Common use of Open Book Clause in Contracts

Open Book. In addition to providing the City and other entities with jurisdiction access to the Property to conduct permit-related inspections of the Improvements, the Recipient will provide the City full access, upon the City providing reasonable notice, to all portions of the Property and all documents and records concerning the Improvements. During business hours and at the Recipient’s office, the Recipient shall make available for review by the City and its agents the books and records relating to the Recipient’s costs with respect to the Improvements to enable the City to verify the Improvements’ cost, including, but not limited to, the Recipient’s, general contractor’s and contractors’ sworn statements, general contracts, subcontracts, purchase orders, waivers of lien, paid receipts, invoices, and all other information requested by the City. These records shall be available for inspection, audit, and examination. The City agrees to keep all financial information of the Recipient confidential, except to the extent required for compliance with any applicable law, rule, or regulation. The foregoing City review and audit rights shall terminate on the Effective Date’s 2 year anniversary.

Open Book. In addition to providing the City and other entities with jurisdiction access to the Property to conduct permit-related inspections of the Improvements, the Recipient will provide the City full access, upon the City providing reasonable notice, to all portions of the Property and all documents and records concerning the Improvements. During business hours and at the Recipient’s office, the Recipient shall make available for review by the City and its agents the books and records relating to the Recipient’s costs with respect to the Improvements to enable the City to verify the Improvements’ cost, including, but not limited to, the Recipient’s, general contractor’s and contractors’ sworn statements, general contracts, subcontracts, purchase orders, waivers of lien, paid receipts, invoices, and all other information requested by the City. These records shall be available for inspection, audit, and examination. The City agrees to keep all financial information of the Recipient confidential, except to the extent required for compliance with any applicable law, rule, or regulation. The foregoing City review and audit rights shall terminate on the Effective Date’s 2 2-year anniversary.