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failure to approve the rate increase, appoint one arbitrator each who is experienced ana knowledgable in the evaluation and analysis of cable rate and charge changes. Arbitrators shall each agree upon the selection of a third arbitrator similarily qualified, within 15 days after appointment of the second arbitrator. ( (b) Within 15 days after appointment of aU arbitrators and upon 10 days written notice to parties, the arbitrators shall commence a hearing on the rate change proposed by Grantee. (c) The hearing shall be recorded and may be transcribed at the request and expense of either party. All hearing proceedings, debates, and deliberations shall be open to the public, City, and Grantee and at such times and places as contained in the notice or as thereafter publicly stated in the order to adjourn. (d) The arbitration panel shall be required to approve, reject, or modify the rate change proposed by Grantee according to the standards established in this Franchise. (e) At the close of the hearings and within 30 days, the arbitrators shall prepare written findings and make a written decision agreed upon by a majority of the arbitrators which shall be served by mail upon City and Grantee. (f) The decision of a majority of the arbitrators shall be binding upon both parties, provided that either party may pursue any judicial remedies otherwise available to either party! (g) Should the rate change be rejected or modified by a majority of the arbitrators, the Grantee shall within ninety(90) days and pursuant to procedures established by Grantee refund the rate overage to affected subscribers. l (h) Either party may also seek judicial relief to the exten authorized under Minnesota Statutes, Section 572.09 and Section 572.19 as the same may be amended, and in addition, under the following circumstances: - 38 -