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• Verification of Diversion rate. The first audit, to be performed during 2024, will be based on the Contractor's reports and records for the period of July 1, 2022 through June 30, 2023. Audits will be performed every third year thereafter (the triennial audit). Contractor will reimburse to the City the cost of such audits as shown in the table below: Audit Performed In: Audit Amount 2024 $95,000 2027 $102,000 2030 $110,000 2033* $119,000 2036* $128,000 2039* $138,000 Optional extension term Should the Agreement be extended beyond the extension terms as described in Section 2.5, the audits shall continue every third year, and each additional audit amount shall be increased by ten -thousand dollars ($10,000) per audit period for audits conducted after 2039. Should an audit by the City disclose that Franchise or other fees payable by the Contractor were underpaid by two percent (2%) or more, or that more than 2% of the Customers were inaccurately billed, for the period under review, Contractor shall pay for additional audit costs, if the initial audit findings determine it is necessary to expand the scope of the audit. 8.2.8 Payments and Refunds Should an audit by the City disclose that any of the City fees payable by the Contractor were underpaid or that Customers were overcharged for the period under review, Contractor shall pay to City any underpayment of City fees and/or refund to Contractor's Customers any overcharges within thirty (30) days following the date of the audit. Should an audit disclose that City fees were overpaid, the amount of the over -payment shall be credited to Contractor against future franchise fee payments, with any such credits limited to overpayments for the prior three (3) years. February 11, 2020 60 d032 2 4 City of Santa Ana - DRAFT