Open Books. (a) The Developer shall maintain an “open book” policy with respect to the Total Project Costs. The Developer shall maintain in the Design Builder’s Tucson, Arizona office, on a current basis, in accordance with reasonable accounting systems and record management procedures, accurate and complete books and records, a record copy of all contracts, drawings, specifications, addenda, Change Orders and other modifications, applications for payment, invoices, bills, claims, payments, budgets, cash flows, and all other financial documentation and information relating to the Total Project Costs (collectively, the “Records”). The Owner shall have the right, at any time and from time to time, during normal business hours and after reasonable advance notice, to review the Records. The Developer shall cause the Design Builder will maintain copies of all Approved Plans and Specifications, shop drawings, product data, samples and submittals. (b) The Developer shall maintain the Records relative to each Phase for a minimum period of five (5) years after the Final Completion of such Phase. The Developer’s Authorized Representative shall be available to meet periodically with the Owner’s Authorized Representative during normal business hours and after reasonable advance notice to discuss any of the Records, any financial matters, and any other matters pertinent to the Project.
Appears in 4 contracts
Sources: Predevelopment Services Agreement, Predevelopment Services Agreement, Predevelopment Services Agreement