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k? <br />?WdB? <br />SECTION X!!: <br />FORECLOSURE/DEFAULT <br />Upon the foreclosure, default or otherjudicial sale of all or substantial part of the <br />system, or upon the termination of any lease covering all or a substantial part of the <br />system, the GRANTEE shall immediately notify the City of such fact, and such _ <br />notification shall be treated as a notification that a change in control of the GRANTEE <br />has taken place, and the provisions of Section XIII of this Agreement governing the <br />consent of the Council to such change in control of the GRANTEE shall apply. <br />SECTION XIII: <br />RECEIVERSHIP <br />The Council shall have the right to cancel this franchise one hundred and <br />tweniy days after the appointment of a receiver or trustee to take over and <br />conduct the business of the GRANTEE, whether in receivership, reorganization, <br />bankruptcy, or other action or proceeding, unless such receivership or trusteeship shall <br />have been vacated prior to the expiration of said one hundred and twenty (120) day or <br />unless: <br />A. Within one hundred and twenty (120) days after appointment, such <br />receiver or trustee shall have fully complied with all the provisions of this Agreement <br />and any Ordinance or Resolution adopted by the North Olmsted City Council, and <br />remedied all defaults thereunder; and <br />B. Such receiver or trustee, withing said one hundred and twenty (120) days, <br />shall have executed an Agreement, duly approved by the court having jurisdiction in the <br />premises, whereby such receiver or trustee assumes and agrees to be bound by <br />emh and every provision of this Agreement and the franchise granted to the <br />GRANTEE. <br />SECTION XIV: <br />CONTINUITY OF SERVICE MANDATORY <br />It shall be the right of all Subscribers to receive ali available service insofar as <br />their financial and other obligations to the GRANTEE are honored. In the event that <br />the GRANTEE elects to overbuild, rebuild, modify or sell the system, or the North <br />Olmsted City Council terminates or fails to renew this franchise, the GRANTEE shall do <br />everything in its power to ensure that all Subscribers receive continuous, uninterrupted <br />service for a reasonable period of time following such action and regardless of the <br />-, ?