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<br />14 <br /> <br />CITY OF SUNNY ISLES BEACH <br />18070 Collins Ave. | Sunny Isles Beach, FL 33160 <br />305.792.1707 | sibfl.net | Purchasing@sibfl.net <br />day of the following month (due date) vendor's completed Statement of Sales along with the monthly <br />payment as per agreement. Should the 10th fall on a weekend or holiday, Proposer shall submit the <br />payment and Statement of Sales on the next workday. Any payments received after the due date will <br />be considered late and will be subject to late fees as per agreement. Therefore, in addition to monies <br />owing, Concessionaire agrees to pay the City a late fee set forth below to compensate City for all <br />expenses and/or damages and loss resulting from said late or delinquent payments. <br /> <br />The Contractor shall submit monthly reports of all gross receipts collected, derived by Contractor from <br />all business conducted upon or from the premises, including but not limited to receipts from sale of <br />beverages, snacks or from any source whatsoever excluding sales tax. <br /> <br />Respondents shall submit pricing and fee schedules reflecting payments to the City, and in accordance <br />with the Scope of Services. <br /> <br />2.12 LATE FEE <br /> <br />A daily late fee of $100 will be assessed for payments not received by the 10th of the month. Multiple <br />late payments may result in default of contract. <br /> <br />2.13 ANNUAL REPORTS <br />The LICENSEE shall submit an annual CPA certified statement of gross receipts, a balance sheet and a <br />profit and loss statement specifically related to this concession to the City, in a form consistent with <br />generally accepted accounting principles. This statement shall be accompanied by a report from an <br />independent CPA firm. The annual CPA certified statements shall be submitted to the Contract <br />Administrator. The form of all records and reports shall be subject to the approval of the City Finance <br />Director or designee. The Contractor must comply with recommendations for changes, additions, or <br />deletions by the City. The City must be permitted, during normal business hours, to audit and examine <br />the books of account, reports and records relating to this Contract. <br /> <br />2.14 DEFAULT <br /> <br />In the event of any of the following the City may terminate this contract for default: <br /> <br />• If the Contractor fails to perform in the manner called for in the contract, or if the <br /> Contractor fails to comply with any other provision of the contract, or <br /> <br />• Customer complaints to the City of the vendor’s performance and quality of food <br />• If the Contractor abandons or vacates the event premises prior to the scheduled hour <br /> of event hereof, or <br /> <br />• If the Contractor fails to make payments as set forth herein and said payment is not <br /> made within 15 days after written notice is given to Contractor, including applicable <br /> late charges. <br /> <br />• The acceptance of all or part of monies due for any period after the default shall not be <br />deemed a waiver of any of these options, not a waiver of default of subsequent default of <br />the same of any other term, covenant and condition.