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( d) At the expiration of the tenn for which this Franchise is granted, or upon <br />its earlier revocation or termination, as provided for herein, in any such case without <br />renewal, extension or transfer, the City shall have the right to require Grantee to remove, <br />at Grantee's sole expense, all above-ground portions of the Cable System from all Streets <br />and public ways within the City within a reasonable period of time, which shall not be <br />less than one hundred eighty (180) days. <br />( e) Notwithstanding anything to the contrary set forth in this Franchise, the <br />Grantee may, with the consent of the City, abandon any underground Franchise property <br />in place so long as it does not materially interfere with the use of the Street or public <br />rights-of-way in which such property is located or with the use thereof by any public <br />utility or other cable operator. <br />( 4) Extended Operation and Continuity of Services. Upon termination or forfeiture of <br />this Franchise, Grantee shall remove its cable, wires, and appliances from the Streets, alleys, or <br />other public places within the Service Area if the City so requests. Failure by the Grantee to <br />remove its cable, wires, and appliances as referenced herein shall be subject to the requirements <br />of Section 9(3) of this Franchise. <br />(5) Receivership and Foreclosure. The Franchise granted hereunder shall, at the <br />option of City, cease and terminate one hundred twenty (120) days after appointment of a <br />receiver or receivers, or trustee or trustees, to take over and conduct the business of Grantee, <br />whether in a receivership, reorganization, bankruptcy or other action or proceeding, unless such <br />receivership or trusteeship shall have been vacated prior to the expiration of said one hundred <br />twenty (120) days, or unless: (1) such receivers or trustees shall have, within one hundred twenty <br />( 120) days after their election or appointment, fully complied with all the terms and provisions of <br />this Franchise granted pursuant hereto, and the receivers or trustees within said one hundred <br />twenty (120) days shall have remedied all the defaults and violations under this Franchise or <br />provided a plan for the remedy of such defaults and violations which is satisfactory to the City; <br />and (2) such receivers or trustees shall, within said one hundred twenty (120) days, execute an <br />agreement duly approved by the court having jurisdiction in the premises, whereby such <br />receivers or trustees assume and agree to be bound by each and every term, provision and <br />limitation of this Franchise. <br />(6) Performance Bond. Within thirty (30) days of Grantee's execution of this <br />Franchise Grantee shall provide City with a $500,000 Performance Bond in a form and with such <br />sureties as are mutually acceptable to the Parties. The Performance Bond shall be in the amount <br />of $500,000 to be reduced to $300,000 twenty-four (24) months from the Effective Date and <br />reduced further to $100,000 upon completion of the System extension obligations set forth in <br />Section 3 of this Franchise which the parties anticipate to be completed thirty-six (36) months <br />from the Effective Date of the Franchise. The Performance Bond shall ensure compliance with <br />all infrastructure requirements of the Franchise. If additional construction is undertaken in the <br />City, Grantee shall comply with Applicable Law regarding any bonding requirements. <br />(7) Procedure for Enforcing Franchise. In the event City believes that Grantee has <br />breached or violated any provision of this Franchise, City shall act in accordance with Section <br />9(1) (c-f). <br />171 276v2 24 <br />102