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within which to cure the same, and Grantee fails to commence <br /> to cure the same, within said thirty ( 30 ) day period and <br /> thereafter fails to use reasonable diligence, in City' s <br /> reasonable opinion, to cure such default as soon as possible, <br /> then and in any event, such default shall be a substantial <br /> breach of this Franchise and City, at its option may elect to <br /> either cure the default or terminate and cancel this <br /> Franchise and all rights and privileges of this Franchise as <br /> follows : <br /> ( 1 ) City may cure any default and all sums expended by City, <br /> including attorneys ' fees incurred in curing such <br /> default, whether suit be brought or not, with interest <br /> thereon at rate per annum of two percent ( 2% ) in excess <br /> of the then Prime Rate, shall be paid by Grantee to <br /> City, upon demand, and failure to so pay upon demand <br /> likewise may be deemed by City to be a default under <br /> this Franchise. <br /> ( 2 ) City may place the issue of revocation and termination <br /> of the Franchise before the Council at a regular or <br /> special meeting of the City Council . If City decides <br /> there is cause or reason to terminate, the following <br /> procedure shall be followed: <br /> (a ) City shall provide Grantee with a written notice of <br /> City' s intention to terminate the Franchise and the <br /> reason or cause for proposed termination . City <br /> shall allow Grantee a minimum of thirty ( 30 ) days <br /> subsequent to receipt of the notice in which to <br /> correct the default . <br /> 49 <br />