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1 period as may be prescribed by said City Council by ordinance. Said City <br /> 2 Council of Grantor shall have the power, either through its members or by <br /> 3 experts or employees duly authorized by it, to examine the books and affairs <br /> 4 <br /> of the Grantee and to compel the production of all books and papers, pertaining <br /> 5 <br /> to such report or other matters. <br /> 6 <br /> Section 10: The Grantee agrees not to issue any capital stock on account <br /> 7 <br /> 8 of the franchise granted herein or for the value thereof. Further, the Grantee <br /> 9 shall have no right to receive upon a condemnation proceeding brought by the <br /> 10 Grantor or its successors to acquire the public utility (Grantee) using such <br /> 11 franchise, any return on account of the franchise or its value. <br /> 12 Section 11: The Grantee shall have the right to sell or lease this franchise, <br /> 13 but only upon the following conditions: No sale or lease of this franchise shall <br /> 14 <br /> be effective until the assignee or lessee shall have filed in the office of the Clerk <br /> 15 <br /> of Grantor an instrument, duly executed, reciting the facts of the sale or lease, <br /> 16 <br /> accepting the terms of the franchise affected, and agreeing to perform all of the <br /> 17 <br /> 18 conditions required of the Grantee thereunder. The assignee or lessee shall <br /> 19 also file a bond in such amount and with such conditions as the City Council <br /> 20 may require, which bond shall run to the Grantor as obligee, with surety sat- <br /> 21 isfactory to the City Council, and shall obligate the Grantee or lessee, to dis- <br /> 22 charge all obligations or liabilities imposed upon the Grantee by the franchise <br /> 23 <br /> granted herein. <br /> 24 <br /> Section 12: This franchise is granted upon the express condition that <br /> 25 <br /> the Grantee within forty (40) days after the adoption of this Ordinance shall <br /> 26 <br /> 27 file with the Clerk of the City of Everett a written acceptance of the same, and <br /> 28 when so accepted by the company shall constitute a contract between the city <br /> 29 and the company for all the uses, services, and purposes herein set forth. <br /> 30 Section 13: The City Council of the City of Everett may, by ordinance, <br /> 31 forfeit the franchise herein granted, in the event that the Grantee, or its assigns, <br /> 32 <br /> -5- <br />