|
;~ ~lled elsewhere, and any sums received from pay telephones, stamp machines, amusement machines,
<br />and vending machines located on the Premises. Any transaction on an installment basis or involving
<br />,~ extension of credit shall be treated as a sale for the full price at the time of the transaction, regardless of
<br />j the tirne or amount of payment received. Gross Sales shall not include, or if included there shall then be
<br />deducted (but only to the extent they have been included), the following:
<br />(1) The purchase price of all merchandise returned by purchasers and accepted for full
<br />credit or the amount of discounts, refunds, and allowances made on such returned merchandise.
<br />(2) Any sums paid to third ~atties for the use or rental of pay telephones, stamp
<br />machines; music machines, amusement machuies, and other vending machines.
<br />(3) Sums received from casuai sales of trade fixtures, equipment, or other personal
<br />property on the Premises provided that such property is not inventory or stock in trade, and such sales
<br />are permitted under this Lease.
<br />(4) Amounts received in written settlement of ciaims made for loss of or damage to
<br />merchandise on the Premises. .
<br />(5) Sates and use taxes and other similar taxes now or in the futnre.imposed on the sale of
<br />merchandise or services, but only if such taxes aze added to the selling price, separately-stated, and
<br />collected from customers or purchasers. ,
<br />On or before the 10th day of each calendar month during the Lease Term and any extensions
<br />or renewals of the Term, Lessee shail furnish to Lessor a statement of Gross Sales for the preceding
<br />calendar month. Each statement shall be signed and certified by Lessee or its authorized representative
<br />to be correct (and if Lessee is a corporation, the statement shall be signed and certified to be correct by
<br />an officer of Lessee). If Lessee fails to fiunish Lessor with the statement as set forth in this section and
<br />such repoR is not furnished to Lessor within 10 days following Lessor's written notice to Lessee of such
<br />failure, then the Gross Sales for such L,ease Year shall be deemed equal to the highest previously
<br />reported Gross Sales and Lessee shall pay to Lessor, as liquidated damages, the additional sum of $100
<br />per month until such report is furnished. In the event Lessee is delinquent in furnishing Lessor with the
<br />repoR for two consecutive I.case Years, Lessor shall have the right to condnct an andit of the books and
<br />records of Lessee, its permitted sublessees, licensees, or concessionaires with the cost, together with any
<br />chazges resulting from the audit, to be the obligation of Lessee and payable on demand.
<br />Lessee shall keep full and accurate books of account, records, cash receipts, and other
<br />pertinent data showing its Gross Sales. Lessee, its permitted sublessees, licensees, or concessionaires shall
<br />mstall and maintain accurate receipt-printing cash registers and shall record on the cash registers every
<br />sale and other transaction made from the Premises; or, if Lessee, its permitted sublessees, licensees, or
<br />concessionaires-does not have and dces not wish to install receipt-printing cash registers, Lessee, its
<br />permitted sublessees, licensees, or concessionaires shall use serialized sales slips and shall record every
<br />sale and other transaction made fisom the Premises on such sales slips. Such receipts or sales slips shall
<br />be ~kept and maintained as provided in this section. Lessee shall also furnisl~to Lessor copies of sales
<br />and use tax returns at the time each is filed with the State of Oregon.
<br />{, The books of account, records, cash receipts, sales slips, and other pertinent data shall be kept
<br />for a period of two years from the end of each calendar year during the Lease Term. The receipt by
<br />~,i Lessor of any statement, or any payment of the Percentage Rent for any peiiod, shall not bind Lessor as
<br />to the correcmess of the statement or the payment. Lessor shall be entitled, during the Term and for two
<br />- years after the end of the Term, to inspect and examine all books of accounts, records, cash receipts,
<br />t sales slips, and other pertinent data of Lessee, its permitted sublessees, licensees, or concessionaires for
<br />~3` the purpose of~ ascertaining and verifying Gross Sales. Lessee, its permitted sublessees, licensees, or
<br />concessionaires shall cooperate fully with Lessor in making such inspection. Lessor shall also be
<br />? entitled, no more frequently than once every calendaz year during the Term and once after the end of
<br />; the Term, to an independent audit of books of accounts, records, cash receipts, sales slips, and other
<br />pertinent data of Lessee, its permitted sublessees, licensees, or concessionaires to determine Gross Sales,
<br />~,
<br />~~ North Pad Ground Lease Courthouse Square `
<br />, - , Page - 4 '
<br />
|