If at any time the Company elects to terminate or ceases the provisions of the cable TV service as described herein, within the City, or the franchise is terminated by its own terms or by the City as a result of default of terms of this franchise, the City shall have the option to purchase the system at fair market value. A reputable appraiser shall determine the fair market value. Both the City and the Company shall agree upon the selection of the appraiser or each will select one (1) and the two (2) shall select a third, if the parties cannot agree on a single appraiser.
(Prior agmt. 7-1-2002)