Reso 2024-3761 - Laserfiche WebLink

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EXECUTION COPY by check, credit charge account, exchange or otherwise, and shall include, but not be limited to, the amount received from the sale of goods, wares, merchandise and services performed on or at the Leased Premises, together with the amount of all orders taken or received at the Leased Premises or sales completed by delivery at the Leased Premises, whether such orders be filled from the Leased Premises or elsewhere, and whether such sales be made by means of mechanical or other vending devices in the Leased Premises. Each charge or sale upon installment or credit shall be treated as a sale for the full price in the month during which such charge or sale shall be made. Gross Receipts shall not include the amount of any refunds actually paid by LESSEE with respect to sales of merchandise for which cash has been refunded, or allowances made on merchandise claimed to be defective or unsatisfactory, provided such sales shall have previously been included in Gross Receipts. Additionally, Gross Receipts shall not include the amount of any sales, use or Gross Receipts tax imposed by any federal, state, municipal or governmental authority directly on sales and collected from customers, provided that the amount thereof is added to the selling price and paid by the LESSEE to such governmental authority. No franchise or capital stock tax and no income or similar tax base upon income or profits shall be deducted from Gross Receipts whatsoever. The amount of LESSEE's uncollected checks shall be deducted from Gross Receipts. LESSEE shall report its Gross Receipts to LESSOR by the twentieth (20th) day after the end of each quarter, and a statement thereof submitted to LESSOR showing the Gross Receipts for the Leased Premises during the preceding quarter and for the Lease Year to date. The annual statements referred to in this Section shall be in such form and style and contain such details and breakdowns as LESSOR may reasonably require. If LESSEE fails to furnish to LESSOR any report required of LESSEE hereunder, LESSOR may, in addition to its other remedies herein provided, assess as additional rent a fee of Twenty Five Dollars ($25.00) per day until the required report is furnished and/or undertake an examination or audit of LESSEE's books and records in order to determine gross Receipts, and LESSEE shall pay LESSOR upon demand all costs and expenses incurred by LESSOR in connection therewith. If LESSEE operates businesses at locations other than the Leased Premises, then LESSEE shall utilize such system or devices for recording sales on a daily basis as maintained by LESSEE in its other existing locations. LESSEE shall, at all times during the Term hereof, keep at the Leased Premises or at the general office of LESSEE, full, complete and accurate books of account and records in accordance with generally accepted accounting principles. LESSEE shall retain such books and records, as well as all contracts, vouchers, checks, cash register receipts, inventory records, and other documents, papers and computer related materials in any way relating to the operation of its business, from the Leased Premises for at least thirty-six (36) months from the end of the Lease Year to which they are applicable, or, if an audit is required or a controversy should arise between the parties hereto regarding the Percentage Rent payable hereunder, until such audit or controversy is terminated. LESSOR or its duly authorized representatives may from time to time during business hours inspect and/or audit any or all of the records and information required to be maintained by LESSEE hereunder. LESSEE shall, upon written request by LESSOR, make all such data available for such examination where LESSEE keeps the same. If LESSOR's audit shows the Gross Receipts reported by LESSEE for any such Lease Year to be understated, then LESSEE shall immediately pay any such deficiency and, if understated by two percent (2%) or more, then LESSEE shall pay to LESSOR the cost of such audit. Additionally, should LESSEE understate Gross Receipts by three percent (3%) or more in two (2) out of any three (3) Lease Years or should any Annual Gross Receipts report be understated by five percent (5%) or more, LESSOR shall have the right to terminate this Lease upon thirty (3 0) days' written notice to LESSEE only if those discrepancies occurred as the result of fraud and not a scrivener's error, as determined by LESSOR in LESSOR's sole discretion. In the event of a dispute as to any calculations of Gross Receipts LEASE AGREEMENT - CREMA DOWNTOWN CORP. Page 6 of 36