Upon revocation or cancellation of a franchise, or upon any other termination of a franchise by passage of time or otherwise, the City shall have the alternative right to buy the grantee’s cable system. If the franchise is terminated for cause, the City may purchase the cable system at an equitable price, within the meaning of the Cable Act; otherwise, the cable system may be purchased at fair market value, less the value of the franchise, within the meaning of the Cable Act. The grantee shall sell its cable system subject to such warranties and terms as are appropriate under the circumstances. (Ord. #80-97, S23)