§ 1060-130. FRANCHISE PAYMENTS

(a)

Immediately upon execution of the franchise, the Grantee shall pay to the Grantor, quarterly within 60 days of the end of each quarter, the sum of 5% of gross revenues as defined in Section 1060-010(l), received for operations in the County for the preceding quarter. No other fee, charge or consideration shall be imposed except such business license fees, construction, development and inspection, and permit fees as set by the Grantor and applicable to qualifying businesses and individuals in the community.

(b)

The Grantee shall file with the Grantor, within 90 days after the expiration of any calendar year or portion thereof during which this franchise is in force, either an audited financial statement prepared by an independent certified public accountant or certified by an officer of Grantee, certifying under penalty of perjury, and in a form satisfactory to the Grantor's Financial Officer, showing in detail the gross annual receipts, as defined herein, of Grantee. The statement shall fully reconcile any and all discrepancies in the fees paid in the preceding 12 months. The statement shall be prepared in accordance with generally accepted accounting standards. Upon reasonable notice and during regular business hours, Grantor shall have the right to inspect the Grantee's record, and make copies thereof, covering its gross subscriber revenues under the franchise and the right of audit and recomputation of any and all amounts payable under this chapter; the cost of said audit shall be borne by Grantee when the same results in increasing by more than 5% the Grantee's annual payment to the Grantor. No acceptance of any payments shall be construed as a release or as an accord in satisfaction of any claim the Grantor may have for further or additional sums payable under this chapter or for the performance of any other obligation hereunder.