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Franchise would endanger the health, safety and welfare of any person or <br />the public. <br />3. Abandonment of Service. Grantee may not abandon the System or any portion <br />thereof without having first given three (3) months written notice to City. Grantee <br />may not abandon the System or any portion thereof without compensating City for <br />damages resulting from the abandonment, including all costs incident to removal <br />of the System. <br />4. Removal After Abandonment. Termination or Forfeiture. <br />a. In the event of termination or forfeiture of the Franchise or abandonment <br />of the System, City shall have the right to require Grantee to remove all or <br />any portion of the System from all Rights -of -Way and public property <br />within City. <br />b. If Grantee has failed to commence removal of System, or such part thereof <br />as was designated by City, within thirty (30) days after written notice of <br />City's demand for removal is given, or if Grantee has failed to complete <br />such removal within twelve (12) months after written notice of City's <br />demand for removal is given, City shall have the right to apply funds <br />secured by the Letter of Credit and Performance Bond toward removal <br />and/or declare all right, title, and interest to the System to be in City with <br />all rights of ownership including, but not limited to, the right to operate the <br />System or transfer the System to another for operation by it. <br />5. Sale or Transfer of Franchise. <br />a. No sale or transfer of the Franchise, or sale, transfer, or fundamental <br />corporate change of or in Grantee, including, but not limited to, a <br />fundamental corporate change in Grantee's parent corporation or any entity <br />having a controlling interest in Grantee, the sale of a controlling interest in <br />the Grantee's assets, a merger including the merger of a subsidiary and <br />parent entity, consolidation, or the creation of a subsidiary or affiliate <br />entity, shall take place until a written request has been filed with City <br />requesting approval of the sale, transfer, or corporate change and such <br />approval has been granted, provided, however, that said approval shall not <br />be required where Grantee grants a security interest in its Franchise and/or <br />assets to secure an indebtedness. <br />b. Any sale, transfer. exchange or assignment of stock in Grantee. or <br />Grantee's parent corporation or any other entity having a controlling <br />interest in Grantee. so as to create a new controlling interest therein shall <br />be subject to the requirements of this Section 5. The term "controlling <br />interest" as used herein is not limited to majority stock ownership. but <br />Page 43 <br />