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<br />, f <br /> <br />\,-' <br /> <br />, . <br /> <br />, .' <br /> <br />the cost thereof from Grantee. The cost thereof shall be a <br />lien upon all plant and property of Grantee. Such lien shall <br />not attach to property of Grantee located on the poles or <br />other utilities until removal of such property from the pole. <br /> <br />12.2 Receivership. Grantor shall have the right to <br />revoke the franchise and this agreement one hundred and twenty <br />(120) days after the appointment of a receiver, or trustee, <br />to take over and conduct the business of Grantee, whether in <br />receivership, reorganization, bankruptcy, or other action or <br />proceeding, unless such receivership or trusteeship shall <br />have been vacated prior to the expiration of said one hundred <br />and twenty (120) days, or unless: <br /> <br />(a) Within one hundred and twenty (120) days after <br />his election or appointment, such receiver or trustee shall <br />have fully complied with all the provisions of the franchise <br />and this agreement and remedied all defaults thereunder; and <br /> <br />(b) Such receiver or trustee, within said one <br />hundred and twenty (120) days, shall have executed an agree- <br />ment, duly approved by the court having jurisdiction in the <br />premises, whereby such receiver or trustee assumes and agrees <br />to be bound by each and every provision of the franchise and <br />this agreement. <br /> <br />12.3 Expiration. Upon expiration of the initial term of <br />the franchise and consistent with Section 12.4 hereinbelow, <br />Grantor shall have the right, at its election, to: <br /> <br />(a) <br /> <br />(b) <br />proposals; or <br /> <br />renew or extend the franchise; <br /> <br />invite additional franchise applications or <br /> <br />(c) <br /> <br />terminate the franchise without further action. <br /> <br />Grantee shall make it a condition of each contract <br />entered into by it that Grantor shall have the right to exercise <br />these options. <br /> <br />12.4 Renewal. The franchise may be renewed by Grantor, <br />upon application of Grantee, in accordance with the then <br />existing rules of the FCC, and applicable law. <br /> <br />( a) Gran teë"'shan-suDm it' its applica tion for 'reÍíew"ál <br />at least nine (9) months prior to the'date of expiration. <br /> <br />-39- <br />