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paragraph shall survive every sale to a buyer and shall <br /> continue and be binding upon every buyer of the System. <br />B. Upon forfeiture, revocation or termination of this Fran- <br /> <br /> chise, or at the normal expiration of the Franchise term, <br /> City shall have the right to purchase the System. Such <br /> right shall be exercised upon written notice to Grantee <br /> within six months after the occurrence of any such event. <br /> <br />SECTION 2. PROCEDURES <br /> <br /> In the event City elects to exercise its right to purchase <br />the System as provided in Section lB of this Article, the follow- <br />ing shall then apply: <br /> <br />A. City and Grantee shall negotiate all terms and conditions of <br /> the purchase of the System. <br /> <br />B. If City and Grantee cannot agree upon the terms and condi- <br /> tions of the purchase, City shall have the right to proceed <br /> to arbitration. Arbitration shall commence and proceed ac- <br /> cording to appligable Minnesota law except as follows: <br /> (1) The parties shall, within 15 days of City's decision to <br /> proceed to arbitration, appoint one arbitrator each who <br /> is experienced and knowledgeable in the purchase and <br /> valuation of business property. Arbitrators shall each <br /> agree upon the selection of a third arbitrator, simi- <br /> larly qualified, within 15 days after appointment of <br /> the second arbitrator. <br /> <br /> (2) Within 30 days after appointment of all arbitrators and <br /> upon ten days written notice to parties, the arbitrat- <br /> ors shall commence a hearing on the terms and <br /> <br />71 <br /> <br /> <br />