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9. Employees. The Operator, in its sole and absolute discretion, shall hire its own staff to <br /> operate, manage and maintain the Golf Course. The Operator shall be solely responsible for <br /> determining staffing levels and qualifications and setting its employees' compensation, benefits, hours <br /> and all other terms of employment. <br /> 10. Notices. Any and all notices and payments required hereunder shall be addressed to the <br /> parties at their respective addresses listed on page 1 hereof, or to such other address as may hereafter <br /> be designated in writing by either party hereto. <br /> 11. Maintenance. The Operator agrees to maintain the Golf Course and cause any required <br /> repairs to be made at Operator's expense at the expiration of the term hereof, Operator shall deliver up <br /> the Golf Course in good order and condition. Notwithstanding the foregoing, the City, at its sole cost <br /> and expense, shall maintain, repair and replace, if necessary, the structural components of the <br /> clubhouse. The Operator is required to keep the clubhouse in accordance with state health and local <br /> building code requirements. The Operator will make repairs and prepare the clubhouse for each season, <br /> which includes winterization of the clubhouse. The clubhouse shall be returned to the City in <br /> substantially the same state that is was received by the Operator, reasonable wear and tear excepted. <br /> The Operator shall maintain the Golf Course under the standards set forth in Exhibit B. The <br /> Operator, however, in its sole discretion, shall determine what manners and procedures shall be <br /> employed to meet those standards. The Operator, in its sole discretion, has the right to sell and place <br /> signage on the Golf Course at each tee box, attached to the hole designation. <br /> 12. Accounting Standards. Operator shall maintain accounting records relating to the Golf <br /> Course using accounting practices in accordance with generally accepted accounting principles <br /> (GAAP). While the City is not requesting operating statements to be regularly furnished, the Operator <br /> shall make a presentation to City Council on an annual review of Pinewood operations. The <br /> presentation shall be made annually by the end of February of every year. The Operator shall keep <br /> detailed records of all revenues and expenses as are necessary to reflect the results of the operation of <br /> the Golf Course, including bills and invoices for supplies and services. <br /> 13. Revenue. All Revenues that the Operator receives from the management and operation <br /> of the Golf Course shall accrue to the Operator.. <br /> 14. Payment. All operating losses are the responsibility of the Operator except as <br /> specifically provided herein, the City will not compensate the Operator for any expenses the Operator <br /> incurs. <br /> 15. Concessions... The Operator shall provide the following concessions during the <br /> operating season: <br /> a. Golf balls, t-shirts, golf polos, sweatshirts and hats. <br /> b. Soda, candy, chips and packed sandwiches and other products. <br /> 16. Advertising. The Operator-shall provide the following advertising and promotion: <br /> 4 <br />