Golf Course Advisory Board Agenda and Packet 2010 06 21

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7.01 Quarterlv Operatinl!: Report. WGP shall prepare and submit to City, on or before the fifteenth (15th) day of January, April, July and October of each year and the fifteenth (15th) day of the calendar month immediately following any month in which this Agreement is terminated, a quarterly operating report which shall provide a detailed summary of all relevant financial information and transactions occurring during the preceding quarter. WGP shall also provide an analysis of significant variances from previous quarterly reports for the year or operating plan previously provided to the City. The first quarterly rep0l1 under this Agreement shall be due April 15, 2010. 7.02 Annual Operatinl!: Report. WGP shall prepare and submit to City no later than thirty (30) days after the end of each Fiscal Year (or any portion of any such Fiscal Year, in the case of a partial Fiscal Year at the beginning or end of an operating period) an annual operating report for the immediately preceding Fiscal Year, which shall provide all relevant financial information and transactions occurring during the preceding Fiscal Year. 7.03 City's Ril!:ht to Audit. City may perform any audit or investigation relating to WGP's activities either at the Golf Course or at any office of WGP, if such audit or investigation relates to WGP's activities for City. If any discrepancies are found, WGP shall correct such discrepancies promptly upon discovery. WGP shall inform City in writing of the action taken to correct any discrepancies. WGP shall make available at WGP's principal office at the Golf Course, and shall provide copies to the City of any and all supporting documentation relevant to the reports in this Article, or to any audit or investigation relating to WGP's activities for the City. 7.04 Copies Provided after Termination. Following termination of this Agreement for any reason and for six (6) months thereafter, WGP agrees to provide, upon request, to City a copy of the Quarterly Operating Report or Annual Operating Report. City also has the right for up to six (6) months following termination of this Agreement for any reason, to perform an audit or investigation of WGP's activities in accordance with Section 7.03, as long as such audit or investigation relates to WGP's activities conducted during the Term of this Agreement. The rights and obligations of Sections 7.03 and 7.04 shall survive termination of this Agreement. 7.05 Customer Service Survey. The City shall have the right to conduct periodic customer service surveys to ensure that WGP is meeting or exceeding customer expectations. The survey shall be valid within +/- four (4) percentage points, and if the City determines, in its sole discretion, that the results ofthe survey are unsatisfactory, the City may terminate this Agreement without default upon one hundred and eighty (180) days notice to WGP. ARTICLE VIII Representations and Warranties 8.01 City's Representations and Warranties. As a material inducement to WGP to enter into this Agreement, City represents and warrants the following: (a) Power of Authority. That the City of Louisville is a municipality duly organized, validly existing and in good standing under the laws of the State of Colorado; that it is duly qualified to do business and is in good standing in the State of Colorado; that it has all necessary power and authority to enter into this Agreement and to carry out the transactions contemplated herein; and that the execution and delivery hereof and the performance by City of City's obligations hereunder will not violate or constitute a default under the terms and provisions of any agreement, law or cOUl1 order to which City is a party or by which City is bound. 10 Initials: 1J;A,