Laserfiche WebLink
SECTION 5. BONDS <br />Group W must maintain with the City a bond conditioned upon the faith- <br />ful performance by Group W of the franchise, and further conditioned upon the <br />terms and requirements of this section. <br />ARTICLE IX. DEFAULT <br />SECTION 1. NOTICE AND DEFAULT <br />City shall notify Group W in writing of violations of the franchise. <br />Group W shall have thirty days to cure such default, or be subject to the proce- <br />dures of this section leading to termination of the franchise. <br />SECTION 2. CROSS DEFAULT <br />If Group W is in default of any of the franchises of the cities of <br />Arden Hills, Falcon Heights, Lauderdale, Little Canada, Mounds View, New <br />Brighton, North Oaks, Roseville, St. Anthony and Shoreview, Minnesota, any one <br />of those cities may declare Group W in default of all ten franchises. <br />ARTICLE X FORECLOSURE, RECEIVERSHIP AND ABANDONMENT <br />SECTION 1. FORECLOSURE <br />Upon the foreclosure or judicial sale of the System, the provisions of <br />the franchise governing consent to transfer or change in ownership shall apply. <br />SECTION 2. RECEIVERSHIP <br />City shall have the right to cancel the franchise 120 days after the <br />appointment of a receiver or trustee. <br />SECTION 3. ABANDONMENT <br />Group W may not abandon any portion of the System. Any such abandon- <br />ment may be deemed a cause for termination of the franchise. <br />ARTICTR XI. PURCHASE OF THE SYSTEM <br />SECTION 1. GENERAL <br />The Section provides for the City's right to purchase a system, either <br />pursuant to the terms and conditions of a bona fide purchase offer which Group W <br />is willing to accept regarding the system, or in the event of forfeiture, revo- <br />cation or termination of the franchise. <br />-7- <br />10 <br />