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<br />business may from time to time require. <br /> <br />Section 2. <br /> <br />Term and Limits of Permission. This non-exclusive permission granted <br /> <br />by this Ordinance, ifaccepted by the Company, shall be in force and effect for a period offifteen (15) <br /> <br /> <br />years from and after its passage provided, however, by written notice within ninety (90) days prior <br /> <br /> <br />to the fifth and tenth anniversaries hereof, either party may commence negotiations for modification <br /> <br /> <br />of the consideration paid by the Company to the City set forth in Section 3 herein. If new terms <br /> <br /> <br />cannot thereafter be agreed upon, either party may terminate this Ordinance upon an additional ninety <br /> <br />(90) days notice to the other party. The permission granted by this Ordinance covers the following <br /> <br />geographic area: The corporate limits of the City of Sunny Isles Beach as set forth in the Charter of <br /> <br />the City of Sunny Isles Beach, as amended from time to time. Company agrees that the limits of the <br /> <br /> <br />permission are subject to expansion or reduction by annexation and contraction of municipal <br /> <br /> <br />boundaries and that the Company has no vested right in a specific area. The City shall notify the <br /> <br /> <br />Company of any annexation or contraction of municipal boundaries and provide the Company a map <br /> <br /> <br />of the new boundaries in a timely manner. The Company shall take prompt action to implement <br /> <br /> <br />computations and corresponding payments to reflect annexation or contraction and notify the City <br /> <br /> <br />of effective date of same. <br /> <br /> <br />Section 3. Permission Fee Pavrnents. In consideration of the rights and privileges <br /> <br /> <br />herein granted, and to defray the cost of regulating the Company's activities under this permission, <br /> <br /> <br />the Company shall pay to the City annually a sum equal to one percent (1 % ) of the gross receipts <br /> <br /> <br />of the Company on recurring local service revenues for services provided within the corporate limits <br /> <br /> <br />of the City by the Company. Included within such one percent (1 %) maximum fee or consideration <br /> <br /> <br />are all taxes, licenses. fees, and other impositions (except ad valorem taxes and amounts for <br /> <br />0RD9S-11 <br /> <br />-2- <br />