In consideration of the granting of this franchise, the franchisee shall pay to the town a franchise fee of 3% of annual gross revenues from all sources from its customers within the franchise area described herein. In addition, Cox Cable of Michigan City, Inc. shall be responsible for 50% of all costs of publication and any additional costs incurred by the town in its study, preparation of proposal, documents, and other efforts up through and including the adoption of this chapter including reasonable attorney’s fees which the expenses shall not, in any event, exceed the sum of $400 to be paid by Cox Cable of Michigan City, Inc. The town will provide Cox Cable of Michigan City, Inc. with an accounting of these expenses and shall supply Cox Cable of Michigan City, Inc. with invoices for those expenses. Cox Cable of Michigan City, Inc. shall deliver the payment to the town within 30 days of receipt of the invoices. Failure to make timely payment of the expenses shall constitute a substantial violation of this agreement.
(Ord. 8203, passed 3-8-82)