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c. Gross Sales (premium basis symbol s): The gross amount charged by you, your concessionaires or by others trading under your name for: (1) All goods or products, sold or distributed; (2) Operations performed during the policy period; and (3) Rentals; or (4) Dues or fees. The rates apply per $1,000 of Gross Sales. d. "Total Cost" (premium basis symbol c) means the total cost of all work let or sublet in connection with each specific project including: (1) The cost of all labor, materials and equipment furnished, used or delivered for use in the execution of the work including the cost of finished equipment installed whether or not furnished by the contractor, or subcontractor, or by you; and (2) All fees, bonuses or commissions made, paid or due. The rates apply per $1,000 of Total Cost, a. Area (premium basis symbol a): The total number of square feet of floor space at the insured premises. The rates apply per 1,000 square feet of Area. f. Each (premium basis symbol t): This basis of premium involves units of exposure, and the quantity comprising each unit of exposure is indicated in the Declarations, such as "per person". The rates apply per each unit of exposure. g. Units (premium basis symbol u): A single room or group of rooms intended for occupancy as separate living quarters by a family, by a group of unrelated persons living together, or by a person living alone. The rates apply per Unit. h. Total Operating Expenditures (premium basis symbol o): Total expenditures (including grants, entitlements and shared revenue) without regard to source of revenue during the policy period including accounts payable. The rates apply per $1,000 of Total Operating Expenditures. 4. The first Named Insured must keep records of the information we need for premium computation and send us copies at such times as we may request. Failure to supply such records upon request will be deemed a breach of condition and subject this policy, and may subject any in force policy of yours, to cancellation for breach of conditions. 5. We reserve the right to examine and audit your books and records as they relate to this policy at any time during the policy period and up to three years afterward, 6. Premium shown in this Coverage Part as advance premium is a minimum and deposit premium. Advance premium includes any payments identified as premium paid prior to policy expiration. At the close of each audit period, we will compute the earned premium for that period. Audit premium is due and payable upon notice to the first Named Insured. Failure to pay the audit premium due will be deemed a breach of contract and subject this policy, and may subject any in force policy of yours, to cancellation for non-payment of premium. a. If the actual earned premium generated as a result of an audit for the policy period is less than the advance premium, such advance premium is the rninimLnn premium for the policy period indicated and is not subject to adjustment. b. If the actual earned premium generated as a result of an audit for the policy period is greater than the advance premium, then a final premium adjustment endorsement will be issued. The additional premium amount shown on the final premium adjustment endorsement is due and payable to us upon notice to the first Named Insured. 7. Estimated Annual Audit Procedure: If, after three documented attempts, we are unable to examine your books and records to obtain the information necessary to complete the audit, we may Implement our estimated gudt procedure as outlined below: L.601 (12109) Includes copyrighted material of Insurance Services Office, Inc., with its permission,: Page 2 or 3