5.A1 Operations & Management Agreement

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procedures and generally-accepted accounting principles that meet with Owner's reasonable approval. Owner and its duly authorized representatives, including the State Board of Accounts, shall have the right, at any time, to examine all account books and records and all other documents and materials in the possession of Manager or under the control of Manager with respect to any aspect of the operation and/or maintenance of the Golf Course and shall have free and full access thereto for the purpose of making copies thereof. Manager shall provide Owner with written accounting reports on a monthly basis, in such form and containing such information as reasonably determined by Owner. 6.5 Ownership of Accounting Records and On-Site Equipment. Upon termination of this Agreement for any reason, all source documents, work papers, financial statements, and other supporting materials, documents, and the like shall be and remain the property of Owner. Any on-site equipment or systems purchased by Owner, such as cash registers or computers, also shall be and remain property of Owner. Complete financial statements shall be furnished by Manager to Owner through the month of termination of this Agreement. SECTION 7 DUTIES, AUTHORITY, AND RESPONSIBILITIES OF MANAGER 7.1 Duties, Authority, and Responsibilities of Manager. On and after the Commencement Date, except as expressly set forth herein, Manager, acting as Owner's agent and on behalf of Owner, shall be responsible for the management and operation of the Golf Course. Manager shall have the authority and responsibility to exclusively operate and manage the Golf Course and supervise Owner-approved capital improvements as hereinafter provided in such manner as it, in its professional discretion, deems most likely to accomplish the objectives set forth in the Annual Business Plan and Annual Operating Budget in accordance with this Agreement. The responsibilities of Manager under this Agreement shall include, without limiting the generality of the foregoing, the following: Prepare and submit for Owner approval, a proposed Annual Business Plan and Annual Operating Budget by October 15 of the year prior to the Plan & Budget year. b. Employ, either directly or through a third-party professional employer or employee leasing company, all personnel required for the operation and maintenance of the Golf Course in accordance with the Annual Business Plan and Annual Operating Budget and otherwise on terms approved by Owner. Such employees shall be employees of Manager and not of Owner or the Golf Course. Owner shall have the right to require Manager to discharge from any Golf Course duties an employee which Owner reasonably deems unsuitable for employment at the Golf Course, provided, such termination would not, in the opinion of -12-