After the passage and legal publication of the Ordinance codified in this Chapter, and if accepted within thirty (30) days after such publication, Grantee shall indicate such acceptance by its filing with the City an unconditional written acceptance thereof, to be executed according to law, and a failure of Grantee to so accept the Ordinance codified in this Chapter within the said period of time shall be deemed a rejection thereof by Grantee, and the rights and privileges herein granted shall, after the expiration of said period of thirty (30) days, if not so accepted, absolutely cease and terminate unless said period of time shall be extended by the City by ordinance duly passed for that purpose. (Ord. 310, 5-8-1990)