor’s costs, expenses, and overhead for complete performance of the Work. Page 1 of 3 3.0 PRICING FOR CHANGES Adjustments to the Contract Price for any change in the Scope of Work shall be in accordance with the requirements of General Provisions, Article 3.1 Changes and the following rates on profit. Company may request, and Contractor shall provide, proposal for Scope of Work changes (additions and deletions) which are priced, at Company’s option, by one or a combination of the following methods: a. Rates used in this Contract in Rate Schedules A and B b. Negotiated Firm Fixed Priced based upon a mutually agreed Scope of Work. c. Negotiated fixed Rates not established in the Contract d. Negotiated Unit Prices not established in the Contract. Applicable to adjustments in Contract Price: Variable overhead and profit mark-up allowances shall be determined by application of the following: For parties performing the Work, allowable percentages on changes will not exceed the following: 15 percent overhead and 10 percent profit on total direct costs up to $25,000.00; 10 percent overhead and 10 percent profit on total costs over $25,000.00 up to $100,000.00; 7 ½ percent overhead and 5 percent profit on total costs over $100,000.00. The Primary Contractor’s (not performing the Work) profit on work performed by lower tier subcontractors will be based on the total of all net increase for all subcontractors performing work of the change in the tier immediately below and subordinate to the Primary Contractor fee on changes will not exceed the following: 10 percent profit on total increases up to $25,000.00; 7 ½ percent profit on total increases over $25,000.00; 5 percent profit on total costs over $100,000.00. No more than three mark-ups, one overhead and two profit, none of which exceed the percentages shown above, will be allowed regardless of the number of tiers of subcontractors or the subcontract instrument (i.e., Purchase order, contract, etc.). The contractor’ or subcontractor’s profit shall be only applied to the net increase in the change price after deductions have been taken A reasonable credit and overhead and profit shall be included as part of the downward adjustments for a deductive change. Overhead and contractor’s or subcontractor’s profit percentage shall be considered to include the following; insurance cost, small tools and consumables, incidental job burdens, and general home office expenses commonly known as G&A and no separate allowances will be made thereof. Page 2 of 3 4.0 TAXES 4.1 Contractor shall pay when due, and the compensation set forth in the terms and conditions found in section III and IV of this Contract and shall be inclusive of, all taxes, duties, fees and other assessments of whatever nature imposed by governmental authorities and applicable to the performance of the Work and this Contract. 4.2 Company is required to obtain correct taxpayer identification numbers from all non-corporate payees who receive payment for services, rents, royalties or interest that would be subject to IRS Form 1099 reporting. Twenty percent back-up tax withholding will be imposed on all Form 1099 reportable payments made to Contractor if Contractor fails to provide a correct taxpayer identification number. License No. , Type: Construction General Contractor, State: Washington Taxpayer I.D. No. 91- Page 3 of 3