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3 <br /> 12, FRANCHISE TRANSFER <br /> A. The Franchise granted by the City and the Telecommunications System in the public rights of <br /> way of the City subject to the Franchise shall not be leased, assigned, or otherwise alienated <br /> without the express consent of the city by ordinance, and no dealing with the lessee or assignee <br /> on the part of the city to require the performance of any act or payment of any compensation by <br /> the lessee or assignee shall be deemed to operate as such consent. The Grantee shall promptly <br /> notify the City of any actual or proposed lease, assignment or other alienation of the Franchise and <br /> the Telecommunications System in the public rights of way of the City. The parties to the proposed <br /> lease, assignment or other alienation of the Franchise and the Telecommunications System in the <br /> public rights of way of the Franchise shall make a written request to the City for its approval of a <br /> sale or transfer and furnish all information required by law and the City. Nothing contained herein <br /> shall require the approval of the City for the provision of Telecommunications Services, internet <br /> access, private line services or Telecommunications distribution services or service elements by <br /> Grantee to any customer of Grantee. <br /> B. The City shall act by ordinance on the request 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 within one hundred twenty (120) days, such request <br /> shall be deemed granted unless the requesting party and the City agree to an extension of time. <br /> C. Within thirty (30) days of any lease, assignment 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 such lease, assignment or other alienation, certified <br /> and sworn to as correct by Grantee and the transferee, 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 transfer, the City may inquire into the financial and <br /> operational qualifications of the prospective controlling party or transferee, and Grantee shall assist <br /> the City in so inquiring. The City may condition said lease, assignment or other alienation upon <br /> such terms and conditions as it deems reasonably appropriate, provided, however, any such tei ns <br /> and conditions so attached shall be related to the financial and operational qualifications of the <br /> prospective controlling party or transferee and to the resolution of outstanding and unresolved <br /> issues of noncompliance with the terms and conditions of this Franchise by Grantee. Additionally <br /> and where necessary, the FCC must certify the prospective transferee or assignee as a <br /> Telecommunications System Operator prior to the effectiveness of any transfer or assignment. <br /> E. Notwithstanding anything to the contrary in this subsection, the prior approval of the City shall <br /> not be required for any sale, assignment or transfer of the Franchise or Telecommunications System <br /> to an entity controlling, controlled by or under the same common control as Grantee,provided that <br /> such proposed successor shall have the same or greater financial qualifications as has Grantee as of <br /> the effective date of this Franchise or at the time of such sale, assignment, or transfer, whichever <br /> financial qualifications are greater. The proposed assignee or transferee must agree in a duly <br /> • notarized writing to comply with all of the provisions of the Franchise. Further, Grantee may <br /> pledge the assets of the Telecommunications System for the purpose of financing without the <br /> 28 o6f5 l <br />