In the event that the franchisee does not make any franchise payment(s) or re-computed amount(s) on or before the applicable date(s) heretofore specified, then a late penalty shall accrue at a rate of one and one-half percent per month on the unpaid amount(s) from the date on which it was due. If the franchisee has not made a franchise payment or re-computed amount on or before the date that such payment or amount is otherwise due in accordance with the provisions of the ordinance codified in this title or the franchisee’s franchise agreement and such payment or re-computed amount is not made within five days after receipt of written notice from the city, franchisee shall pay an additional late penalty. Such a late penalty shall be an amount equal to ten (10) percent of the total unpaid amount including accrued interest. (Ord. 205 § 3, 2001)