The franchise granted under Sections 4.50.240 through 4.50.350 shall not become effective until written acceptance thereof has been filed by the grantee with the city clerk of the city. When so filed, such acceptance shall constitute a continuing agreement of the grantee that if and when city thereafter annexes or consolidates with additional territory, any and all franchises, rights and privileges owned by the grantee therein shall likewise be deemed to be abandoned as to all streets within the limits of such territory.
(Ord. 383 § 2 Ex. A (part), 1986).