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collected as of the date of the report. Report shall be provided no later than thirty (30) days prior to the end of the calendar year. Reporting requirement shall be effective January 1, 2024. OPERATOR shall maintain or cause to be maintained adequate accounting systems and controls to insure that all gross revenue is recorded. OPERATOR shall keep or cause to be kept true and accurate books and records for a period of seven years after end of the Term as defined in Section 8 and all business transactions related to the Subject Property, and City shall have the right, through its representatives and at all reasonable times, upon at least 7 days' prior written notice to OPERATOR, to inspect such books and records. If such books and records are not kept and maintained within a radius of 50 miles from the main office of the City, upon request of City, OPERATOR shall make such books and records available to City for inspection and audit at a location within that radius or OPERATOR shall pay to City the reasonable and actual costs incurred by City in inspecting and auditing such books and records, including but riot lirnited to travel, lodging and subsistence costs. 6. Past due date -- past duq_g?cmlltu; Lage interest. A. Any OPERATOR entity or individual who fail;: to pay the billboard operating fees and Sales Tax Shortage Payments required by this AGREEMENT when due shall be subject to past due penalties and interest as set forth herein. i. OPERATOR shall be considered past due if the required yearly operating agreement fee is riot paid by the last day of the month following the month for which it is due. ii. For failure to fully pay any yearly fee when due, the following past due penalty and late interest charges shall be added to the unpaid balance amount owing: 1) A past due penalty of Ten Percent (10%) per month; 2) A late interest charge of One and One Half Percent (1.5%) per month added to the unpaid balance amount: owing, inclusive of any prior past due penalty or late interest charges accrued. B. Outside of the original Sales Tax Shortage Payment invoice, CITY is not required to send a past due notice or, otherbill or invoice to OPERATOR, or any other person subject to the provisions of this AGREEMENT, and fMure to send such notice, bill or invoice shall not affect the validity of any operating fee, late penalty or late interest charge due under the provisions of this AGREEMENT. 7. Requirements for AIII Digii a[ Billboard. A. Civic Promotions. OPERATOR agrees to provide free advertising time on the Digital Billboard to City for the promotion of community events, tourism activity and events, and other civic interests of the City. i. Amount of Advertising Time for Civic Promotions. Following the Commencement Date, OPERATOR shall permit City to place a maximum of ten (10) different civic promotion and/or public service announcernent advertisements, as supplied by CITY, per year with each advertisement running for as long and as many times as requested by the City within the parameters as uncontracted space available allows for the entire Term of the