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4. PAYMENT TERMS <br /> A. In consideration of the rights and privileges granted under this Agreement, the Contractor <br /> shall make payments to the City as follows: <br /> Percentage Payments Per Month Duringthe he Agreement <br /> • 50.00% of billings per month in the first 12 month period <br /> • 50.00% of billings per month in the second 12 month period <br /> • 50.00% of billings per month in the third 12 month period <br /> • 50.00% of billings per month in the fourth 12 month period <br /> • 50.00% of billings per month in the fifth 12 month period <br /> Guaranteed Payments Per Year Duringthe he Agreement <br /> • $ 25,000.00 in the first 12 month period <br /> • $ 25,000.00 in the second 12 month period <br /> • $ 25,000.00 in the third 12 month period <br /> • $ 25,000.00 in the fourth 12 month period <br /> • $ 25,000.00 in the fifth 12 month period <br /> If the total of the payments for any year(12 month period) does not exceed the guaranteed <br /> payment amount, then the Contractor shall pay the City the amount of the difference. <br /> B. The percentage payment shall be based upon the monthly billings by!the Contractor and <br /> not upon monthly receipts. Contractor bears the responsibility for all uncollectible billing, <br /> except in the case of a legally filed bankruptcy. <br /> C. The guaranteed payment and the percentage payment rate shall be appropriately adjusted, <br /> by mutual consent of the parties, in the event that the City eliminates buses or adds buses to <br /> its fleet. <br /> D. The Contractor shall furnish the City each month a copy of the clientlbilling and at the <br /> same time shall remit to the City the percentage payment for that month,1or the guaranteed <br /> payment for the year(12 month period), as specified above. <br /> 5. OBLIGATIONS OF CONTRACTOR <br /> A. The City hereby grants to the Contractor the exclusive right and privilege to solicit, sell, <br /> and display advertising on the interior and exterior of buses operated by the City. The <br /> Contractor shall operate to maximize the revenue generated from such advertising. The <br /> Contractor shall provide this service in accordance with this Agreement. <br /> B. Advertising displayed under the terms of this Agreement shall be of reputable character, <br /> shall conform to recognized business standards, shall not be found to be Objectionable, and <br /> shall not conflict with the laws or regulations of the United States of America, the State of <br /> Illinois, or the City of Decatur. <br /> -2 - <br />