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3. A rebuttable presumption that a change. acquisition, or transfer of <br />Control has occurred shall arise upon the acquisition of accumulation of a <br />ten percent (10%) or larger ownership interest by any Person or group of <br />Persons acting in conceal, none of whom already have more than a fifty <br />percent (50%) ownership interest, alone or collectively. <br /> <br />4. Notwithstanding the foregoing, "Franchise Transfer' does not include: <br /> <br />disposition or replacement of worn out or obsolete equipment, <br />properly or facilities in the normal course of operating a Cable <br />System, including the renewal or extension of equipment or <br />property leases and contracts; or <br /> <br />acquisition, transfer, sale or other disposition of leases, <br />licenses, easements, and other interests in real property in the <br />normal course of operating a Cable System and not involving <br />the relinquishment of any right or power affecting the <br />Franchisee's ability to provide services in whole or in part; or <br /> <br />pledge or mortgage of a Franchisee's assets to a financial <br />institution in return for sums necessary to construct or operate <br />(or both) the Cable System, provided that such pledge or <br />mortgage and related agreements obligate and limit such <br />financial institution as follows: any foreclosure or exercise of <br />lien over the Franchise or facilities shall only be by assumption <br />of Control over the entire Cable System; prior to assumption <br />of Control, the institution shall notify the City that it or a <br />designee acceptable to the City will take Control of and <br />operate the System, and shall submit a plan for such operation <br />insuring continued service and compliance with this Ordinance <br />and all Franchise obligations during the term the institution <br />exercises such Control; and the institution shall not exercise <br />Control for longer than one year unless extended by the City <br />for good cause and shall prior to the expiration of such period <br />(as extended) obtain the City's approval of a Franchise <br />Transfer for the remaining term of the Franchise or award of a <br />new Franchise to another qualified person pursuant to this <br />Ordinance; or <br /> <br />assignment of the Franchise to another entity wholly owned by <br />the Franchisee or the owners of the Franchisee, provided an <br />owner of the Franchisee has guaranteed its obligations under <br />the Franchise Agreement and the assignment does not affect <br /> <br /> <br />