(A) The franchise granted by this chapter shall be in full force and effect from and after acceptance by the grantee, as provided in § 115.43. The franchise shall continue in full force and effect for a term of 15 years.
(B) The grantee shall have the option to renew the terms and conditions of this franchise for an additional period of 15 years. Should the grantee desire to exercise this option, it shall so notify the city, in writing, not less than 3 months prior to the expiration hereof. The option shall be available, however, only if the grantee is not in default of any of the material provisions of this franchise agreement at the time of the exercise of the option.
(Prior Code, § 115.21) (Ord. 4565, passed 11-13-1979) Penalty, see § 115.99