Whenever the franchise agreement sets forth a time for any material act to be performed by the grantee, such time shall be deemed to be of the essence, and any failure of the grantee to perform within the allotted time may be considered sufficient grounds for the grantor to invoke any relevant penalty provision of the franchise agreement or this chapter in accordance with the provisions of Section 712.18(e), 712.25(g) or 712.29, as applicable.
(Ord. 97-32. Passed 5-5-97.)