The grantee hereof shall file with the city clerk of the city of Redlands, within three (3) months after the expiration of the calendar year, or fractional calendar year, following the date of the granting of the franchise, and within three (3) months after the expiration of each and every calendar year thereafter, a duly verified statement showing in detail the total gross receipts of the grantee, its successors or assigns, during the preceding calendar year, or such fractional calendar year, from the sale of the utility service for which the franchise is granted. It shall be the duty of the grantee to pay to the city within fifteen (15) days after the time for filing the statement, in lawful money of the United States, the specified percentage of its gross receipts for the calendar year, or such fractional calendar year, covered by such statement. Any neglect, omission or refusal of the grantee to file such verified statement, or to pay such percentage at the times or in the manner hereinbefore provided, shall be grounds for the declaration of a forfeiture of the franchise and of all rights hereunder. (Ord. 793 § 5, 1937)