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<br />(2) Such assignee, receiver or trustee has fully complied with the terms and <br />conditions of this article and the franchise agreement and has executed an <br />agreement, approved by a court having jurisdiction, assuming and agreeing <br />to be bound by the terms and conditions of this article and the franchise <br />agreement. <br /> <br />(d) In the event of foreclosure or other judicial sale of any of the facilities, equipment or <br />property of a franchisee, the City may revoke the franchise, following a public hearing before the <br />City Commission, by serving notice upon the franchise and the successful bidder at the sale, in <br />which event the franchise and all rights and privileges of the franchise will be revoked and will <br />terminate 30 calendar days after serving such notice, unless: <br /> <br />(1) The City has approved the transfer of the franchise to the successful bidder; <br />and <br /> <br />(2) The successful bidder has covenanted and agreed with the City to assume and <br />be bound by the terms and conditions of the franchise agreement and this <br />article. <br /> <br />(e) If the City revokes a franchise, or if for any other reason a franchisee abandons, <br />terminates or fails to operate or maintain service to its subscribers for a period of six (6) months, the <br />following procedures and rights are effective: <br /> <br />(1) The City may require the former franchisee to remove its facilities and <br />equipment at the former franchisee's expense. If the former franchisee fails <br />to do so within a reasonable period of time, the City may have the removal <br />done at the former franchisee's and/or surety's expense. <br /> <br />(2) The City, by resolution of the City Commission, may acquire ownership, or <br />effect a transfer, of the cable system at an equitable price. <br /> <br />(3) If a cable system is abandoned by a franchisee, the City may sell, assign or <br />transfer all or part of the assets of the system. <br /> <br />(f) Where the City has issued a franchise specifically conditioned in the franchise agreement <br />upon the completion of construction, system upgrade or other specific obligation by a specified date, <br />failure of the franchisee to complete such construction or upgrade, will result in the automatic <br />forfeiture of the franchise without further action by the City where it is so provided in the franchise <br />agreement, unless the City, at its discretion and for good cause demonstrated by the franchisee, <br />grants an extension of time. <br /> <br />(g) No franchisee will construct or activate a system upgrade in any community served by <br />the same system prior to activating the upgrade for all subscribers within the City, without prior <br />authorization from the City. <br /> <br />Cable Ordinance <br /> <br />-38- <br />