A. Term: The franchise granted by this Chapter shall last for a term of fifty eight (58) years from its effective date, except that, at the sole option of the Village, it may be terminated at the end of the fifteenth year prior to the year in which it would otherwise terminate; provided, that the Village notifies Edison in writing of its intent to terminate within the first three (3) months of the fifteenth prior year.
B. Acceptance: The Licensee shall accept this Chapter by filing with the Clerk an unconditional written acceptance hereof, to be duly executed according to law, along with proof of compliance required by subsections 3-1-14B and C of this Chapter. The failure of the Licensee to so accept this Chapter within thirty (30) days of enactment shall be deemed a rejection hereof by the Licensee, and the rights and privileges herein granted shall absolutely cease and desist unless said period of time shall be extended by an ordinance duly passed by the corporate authorities for that purpose before the expiration of the thirty (30) day period.
C. Effective Date: This Chapter shall be in full force and effect upon the Licensee's filing of its acceptance as provided hereinabove or upon its passage and publication as required by law, whichever is later.
D. Reopener: At any time, but no more than once in any ten (10) year period, either party may require both parties to negotiate in good faith on any proposed amendment to this Chapter. The subject of any proposed amendment shall be set forth in written notice.
F. Renewal: At any time during the first sixty (60) days of the last year occurring prior to the expiration date of this Chapter, Edison may request the Village to enter into negotiations toward renewing or extending this Chapter. Any renewal or extension shall be according to terms that are mutually agreeable and the Village shall not be bound to accept any particular terms or to renew any or all of the rights granted by this Chapter.
G. Termination: The rights and obligations of the Licensee under this Chapter shall be terminated upon the end of the term of this Chapter, or at the end of the fifteenth year prior to the term of this Chapter if the Village has exercised its option to terminate under subsection A of this Section, or upon the Licensee's forfeiture as provided in Section 3-1-11 of this Chapter.
H. Rights Upon Termination:
1. Upon any termination of its rights and obligations under this Chapter, the Licensee shall not refuse to provide electric service to any potential customers within the Village unless a petition for abandonment has been filed with and approved by the ICC.
2. Notwithstanding the termination of the Licensee's rights and obligations hereunder, by forfeiture or otherwise, the Licensee shall remain subject to all other applicable regulations and authority of the Village, without limitation, as long as the Licensee continues to provide electrical service within the Village or the Licensee's utility facilities remain in the public ways or on public property.
3. Any claims for indemnification for liability incurred by the Village, its boards, committees, commissions, officers, agents and employees arising from any incidents that occurred on or before the termination of this Chapter shall survive the termination; provided, that such claims for indemnification are timely made. (Ord. 92-26, 11-18-92)
Notes
| 1 | 1. Exhibit B is attached to Ordinance 92-26 and on file in the office of the Village Clerk. |