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329 <br /> <br />installation, operation, and maintenance of Radios, and the <br />rendering of Services under this Franchise. <br /> <br /> 4.3 As compensation for this Franchise, Metricom shall pay to <br />the City, on a quarterly basis, an amount equal to five percent <br />(5%) of Metricom's Gross Revenues which amount will be collected <br />from subscribers of the Services and remitted to city as provided <br />herein. The compensation required by this section shall be due on <br />or before the 45th day after the end of each calendar quarter, or <br />fraction thereof. Within 45 days after the termination of this <br />Franchise, compensation shall be paid for the period elapsing since <br />the end of the last calendar quarter for which compensation has <br />been paid. Metricom shall furnish to the City with each payment of <br />compensation required by this section a statement, executed by an <br />authorized officer of Metricom or his or her designee, showing the <br />amount of Gross Revenues for the period covered by the payment. If <br />Metricom discovers that it has failed to pay the entire or correct <br />amount of compensation due, the City shall be paid by Metricom <br />within fifteen (15) days of discovery of the error or determination <br />of the correct amount. Any overpayment to the City through error <br />or otherwise shall be offset against the next payment due from <br />Metricom. Acceptance by the City of any payment due under this <br />section shall not be deemed to be a waiver by the City of any <br />breach of this Franchise occurring prior thereto, nor shall the <br />acceptance by the city of any such payments preclude the city from <br />later establishing that a larger amount was actually due, or from <br />collecting any balance due to the City. <br /> <br /> 4.4 Metricom shall keep accurate books of account at its <br />principal office in Los Gatos or such other location of its <br />choosing for the purpose of determining the amounts due to the City <br />under Section 4.3. The city may inspect Metricom's books of account <br />at any time during regular business hours on five (5) days' prior <br />written notice and may audit the books from time to time at City's <br />sole expense, but in each case only to the extent necessary to <br />confirm the accuracy of payments due under Section 4.3. The city <br />may require quarterly or annual reports from Metricom relating to <br />its operations and revenues within the city. city agrees to hold <br />in confidence any non-public information it learns from Metricom in <br />accordance with applicable law. <br /> <br /> 4.$ Metricom shall reimburse the City at City's standard <br />rates for all reasonable expenses relating to the preparation, <br />issuance, implementation and administration of this Franchise, not <br />to exceed Two Thousand Dollars ($2,000) in the aggregate. <br /> <br /> 4.$ As additional compensation for this Franchise, Metricom <br />shall pay to the city an annual fee (the Annual Fee) in the amount <br />of Sixty Dollars ($60.00) for the use of each City-owned pole or <br />other property upon which a Radio has been installed pursuant to <br />this Franchise. The initial Annual Fee shall be due and payable <br />not later than the date of installation of the first Radio on a <br /> <br />5 <br /> <br /> <br />