25D - RFP AND AGMT - PARKING STRUCTURE OPERATOR

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and supporting source documents at any and all reasonable times for the purpose of determining the accuracy thereof, and of the monthly statements of sales made and monies received. 3. The City, upon request of Operator and, at the City's sole discretion, may authorize the above-referenced books and records to be kept in a single location outside the limits of Orange County provided Operator shall agree to pay all expenses including, but not limited to, transportation, food, and lodging necessary for the City to send a representative to audit said books and records. The Contract Administrator shall not exercise said right more than twice each accounting year. 4. The full cost of said audit. as determined by City, shall be paid by Operator if either or both of the following conditions exist: (a) The audit reveals an underpayment of more than five percent (5%) between the balance of revenue due as reported and paid by Operator in accordance with this Agreement, and the balance of revenue due as determined by said audit. (b) Operator has failed to maintain true and complete books, records, accounts, and/or supportive source documents in accordance with this agreement. The adequacy of records shall be determined at the sole discretion of the City. Otherwise, City shall bear the cost of said audit, excluding the aforementioned expenses related to audit of documents kept outside the limits of Orange County. Upon the request of City, Operator shall promptly provide, at Operator's expense, necessary data to enable City to fully comply with any and every requirement of the State of California or the United States of America for information or reports relating to this Agreement, and to Operator's management of the Premises. Such data shall include, if required, a detailed breakdown of Operator's receipts and expenses. G. Failure to Maintain Adequate Records. In addition to any other remedies available to the City at law, in equity, or under this Agreement, in the event the Operator fails to maintain and keep books, records, and accounts relating to the Operator's operations on or from the Parking Facilities and source documents relating thereto, or to make the same available to the City for examination and audit, or to record sales and/or to maintain registers to record sales, or to provide financial statements and other information to the City regarding gross receipts as required by this Agreement, the City, at the City's option, may: 25D-38