Common use of Failure to Maintain Adequate Records Clause in Contracts

Failure to Maintain Adequate Records. In addition to any other remedies available to County at law, in equity, or under this Contract, in the event Contractor fails to maintain and keep books, records, and accounts relating to Contractor’s operations on or from the Parking Facilities and source documents relating thereto, or to make the same available to County for examination and audit, or to record sales and/or to maintain registers to record sales, or to provide financial statements and other information to County regarding gross receipts as required by this Contract, County, at County’s option, may: i. Perform such examinations, audits, and/or investigations itself or through Contractors, agents, or employees as County and/or its Auditor-Controller may deem appropriate to confirm the amount of gross receipts payable to County by Contractor under this Contract and any and all costs and/or expenses incurred by County in connection therewith shall be promptly reimbursed to County by Contractor upon demand; ii. Provide accounting services and/or a system for recording gross receipts, including without limitation, cash registers, for use by Contractor in conducting business transactions upon or from the Parking Facilities, and, at County’s option, maintain personnel on the Parking Facilities to observe and/or record such transactions during Contractor’s business hours, or from time to time, all at Contractor’s sole cost and expense and, in such event, Contractor shall promptly reimburse County for any and all costs incurred by County in connection therewith; and/or; iii. Require that Contractor pay to County, upon demand, amounts equal to and based on County’s reasonable estimate of the actual gross receipts from parking operations conducted on or from the Parking Facilities. Any such estimate made by County in good faith shall be conclusive and binding upon Contractor. Costs payable by Contractor pursuant to this article shall include reimbursement to County, for County- provided services at such rates as County may from time to time in good faith establish for such services. In the case of services provided by County’s employees, such rates shall be sufficient to reimburse County for employees’ salaries, including employee taxes and benefits and County’s overhead or, at Auditor-Controller’s option, may be the rate for such services that would be charged by a qualified third party or parties, approved by the Auditor-Controller, if engaged by County to perform such services.