The city may, upon seven days’ advance notice, inspect the books and records of the franchisee during normal business hours, for the purpose of ascertaining the actual gross revenues collected by a franchisee for the previous year. In the event that such audit discloses a discrepancy of more than 10 percent between the financial report submitted by the franchisee with a quarterly payment and the actual quarterly gross revenues collected by the franchisee, the franchisee agrees to pay to the city the costs of such audit. In the event that such audit results in a determination that additional franchise fees are due the city, interest shall be charged at the maximum legal rate or 12 percent, whichever is greater, from the date on which such additional franchise fees were due and payable. The city agrees to close the audit within six months. (Ord. 1708 § 1, 1997).