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On or before 3uly 1, 2005, SMG shall make a Fifty Thousand Dollar ($50,000) contribution to a segregated interest bearing account established in accordance with Section 5.6 for the purposes of promoting and developing new event activity at the Facility ("At R1ak Event Fund'. The Coumy shall make a cont~rporaneous contnibution to the At Risk Bvent Fund of Fifty Thousand Dollars ($50,000). SMG shall, subject to periodic consultation with the County and the Cabarms County Convention and Visitor's Bureau, manage and control the At Risk Event Fund. Each party may make requeats/rocommendationa in respect of potential events, or concepts for potential events, which may ba fimded, in whole or in part, through the At Risk Bvent Fund. The At)tiek Bvont Fund will ba replenished up to a maximum of the original prin- cipal amount of $100,000 from profits, if any, from events in which funds of the At ffiak Event Funds are utilized. Any remaining profits from such events will ba placed in the Operating Ac- count. Losses, if any, shall be deducted from said Fund without recourse to SMG or the County. Arty events developed with any contnbutions from avid Fund shall pay rent (end reimburse ex- penses) to the Facility consistent with that paid by third party users of the Facility on a "most fa- vored client' baeisfor similar types of shows, Upon termination or expiration of this Agroement and provided such termination is not due to breach of this Agreement by SMG, SMG shall be entitled to withdraw half of the funds then in the account up to SMG's $50,000 (plus a prorated share of any accrued interest) from the At Risk Event Fund. - 6. Records, Audits and Reports. 6.1 Records and Audits. (a) SMG shall keep full and accurate accounting records relating to its activi- ties at the Facility in accordance with generally accepted United States accounting principles. SMG shall maintain a system of bookkeeping adequate for its operations hereunder and suffi- cient to allow the County to determine SMG's compliance with this Agreement and the Facility's complete financial status and performance at any time. SMG shall adjust its accounting proco- dareaupon request by the County tb conform with any applicable requirements of state or federal law or with the reasonable recommendations of the County's Finance Director, financial advisors or bond underwriters. 3MG shall give the County's authorized representatives access to such books and records at any reseonabhj time. SMG shall keep and preserve for at least three (3} years following eaoh Fieeal Year all sales slips, rental agreements, puichasa order, salsa books, credit card invoices, batrk books or duplicate deposit slips, and oWar evidence of Operating Revettuea and Operating Bxpenaea for such period. In addition, on or before ninety (90) days following each Fiscal Year for which SMG ie managing the Facility hereunder, SMG shall flu- nish to the County a balance sheet, a etatoment of profit or lose sad a statement of cash flows for the Facility for the preceding Fiscal Year, prepared in accordance with generally accepted United States accounting principles and accompanied by an indepanderrt auditor's report of a nationally recognized, independent certified public accountant. The audit shall contain an opinion ~- presaed by the independent auditor of rho accuracy of financial records kept by SMG and of amounts due tb the County. The audit shall also provide a cefificstion of Operating Revenues and Operating Bxpensea as defined in this Agreement for such Fiscal Year. The audit shall be conducted by rho County's independent auditor. The County shall not withhokl or delay such consent or approval unreasonably. The costa of such audit shall be deemed Operating Hxpenses. mvieed ahanus e;romm~tvMd ~d.dooravieed ubanm opamentvanel md.dac 17 01993-20C