Every owner of multiple-family dwelling unit(s) or rental dwelling units required to be licensed under this chapter shall pay the appropriate fees for such license as set forth in the city's consolidated fee schedule and in accordance with the provisions of this title. If there is more than one owner, including purchases under contract, each owner shall be jointly and severally liable to pay the business license fee. The fee shall be paid at the time of application for a new or renewal license. The city may, in its sole discretion, enter into a payment plan agreement with the owner alleging the license to pay the fees required hereunder in two (2), three (3) or four (4) equal installment payments made at regular intervals during the term of the license. Failure to make timely payments required pursuant to a payment plan may result in the suspension or revocation of the license and imposition of penalty fees as set forth by the city, or as otherwise provided in the payment plan agreement. (Ord. 590, 2-15-2005)