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c. Upon abandonment of any Franchise property in place,the Grantee, if <br /> required by the City, shall submit to City a bill of sale and/or other an <br /> instrument, satisfactory in form and content to the City, transferring to the <br /> City the ownership of the Franchise property abandoned. <br /> d. At the expiration of the term for which this Franchise is granted, or <br /> upon its earlier revocation or termination, as provided for herein, in any such <br /> case without renewal, extension or transfer,the City shall have the right to <br /> require Grantee to remove, at Grantee's sole expense, all above-ground <br /> portions of the Cable System from all Streets and public ways within the City <br /> within a reasonable period of time, which shall not be less than one hundred <br /> 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 <br /> Franchise property in place so long as it does not materially interfere with <br /> the use of the Street or public rights-of-way in which such property is <br /> located or with the use thereof by any public 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, <br /> alleys, or other public places within the Service Area if the City so requests. Failure by <br /> the Grantee to remove its cable, wires, and appliances as referenced herein shall be <br /> subject to the requirements 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 <br /> of a receiver or receivers, or trustee or trustees,to take over and conduct the business <br /> of Grantee, whether in a receivership, reorganization, bankruptcy or other action or <br /> proceeding, unless such receivership or trusteeship shall have been vacated prior to the <br /> expiration of said one hundred twenty (120) days, or unless: (1)such receivers or <br /> trustees shall have, within one hundred twenty (120) days after their election or <br /> appointment, fully complied with all the terms and provisions of this Franchise granted <br /> pursuant hereto, and the receivers or trustees within said one hundred twenty (120) <br /> 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 <br /> the City; and (2) such receivers or trustees shall,within said one hundred twenty (120) <br /> days, execute an agreement duly approved by the court having jurisdiction in the <br /> premises, whereby such receivers or trustees assume and agree to be bound by each <br /> and every term,provision and 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$100,000 Performance Bond in a form and <br /> with such sureties as are mutually acceptable to the Parties. The Performance Bond <br /> shall be eliminated 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) <br /> months from the Effective Date of the Franchise. The Performance Bond shall ensure <br /> 28 <br /> 232860v1 <br />