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1. All false alarm related fee collections from any payment method, including but not limited to <br /> bank lockbox and online credit card, shall be deposited, as soon as practical, in a False <br /> Alarm Bank Account ("False Alarm Account") to be established at a mutually agreeable <br /> Commercial Bank; <br /> 2. CITY and CONTRACTOR agree to maintain a positive balance of$100 ("Minimum <br /> Balance") at all times in the False Alarm Account; <br /> 3. At the beginning of each month, CONTRACTOR will reconcile the alarm related deposits for <br /> the most recent completed month and report the same to CITY. Upon CITY's approval, CITY <br /> and CONTRACTOR shall authorize and cause the issuance of electronic (ACH) transfers to <br /> CITY and to CONTRACTOR as follows: <br /> a. With regard to the transfer to CONTRACTOR, the amount will be calculated for <br /> CONTRACTOR based on the Revenue Share described above. That amount, <br /> not to exceed 15% of the revenue collected during the preceding month, shall be <br /> transferred to a bank and account authorized by CONTRACTOR; and, <br /> b. The remaining balance of the revenue collected during the preceding month of <br /> no less than 85%, shall be transferred to a bank and CITY account specified by <br /> CITY. <br /> c. A remittance advice will be provided to the CITY when the ACH transfer is <br /> initiated with the bank. <br /> 4. At the termination of this Contract, any remaining balance shall be transferred to <br /> CONTRACTOR and to CITY on the same prorata basis, e.g. 15% and 85% respectively. <br /> 5. In addition, Contractor will continue to collect payments from the lockbox and record such <br /> payments for the CITY on an Excel spreadsheet which will be provided to the CITY on a <br /> weekly basis for 90 days. At the end of each month, for the 90-day period, Contractor will <br /> reconcile the bank statement and spreadsheet of payments after termination date and <br /> Contractor shall share those payments collected in the lockbox with the CITY and be <br /> compensated at 15% for those 90 days of payments collected after termination date. <br /> B.3.1 Delinquent Account Terms <br /> The parties shall define a mutually agreeable process and methods for collecting amounts due <br /> from delinquent accounts. If organizations other than the CITY and CONTRACTOR are retained <br /> to collect overdue amounts, the parties agree that the collection costs shall to the extent <br /> permitted by State of Washington law be added to the delinquent amounts owed by alarm <br /> system users or be borne by the parties on a pro-rata basis by deducting the third party <br /> collection fees from the gross third party collections before the revenue shares are calculated. <br /> B.3.2 The CITY Payment Upon Early Termination (Per Paragraph 17C) <br /> If, within the initial two (2) years of the effective date, this Contract is terminated by the <br /> CUSTOMER for convenience under 17A, or is terminated by CONTRACTOR for cause as <br /> defined in Paragraph 17B, CONTRACTOR shall be due a one-time Program Termination fee, <br /> not to exceed $24,000 to reimburse CONTRACTOR for startup costs. This fee shall be in <br /> addition to any other amounts due CONTRACTOR under the Contract. The $24,000 shall be <br /> amortized (reduced) on a straight-line basis $1,000 over the initial two-year period. <br /> Page 18 of 27 False Alarm Management Services <br /> Contract Agreement <br />