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<br />,:.' <br /> <br />th~ estimated costs less ten percent (lØ%) thereof. In the <br />event the actual costs exceed the estimated costs by more <br />than ten percent (lØ%), Grantor shall give due considera- <br />tion to a rate request by Grantee to the extent of the <br />difference between the actual costs and the estimated costs <br />plus ten percent (lØ%) thereof. <br /> <br />(b) Grantee agrees to transfer local programming equip- <br />ment to Grantor, consisting of all items listed in "Ex- <br />hibit A," attached hereto and by this reference <br />incorporated herein, valued at approximately Eight Hundred <br />and One Thousand Dollars ($8Øl,ØØØ.ØØ). <br /> <br />(c) Grantee agrees to provide a grant to Grantor in the <br />total amount of Two Million Five Hundred Thousand Dollars <br />($2,5ØØ,ØØØ.ØØ) payable in the form of a letter of credit <br />or other security acceptable to the City Attorney of Gran- <br />tor, with payments scheduled as follows: <br /> <br />(1) Five Hundred Thousand Dollars ($5ØØ,ØØØ.ØØ) on or <br />before January 1, 1986; and <br /> <br />(2) One Million Dollars ($l,ØØØ,Øøø.øØ) on or before <br />January 1, 1987; and <br /> <br />(3) One Million Dollars ($l,ØØØ,Øøø.øØ) on or before <br />January 1, 1989. <br /> <br />All of the above amounts may be drawn upon by Grantor <br /> <br /> <br />only for construction of a studio, telecommunication facil- <br /> <br /> <br />ity, studio and telecommunication complex, or repair or <br /> <br />replacement of local programming equipment, transferred as <br /> <br />provided in subparagraph (b) hereinabove. Grantee agrees <br /> <br />that none of the above sums are to be included as part of <br /> <br /> <br />any franchise fees due Grantor under said agreement, as <br /> <br />amended by this agreement. <br /> <br />-12- <br />