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The procedures for the City's election to exercise its rights to <br />purchase the System are contained in Section 2. The procedure provides for <br />City's right to accept the terms of a pending purchase offer, or the appointment <br />of an arbitration panel to establish the terms and conditions of the sale. <br /> <br /> Ownership in the system may not be transfered without the prior writ- <br />ten consent of the City. The procedures for notifying the City of the transfer <br />of ownership, and City evaluation of said transfer, are provided for in <br />Section 1. <br /> <br /> The City shall have the right to require Group W to remove, at Group <br />W's expense, a]]- or any portion of the System within City upon the revocation or <br />termination of the franchise pursuant to the terms and procedures of Section 2. <br /> <br />SECTI(~ 3. WORK PEI~POI~D BY ~ <br /> <br /> Group W must inform the City of the names and addresses of any entity <br />other than Group W which shall perform services pursuant to the franchise. <br /> <br /> For the purposes of the franchise, prime rate shall mean the interest <br />charged from time to time by the First National Bank of Minneapolis for ninety <br />day unsecured loans to oc~mercial borrowers of the highest credit rating. <br /> <br />SEC~I(lq 5. 6~qERAL PROVISION C~ RI(]]~S AND l~En~ <br /> <br /> All remedies and rights given to City by the franchise are in addition <br />to any other rights which City might otherwise have regarding .the System or <br />Group W. <br /> <br />SECTI~ 6. APPLICABLE LAg~ AND ~ I~L~ISI~: S{~'q]~[=~%BrL'F'I'Y <br /> <br /> The franchise must at all times be in compliance with the rules of the <br />State Cable Board and all laws, ordinances and regulations of federal, state and <br />city government relating to the cable television system and the franchise. If <br />any provision of this franchise is declared invalid or void, that section may be <br />severed from the franchise with the remaining sections in full force and effect. <br />If the City determines that a provision of the franchise is affected by law, <br />ordinance or regulation, City shall have the right to amend, modify alter <br /> <br />-8- <br /> <br /> <br />