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<br />per annum over the remaining life of this agreement; <br /> <br />provided, that in no event shall said costs be charged <br /> <br />as a part of the expenses of operation unless first approved <br /> <br />by the Village in writing by resolution adopted by its <br /> <br />Council. <br /> <br />6. All costs of construction, equipment, maintenance <br /> <br />and operation submitted by the Operator to the Village shall <br /> <br />be prepared by a Certified Public Accountant. The Operator <br /> <br />shall furnish on or before May 15 of each year, an annual <br /> <br />operating 'statement, prepared by a Certified Public Accountant, <br /> <br />~ ' <br /> <br />showing, among other things, the gross income, gross profit, <br /> <br />and net profit as defined in this agreement. All books and <br /> <br />records of the Operator shall be open for inspection by the <br /> <br />Village at any time upon the Village giving reasonable notice <br /> <br />to the Operator of its demand for inspection. <br /> <br />7. The Operator shall obtain Workmen's Compensation <br /> <br />Insurance on all employees of the Operator employed at the <br /> <br />facility, and for the purposes of this agreement, alli persons <br /> <br />employed at the ski facility during the ski season shall <br /> <br />be deemed to be employees of the Operator except those persons <br /> <br />employed by the Recreation Department of the Village who shall <br /> <br />not be on the payroll of the Operator, and are specifically <br /> <br />excluded therefrom. The Operator shall also obtain in an <br /> <br />insurance company authorized to do business in the State of <br /> <br />Minnesota public liability insurance in the 'amount of not <br /> <br />less than Three Hundred Thousand ($300,000.00) Dollars per <br /> <br />One Hundred Thousand ($100,000) per individual <br />occurrence; and property damage in an amount of not less than <br /> <br />Twenty-five Thousand ($25,000.00) Dollars for the operation <br /> <br />of the said ski area. The Operator shall furnish to the <br /> <br />Village both memorandum copies of the said insurance policies <br />