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deducted from the amount of revenue received by CONTRACTOR shall not be deducted from gross advertising revenues. The gross revenues shall include any amount, the equivalent of which CONTRACTOR, a subsidiary or affiliate of CONTRACTOR, or a third party may have received from the advertiser in the form of materials, services, or other benefits, tangible or intangible. All agreements made by CONTRACTOR in connection with the display of advertising material on or in said buses shall provide that the U.S. Department of Transportation, the Comptroller General, COUNTY, or SRA shall have access to the books of account and records of all parties to such agreements for the purpose of ascertaining the correctness of gross advertising revenues. 2.03 CONTRACTOR agrees to use its best efforts to obtain the fair market value for the display of all advertising material. 2.04 CONTRACTOR agrees to include in all its contracts for the display of advertising material a standard provision requiring that should CONTRACTOR be held in default under this agreement, CONTRACTOR shall assign and transfer to the successor contractor all applicable contracts for advertising on GoLine/Community Coach items (i.e., buses- (internal and external)), and such contracts shall thereupon become the property of the successor contractor. 2.05 Compensation shall be sent to COUNTY monthly within fifteen (15) days after the end of the month except in the case of the last payment when compensation shall be paid within thirty (30) days after the termination, cancellation or expiration of this Amended Agreement 6eRtFast. Each payment shall be based on the gross receipts for the month immediately preceding the date of payment,which will include the percentage of gross advertising revenue plus the minimum payment as identified in 2.01. 2.06 Payments of compensation made by CONTRACTOR to COUNTY pursuant to the provisions of this Amended Agreement shall not be considered in any manner to be in the nature of a tax, but shall be in addition to all taxes of whatsoever kind or description which are now or which may thereafter be required to be paid by any ordinance or local law of Indian River County or any Municipality or City within COUNTY, or any law of the State of Florida or any law of the Federal Government of the United States. Payment of compensation shall be in addition to any permit fees required by law. 2.07 In the event CONTRACTOR fails to pay any of the monies required to be paid under this Amended Agreement within thirty (30) days after same shall become due, interest at the rate of 1.5% per month, or eighteen percent(18%) per annum, shall accrue against the delinquent payment(s) from due date until same are paid. Implementation of this provision shall not. !i preclude COUNTY from terminating this Amended Agreement for default for nonpayment, or from enforcing any other provisions contained herein. 2.08 In the event a bus with non-removable exterior advertising is out-of-service for a period �I of ten (10) continuous operating days or longer, CONTRACTOR will be notified in writing before the 12th day and the monthly fee shall be reduced proportional to the number of service days in which the bus was not operational. In the event a reduction is due in the last month of the contract, COUNTY will issue a refund. 3. REPORTING REQUIREMENTS 11 F:\Attomey\Bill\Senior Resource Association(SRA)\Transit Advertising Contract clean 2015.docx 56