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Page 2 Fairground Committee May 20, 1991 iii. The amounts received from the rentals of stalls in the horse barn located on the premises. iv. The amounts received for ticket sales for any activity on the premises. V. The amount received for Sublessee's annual rodeo. vi. The amounts received from any other source. vii. The terms "sums of money" shall include services rendered or value received by Sublessee from others in lieu of money received for use of the premises. This does not include donated services for charitable purposes. STATEMENT OF GROSS RECEIPTS #2.03. On or before the 15th day following the end of each quarter of each year of this Sublease, Sublessee must furnish Sublessor with a true and accurate statement, signed by Sublessee or by an authorized representative of Sublessee, showing its gross receipts for each month during the term of this sublease and any extension of this sublease. For the purposes of this paragraph, "Each quarter" means May 15th, August 15th, November 15, and February 15 of each year, beginning August 15, 1991. Sublessee agrees to provide its statement of gross receipts to Sublessor by sending a copy to Sublessor's mailing address, located at P.O. Box 964, Paris, Texas 75460, or at such other location or locations as Sublessor shall from time to time designate by written notice to Sublessee. BOOKS AND RECORDS OF SUBLESSEE #2.04 Sublessor and authorized representatives of Sublessor shall have the right to examine the statements, paragraph at the leased premises during Sublessee's regular business hours. If, on examination of the books or records of Sublessee, a material error shall be revealed in favor of the Sublessor that results in additional gross receipts, then the reasonable costs of the examination must be paid by Sublessee to Sublessor. Otherwise, Sublessor will bear the cost of the examination. Sublessor's right to examine the statements and supporting documents shall be limited to no more than twice each year of the sublease upon reasonable notice to Sublessee. Failure of Sublessee to report all gross receipts shall be grounds for the termination of this agreement upon written notice from Sublessor to Sublessee of a material error and the error is not corrected within thirty days." Councilman Bell said he sees problems with the lease between the City of Paris, and the Red River Valley Fair Association, and pointed out that on page two of that lease, the description of what the rent would be is not defined as well as it is in the lease with the Fair