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SECTIC2. Franchise Fee. • It is agreed by the City and Company that the City may at any time during the term hereof impose on the Company, as full compensation for the rights hereby granted, a franchise fee of not more than four percent (4%) of the Company's gross operating revenues, as hereinafter defined, such fee to be payable not later than April 1, of each year and to be based upon the gross operating revenues of the Company for the preceding calendar year or the part thereof after such fee becomes effective. Such fee shall be imposed by ordinance duly adopted by the Council and shall not become effective until at least sixty (60) days after written notice has been served upon the Company by registered mail. The percent fee may be changed by the Council by ordiance from time to time, however, each change shall meet the above notice require- ments and the percent imposed must remain firm for at least one (1) year, and the total fee shall not exceed four percent (4%) . Such ordinance shall not prevent the Company from adjusting its charges in such manner as it deems appropriate for the purpose of reimbursing the Company for the payments to be made to the City, and the Company may indicate on its bills the customers' portion of said fees. Such fee shall not exceed any amount which the Company may legally recover prior to the payment to the City by imposing a surcharge equivalent to such fee in its rates for electrical service to customers within the City. The term "gross operating revenues" means all sums, excluding said surcharge, received by the Company fran the sale of electricity within the corporate limits of the City. The foregoing time and manner of collect- ing said surcharge is subject to the approval of the Minnesota Public Service Commission which the Company agrees to use its best efforts to obtain. SECTION 13. Change in Form of Government. Any change of the form of government of the City of Roseville authorized by the State of Minnesota shall not affect the validity of this franchise. Any municipal corporation succeeding the City shall, without the consent of the Company, succeed to all the rights and obligations of the City provided in this franchise. SECTION 14. Vacation of Public Ways. Except where required solely for a City improvement project, the vacation of any street,alley, public way or public ground, after the in- stallation of electrical facilities, shall not operate to deprive the Company of its rights to operate and maintain such electrical facilities, until the reasonable cost of relocating the same and the loss and expense resulting from such relocation are first paid to the Company. SECTION 15. Written Acceptance. The Company shall, if it accepts this ordinance and the rights and obligations hereby granted, file a written acceptance of the rights hereby granted with the City Clerk within ninety (90) days after the passage of this ordinance. SECTION 16. Encumbrances. No encumbrance upon the property of the Company shall extend to the franchise right granted by this ordinance other than a lien encumbering all property of the Company. -6-