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<br /> - business and occupation tax, and license fees associated with operating the
<br /> Facility, which are now imposed, or may hereafter be imposed. Further, BCG
<br /> hereby authorizes the Tax Division of the State of Washington to release to the
<br /> City a statement of receipts from sales made at those concessions, as filed during
<br /> the term of this contract. Under no circumstances shall BCG be responsible for
<br /> payment of any federal, state, or local income taxes attributable to the City's
<br /> ownership of or operation of the Facilities.
<br /> Furthermore, Gross Revenues deposited in the -Operating Account shall be
<br /> inclusive of all sales, use, and admissions taxes as collected from customers. BCG
<br /> shall, as part of its providing the City a monthly reconciliation of Gross Revenues
<br /> for determination of the Variable Fee as set forth in Paragraph 7B, receive from
<br /> the City with each monthly requisition an amount equal to all sales, use, and
<br /> admission taxes deposited in the Operating Account; BCG shall pay to the taxing
<br /> authorities all sales, use, and admissions taxes attributable to Gross Revenues.
<br /> BCG and City acknowledge that the intent of this Paragraph is to allow the
<br /> collection and payment of these taxes to be treated as `economically neutral' and
<br /> therefore, a complete `pass-through' to both parties.
<br /> i. Leasehold Tax Payments. Leasehold excise tax will be calculated on the
<br /> City's share of all revenue generated by this Facility that is subject to
<br /> leasehold excise tax limited to BCG's restaurant, pro-shop and rental hall
<br /> operation of the Facility. Leasehold excise tax will be billed within fifteen
<br /> (15) days after the end of each quarter and paid to the City by BCG within
<br /> ten (10) days following the billing. All leasehold excise tax, both past and
<br /> current, is due and payable within thirty (30) days following termination
<br /> of this contract.
<br /> P. Accounting. BCG shall provide all budgeting, bookkeeping, and reporting
<br /> services to City for the Facility (it being understood that copies of all books and
<br /> records shall be kept at the Facility and shall remain the property of City and shall
<br /> be available for review by City at reasonable times when requested by City; and
<br /> further, that all software, programs, manuals and the like related to the point-of-
<br /> sale, accounting, and electronic tee sheet systems shall remain the property of
<br /> BCG pursuant to any licensing, use, or purchase agreements entered into by BCG
<br /> as part of its requirement to provide these services):
<br /> i. BCG agrees to maintain accurate daily records of gross sales, and the
<br /> City's duly designated agents and/or employees shall have the right at all
<br /> times during the regular business hours to inspect, examine, copy and take
<br /> notes, extract memoranda from the point of sale records, accounts, books,
<br /> records or other evidence of the gross receipts of BCG, or any other
<br /> person, firm, corporation, association, receiver, or trustee occupying the
<br /> Facility under the terms of this Agreement.
<br /> ii. BCG shall prepare and deliver to City, in accordance with procedures and
<br /> formats reasonably acceptable to City, on an accrual basis, and in
<br /> accordance with generally accepted accounting principles, regular monthly
<br /> and annual operating statements which shall include, without limitation,
<br /> 8r'
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