A. A grantee shall maintain books of accounts and records adequate to enable the grantee to demonstrate that it is in compliance with the obligation to pay the franchise fees required of grantee in this section 3-1-10 and its franchise agreement. A grantee shall not be required to maintain books and records for compliance purposes under this section 3-1-10 for a period longer than four (4) years. Upon reasonable prior written notice, during normal business hours at a grantee's business office located in the Chicago metropolitan area, the village shall have the right to inspect or cause an audit to be made of a grantee's relevant books and records for the purpose of verifying the correct amount of any payment required to be made by a grantee under this section 3-1-10.
B. Unless otherwise provided in a franchise agreement, in the event of a discrepancy between the franchise fee paid and the amount of the verified audit of the grantee's books and records, the grantee shall pay to the village the amount of the underpayment within thirty (30) days of the verification of the discrepancy, plus an interest charge on the deficiency at the rate set forth in the franchise agreement. No acceptance of any payment by the grantee to the village shall be construed as a release or as an accord and satisfaction of any claim the village may have for further or additional sums payable as a franchise fee or for the performance of any other obligation of the grantee.
C. A grantee shall not be required to disclose information that it reasonably deems to be confidential or proprietary, nor disclose any of its or an affiliate's books and records not directly related to such grantee's compliance with its obligations under this section 3-1-10. The village agrees to treat any information disclosed by a grantee and clearly marked by such grantee as confidential or proprietary in a manner that protects such confidential and proprietary information and to limit disclosure, to the extent permitted by law, to employees, representatives and agents of the village that have a need to know in order to enforce this section 3-1-10. (Ord. 09-4-5, 4-7-2009)