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License Fee. The License Fee for the Pouting Rights (the "License Fee") shall be One Hundred Seventy- <br />Five Thousand dollars ($175,000.00), payable in annual installments as follows: <br /> <br />AMOUNT DATE DUE <br /> <br />$35,000.00 Date of Agreement <br />$35,000.00 July 1, 2003 <br />$35,000.00 July 1,2004 <br />$35,000.00 'July 1, 2005 <br />$35,000.00 July 1, 2006 <br /> <br /> The amount of$175,000, to be used by the County in support of marketing programs for the benefit of Pepsi <br />· and the County, shall be used at the discretion of the County. <br /> <br />6. Payment of Funds. Unless Otherwise specifically provided herein, ail payments owing to the County <br /> hereunder will be made within ninety (90) days of the annual date due. <br /> <br />Equipment. Upon execution of this Agreement or at such time as the useful life of the County's existing <br />beverage dispensing equiPment ("Equipment") in each Property expires, Pepsi will pro'ride the County with <br />mutually agreeable dispensing equipment to be used exclusively for dispensing pePsi's Fountain and <br />Packaged Products. At all times, legal title to the Equipment shall belong to Pepsi. The County agrees to <br />cooperate with Pepsi in maintaining the Equipment in good working order throughout the Term, and Pepsi <br />agrees to provide maintenance. <br /> <br />Both parties acknowledge their agreement to the foregoing terms by signing both copies of this Agreement in the <br />space provided below. <br /> <br />Agreed to and Accepted by: <br /> <br />coUNTy OF CABARRUS, North Carolina <br /> <br />PEPSI BOTTLING CO. OF CHARLOTTE, INC. <br /> <br />County Manager <br />Date: <br /> <br />By: <br /> <br />Date: <br /> <br />Name <br /> <br />Title <br /> <br /> <br />