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4 . 1 If M/A- COM fails to pay , when due , any rental payment , or any other sum payable to County under this Agreement , and if such sum remains unpaid for more than five ( 5 ) days past the due date , M/A-COM shall pay County a late payment charge equal to five ( 5 ) percent of any payment not paid promptly when due . Any amounts not paid promptly when due shall also accrue simple interest of one and one half ( 1 Y2) percent per month or the highest interest rate then allowed by Florida law , whichever is higher , which interest shall be paid by M/A-COM to County . 4 . 2 . On or before the date that the County executes this Agreement , M/A- COM will deposit with County the sum of One Thousand and 00/ 100 Dollars ($ 1 , 000 . 00 ) ( " Security Deposit") as security for the full and faithful performance of this Agreement by M/A-COM . In the event that M/A-COM or M/A-COM ' s agents , employees , or invitees damages the North Tower , or otherwise breaches this Agreement , County shall provide M/A-COM written notice of such failure or damage or breach , setting forth in detail all of the facts and circumstances constituting the determination (the " Notice") . If M/A-COM has not cured any failure within thirty ( 30) days after receipt of written notice from County , provided , however , that it shall not be deemed an Event of Default by M/A- COM if M/A-COM shall commence to cure such failure within such thirty ( 30 ) days and thereafter diligently cures the default within sixty (60 ) days , County may access the Security Deposit upon ten ( 10) days ' prior written notice to M/A-COM , and collect the amount due . M/A-COM shall keep the Security Deposit in place throughout the Lease Term and any renewal of this Agreement . 4 . 3 . The Security Deposit will be segregated by County in an interest bearing account identified for this Agreement . Upon the expiration or termination of this Agreement as provided herein , the Security Deposit , or any balance thereof remaining after County' s rightful set-off against the Security Deposit after a default ( including the grace periods ) , will be returned to M/A-COM with any interest accrued thereon ( less a one percent ( 1 % ) per annum fee to County for management of the account) . 4 . 4 . M/A- COM agrees to pay any and all taxes of any nature whatsoever imposed on the license , sub- license , leasehold interest or otherwise related to , the North Tower, or the Property (as such term is used in the North Tower Lease Agreement) , to the extent applicable under law . 4 . 5 . M/A- COM shall be liable for the prevailing State of Florida Sales and Use Tax imposed on any rent payable to the County on the leasehold estate granted under this Agreement . This Sales and Use Tax shall be payable to the County , which shall remit same less authorized handling deduction to the State of Florida Department of Revenue . ARTICLE 5 - OTHER EXPENSES AND CHARGES 5 . 0 . M/A- COM shall pay for all of the electricity it consumes in its operations hereunder at the North Tower ( including any standby power generator for M /A- COM ' s exclusive use ) . M /A-COM will pay a pro- rata share of the electricity charges based upon a percentage formula using the number of transmitters M/A- COM has out of the total number of transmitters at the North Tower. The frequency of payment of the foregoing electrical payments will be at the County' s discretion , and shall initially be on a biannual basis ; non - 4