Laserfiche WebLink
• • <br />~~~~~ 91~4r;~~8 <br />1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 I''~ <br />deems appropriate. Within five (5) days thereafter <br />the appraisers shall make a final joint determinai.;ion <br />in writing of the percentages of Gross Receipts t~rhich <br />should reasonably and fairly be the basis for the <br />Percentage Rental required by this Lease. If the appraisers <br />are unable to reach joint agreement, the final determination <br />shall be made by the third appraiser, independently. <br />LESSOR shall pay the fee of the appraiser it has chosen, <br />and LESSEE shall pay the fee of the appraiser it has <br />chosen. LESSOR and LESSEE shall each pay one-half of <br />the fee of the third appraiser. <br />16. RECORDS AND ACCOUNTS (5.19N) <br />At all times during the Lease Term, LESSEE shall keep or cause <br />to be kept true and complete books, recards, and accounts of <br />all financial transactions in the operation of all business <br />activities, of whatever nature, conducted on or from the Joint <br />Leasehold. The records and accounts of such transactions must <br />be supported by appropriate source documents such as sales slips, <br />cash register. tap es, purchase invoices, or other pertinent docu- <br />me nt s . <br />All retail sales and charges shall be recorded by means of cash <br />registers which display to the customer the amount of the trans- <br />action and automatically issue accurate receipts. The registers <br />shall be equipped with devices which record cumulative sales <br />totals and provide complete transaction records or with counters <br />which are not resettab le and. which record on tape the transaction <br />number and sales details. Cash register readings shall be re- <br />corded at the beginning and end of each business day. <br />In the case of greens fees and other admission charges or rentals, <br />LESSEE shall issue serially numbered tickets for each such fee, <br />admission, or rental paid, and shall keep accurate records of <br />said tickets, both issued and unissued. <br />Within ninety (90) days after the end of each Accounting Year of <br />the Lease Term, or of any extension of the Lease Term, LESSEE <br />shall at its own expense submit to LESSOR a balance sheet and <br />income statement prepared er audited by a Certified Public Ac- <br />countant, reflecting business transacted on or from the Joint <br />Leasehold during the preceding Accounting Year. The Certified <br />Public Accountant must attest that the balance sheet and income <br />statement submitted are an accurate representation of LESSEE'S <br />records as reported to the United States of America for income <br />tax purposes. At the same time LESSEE shall submit to LESSOR <br />a statement certified as to accuracy by a Certified Public <br />Accountant wherein the total gross receipts for the Accounting <br />Year are classified according to tine categories of business <br />established for percentage rental and listed in Clause 13 (RENTAL), <br />and for any other business conducted on or from the Joint Lease- <br />hold. <br />LESSEE, at its own expense, shall prepare all records and accounts <br />in a style and form satisfactory to LESSOR, and such records <br />and accounts shall be kept ai:d shall be made available for review <br />by LESSOR at a convenient location within the limits of the County <br />of Orange. <br />LESSOR shall, by means of its duly authorized agents or repre- <br />sentatives, have the right to examine andaudit said records <br />Feso.~~ ~~ -13- <br />