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(5) · Franchise fee payments shall be made in accordance with the schedule <br />indicated in the Franchise Agreement. <br /> <br /> (6) Except as otherwise provided by law, no acceptance of any payment by <br />the Grantor shall be construed as a release or as an accord and satisfaction of any <br />claim the Grantor may have for further or additional sums payable as a Franchise Fee <br />under this Ordinance or for the performance of any other obligation of the Grantee. <br />B. Franchise Fee Audit <br /> <br /> Upon thirty (30) days pdor wdtten notice, Grantor shall have the right to conduct <br />an independent financial audit of Grantee's Gross Annual Cable Service Revenues and <br />Franchise Fee records, in accordance with Generally Accepted Accounting Procedures <br />(GAAP), and if such audit indicates a Franchise Fee underpayment of two percent (2%) <br />or more, the Grantee shall assume all reasonable documented costs of such audit. <br />C. Security Fund <br /> (1) Grantor may require Grantee to provide a security fund, in an amount and <br />form established in the Franchise Agreement. The amount of the secudty fund shall be <br />established based on the extent of the Grantee's obligations under the terms of the <br />Franchise. <br /> <br /> (2) The security fund shall be available to Grantor to satisfy all claims, liens <br />and/or taxes due Grantor from Grantee which adse by reason of construction, <br />operation, or maintenance of the System, and to satisfy any actual or liquidated <br />damages arising out of a matedal breach of the Franchise Agreement, subject to the <br />procedures and amounts designated in the Franchise Agreement. <br /> <br /> (3) If the secudty fund is drawn upon by Grantor in accordance with the <br />procedures established in this Ordinance and the Franchise Agreement, Grantee shall <br />cause the secudty fund to be replenished to the original amount no later than thirty (30) <br />days after receiving wdtten confirmation from the bank where such security fund is <br />deposited that Grantor has made a draw against the security fund. Failure to replenish <br />the secudty fund shall be deemed a material breach of the Franchise. <br /> <br />23 <br /> <br /> <br />