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• Annual payment of $5,400 for rriainterancE. B. The CONTRACTOR shall invoice for recurring charges on an annual basis startingno earlierthan after the fiber has b�BZ� accepted by the CITY. IV. CONDITIONS OF PAYMENT. All services provided by the CONTRACTOR pursuant to this Agreement shall be performedtothe satisfactionofthe CITY, as determinedatthe solediscretionof its authorized representative, and in accord with all applicable federal, state, and local laws, ordinances, rules and regulations. The CONTRACTOR shall not receivepayment for workfound bythe CITY to he unsatis�actory, or performed in violation of federal, state, or local law, ordinance, rule or regulation. In the event a�wprk found by the CITY to he unsatisfactary,ihe CITY will �rovide CONTRACTOR with written notice describing the work found to he unsatisfactory. CONTRACTOR shall correct the unsatisfactory within thirty (30) days of said notice. V. OWNERSHIP. The CITY shall own the number of fiber strands specified and the hand hole installed for its exclusive use. THE CONTRACTOR shall retain ownership of the cable sheath, the conduit in which the fiher cahle is installed, fiher strands above and beyond installed for the CITY, other hand holes, splice cases or other accoutrements needed to install the fiher cahle. VL TERM OF AGREEMENT. This Agreement shall be effective upon the date that the final required signature is obtained by the CITY and shall remain in effect until all obligations set forth in this Agreementhave been satis�actori�yfu��ed,whicheverfficursfirst. Themaintenance agreementisfora period of ten years from the date the fiber is accepted. ViI. MAINTENANCE RENEWAL. The CONTRACTOR agrees at the CITY's option to extend the maintenanceof the �ber cable for additional t�vvo five yearterms after the end of the first ten yearterm. Maintenance cost for additional terms shall be no higher than the cost identified in the current term adjusted for increases in Mi��neapolisl�t. Paul consumerprice index. The CIT'Y's cost a�the maintenance shall be pro-rated based on percentage fiber count to the total numberofstrands in the fiber cable at the time of renewal. VIIL CANCELLATION. This Agreement may be canceled by the CITY for cause, upon thirty (30) days written notice to the CONTRACTOR after failure by the CONTRACTOR to correct a material breach within 30 days ofwritten notice from the CITY. In the event of such a cancellation, the CONTRACTOR shall be entitledto payment, determinedon a pro rata basis, for work or services satisfactorilyperformed, but shall not be entitled to continuing payments under paragraph �ZI.A, above. I7�, �fT"k" �; �{ `f`H{'FT� ��T�RE�L4Ef�l'I'�77�T. '�1�� IT`Y'S r1u��e�ri�.ad A.�prescr�t�tiv� t'ar tlyc pui�5es �f a�ntinistrRtion �f� tLti� ��ccm�� t17�, C1TY'� ��t�€ ��na�er. �'hc CO1�fRACi'�R'S Authorized Representative for the purposes of administration of this Agreement is the CEO. The CITY'S Authorized Representativeshall have final authority for acceptance of the CONTRACTOR'S services and if such services are accepted as satisfactory, shall so certify on each invoice submitted pursuant to Clause IV. X. AS SIGNMENT. The CONTRACTOR shall neither assign nor transfer any rights or obligations �r�der this Agreement without the prior written consent of the CITY.