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agreement will name the City as an additional insured up to the amounts required by City's ordinance. SECTION 12. NON - EXCLUSIVE FRANCHISE. The rights, privileges, and franchises granted by this ordinance are not to be considered exclusive, and City hereby expressly reserves the right to grant, at any time, like privileges, rights, and franchises as it may see fit to any other person or corporation for the purpose of transporting, delivering, distributing, or selling gas to and for City and the inhabitants thereof. SECTION 13. PAYMENTS TO CITY. A. In consideration of the privilege and license granted by City to Company to use and occupy the Public Rights -of -Way in the City for the conduct of its business, Company, its successors and assigns, agrees to pay and City agrees to accept, such franchise fees in the amount and manner described herein. Except as provided for in Section 13.B., such payments shall be made on a quarterly basis, on or before the 15th day of February, 2016, and on or before the 15th day of February, May, August, and November during the term of this franchise. The last payment under the initial term being made on the 15th day of November, 2020. The franchise fee shall be a sum of money that shall be equivalent to five percent (5 %) of the quarterly Gross Revenues, as defined in Section 2 above, received by Company during the preceding calendar quarter. B. The franchise fee amounts based on "Contributions in Aid of Construction" ( "CIAC ") shall be calculated on an annual calendar year basis, i.e., from January 1 through December 31 of each calendar year. The franchise fee amounts that are due based on CIAC shall be paid at least once annually on or before April 30 each year based on the total CIAC recorded during the preceding calendar year. The initial CIAC franchise fee payment will be due on or before April 30, 2016, and will be based on CIAC received from January 1, 2015, through December 31, 2015. Unless this Franchise is extended pursuant to Section 1, the final payment of franchise fee amounts based on CIAC will be April 1, 2021, for the calendar year ending December 31, 2020. C. The initial payment for the rights and privileges herein provided shall be for the privilege period Octoberl, 2015 through December 31, 2015, and each succeeding payment shall Page 12 4340964.4