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<br />City of Sunny Isles Beach |Request for Proposal No. 22-09-01 20 <br /> <br />(iii) Tenant shall, in connection with all sales, utilize point of sale equipment which properly <br />records all such sales. Tenant shall keep in the demised premises or at some other location <br />a permanent and accurate set of books and records of all sales and revenues derived from <br />business conducted in the demised premises, including: catering records; records of voids <br />and refunds; tax reports; liquor tax returns; and such other records as may be needed to <br />permit an effective audit of sales. All such records shall be retained and preserved for at <br />least sixty (60) months (5 years) after the end of the calendar year to which they relate, <br />and shall be subject to inspection and audit by Landlord and its agents at all reasonable <br />times. On or before the 30th day after each lease year during the term hereof, including <br />renewals, tenant shall prepare and deliver to Landlord at the place then fixed for payment <br />of rent, a statement of Net Sales during the preceding lease year in such form as Landlord <br />may require, certified to be correct by Tenant or Tenant's authorized representative. <br /> <br />(iv) On or before the 30th day after the expiration of each lease year and the 30th day after <br />the expiration or termination of this Lease, Tenant shall deliver to Landlord at the place <br />last fixed for the payment of rent a statement, certified to be accurate and correct by <br />Tenant or Tenant's authorized representative, showing Net Sales during the lease year <br />preceding the date on which such statement is due. In the event any provision of this <br />Lease or the enforcement thereof by Landlord, requires accounting for Net Sales and the <br />payment of Percentage Rent for any period less than twelve (12) months, such shorter <br />period shall be treated as one ( 1) year for the purposes of an annual statement and such <br />statement shall be delivered to Landlord within thirty (30) days after termination of such <br />shorter period. With each such annual statement or statements for a shorter period, <br />Tenant shall pay to Landlord any and all sums due hereunder and then remaining unpaid <br />for the entire period covered by such statement. <br /> <br />(v) In the event Landlord desires to audit the reports of Net Sales submitted by Tenant (not <br />to exceed one (1) time per year) Landlord shall have the right to cause its auditors to audit <br />all books and records, wherever located, pertaining to sales made in or upon the demised <br />premises. Tenant shall promptly pay to Landlord any deficiency or Landlord shall promptly <br />refund to Tenant any overpayment, as the case may be, which is established by such <br />audit. <br /> <br />(vi) Impositions. In addition to the Rent, Tenant shall pay to the parties respectively entitled <br />thereto all impositions, insurance premiums and Taxes (as defined in Section 2.19 herein), <br />(collectively, the "Impositions"). If any such Impositions are allocated to Tenant, rather <br />than charged directly against Tenant or the demised premises, Landlord shall provide <br />Tenant with such support for such charges as Tenant may reasonably request. Tenant <br />shall furnish to Landlord, promptly upon request of Landlord official receipts or other <br />satisfactory proof evidencing payment of such Impositions. <br /> <br />2.16 LATE CHARGE: <br /> <br />If any installment of the Base Minimum Rent, Percentage Rent, any Imposition or any other payment <br />provided for under this Lease which is payable by Tenant is not received by Landlord within five (5) days of <br />the date when due, the Tenant shall immediately pay Landlord the amount of Five Hundred ($500) Dollars