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? <br />? <br />E. The Council reserves the right to review the purchase price of any <br />? transferorassignment ofithe-system; and any assignee oF transferee to this.franchise .. .... . <br />expressly agrees that any negotiated sale value which the North Olmsted City Council <br />deems unreasonable wili not be considered in the rate base for any subsequent <br />request for rate increases. Reasonableness of purchase price shall be determined by <br />taking into consideration the original cost of all tangible and intangible property, as well <br />as salvage value, book value, replacement value, cash flow, and other factors. _ <br />F. Notwithstanding anything to the contrary, no consent or approval by the <br />City shall be-required for a transfer or assignment to any person or entity controlling, <br />controlled by or under the same common control as the GRANTEE. <br />SECTION XI: <br />REVOCATION AND NON-RENEWAL OF FRANCHISE <br />A. In addition to all other rights and powers reserved or pertaining to the <br />City, the City reserves as an additional and as a separate and distinct remedy the right <br />to revoke this franchise and all rights and privileges of the GRANTEE hereunder in any <br />of the following events or for any of the following reasons: <br />The GRANTEE by act or omission, violated any material term or <br />condition of this Agreement and shall within (30) days following <br />written demand by the City to effect such compliance fails to do so <br />or to commence and diligently pursue compliance; or <br />2_ The GRANTEE fails to adequately maintain and upgrade the <br />system as provided under the franchise Agreement; or <br />3. The GRANTEE becomes insolvent, unable or unwilling to pay its <br />' debts, or is adjudged a bankrupt or all or part of the GRANTEE's <br />facilities should be sold under an instrument to secure a debt and <br />are not redeemed by the GRANTEE within thirty (30) days from <br />said sale; or <br />4. The GRANTEE fails to restore service following ninety-six (96) <br />consecutive hours of interrupted service, except when approval of <br />such interruption is obtained from the City; or <br />5. The GRANTEE attempts to or does practice any fraud or deceit in <br />its conduct or relation vrith the City under this franchise. <br />1) ,