Laserfiche WebLink
(3) CITY shall be entitled to inspect and examine <br />all TENANT's books of account, records, cash receipts, and <br />other pertinent data. TENANT shall cooperate with CITY in <br />making the inspection. CITY shall also be entitled, not more <br />than once during each calendar year, to an independent audit of <br />TENANT's books of account, records, cash receipts and other <br />pertinent data by a certified public accountant to be designated <br />by CITY. The inspection or audit shall be limited to the <br />determination of Net Income and Operating Expenses, and shall <br />be conducted during usual business hours at TENANT's offices, <br />upon ten (10) days prior written notice to TENANT. <br />(4) If an independent audit correctly shows that <br />TENANT has underpaid any payments made or due to CITY pursuant <br />to this section by more than four percent (4%) of the correct <br />amount, TENANT shall pay all CITY's costs of the independent <br />audit. Otherwise, the cost of the audit shall be borne by the <br />CITY. <br />(5) In the event that an audit or inspection cor- <br />rectly discloses that any payment made by TENANT to CITY pursuant <br />to this Section was deficient, or that any such payment should <br />have been made but was not made, TENANT shall promptly pay to <br />CITY the amount due, together with interest thereon from the <br />date such payment was due at an annual rate equal to the reference <br />rate of the Bank of America. <br />-4- <br />