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<br />Section 4.4 Drop Box. <br /> <br />The Grantee must maintain a local drop box for receiving Subscriber, payments <br />in the City. <br /> <br />SECTION 5. ADMINISTRATION PROVISIONS <br /> <br />Section 5.1 Franchise Fee. <br /> <br />a. The Grantee shall pay a Franchise Fee to the City in an amount <br />equal to five percent (5%) of its Gross Revenues. The Grantee shall remit <br />Franchise Fee payments to the City on a quarterly basis within 60 qays of the <br />close of the preceding calendar quarter. Payments shall be basedi on Gross <br />Revenues generated during the preceding quarter. <br /> <br />b. Each Franchise Fee payment must be accompanied bya report in <br />form reasonably acceptable to City detailing the computation of the payment. All <br />amounts paid are subject to audit and recomputation by the I City, and <br />acceptance of any payment must not be construed as an accord that ~he amount <br />paid is in fact the correct amount. In accordance with Minn. Stat. ~ 541.05, any <br />action to recover Franchise Fees must be commenced within six ($) years of <br />receipt of the Franchise Fee payment or due date for such payment. <br /> <br />c. In the event that any Franchise payment or ~ecomputed payment is <br />not made on or before the dates specified herein, Grantee shall pay Ian interest <br />charge, computed from such due date, at the annual rate of one percent over the <br />prime interest rate. <br /> <br />Section 5.2 Rules of Grantee. <br /> <br />The Grantee may promulgate such rules, terms and conditions governing the <br />conduct of its business provided that such rules, terms and conditio~s must not <br />be in conflict with the provisions of this Franchise, the Cable Onliinance, or <br />applicable laws or regulations. <br /> <br />SECTION 6. INDEMNIFICATION, INSURANCE, BONDS AND SECURITY <br />FUND <br /> <br />Section 6.1 Indemnification. <br /> <br />By acceptance of this Franchise, the Grantee agrees to indemnify, defend, and <br />hold the City harmless in accordance with the Cable Ordinance. <br /> <br />Section 6.2 Insurance. <br /> <br />At the time of acceptance of this Franchise, the Grantee will file wit~ the City a <br />Certificate of Insurance in accordance with the Cable Ordinance. l1he Grantee <br />must maintain such insurance for the entire term of this Franchise. <br /> <br />RJV-2Sn02vl <br />SH2SS-1 <br /> <br />7 <br />