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contained herein shall require the approval o the City for the provision of telecommunications <br /> services or service elements by Grantee to any c istomer of Grantee. <br /> B. The City shall act by ordinance on the re.uest within one hundred twenty (120) days of the <br /> request, provided it has received all requested information. Subject to the foregoing, if the City <br /> fails to render a final decision on the request ithin one hundred twenty (120) days, such request <br /> shall be deemed granted unless the requesting p.rty and the City agree to an extension of time. <br /> C. Within thirty (30) days of any lease, assi ent or other alienation, if approved or deemed <br /> granted by the City, Grantee shall file with the City a copy of the deed, agreement, lease or other <br /> duly notarized written instrument evidencing s zch lease, assignment or other alienation, certified <br /> and sworn to as correct by Grantee and the ransferee, and the transferee shall file its written <br /> acceptance agreeing to be bound by all of the provisions of this Franchise, subject to applicable law. <br /> D. In reviewing a request for sale or trans br, the City may inquire into the financial and <br /> operational qualifications of the prospective co trolling party or transferee, and Grantee shall assist <br /> the City in so inquiring. The City may condit on said lease, assignment or other alienation upon <br /> such terms and conditions as it deems reasonamly appropriate, provided, however, any such terms <br /> and conditions so attached shall be related to the financial and operational qualifications of the <br /> prospective controlling party or transferee anito the resolution of outstanding and unresolved <br /> issues of noncompliance with the terms and con itions of this Franchise by Grantee. <br /> E. Notwithstanding anything to the contrary in phis subsection,the prior approval of the City shall <br /> not be required for any sale, assignment or trans er of the Franchise or Telecommunications System <br /> to an entity controlling, controlled by or under t e same common control as Grantee,provided that <br /> that such proposed successor shall have the sam or greater financial qualifications as has Grantee <br /> as of the effective date of this Franchise or at the time of such sale, assignment, or transfer, <br /> whichever financial qualifications are greater. he proposed assignee or transferee must agree in a <br /> duly notarized writing to comply with all of the >rovisions of the Franchise. Further, Grantee may <br /> pledge the assets of the Telecommunications Sy tem for the purpose of financing without the <br /> consent of the City; provided that such pledge o assets shall not impair or mitigate Grantee's <br /> responsibilities and capabilities to meet all of its obligations under the provisions of this Franchise. <br /> F. Grantee may sell or issue securities to its em;loyees, or to the public, or in a private placement <br /> to private investors, in accordance with applica.le law, without the consent of the City, provided, <br /> however,that such sale or issuance of securities is not likely to adversely affect the ability of <br /> Grantee to perform all of its obligations under t e Franchise. <br /> 13. MISCELLANEOUS PROVISI * NS <br /> 13.1. Notices <br /> Throughout the term of the Franchise, each p uty shall maintain and file with the other a local <br /> address for the service of notices by mail. '11 notices shall be sent postage prepaid to such <br /> respective address and such notices shall be e ifective upon the date of mailing. The City or the <br /> 28 of 31 <br />