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January through March, April through June, July through <br />September, and October through December. <br />C. Amortization of Operating Expenses <br />For purposes of determining Operating Expenses, any <br />expenditure for a single purpose which exceeds $5,000.00 <br />may be amortized over a reasonable period subject to the <br />prior approval of CITY's City'Manager, which shall not be <br />unreasonably withheld. <br />D. Time of Payment <br />Within sixty (60) days after the end of each Calendar <br />Quarter occurring during the term of this Agreement, TENANT <br />shall pay to CITY the rent due to CITY for such Calendar <br />Quarter together with a detailed statement of Net Income and <br />Operating Expenses for such Calendar Quarter. <br />E. Records and Inspections <br />(1) TENANT shall keep, at its primary office, <br />full and accurate books of account, records, cash receipts, <br />and other pertinent data showing its Net Income and operating <br />Expenses pertaining to the leased Property and the Paseo. <br />(2) Such books of account, records, cash receipts <br />and other pertinent data shall be maintained by TENANT for <br />a period of time as necessary to allow CITY to inspect them <br />to verify statements submitted by TENANT pursuant to <br />paragraph D of this Section. <br />-3- <br />