If grantee fails to perform in a timely manner any material obligation required by this chapter or a franchise granted hereunder, following reasonable written notice from the grantor and a not less than 30 day opportunity to cure such nonperformance in accordance with the provisions of this subchapter and the franchise, grantor may at its option and in its sole discretion:
(A) Cure the violation and recover the actual cost thereof from the security fund established in the franchise agreement if such violation is not cured within 30 days after written notice to the grantee of grantor's intention to cure and draw upon the security unless grantor has provided grantee with additional time to effectuate a cure, the granting of additional time not to be unreasonably withheld;
(B) Assess against grantee liquidated damages in an amount set forth in the franchise agreement for any such violations(s) if such violation is not cured, or if grantee has not commenced a cure, on a schedule reasonably acceptable to grantor, within 30 days after written notice to the grantee of grantor's intention to assess liquidated damages. Such assessment may be withdrawn from the security fund, and shall not constitute a waiver by grantor of any other right or remedy it may have under the franchise or applicable law, including without limitation, its right to recover from grantee such additional damages, losses, costs and expenses, including actual attorney's fees, as may have been suffered or incurred by grantor by reason of or arising out of such material breach of the franchise.
(Ord. 1048, passed 1-22-02)