AG 1998 02 16 - Laserfiche WebLink

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all taxes which are now or may be required hereafter to be paid by any Federal, State, or Local law. C. Acceptance by the County. No acceptance of any payment by the County shall be construed as a release or as an accord and satisfaction of any claim the County may have for further or additional sums payable as a Franchise fee under this Ordinance or for the performance of any other obligation of the Grantee. D. Failure to Make Required Payment. In the event that any Franchise payment or recomputed amount is not made on or before the dates specified herein, Grantee shall pay as additional compensation an interest charge, computed from such due date, at the annual rate equal to the commercial prime interest rate of the County's primary depository bank during the period that such unpaid amount is owed. E. Payments to be Made Quarterly. The Franchise fee and any other cost or damage assessed against the Grantee shall be payable quarterly to the County of Cabarrus. The Grantee shall file a complete and accurate statement (certified by an officer of the Grantee responsible for the System's financial statements) of all gross revenues within the Franchise area during the period for which said quarterly payment is made, and said payment shall be made to the County no later than forty-five (45) days following the end of each calendar quarter. Quarterly computation dates are the last day in the months of March, June, September and December. F. The County's Right of Innpection. The County shall have the right to inspect the Grantee's income records and the right to audit and to recompute any amounts determined to be payable under this Ordinance. Audits shall be at the expense of the County unless such audit shows the Grantee to be in arrears by five percent (5 %). In such case, the Grantee shall reimburse the County for the actual out-of- pocket cost of the audit. Any additional amount due the County as a result of the audit shall be paid within thirty (30) days following written notice to the Grantee by the County which notice shall include a copy of the audit report. 4.16 FORFEITURE OR REVOCATION. A. Grounds for Revocation. The County reserves the right to revoke any Franchise granted hereunder and rescind all rights and privileges associated with the Franchise in the following circumstances, each of which shall represent a default and breach under the Ordinance and the Franchise grant: (1) If the Grantee shall default in the performance of any of the material obligations under this Ordinance or under any related documents, contracts and other terms and provisions entered into by and between the County and the Grantee.