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15) Term and Termination. This contract will be effective for a three (3) year period <br />from the effective date and may be renewed for a single one (1) year term thereafter, <br />upon the mutual written agreement of the parties. City may cancel this contract <br />immediately for a material breach of contract by providing Towing Companies with <br />written notice of termination. City may cancel this contract for convenience by <br />providing Towing Companies with sixty (60) days advance written notice of intent to <br />terminate. Towing Companies may cancel this contract for any reason upon <br />providing City with one hundred twenty (120) days advance written notice. <br />16) Costs. Towing Companies shall submit a rate schedule of the Towing Service <br />charged to vehicle owners with rates valid for the term of this contract. Towing <br />Companies shall accept credit card payments from customers upon request. Rates for <br />abandoned vehicles shall comply with Section 20-29 of the South Bend Municipal <br />Code <br />17) Invalid Tow or Special Circumstances. In the case of an invalid tow, similar <br />instance, or special circumstance where the City elects to pay for the towing and <br />storage of a vehicle, the Towing Companies will bill the City and not require <br />prepayment by the vehicle owner before releasing the vehicle. The maximum <br />chargeable fee will be the current contracted initial tow fee and 5 days of storage. <br />