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(2) To establish, to the satisfaction of <br /> <br /> the Grantor, the financial solvency of the proposed transferee <br /> by submitting all current financial data for the proposed <br /> transferee which the Grantee was required to submit in its <br /> franchise application, and such other data as the Grantor <br /> may request. Financial statements shall be audited, certified <br /> and qualified by an independent Certified Public Accountant. <br /> <br /> (3) To establish to the satisfaction of <br /> <br /> the Grantor that the financial and technical capability of <br /> the proposed transferee is such as shall enable it to maintain <br /> and operate the cable system for the remaining ter-m-of the <br /> franchise under the existing franchise terms. <br /> <br /> (c) The Grantor agrees that any financial insti- <br />tution having a pledge of the franchise or its assets for the <br />advancement of money for the construction and/or operation of <br />the franchise shall have the right to notify the Grantor that <br />it or its designee satisfactory to the Grantor will take control <br />and operate the Cable Communications System, in the event of a <br />Grantee default in its financial obligations. Further, said <br />financial institution shall also submit a plan for such opera- <br />tion that will insure continued service and compliance with <br />all franchise requirements during the'term the financial insti- <br />tution exercises control over the system. The financial insti- <br />tution shall not exercise control over the system for a period <br />exceeding one (1) year unless extended by the Grantor in its <br />discretion and during said period of time it shall have the <br /> <br /> <br />