CC PACKET 06271995 - Laserfiche WebLink

Home Browse Search

• operation, repair and maintenance of the Food Service under governmental laws, rules, regulations, ordinances, or like provisions. 5.12 Operating Budget. Operator shall prepare and submit to Owner a proposed operating and capital budget for the operation, repair and maintenance of the Food Service and the Premises for the first Year within 30 days hereof. For each subsequent Year thereafter proposed budgets will be due at other times as reasonably requested by Owner. (Such budgets shall be prepared on both an accrual basis and a cash basis showing a month by month projection of income and expense and capital expenditures, as well as any projected increases in expenses and capital expenditures). After approval of each budget by Owner, which approval shall not be unreasonably withheld (such budget is then the "Approved Budget"), Operator agrees to,use diligence and to employ..its best efforts to ensure that the actual costs of operating the Food Service do not exceed the Approved Budget. Operator shall not incur expenses in any month not included in the Approved Budget without Owner's prior written consent. 5.13 Statement of Gross Sales and Operating Costs. (a) Owner shall, not later than 30 days after the last day of the first Year furnish Operator with a statement which sets out (1) the Gross Sales received from the operation of the Food Service during the first Year, and (2) the Operating Costs incurred by Owner during such period. Copies of payment vouchers, bills, invoices and other documentation to support the amounts claimed as Operating Costs shall be available to Operator for review. (b) For each month after the first Year, Owner shall, not later than 15 days after the last day of each month furnish Operator with a statement which sets out the Gross Sales received from the operation of the Food Service during that month, and shall pay to Operator the Percentage Fee for that month. 6. OBLIGATIONS OF OWNER. During the Term, Owner shall have the following duties and responsibilities: 6.01 Payment of Operating Costs. Owner shall pay the Operating Costs incurred for the Food Service pursuant to the Approved Budget, or as otherwise approved by Owner, including without limitation the following: (a) Costs of food, beverages and other supplies for the Food Service; (b) Payroll expenses and applicable payroll taxes for employees performing services for the Food Service, including provision for vacation pay, pension, and health and welfare programs; -7-