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ARTICLE II. <br /> GRANT OF AUTHORITY AND GENERAL PROVISIONS <br />SECTION 1. GRANT OF FRANCHISE AND ACCEPTANCE <br /> <br /> City hereby grants'to Grantee, to be effective upon certifi- <br />cation by Board, a nonexclusive franchise subject to all of the <br />terms and conditions as herein provided: <br /> <br />A. Grantee shall accept this Franchise in the following manner, <br /> and not later than the time set out in Article XIV, Section <br /> 2: <br /> <br /> (1) This franchise will be properly executed and acknowl- <br /> <br /> edged by Grantee and delivered to City. <br /> <br /> (2) At the same time as delivery of the executed Franchise, <br /> Grantee shall deposit with City its nonrefundable ac- <br /> ceptance fee in the sum of $14,000.00, for the purpose <br /> of defraying the costs and expenses of developing this <br /> Franchise and for the enforcement and administration <br /> costs to be incurred until Franchise fees may be real- <br /> ized. After the initial payment of the acceptance fee, <br /> should costs in excess of the acceptance fee be in- <br /> curred by City prior to the payment of the first Fran- <br /> chise fee, City may charge such excess costs to Grantee <br /> and Grantee shall pay them on demand by City, as an <br /> advance on the payment of Franchise fees. <br /> <br /> (3) All security deposits, Letters of Credit, certificates <br /> of insurance, acceptances, bonds, attorneys' opinions, <br /> organizational and creation documents and guarantees <br /> required of Grantee by this Franchise, shall be de- <br /> <br /> <br />