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Each monthly Franchise Fee remittance to City shall be accompanied by a statement detailing Gross Receipts from Customers direct -billed by Contractor for the period covered from all operations conducted or permitted, pursuant to this Agreement. In addition, Contractor shall maintain copies of all Billing and Collection records for five (5) years, following the date of billing, for inspection and verification by City at any reasonable time upon request. 3.6 Franchise Fee Supplemental Payment As described in Section 3.1, the Franchise Fee shall be the higher of eight million dollars ($8,000,000) per contract year or 17.9% of Gross Receipts. Contractor shall make regular monthly Franchise Fee payments as described in Section 3.5. If the total of the 12 regular monthly Franchise Fee payments for the period of July through June are less than $8,000,000, then the Contractor shall remit a supplemental payment with the regular June payment that is equal to the difference between $8,000,000 and the amounts paid for the contract year. For example, if the sum of the regular 12 monthly Franchise Fee payments for the contract year is $7,500,000, then a supplemental payment of $500,000 would be due in addition to the regular June payment. If the sum of the 12 regular monthly payments is equal to or greater than $8,000,000, then no supplemental payment would be due for that contract year. 3.7 Clean Business Initiative Program On July 1, 2022, and annually thereafter on each July 1 over the Term of this Agreement including Agreement extensions granted by the City, Contractor shall provide to the City fifty -thousand dollars ($50,000) for the cost of administering the Clean Business Initiatives Program. The foregoing notwithstanding, beginning the Rate Year 2 (July 2, 2023) and for all subsequent Rate Years, the amount of the Clean Business Initiative Program shall be adjusted annually to reflect the change in the average annual CPI for the twelve (12) month period ending December. If there is no increase in the CPI or if the CPI decreases, the Clean Business Initiative Program shall remain unchanged from the previous Rate Year. August 17, 2021 39 City of Santa Ana