Section 5.35.070 Term of franchise.

The initial term of a Franchise shall be for a period of up to fifteen (15) years from the date of acceptance as set forth herein, and may be renewed thereafter for successive five year terms if either party provides written notice to the other party one hundred twenty (120) days before the end of the initial term or any renewal term of its intent to extend and renegotiate the terms and conditions of the Franchise. At the end of that term, additional terms and extensions may be negotiated upon terms and conditions reasonably acceptable to both the City and the Franchisee.