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• <br /> assignment, mortgage, pledge or other encumbrance, if any, of the Franchise, System or <br /> assets relating thereto, or of the interests in Franchisee, as collateral for a loan. <br /> Section 3: The Franchise Authority confirms that, as of the date of this ordinance: (a) <br /> the Franchise was properly granted to Franchisee, is valid, remains in full force and effect <br /> and expires on July 11, 2000, subject to options, if any, to extend such term; (b) the <br /> Franchise supersedes all other agreements between Franchisee and the Franchise Authority <br /> and represents the entire understanding of the parties; and (c) Franchisee is materially in <br /> compliance with the provisions of the Franchise and there are no material unfulfilled <br /> commitments of Franchisee under the Franchise. <br /> Section 4: The Transactions shall not alter or affect the obligations and responsibilities <br /> of Franchisee to the Franchise Authority under the terms and conditions of the Franchise. <br /> Section 5: This ordinance shall not be construed a waiver of, or an amendment of, any <br /> provision of Ordinance No. 1138-85 (Everett Municipal Code Chapter 5.116 - Cable <br /> Communications Systems)or the franchise ordinance (Ordinance No. 1140-85), and in the <br /> event any provision of this ordinance shall conflict with Ordinance No. 1138-85 or the <br /> franchise ordinance, the provisions of Ordinance No. 1138-85 or the franchise ordinance <br /> shall control. <br /> Section 6: This ordinance shall be deeme. • 'ective as of the closing date of the <br /> Transactions. <br /> 1 <br /> P. HANSEN, Mayor <br /> 4E,1/1 riAL) <br /> CITY CLERK •' a <br /> Passed: 12/06/95 <br /> Valid: 12/13/95 <br /> Published: 12/20/95 <br /> Effective: closing date of transactions <br />