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Reso 2015-2370
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Reso 2015-2370
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Last modified
3/26/2015 9:45:28 AM
Creation date
3/4/2015 4:20:11 PM
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CityClerk-Resolutions
Resolution Type
Resolution
Resolution Number
2015-2370
Date (mm/dd/yyyy)
01/15/2015
Description
Gateway Park Restaurant Lease Agmt w/Fly Me to the Moon, LLC
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respectively, and the right to examine, make extracts from and copy, at the Leased Premises or <br /> (at the option of Lessor) at the corporate headquarters office of Lessee in the United States, <br /> Lessee's and all concessionaires' books, source documents, accounts, records and sales tax <br /> reports filed with applicable government agencies in order to verify the amount of Gross Sales <br /> in and from the Leased Premises, Lessee shall make all such documents and records available at <br /> the Leased Premises (or at Lessee's corporate headquarters, if elected by Lessor) upon five (5) <br /> days' prior written notice from Lessor, as the case may be. <br /> 5.1 Audit. At its option, Lessor may at any time, upon ten (10) days' prior written <br /> notice to Lessee,arrange for an auditor selected by Lessor to conduct a complete audit(including <br /> a physical inventory) of the entire records and operations of Lessee, including those in <br /> connection with any concessionaire concerning business transacted upon or includable in Gross <br /> Sales from the Leased Premises during the period covered by any statement issued by Lessee. <br /> Audit shall be conducted as to cause the least amount of disruption to the operation of. Lessee's <br /> business. Lessee shall make available to Lessor auditor at the Leased Premises (or at Lessee's j } <br /> corporate headquarters, if elected by Lessor within ten (10) days following Lessor's notice <br /> requiring such audit, all of the books, source documents, accounts and records referred to in this <br /> Lease and any other materials which such auditor deems necessary or desirable for the purpose <br /> of making such audit. Lessee shall promptly pay to Lessor the amount of any deficiency in <br /> percentage rent payments respectively, disclosed by any such audit. If such audit shall disclose <br /> that Lessee's statement of Gross Sales is at variance to the extent of three percent (3%) or more, <br /> Lessor,as the case may be, may bill to Lessee the amount of any deficiency and the cost of such <br /> audit, which shall be paid by Lessee within ten(10) days after Lessee's receipt of the applicable <br /> invoice; in the event Lessee fails to pay such discrepancy and costs, Lessor may terminate this <br /> Lease as set forth below and/or shall have such other rights and remedies as may be provided <br /> herein or at law arising by virtue of Lessee's failure to pay Percentage Rent. Prior to the <br /> finalization of the auditor's report and submission of an invoice to Lessee, Lessee shall have no <br /> less than thirty (30) days to review and analyze the auditor's draft report and present argument if <br /> it disagrees with the auditor's draft findings. In addition to the foregoing, and in addition to all <br /> other remedies available to Lessor, in the event Lessor or Lessor's auditor, shall reasonably <br /> schedule a date for an audit of Lessee's records in accordance with this Section, and Lessee shall <br /> fail to be available or shall otherwise fail to comply with the requirements for such audit, Lessee <br /> shall pay all costs and expenses associated with the scheduled audit. <br /> 5.2 Audit Penalties. In addition to all other remedies available to Lessor, in the event E <br /> that any such audit shall disclose that Lessee's records and other documents as referred to in this <br /> Section and such other materials provided by Lessee to Lessor's auditor are inadequate, <br /> ate,Lessor,in the <br /> opinion of Lessor or Lessor 's auditor, to accurately disclose Lessee's <br /> as the case may be, shall be entitled to collect as additional rent from Lessee an amount equal to <br /> percentage rent due for such understatement together with interest at eighteen percent (18%)per <br /> annum and the cost of such audit and attorney fees if an attorney is required to bring suit, action, <br /> or other proceeding to enforce the terms of this Sections Lessor's exercise of the foregoing <br /> remedy shall in no way limit or otherwise affect Lessor's ability to exercise other remedies <br /> available to it, nor shall Lessee's obligations pursuant to the terms, covenants and conditions of <br /> this Lease (including, without limitation, Lessee's obligation with respect to reporting Gross <br /> Sales and payment of Percentage Rent) be in any manner reduced or diminished by the exerc se <br /> of such remedy. In the event that Lessee shall, following the exercise of such remedy,provide <br /> 7 , <br />
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