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exceed one hundred and twenty thousand nine hundred and thirty dollars <br />($120,930.00). City shall pay RCN fifty thousand dollars ($50,000.00), as an initial I- <br />NET payment. City shall then pay the remaining balance to RCN for the I-NET as a <br />credit against franchise fees owed, pursuant to Section 3.2 of the Franchise <br />Agreement. At the end of the initial 11-year term of the franchise agreement, the City <br />shall pay the remaining balance, if any, to RCN. At its sole discretion, the City may <br />choose to pay an additional payment to RCN for the I-NET at any time. <br /> <br /> City shall pay the initial fifty thousand dollars ($50,000) I-NET payment upon <br />RCN connecting three (3) City I-NET facilities to the satisfaction of the City Manager or <br />his designated agent. City shall not pay any interest on the outstanding balance of the <br />I-NET cost. <br />Section 3. Notice. <br /> <br /> Written notices required or convenient hereunder shall be delivered personally or <br />by depositing the same with the United States Postal Service, first class (or equivalent) <br />postage prepaid and addressed, in the case of RCN to: <br /> <br /> RCN Telecom ~Services Inc. <br /> <br />and in the case of City, to: <br /> <br /> Finance Director <br /> City of Redwood City <br /> 1017 Middlefield Road <br /> P. O. Box 391 <br /> Redwood City, CA 94063 <br /> <br /> Section 4. Paragraph Headinqs. <br /> <br /> <br />