Tracking and Penalties Sample Clauses

Tracking and Penalties. 1. The Operator will maintain tickets, reports, and other source documents in writing to standards approved by the COMMISSION and contained in the Operations Manual. The COMMISSION has the right to audit operations during the Base Term and the Option Term, if executed, as well as any holdover period of this Agreement and for a period of two (2) years following the termination of the Agreement as called for herein. If the COMMISSION finds that the Operator has not complied with the terms of this Agreement and any approved operating standards and such failures are not remedied following written notice and a cure period not to exceed ten (10) calendar days as provided for herein, the Operator will pay liquidated damages of fifty dollars ($50.00) per day, for the first three calendar days, each day it takes to bring the records into compliance. After the first three (3) calendar days of noncompliance, the Operator will pay liquidated damages of two hundred fifty dollars ($250.00) per day for each day it takes to bring the records into compliance. If at the end of the fifth (5th) calendar day, the source document cannot be located, it will be declared lost. The total cost for a lost source document will be the sum of the five-day liquidated damages; six hundred fifty dollars ($650). Neither the assessment by the COMMISSION nor the Payment by the Operator of liquidated damages will release the Operator from the full actual damages to the COMMISSION for any failure to maintain required documentation. Liquidated Damages are due and payable upon demand and failure to pay shall be considered a default under this Agreement. Liquidated damage assessments will be due and payable upon demand. 2. The Operator will pay the COMMISSION any monies lost due to negligence, audit adjustments, theft, or unaccounted for tickets, as addressed in Subsection 3 below. Additionally, the Operator will pay interest as called for in this Agreement on these amounts from the time they are due until the time they are collected. The interest charged will be the then-current legal rate established for post-judgment interest allowed by the Commission. 3. The Operator will pay the COMMISSION the prevailing 24-hour charge for public parking in the short-term lot, for each unaccounted-for ticket over 0.1 percent (.001 times the total number of tickets issued) of the total tickets issued each month. Unaccounted-for tickets are defined as the difference between the actual vehicle count taken, plus ...