The City may revoke this franchise only after declaration of default and only for defaults by the grantee arising from the following circumstances:
(a) Material misrepresentation by the grantee to the City in information required to be provided under the franchise;
(b) The grantee becomes insolvent or is adjudged a bankrupt;
(c) The grantee willfully violates any material orders or rulings of any regulatory body having jurisdiction over the franchise;
(d) The grantee willfully fails to acquire the insurance required by the franchise; or
(e) Any substantial violation of a material term or condition of this franchise.
(Ord. 09-85-92. Passed 9-15-92.)