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Dec,IS O0 04:09p Lam O~ices 3147272414 10. Compensation. In addition to any permit fees or other payments required under this Agreement, American shall make quarterly payments to the City in the amount of forty-nine and one half cents ($,495) per linear foot for underground facilities located in the Public Ways, for ao annual amokmt of one dollar and ninety-eight cents ($1.98) per linear fool. The payment shall be made by check or money order delivered to the City Manager by the close of business of the twenty-~flh (251h) day of the calendar month immediately following the close of the calendar quarter for which the payment is calculated. In thc event any quarterly payment is made after the close of business on the date due, American shall pay compound interest at an annual percentage ratc 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 privil~zges or rights of either part)'. The rate of compensation herein shall increase as of January 1 of each year, beginning with the year 2002, by two percent (2%) per annum. Any payments made by American under the City~s license tax on telephone service during the calendar quarter ibr which the payment is calculated shall be allowed as a credit against any compensation due ibr such quarter. At the time of payment, the City shall be furnished with a statement certified by American showing the total number of linear feet. the cmnpensation required therefor. and any tax credits claimed. Nothing contained herera shall relieve American of any obligations imposed by the City Municipal Code upon telephone companies. In addition to the compensation payable by American under this Agrecment, American shall pay University City the sum of Ten Thousand Dollars (S10,000.00) upon the execution of this Agreement. 11, Most Favored. (a) In the event that American is granted rights to place liber 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 (ke., a greater dollar amount per linear foot of fhcilities), the City shall lmve the option to replace the compensation terms stated in Section: 10 of this Agreement with the compensation terms applicable to American in that political subdivision. Upon request from the City, American shall submit to the City a copy of any license agreement Americm~ has entered into with another political subdivision in the metropolitan St. Louis area. The City shall notify American in writing of the City's election to accept such substitute compensation terms. This Section I 1 (a) applies to any agreement now or hereafter in eftEct during the Term of this Agreement. -6-