Grantee shall have the option to request renewal of this franchise for an additional period not to exceed ten (10) years. Should grantee desire to exercise this option, it shall so notify the city in writing, not less than three (3) months prior to expiration of this franchise. Upon exercise of this option by grantee, the city shall conduct a full, open, and public renewal proceeding upon prior notice and opportunity of all interested parties to be heard. The renewal proceeding shall be held for the purpose of considering grantee's performance under this franchise in order to determine whether to renew this franchise. Renewal shall not be unreasonably denied and shall be granted unless grantee is found to be unqualified, or has not performed pursuant to this chapter or the city's policies or practices, to continue operation of this cable television system. If this franchise is renewed by the city, all of the terms and provisions contained herein shall be controlling during the renewal period, except to the extent that said terms and provisions are modified by the city, or unless this franchise is superseded by a new franchise. Should the city, for any reason, be unable to complete the renewal proceeding prior to expiration of this franchise, such denial shall be accompanied by a written statement setting forth the reason for the denial. Grantee shall have the right to request review of any such denial by any court of competent jurisdiction. Furthermore, in the event that the city denies renewal, grantee shall be afforded a period of six (6) months following denial within which to sell, transfer, or convey this cable television system to a qualified purchaser at fair market value. During the six (6) month period, which shall run from the effective date of the final order or decision denying renewal, including any appeal, grantee shall have the right to operate this cable television system pursuant to the terms of this franchise. (Ord. 468, 6-10-2003)