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Oct, 13 O0 04:43p Lau~ O~e'F'ices 314'l?l,~"~lat [~.t3 10. Compensation. In addition to any permit fees or other payments required under this Agreement, Metromedia shall make quarterly payments to the City in the amount of forty- eight and one half cents ($.485) per linear foot for undergrom~d facilities located in the Public Ways, for an armual 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 (251h) 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, Metromedia shall pay compound interest at an annual peruenrage rate of twelve pement (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 heroin shall increase as of January 1 of each year, beginning with the year 2001, by two percent (2%) per annum. Any payments made by Metromedia under the City's license tax on telephone service during the calendar quarter for ~vhich 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 fungished with a statement certified by Metromedia showing the totaI number of linear feet, the compensation required therefor, and any tax credits claimed, Nothing contained heroin shall relieve Metromedia of any obligations imposed by the City Municipal Code upon telephone companies. In addition to the compensation payable by Metromedia under this Agreement, Metromedia shall pay University City the sum of Ten Thousand Dollars ($10,000.00) upon the execution of this Agreement. 1 I. Most Favored. (a) In the event that Metmmedia 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 compensatiox~ ander 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 temas applicable to Metromedia in that political subdivision. Upon request from the City, Metromedia shall submit to the City a copy of any license agreement Metromedia has entered into with another political subdivision in the metropolitan St. Louis area. The City shall notify Metromedia in writing of the City's election to accept such substitute compensation ternis. This Section 11 (a) applies to any agreement now or hereafter in effect during the Term of this Agreement. -6-