By acceptance of the franchise, grantee specifically agrees that:
(A) Grantee shall be subject to and will perform on it's part all the terms of §§ 94–102 inclusive of the Charter of the City of Columbia Heights.
(B) Grantee shall not issue any capital stock on account of the franchise or the value thereof, and that the grantee shall have no right to receive, upon condemnation proceedings brought by the city to acquire the public utility exercising such franchise, any return on account of the franchise or its value.
(C) That no sale or lease of said franchise shall be active until the assignee or lessee shall have filed in the office of the City Manager an instrument, duly executed, reciting the fact of such sale or lease, accepting the terms of the franchise, and agreeing to perform all the conditions required of the grantee thereunder.
(D) That every grant of permission contained in the franchise for the erection of poles, masts, or other fixtures in the streets and for the attachment of wires thereto, or for the laying of tracks in, or of pipes or conduits, under places of any permanent fixtures whatsoever, shall be subject to the condition that the Council shall have the power to require such alterations therein, or relocation or rerouting thereof, as the council may at any time deem necessary for safety, health, or convenience of the public, and particularly that it shall have the power to require the removal of poles, masts, and other fixtures bearing wires and the placing underground of poles, masts, and of other fixtures bearing wires and the placing underground of all wires for whatsoever purpose used.
(E) Acceptance of the franchise, and every extension or renewal or extension thereof shall be in writing by the grantee within thirty days after its passage by the Council and before its submission to a vote of the people in case of a referendum. No such franchise shall be binding upon the city until its acceptance by the grantee. Such acceptance shall be construed to be an acceptance of and consent to all the terms, conditions, and limitations contained in the ordinance granting the franchise as well as of the provisions of the Charter of the City of Columbia Heights.
('77 Code, § 11.117(7)) (Am. Ord. 982, passed 11-9-81)