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: Section 10 (3) Grantee shall not Section 10 (C)---Grantee shall not abandon No such provision. abandon the system without three (3) the system without three (3) months' notice, months' notice, must compensate City must compensate City for abandonment. for abandonment. Section 10 (4) City has right to require Section 10 (D) (1) (2)---City has right to No such provision. Grantee to remove its system on require Grantee to remove its system on termination, forfeiture or abandonment termination, forfeiture or abandonment of of franchise. If Grantee fails, City can franchise. If Grantee fails, City can collect collect on Letter of Credit or on Letter of Credit or Perfarmance Bond Performance Bond and the City owns and the City owns the system. the system. Sale or Transfer of Franchise Section 10 (5) No sale or transfer of Section 10 (E) (1)—No sale or transfer of Section 6.1---Grantee needs consent of City franchise or transfer of stock without franchise or transfer of stock without for transfer, defined as 51% owner interest. approval of the Commission. Including approval of the Commission. Including No consent needed for intra-company intra-company transfers or sales, except intra-company transfers or sales, except for transfers, including to secure indebtedness. for indebtedness. indebtedness. Section 10 (5) Defines controlling Section 10 (E) (2)---Defines controlling No such provision. interest as warking control, to include interest as warking control, to include fifteen percent (15%) ar more by one fifteen percent (15%) or more by one person person and acquisition by one person of and acquisition by one person of five five percent (5%) or more. percent (5%) or more. Section 10 (5) Grantee shall file all Section 10 (E) (3 (a) (b) (c)---Grantee shall No such provision. documents (defined in this section and file all documents (defined in this section Initial Assessment 5-27-14