1. A summary of the previous year’s (or in the case of the initial reporting year, the initial year’s) activities in development of the cable system, including, but not limited to, services begun or discontinued during the reporting year.

2. A list of grantee’s officers, members of its board of directors, and other principals of grantee.

3. A list of stockholders or other equity investors holding five percent (5%) or more of the voting interest in grantee.

4. Information as to the number of subscribers and the number of basic and pay service subscribers.

5. The town, including its agents and representatives, shall have the authority, during normal business hours, to arrange for and conduct an inspection of annual reports required pursuant to this article or a license agreement. The Town shall give the grantee seventy-two (72) hours’ written notice of the inspection request.

6. If the requested information is proprietary in nature or must be kept confidential by State, Federal or local law, upon proper request by grantee, such information obtained during such an inspection shall be treated as confidential. To the extent that any Federal or State law requires grantor to disclose any such records, the Town shall be entitled to disclose records.