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enacted no less than thirty (30) days after the application is filed, <br />subsequent to preparation of a modified written franchise Agreement by the <br />City and signature thereof by the applicant. <br /> <br />3. An extension of a Franchise term by less than four (4) years shaft <br />constitute a modification. An extension of a Franchise term by four (4) years <br />or more shall be processed through formal or informal renewal procedures. <br /> <br />F. Franchise Transfers. <br /> <br />1. City Approval Required. <br /> <br /> No Franchise Transfer shall occur without prior written application to <br />and written approval of the City Council by ordinance enacted after a public hearing, and <br />only then upon such terms and conditions as the City Council reasonably deems <br />necessary and proper. Approval shall not be unreasonably withheld. Any purported <br />Franchise Transfer made without such prior approval shall be void and shall be cause for <br />the City to revoke the Franchise Agreement. A grant of a Franchise involves personal <br />credit, trust, and confidence in the Franchisee, and Franchise Transfer without the prior <br />written approval of the City Council shall be considered to impair the City's assurance of <br />due performance. The granting of approval for a Franchise Transfer in one instance shall <br />not render unnecessary approval of any subsequent Franchise Transfer. <br /> <br />2. Application. <br /> <br />The Franchisee shall promptly notify the City Clerk in writing <br />of any proposed Franchise Transfer. If any Franchise Transfer <br />should take place without prior notice to the City, the <br />Franchisee will promptly notify the City Clerk in writing that <br />such a Franchise Transfer has occurred. <br /> <br />At least 120 calendar days prior to the contemplated effective <br />date of a Franchise Transfer, the Franchisee shall submit to <br />the City Clerk an application for approval of the Franchise <br />Transfer. Such an application shall provide information on the <br />proposed transaction, including details on the legal, financial, <br />technical, and other qualifications of the transferee, and on the <br />potential impact of the Franchise Transfer on Subscriber rates <br />and service. At a minimum, the following information must be <br />included in the application: <br /> <br />22 <br /> <br /> <br />