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9. ANNUAL AUDIT A. Within ninety (90) days of the end of the fiscal year, Concessionaire will provide to the City a statement of its total gross revenues for the past fiscal year or portion thereof as applicable. The financial report shall be prepared by an accounting firm approved by the City's Executive Director of the Finance and Management Agency. Said report will comply with Government Accountability Standards. B. If such audit reveals that there was an underpayment of monthly gross receipts due to City pursuant to this Agreement, Concessionaire will pay to City the amount of the underpayment within sixty (60) days of the date of the final accounting report. If such audit reveals overpayment of monthly gross receipts paid to the City pursuant to this Agreement, Concessionaire will notify City in writing within sixty (60) days of the date of the final accounting report and any overpayment will be credited to Concessionaire for any obligation under this Agreement which is due or coming due. Ifthe Agreement has expired or been terminated, then City will pay the amount of overpayment to Concessionaire within sixty (60) days of the date City is notified of the overpayment in writing. C. Concessionaire acknowledges that all financial reports prepared pursuant to this Agreement and submitted to the City will become a public record pursuant to California Government Code section 6250 et seq., subject to any applicable exemption. D. Concessionaire will maintain all financial records related to the services provided pursuant to this Agreement including but not limited to, gross receipts, sales tax figures, and business income tax information for the life of this Agreement plus five (5) years. Upon reasonable request, City will have the right to review said records. This right extends beyond termination or expiration of this Agreement. 10. INDEPENDENT CONTRACTOR Concessionaire and any employees thereof shall, during the entire term of this Agreement, be construed to be an independent contractor and not an employee of the City. This Agreement is not intended nor shall it be construed to create an employer -employee relationship, a joint venture relationship, or to allow the City to exercise discretion or control over the professional manner in which Concessionaire performs the services which are the subject matter of this Agreement; however, the services to be provided by Concessionaire shall be provided in a manner consistent with all applicable standards and regulations governing such services. Concessionaire shall pay all salaries and wages, employer's social security taxes, unemployment insurance and similar taxes relating to employees and shall be responsible for all applicable withholding taxes. 11. INSURANCE Prior to undertaking performance of work under this Agreement, Concessionaire shall maintain and shall require its subcontractors, if any, to obtain and maintain insurance as described