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CITY OF N0'.TH OLMSTED -ORDINANCE N0. 80-29 PAGE 10 (c) In the event that any payment the applicable date fixed in Subsections shall be subject to the penalty provided is not made on or before (a) and (b) hereof, Grantee for in Section 37 (e). (d) The City shall have the right to inspect the Grantee's records showing the gross revenues from which its franchise pay- ments are computed. The right of audit and recomputation of any and all amounts paid under this franchise shall be always accorded to the City. No acceptance of any payment by the City shall be construed as a release of or an accord or satisfaction of any claim the City might have for further or additional sums payable under the terms of this Ordinance or for any other performance or obligation of Grantee hereunder. (e) Payments of compensation made by the Grantee to the City pursuant to the provisions of this Ordinance shall be considered in addition to and exclusive of any and all taxes, business license fees, or other levies or assessments which are now or which may hereafter be authorized by the laws of the United States, the State of Ohio, or the City. SECTION 16: RATES (a) Initial Rates to Subscribers: The Grantee may establish initial rates for its services in accordance with the rates contained in Grantee's applica- tion for this franchise. (b) Rate Change Procedure: (1) The rates as specified in Subsection (a) shall be in effect for a minimum period of two (2) years from the date of providing initial service. (2) The Grantee may establish rates for service from time to time thereafter by filing with the Clerk of Council a schedule of rates proposed and by notifying its subscribers in writing at least sixty (60) days prior to implementation of the rate change. (3) The City Council shall have the right to determine whether or not it shall assume rate regulation authority when it convenes at each of its triannual review sessions through- out the franchise period, authorized pursuant to Section 24, or in the alternative when the Grantee achieves sixty percent (60%) penetration of its potential subscribers. If Council declines rate regulation authority, then rates may be modi- fied by the Grantee as specified in Subsection (2) above. If the Council assumes rate modification authority, then for the next three (3) years rates shall be subject to modifica- tion only by the Council and only in accordance with the following procedures: (A) The Council shall have the authority to re- view the following rates, fees and charges: (i) Rates for the provision of basic service to subscribers, whether residential or commercial; (ii) Rates for the connection, installation and reinstatement (including converters) of basic service, whether residential or commercial; and (iii) Rates for installation, connection and reinstatement of basic service where unusual cir- cumstances exist such as remote or inaccessible subscriber locations or subscriber request for underground service drops.