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10. Compensation. In addition to any permit fees or other payments required under this Agreement, Level 3 shall make quarterly payments to the City in the amount of forty-eight and one half cents ($.485) per linear foot for underground facilities located in the Public Ways, for an annual amount of one dollar and ninety-four cents ($1.94) per linear foot. The payment shall be made by check or money order delivered to the City Manager by the close of business of the twenty-fifth (25th) day of the calendar month immediately following the close of the calendar quarter for which the payment is calculated. In the event any quarterly payment is made after the close of business on the date due, Level 3 shall pay compound interest at an annual percentage rate of twelve percent (12%) of the total amount past due. Acceptance of money under this Section shall not in any way limit or inhibit any of the privileges or rights of either party. The rate of compensation herein shall increase as of January 1 of each year, beginning with the year 2001, by two percent (2%) per annum. Any payments made by Level 3 under the City's license tax on telephone service during the calendar quarter for which the payment is calculated shall be allowed as a credit against any compensation due for such quarter. At the time of payment, the City shall be furnished with a statement certified by Level 3 showing the total number of linear feet, the compensation required therefor, and any ta.x credits claimed. Nothing contained herein shall relieve Level 3 of any obligations imposed by the City Municipal Code upon telephone companies. In addition to the compensation payable by Level 3 under this Agreement, Level 3 shall pay University City the sum of Ten Thousand Dollars ($10,000.00) upon the execution of this Agreement. 11. Most Favored. (a) In the event that Level 3 is granted rights to place fiber optic cable in and upon public roads, rights-of-way and easements of another political subdivision in the metropolitan St. Louis area, and agrees to pay compensation under any such agreement at a rate that exceeds the compensation rate required under this Agreement (i.e., a greater dollar amount per linear foot of facilities), the City shall have the option to replace the compensation terms stated in Section 10 of this Agreement with the compensation terms applicable to Level 3 in that political subdivision. Upon request from the City, Level 3 shall submit to the City a copy of any license agreement Level 3 has entered into with another political subdivision in the metropolitan St. Louis area. The City shall notify Level 3 in writing of the City's election to accept such substitute compensation terms. This Section 11 (a) applies to any agreement no~v or hereafter in effect during the Term of this Agreement. -6-