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10.3. Abandonment of Service. <br /> <br />10.4. <br /> <br />10.5. <br /> <br />The Grantee may not abandon the System or any portion thereof without having first <br />given three (3) months written notice to the City. The Grantee may not abandon the <br />System or any portion thereof without compensating the City for damages resulting from <br />the abandonment, including all costs incident to removal of the System, if required by the <br />City pursuant to Section 10.4. <br /> <br />Removal After Abandonment~ Termination or Forfeiture. <br /> <br />10.4.1 <br /> <br />In the event of termination or forfeiture of the Franchise or abandonment of the <br />System, the City shall have the right to require the Grantee to remove all or any <br />portion of the System from all Rights-of-Way and public property within the <br />City. <br /> <br />10.4.2 <br /> <br />If the Grantee has failed to commence removal of the System, or such part <br />thereof as was designated by the City, within thirty (30) days after written <br />notice of the City's demand for removal is given, or if the Grantee has failed to <br />complete such removal within twelve (12) months after written notice of the <br />City's demand for removal is given, the City shall have the right to apply funds <br />secured by the Letter of Credit and Performance Bond toward removal and/or <br />declare all right, title, and interest to the System to be in the City with all rights <br />of ownership including, but not limited to, the right to operate the System or <br />transfer the System to another for operation by it. <br /> <br />Sale or Transfer of Franchise. <br /> <br />10.5.1 <br /> <br />No sale or transfer of the Franchise, or sale, transfer, or fundamental corporate <br />change of or in Grantee, including, but not limited to, a fundamental corporate <br />change in Grantee's parent corporation or any entity having a controlling <br />interest in Grantee, the sale of a controlling interest in the Grantee's assets, a <br />merger including the merger of a subsidiary and parent entity, consolidation, or <br />the creation of a subsidiary or affiliate entity, shall take place until a written <br />request has been filed with the City requesting approval of the sale, transfer, or <br />corporate change and such approval has been granted or deemed granted, <br />provided, however, that said approval shall not be required where Grantee <br />grants a security interest in its Franchise and/or assets to secure an indebtedness. <br />Upon notice to the City, Grantee may undertake legal changes necessary to <br />consolidate the corporate or partnership structures of its Minnesota/Wisconsin <br />Systems provided there is no change in the controlling interests which could <br />materially alter the financial responsibilities for the Grantee. <br /> <br />10.5.2 <br /> <br />Any sale, transfer, exchange or assignment of stock in Grantee, or Grantee's <br />parent corporation or any other entity having a controlling interest in Grantee, <br />so as to create a new controlling interest therein, shall be subject to the <br />requirements of this Section 10.5. The term "controlling interest" as used <br /> <br />49 <br /> <br /> <br />