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<br />9 <br />account for a partial year at the beginning of a Pole License, at the end of the Term or <br />earlier termination of this Master License or a right of abatement or refund expressly <br />granted under this Master License. The adjustment provided in this Section will be <br />effective even if the first License Year was for less than a full calendar year. <br />4.2.3 Due Dates. <br />(a) Licensee shall submit the first License Year’s License Fee with the <br />Acknowledgment Letter without deduction for any reason. <br />(b) The annual License Fee for each subsequent License Year of the <br />Term of each Pole License will be due and payable to the City on January 1 and <br />will be late if the City has not received payment by the due date. As an illustration, <br />and not a limitation, if the Commencement Date for a Pole License falls on July 1, <br />then the License Fee due in the first License Year will be prorated 50% (to <br />account for the six-month difference between January and June) and will be due <br />on the Commencement Date. The full License Fee for the second License Year, <br />and each subsequent year thereafter, will be due on January 1. <br />4.2.4 Discount for Integrated Poles. If the use of Integrated Poles becomes <br />feasible at any time during the Term, Licensee may request that the City amend any Pole <br />License to authorize Licensee to replace one or more licensed City Poles with Integrated <br />Poles, subject to the City’s prior approval of plans, specifications, cost estimates, <br />materials, and completed improvements in accordance with Section 8.1 (Licensee’s <br />Alterations). As an incentive for Licensee to upgrade City Poles to Integrated Poles, <br />beginning in the License Year following the License Year in which the City accepts the <br />Integrated Pole and continuing for the remainder of the Term of each affected Pole <br />License, the City will discount by twenty percent (20%) the annual License Fee for each <br />Integrated Pole that the City has accepted. <br />4.3 Adjustments in License Fee. <br />On January 1 of each year of this Master License (each, an “Adjustment Date”), the <br />License Fee will be increased by three percent (3%). <br />4.4 Late Charge. <br />If Licensee fails to pay any License Fee, Additional Fee, or other amount payable to the <br />City under this Master License within 10 days after the City’s delivery of notice that the same is <br />due and unpaid, such unpaid amounts will be subject to a late charge equal to 6% of the unpaid <br />amounts. For example, if a License Fee in the amount of $40,000 is not paid on its due date and <br />remains unpaid after the 10-day cure period has expired, the late charge would be $2,400. <br />4.5 Default Interest. <br />Any License Fee, Additional Fee, and other amount payable to the City (except late <br />charges), if not paid within 10 days after the due date, will bear interest from the due date until <br />paid at the default rate of 10% per year. Payment of default interest and the applicable late <br />charge alone will not excuse or cure any default by Licensee. <br />4.6 Master License Application Processing Payments. <br />Licensee shall deposit funds with the City to cover the City’s ordinary processing and <br />other administrative costs related to the Master License application. Such funds shall <br />compensate the City for all of the reasonable and actual costs of processing the Master License <br />application, including, but not limited to, all time and materials costs of City employees, agents, <br />consultants, and the City Attorney’s office. <br />4.6.1 Initial Payment. Licensee shall deposit with the City an initial payment in <br />the amount of $4,000 upon delivery of a partially executed counterpart of this Master