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<br />86 (1 5 ) <br /> <br />....- <br /> <br />SECTION 16. TRA~1SFER OF FRANCHISE. <br /> <br /> <br />No sale, transfer, disposition or assignment of this franchise (except with <br /> <br /> <br />all or substantially all of the operatihg properties of the grantee as security <br /> <br /> <br />for debt) shall be effective unless the grantee shall file with the city manager <br /> <br /> <br />written notice of the proposed sale, transfer, disposition or assignment, such <br /> <br /> <br />notice to clearly summarize the proposed procedure and the terms and conditions <br /> <br /> <br />thereof. The proposed vendee, grantee or lessee shall similarly file an instrument, <br /> <br /> <br />duly executed, reciting such proposal, accepting the terms of this franchise and <br /> <br /> <br />agreeing to perform all of the conditions thereof. <br /> <br />-- <br /> <br />SECTION 17. FffiFEITURE. <br /> <br /> <br />The violation of any material portion of this franchise by the grantee or <br /> <br /> <br />its successor in interest, or its failure promptly to perform any of the provisions <br /> <br /> <br />of this franchise, shall be cause for the forfeiture hereof and the termination <br /> <br /> <br />of all rights hereunder. Such forfeituxe shall be accomplished by resolution of <br /> <br /> <br />the City Council after written notice to the grantee, and continuation by the <br /> <br /> <br />grantee of the violation, failure or default specified in the notice for at least <br /> <br /> <br />90 days from the date when the notice is served. In the event of forfeiture as <br /> <br /> <br />herein set forth, the city may proceed as prescribed in Section 10 of this <br /> <br /> <br />franchise or in such other manner as the City Council may deem best in an endeavor <br /> <br /> <br />to maintain service of gas to the consumers of the grantee. <br /> <br />SECTIGr-! 18. JURISDICTIOJIT OF GOVERNHENTAL REGUIATCRY Cm;]NISSIQI\B. <br /> <br />Hhere any provision of this franchise is in conflict 'l..rith any lawful rule of <br /> <br />the State Corporation Commission of the Commonwealth of Virginia or other <br /> <br />- <br /> <br />- 15 - <br />