25A - AGMT - MUNICIPAL PARKING FACILITIES OPERATOR

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required by this Agreement, the City, at the City's option, may: Perform such examinations, audits, and/or investigations itself or through contractors, agents, or employees as the City may deem appropriate to confirm the amount of gross receipts payable to the City by the Operator under this Agreement and any and all costs and/or expenses incurred by the City in connection therewith shall be promptly reimbursed to the City by the Operator upon demand. 2. Provide accounting services and/or a system for recording gross receipts, including without limitation, cash registers, for use by the Operator in conducting business transactions upon or from the Parking Facilities, and, at the City's option, maintain personnel on the Parking Facilities to observe and/or record such transactions during the Operator's business hours, or from time to time, all at the Operator's sole cost and expense and, in such event, the Operator shall promptly reimburse the City for any and all costs incurred by the City in connection therewith; and/or 3. Require that Operator pay to the City, upon demand amounts equal to and based on the City's reasonable estimate of the actual gross receipts from parking operations conducted on or from the Parking Facilities. Any such estimate made by the City in good faith shall be conclusive and binding upon the Operator. Costs payable by Operator pursuant to this Section shall include reimbursement to City, for City provided services at such rates as the City may from time to time in good faith establish for such services. In the case of services provided by the City's employees, such rates shall be sufficient to reimburse the City for employees' salaries, including employee taxes and benefits and the City's overhead or, may be the rate for such services that would be charged by a qualified third party or parties, if engaged by the City to perform such services. H. Retention Period/Ownership of materials. All reports, documents, or other materials developed or discovered by Operator or any other person engaged directly or indirectly by Operator to perform Operator's services for the City are to be maintained and retained for a period of three (3) years. Said documents shall be the property of the City without restriction or limitation upon their use. 9. INSURANCE The Operator shall, at its own cost, maintain insurance acceptable to City in full force and effect throughout the term of this Agreement. The policy of policies of insurance maintained by Operator shall provide the following limits and coverage: 1. Commercial General Liability (CGL) or Garage Liability: Insurance Services Office (ISO) Form CG 00 01 12 07 covering CGL on an "occurrence" basis, including products- 25A-1