(a) Following the issuance and acceptance of a Franchise and as compensation for the benefits and privileges granted under the Franchise and in consideration of permission to use Grantor’s Streets and rights-of-way, Grantee shall pay to Grantor a Franchise Fee upon Grantee’s Annual Gross Revenues in the amount as set forth in the Franchise Agreement.
(b) Grantor, on an annual basis, shall be furnished a Statement within one hundred twenty (120) days of the close of the calendar year, certified by an officer of Grantee or audited by a Certified Public Accountant, reflecting and attesting to the total amounts of annual gross revenues and all payments, and computations for the previous calendar year. At any time and upon thirty (30) days prior written notice and no more than once per calendar year, Grantor shall have the right to conduct an independent audit of Grantee’s records, in accordance with generally accepted accounting principles and if such audit indicates a Franchise Fee underpayment of five percent (5%) or more, Grantee shall assume all reasonable costs of such an audit.
(c) Except as otherwise provided by law, no acceptance of any payment by Grantor shall be construed as a release or as an accord and satisfaction of any claim Grantor may have for further or additional sums payable as a Franchise Fee under this chapter or any Franchise Agreement or for the performance of any other obligation of Grantee.
(d) In the event that any Franchise Fee payment or recomputed amount is not made on or before the dates specified in the Franchise Agreement, Grantee shall pay as additional compensation an interest charge, computed from such due date, at an annual rate equal to the prime lending rate plus one and one-half percent (1½%) during the period for which payment was due.
(e) In the event any payment is not received within thirty (30) calendar days from its due date, Grantee shall further be assessed an additional amount of One Hundred Dollars ($100.00) per day. Grantee’s liability for such amount in such cases shall not be subject to but shall be in addition to the remedies set forth in Section 921.26 herein for Franchise violations and may be taken from the Performance Bond in accordance with Section 921.21 herein.
(f) Franchise Fee payments shall be made in accordance with the schedule indicated in the Franchise Agreement and shall be accompanied by a report in the form of the Franchise Fee Payment Worksheet attached to the Franchise Agreement as Exhibit “B.”
(g) Grantor represents that it is its intention to be able to charge up to the maximum amount of Franchise Fees allowed by law which is presently set at five percent (5%). This maximum may be amended by mutual agreement between Grantor and Grantee during the term of the Franchise by any higher maximum amount that may be set by FCC regulations or the Cable Act as the same may be amended from time to time. Grantee shall implement the change within ninety (90) days of written notice of the same by Grantor.
(h) No term or condition in this chapter or the Franchise Agreement shall in any way modify or affect Grantee’s obligation to pay Franchise Fees. Although the total sum of Franchise Fee payments and additional commitments set forth elsewhere in this chapter or the Franchise Agreement may total more than the maximum allowable percentage of Grantee’s Gross Revenues in any 12 month period, Grantee agrees that the additional commitments are not Franchise Fees as defined under any Federal law, nor are they to be offset or credited against any Franchise Fee payments due to Grantor, nor do they represent an increase in Franchise Fees to be itemized as such on the Subscriber’s bill.
(i) Payment of the Franchise Fee under this chapter or the Franchise Agreement shall not exempt Grantee from the payment of any other license fee, tax, levy, assessment or charge on the business, occupation, services, property or income of Grantee which is hereafter lawfully imposed on all entities engaged in the same business as Grantee.