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Subsequently, in early 1996, the parties entered into the MOU whereby, unlike various memoranda of understanding entered into by the Company with certain other local franchising authorities, the Company and the North Metro Commission and Member Cities specifically agreed to operating and capital - ----Bxpenditu res JorJ?EG-programmingsupportJnJuILsatisfaction ofHEG.and any______ related programming obligations upon renewal. The MOU memorialized the Company's commitment to provide PEG programming funding. It also provided the structure and process whereby the Company would transfer all PEG programming equipment and assets, as well as responsibility for PEG programming, to the Commission or its designee. As you know, this transfer of responsibility was completed in 1997. Section 1 of the MOU begins by defining the term of the agreement. It states: Meredith shall remain, for the remainder of the current Franchise and any subsequent renewed franchise period [the sum total of which shall not to exceed fifteen (15) years without mutual agreement of both parties] responsible and obligated for the provision and funding of PEG access programming which Meredith is providing at the effective date of this Memorandum, except as set for the in Section 2 below, and further subject to the following terms and conditions: In this provision, the parties specifically agreed to terms that would be part of the renewal. The MOU specifically includes an expiration date of this agreement of January 26,2011, unless the parties mutually agree to a different date. The terms and conditions of the Company's PEG funding obligations are set forth in Paragraphs A through 0 of Section 1 of the MOU. They include the following: · The Company was to collect $1.50 per month, per subscriber for the recovery of expenses in providing PEG programming ("PEG Fee"). At such time as the Commission was transferred the responsibility for PEG programming, the PEG Fee was to be collected and passed on to the Commission. · The PEG Fee could be increased annually by an amount no greater than $.25. The document establishes a cap of $2.25 in 1998, with'increases limited to CPI thereafter. · Meredith agreed to provide PEG funding of a total of $300,000 in two installments of $150,000 each in January of 1996 and January of 1997. The MOU states that this funding is "for and in lieu of all PEG Programming capital, replacement, and other equipment obligations during the current Franchise, and for any subsequent renewal. . . .n P.2