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<br />. <br /> <br />. <br /> <br />. <br /> <br />4. The City hereby certifies that the Franchise is in full <br />force and effect and that Rite is not in default under any of the <br />terms or provisions of the Franchise. <br /> <br />5. The city hereby waives any right of first refusal to <br />purchase the cable communications system but only as that right <br />of first refusal applies to the transaction now before the city. <br /> <br />6. The city approval set forth herein is subject to: <br /> <br />A. The closing of the sale of Rite's cable <br />communications system to Jones. <br /> <br />B. Jones and/or one or more of its controlled <br />affiliates shall, within thirty (30) days after the closing <br />set forth above, accept the Franchise in form and substance <br />acceptable to the Sherburne/Wright Counties Cable <br />Communications commission II (hereinafter "Commission"), <br />unless the time for acceptance is extended by the <br />Commission. <br /> <br />C. Jones shall deliver to the Commission any <br />performance bond and letter of credit required under the <br />Franchise. <br /> <br />D. Jones shall furnish to the Commission certificates <br />of insurance in accordance with the requirements of the <br />Franchise. <br /> <br />7. In the event Jones fails to close on the sale of Rite's <br />cable communications system on or before June 30, 1987, this <br />Resolution and any or all approvals set forth herein shall be <br />null and void unless said date is further extended by the <br />Commission. <br /> <br />Passed and approved this 16th day of March <br />1987. <br /> <br />CITY OF Elk River <br />By ~:-;/~f/~7;-- ~~ {d lf~jJ <br />Its Estelle E. Gllnkpl) Mayor <br />By ~~_A".P O~~ <br />Its Patrick D. Kl~pr~) r.jry Administrator <br /> <br />- 2 - <br />