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. or remedies shall not be deemed a waiver of tl1e right to exercise at the same time or thereafter any otl1er right or remedy. 7. Grantee Acknowledgment of Validity of Franchise. Grantee acknowledges that it has had an opportunity to review tl1e terms and conditions of this Franchise and that under current law Grantee believes that said terms and conditions are not umeasonable or arbitrary, and that Grantee believes City has the power to make tl1e terms and conditions contained in this Franchise. SECTION 14. PUBLICATION EFFECTIVE DATE; ACCEPTANCE AND EXHIBITS 1. Publication: Effective Date. This Franchise shall be published in accordance witl1 applicable local and Minnesota law. The Effective Date of this Franchise shall be the date of acceptance by Grantee in accordance with the provisions of Section 14.2. 2. Acceptance. a. Grantee shall accept this Franchise witl1in sixty (60) of its enactment by tl1e . City Council, unless the time for acceptance is extended by City. Such acceptance by the Grantee shall be deemed tl1e grant of tl1is Franchise for all purposes provided, however, this Franchise shall not be effective until all City ordinance adoption procedures are complied witl1 and all applicable timelines have run for the adoption of a City ordinance. In the event acceptance does not take place, or should all ordinance adoption procedures and timelines not be completed, this Franchise and any and all rights granted hereunder to Grantee shall be null and void. b. Upon acceptance of tl1is Franchise, Grantee and City shall be bound by all tl1e terms and conditions contained herein. c. Grantee shall accept this Franchise in the following manner: 1. This Franchise will be properly executed and acknowledged by Grantee and delivered to City. ii. With its acceptance, Grantee shall also deliver any grant payments, performance bond and insurance certificates required herein that have not previously been delivered. . 33 , ---------- - ---..-----