(A) Any franchise granted, together with the rights, privileges, and authority granted thereby, shall take effect and be in force from and after the effective date of an ordinance awarding a franchise, provided that on or before the date the franchisee shall:
(1) File with the city an unconditional acceptance of the franchise grant and enter into and execute such contracts and documents as required by the City Commission consistent with the terms and provisions of this chapter and such other terms and provisions as were negotiated by the franchisee and the City Commission consistent with the application of the franchisee.
(2) File certificate of insurance as set forth in § 114.08 of this chapter.
(3) File such bond or bonds as required in § 114.08 of this chapter.
(4) Reimburse the city for the costs of publication of this chapter and the ordinance awarding the franchise.
(5) Advise the City Commission in writing of the franchisee's location and its address for mail and official notifications from the City Commission.
(B) In the event the franchisee fails to comply in full with division (A) of this section, then it shall be conclusively considered that the franchisee has abandoned its application and rights to such grant and award of the franchise, and any such rights that the franchisee may have acquired under the chapter shall immediately terminate, and the franchisee shall have no right, privilege or authority whatsoever under this chapter.
(C) The franchisee shall have no recourse whatsoever against the city for or on account of any loss, cost, expense, or damage arising out of any provisions or requirements of this chapter and/or the ordinance awarding the franchise or any amendments thereto or rules or regulations thereunder.
(D) The franchisee, by acceptance of any franchise awarded, acknowledges that it has relied upon its own investigation and understanding of the power and authority of the City Commission to grant such a franchise.
(E) The franchisee, by acceptance of any franchise awarded, acknowledges that it has thoroughly examined and is familiar with the terms and conditions of this chapter, the ordinance awarding the franchise, and such other contracts and documents entered into by the franchisee relative to the franchise.
(F) The franchisee, by acceptance of any franchise awarded, acknowledges and agrees that the matters contained in the franchisee's application for franchise or supplements thereto, shall be incorporated into the ordinance awarding the franchise as though set out verbatim and shall be considered an integral part of such chapter in all communications, correspondence, filings, or applications with all appropriate regulatory agencies, including the FCC.
('81 Code, § 450.1, § 6)