Agmt90 DDA Sequoia Station - Laserfiche WebLink

Browse Search

JAH:djm 03/06/90R (REDEV) JAH:djm 03/19/90R JAH:djm 04/04/90R B. Profit and Loss Statement. Annually within ten days after the due date for filing its Federal income tax return, the Developer shall furnish the Agency its Profit and Loss Statement for the preceding year. C. Books and Records. The Developer agrees to keep and maintain (and shall require all assignees, lessees and concessionaires to keep and maintain), on the premises of the Project or at the Developer's principal corporate office, for a period of not less than three (3) years following the end of each calendar year, full, true and adequate books of account and records which shall show all details from which the computations required pursuant to Sections 804, 804.5 and 805 were or could be computed and all back-up material needed to support the computation thereof. D. Audits. The Agency may, upon giving ten (10) business day's notice to the Developer have an audit made during reasonable business hours by an accounting firm of good national reputation or by an accounting firm approved by the Developer. The Developer shall cooperate and allow the Agency's auditors full and reasonable access to the books and records kept pursuant to this section for such audit. Article 9. GENERAL PROVISIONS §901 Good Faith Deposit The Developer has, prior to or simultaneously with the execution of this Agreement by the Agency, delivered to the Agency a good faith deposit (the "Good Faith Deposit") in the amount of ONE HUNDRED THOUSAND DOLLARS ($100,000) as security for the performance of the obligations of the Developer to be performed prior to the return of the Good Faith Deposit to the Developer or its retention by the Agency in accordance with the provisions of this Agreement. The receipt of the Good Faith Deposit is hereby acknowledged by the Agency. The Good Faith Deposit, at the option of the Developer, may be in the form of a cashier's check or certified check. The Good Faith Deposit may be deposited in an account of the Agency in a bank or trust company selected by it. The Agency shall not be obligated to earn or pay interest on the Good Faith Deposit. In the event of the termination of this Agreement as provided in Section 1007 or Section 1008, the Good Faith Deposit shall be returned to the Developer or retained by the Agency as provided in Section 1009. Notwithstanding any other provisions of this Agreement, at any time after the Developer shall have delivered to the Agency the Letter of Credit (or Cash Deposit) in accordance with Section 33