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<br />(e) Late Fees. If LCWSD is late in the payment of any charge or fee due and <br />payable to Paris under this Agreement, late payments shall bear per annum <br />interest at a rate equal to the lesser of two percentage points (2%) above the <br />Prime Interest Rate as published in the Wall Street Journal on the day said <br />statement becomes delinquent, or the maximum allowed by law to be charged <br />to LCWSD. If any charges remain unpaid at the expiration of thirty (30) days <br />after receipt of the statement, LCWSD shall be in default under this <br />Agreement, and Paris may invoke the remedies specified herein. <br /> <br />3.4 BILLING QUESTIONS AND DISPUTES. <br /> <br />(a) Statement Dispute; Protest. If LCWSD has a protest or dispute concerning a <br />statement, LCWSD shall notify Paris in writing within twenty (20) days of <br />receipt of said statement. LCWSD shall pay the portion of the statement that <br />is not being disputed or protested. Upon written notification, the portion of <br />the statement under dispute or protest (provided the dispute or protest is made <br />in good faith and is not unreasonable) will be set aside until resolved and will <br />not be subject to the penalties (such as Late Fess and Excess Demand Charge) <br />stated herein. If Paris is not notified in writing, postmarked within twenty <br />(20) days of receipt of said statement, said protest or dispute shall be <br />considered waived. <br /> <br />(1) The Parties will negotiate in good faith to resolve the dispute. The <br />Parties shall agree to submit the dispute to non-binding mediation as <br />provided in Article 10.1. <br /> <br />(b) Inspection and Audit. Complete records and accounts, required to be <br />maintained by each Party, shall be kept for a period of five (5) years. Each <br />Party shall at all times, upon notice, have the right at reasonable times to <br />examine and inspect said records and accounts during normal business hours. <br />If required by any law, rule or regulation, a Party shall make said records and <br />accounts available to federal and/or state auditors. <br /> <br />3.5 RATE CASE EXPENSES. LCWSD and Paris recognize and agree that Paris has <br />entered and may enter into other wholesale water supply agreements with other <br />customers, including other cities, water districts, and retail public utilities. LCWSD and <br />Paris agree that if any legal or administrative proceeding is hereafter instituted by <br />LCWSD or any other wholesale water customer of Paris that in any way relates to the <br />rates, the methodology set forth in the Water Rate Study or the methodology or rate <br />model used in performing the Cost of Service Study to establish rates, or terms related to <br />water supply service provided by Paris, the reasonable expenses incurred by Paris in <br />participating in such proceedings shall be deemed to be expenses borne by Paris that are <br />incurred for the benefit of, and are solely attributable to, the Wholesale Customer Class <br />of Paris and are not incurred for the benefit of, or attributable to, Paris' retail customers. <br />Accordingly, all such reasonable expenses of Paris shall be included in the operation and <br />maintenance expenses of Paris in setting rates for the Wholesale Customer Class, subject <br /> <br />15 Paris/LCWSD Wholesale Treated Water Contract <br /> <br />r'- <br />