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,:-CITY OF N~:TH OLMSTED " ORDINANCE N0. 80-29 ~ , PAGE 19 of its franchise. At such hearing, the Council shall consider the adequacy of the franchise from the standpoint of the City, the Grantee and the Federal Communications Commission Rules for cable television, and determine the advisability of renewing the Grantee's franchise for a period of ten (10) years. (d) The Council shall hear any interested persons during said meeting and shall determine whether or not the Grantee did reasonably comply with the terms and conditions imposed by this Ordinance and the franchise. (e) If the Council determines that the Grantee's performance has been satisfactory, in accordance with the terms and conditions imposed by this Ordinance and the franchise, the Council may re- new the Grantee's franchise for a period of ten (10) years. The City shall have the right to recoup from the Grantee those dir- ect expenses above normal administrative costs incurred pursuant to renewal of the franchise. (f) If the Council determines that the performance of the Grantee has not been satisfactory, under the terms and conditions imposed by this Ordinance and the franchise, it shall have the right not to renew the franchise. In such event, the City shall have the option on the expiration date of the franchise to select a new grantee after a public proceeding. SECTION 25: REVOCATION OF FRANCHISE (a) In addition to all other rights and powers reserved or pertaining to the City, the City reserves as an additional and as a separate and distinct remedy the right to revoke this franchise and all rights and privileges of the Grantee hereunder in any of the following events or for any of the following reasons: (1) The Grantee shall, by act or omission, violate any material term or condition of this Ordinance and shall with- in thirty (30) days following written demand by the City to effect such compliance fail to do so; or (2) The Grantee fails to begin or complete construc- tion as provided under the franchise and the Grantee's ap- plication as incorporated herein; or (3) Any provision of this Ordinance shall be finally adjudged by a court of law invalid or unenforceable, and the Council of the City further finds that such provision constitutes at that time a consideration material to the continuance of the franchise herein granted; or (4) The Grantee becomes insolvent, unable or unwill- ing to pay its debts, or is adjudged a bankrupt, and the conditions in Section 26 have not been met, or all or part of the Grantee's faciltiies should be sold under an instru- ment to secure a debt and are not redeemed by Grantee with- in thirty (30) days from said sale; or (5) The Grantee fails to restore service following ninety-six (96) consecutive hours of interrupted service, except when approval of such interruption is obtained from the City; or (6) The Grantee attempts to or does practice any fraud or deceit in its conduct or relations with the City under this franchise. (b) No such revocation shall be effective unless or until the Council of the City shall have adopted an ordinance setting forth the cause and reason for the revocation and the effective date thereof, which ordinance shall not be adopted without thirty (30) days prior notice thereof to the Grantee and an opportunity for the Grantee to be heard upon the proposed adoption of said