(A) The franchise shall be non-exclusive and shall be for a term not to exceed 15 years from the effective date thereof, as specified in § 115.04.
(B) Except for a mortgage or assignment to secure a loan or loans to construct and operate the system, grantee shall not sell or transfer its system and the franchise granted herein without first securing approval of the town for the sale or transfer.
(C) In the event that the use of any part of the CATV system is discontinued for any reason, or the franchise has been terminated, cancelled or has expired, the grantee shall promptly remove from the streets or public places all the property and poles of the systems, other than those which the Town Clerk may permit to be abandoned in place, and as directed by the Town Clerk; shall either restore the street or pay the town for restoring the street or other area from which the property has been removed to a condition for public use acceptable to the Town Clerk. Any property remaining in place six months after the discontinuance, termination or expiration of the franchise shall be considered permanently abandoned, and may be appropriated by the town or removed by the town at the expense of the grantee.
(Prior Code, § O-I-5)