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f <br />Memo to Mayor and Council <br />Page 3 <br />September 13, 1982 <br />SYSTEM OWNERSHIP <br />If the Grantee offers the System' for sale, the City has the <br />right of first refusal - -it may within 60 days of receiving a <br />third parties' bona file purchase offer match that offer and <br />purchase. the System on. the same terms., [Art. XI, Sec <br />1(A)]. { <br />The ' ity also has the ricjht to purchase the System within <br />six months of the a pirat ion., revocation or ' forfeiture of <br />the Franchise on negotiated or arbitrated terms [Art, I , <br />Sec* 21, <br />Upon termination of the Franchise, for , whatever reason , the <br />City has the- right -to require the Grantee to remove all or <br />part of the System f -at. Grantee's expense. If the Grantee <br />f ails to do sa, the City may (1). declare itself the owner of <br />the System and operate it itself or transfer the System to <br />another for operation; or have the System or pant of it <br />removed with removal costs ±ecoverable' from the required,` <br />Letter of Credit, Bond, Insurance or Grantee itself [Art, <br />X11, Sec,,-21, <br />CABLE LOCATION AND RELOCATION <br />The lines, cables and other property are to be located per <br />the City's specifications [Art, VI, Sec. 4 (A) j . Grantee is <br />required to restore ail such public property to pre -- installation <br />conditions, The City has right to charge Grantee the cost <br />of any System installation - required repairs to City property-, <br />The Grantee is required to ' re locate or protect its equipment <br />at its own expense when required by any City public improvements <br />[Art. V, Sec. 4 (E) ]',. <br />There private construction necessitates temporary removal or <br />repositioning of System equipment, same is to be paid for by <br />person requesting same* <br />wMD /gvP <br />