(a) No Invoice. Grantee shall pay without requirement for invoice or reminder from the City, and within 30 days of the last day of the quarter for which the payment applies. If the quarterly compensation is not postmarked or delivered on or before the due date, interest thereon shall accrue from the due date until received, at the applicable statutory interest rate.

(b) Calculation of Compensation. Grantee shall submit to the City a statement, executed by an authorized officer of Grantee or designee, showing the amount of Gross Revenue for the period covered by the payment, and the manner in which the compensation was calculated.

(c) No Accord & Settlement. No acceptance by the City of any compensation shall be construed as an accord that the amount paid is, in fact, the correct amount, nor shall acceptance of any payment be construed as a release of any claim of the City.

(d) Verification; City Right to Audit. To verify the correctness of the compensation paid by Grantee and Grantee’s compliance with this Agreement, the City shall have the right to examine, audit, inspect, review, and/or obtain copies of (collectively, “Audit”) at its cost and expense, except as set forth in this subsection (d), the papers, books, accounts, documents, maps, plans and other records (collectively, the “Records”) of Grantee pertaining to all revenue derived by Grantee in connection with Grantee’s provision of telecommunications service through Grantee’s Facilities, upon no less than fifteen (15) business days written notice to Grantee (no more often than once per calendar year), to verify the correctness of the compensation paid by Grantee. Grantee shall fully cooperate in making reasonably available its records and otherwise assisting in these activities as is necessary for City to reasonably verify the correctness of the compensation paid by Grantee. The City may extend the time for the provision of such Records upon a reasonable showing by Grantee that such extension is justified. In the event that such audit discloses a discrepancy of more than five percent (5%) between the financial report submitted by the Grantee with a quarterly payment and the actual Gross Revenue collected by Grantee, the Grantee agrees to pay the City the costs of such audit; provided that (a) the City will not be entitled to reimbursement of such Audit costs more than once in any five (5) year period, and (2) the total reimbursement to the City in any five (5) year period for the Audit costs shall not exceed one hundred fifty percent (150%) of the amount of the discrepancy. In the event that such Audit results in a determination that additional compensation is due the City, Grantee further agrees to pay interest as required for late payment on such additional compensation computed from the date on which such additional compensation was due and payable.

(e) Franchise Application Fee. Unless previously paid, within sixty (60) days of the effective date of this Agreement, Grantee shall pay to the City a one-time application fee of One Thousand Dollars ($1000.00). The parties agree that such fee reimburses the City for its reasonable, actual and verifiable costs of reviewing and approving this Agreement.

(f) Other Taxes; Fees. The compensation required herein shall be in addition to, not in lieu of, all taxes, charges, assessments, licenses, fees and impositions otherwise applicable that are or may be imposed by the City under K.S.A. 12-2001, 17-1902, K.S.A. 66-2019 and amendments thereto. (Ord. 20044 § 7, 12-20-16.)