The franchise granted hereunder shall not become effective until written acceptance thereof shall have been filed by the grantee thereof with the clerk of the city. When so filed, such acceptance shall constitute a continuing agreement of the grantee that if and when the city shall thereafter annex or consolidate with additional territory, any and all franchise rights and privileges owned by the grantee therein, shall likewise be deemed to be abandoned within the limits of such territory. (Ord. 825 § 5, 1941)