§ 25.16. Grantee's Obligations as Trustee.

A.

At all times from the expiration or revocation of a Franchise and until either (1) a Grantee transfers to the City or other succeeding operator of the System all of its rights, title and interest to all assets, real and personal, related to its Cable Television System or (2) the City's right to either acquire or assign its right to acquire any of the Grantee's assets expires without the City having exercised such a right, whichever occurs first, the Grantee shall have a duty to such successor as a trustee holding such assets for the benefit of such successor and the Grantee shall not sell any of the system's assets nor shall the Grantee make any physical, material, or administrative operational changes that would tend to (i) degrade the quality of service to the subscribers, (ii) decrease Gross Revenues, or (iii) materially increase expenses without the expressed permission, in writing, of the City or its assigns. The Grantee shall at all times operate the System in accordance with the Cable Act, the terms of this ordinance and the terms of the Franchise Agreement as if the Franchise had not expired or had not been revoked. In the event the Grantee fails or refuses to operate the System as a trustee, the City shall have the right to apply to a court of competent jurisdiction within Orange County, Florida, for permission to name a successor trustee or operate the System itself as a trustee in accordance with the Cable Act and the terms of this ordinance and Franchise Agreement.

B.

In the event of expiration, revocation or other termination of a Franchise, this section shall not be construed to give a Grantee any vested or other franchise right, but the right of the Grantee in such circumstances shall exist only on a day-to-day basis until the transfer is effected. The continued operation of the System shall in no way be construed as a renewal or extension of the Franchise.

C.

For its management services during this interim period as a trustee, the Grantee shall be entitled to receive as compensation the Net Profit, as defined herein, generated during the period between the expiration, revocation or other termination of the Franchise, as the case may be, and the transfer of the Grantee's assets to the City or a successor.

D.

Further, this section shall in no way limit the power of the City, upon the expiration, revocation or other termination of a Franchise, to require the Grantee to cease all operations whatsoever and/or remove its facilities, or otherwise exercise any rights the City would otherwise have.

(Ord. of 1-7-1985, Doc. #19125; Ord. of 9-23-1996, Doc. #29666)