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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