(1) Within sixty (60) days after acceptance of this franchise, the grantee shall proceed with due diligence to obtain any necessary permits and authorizations which are required in the conduct of the business, including, but not limited to, microwave carrier license, and any other permits, licenses and authorization to be granted by duly constituted regulatory agencies having jurisdiction over the operation of the CATV Systems, or their associated microwave transmission facilities.

(2) The grantee shall commence construction and installation of the CATV system so that service to subscribers will commence not later than 120 days after the date of the grant of franchise to operate the CATV System.

(3) The Town Council may grant an extension of the time limits set out above for good cause shown, provided, however, that formal application for such extension must be filed within the time limits specified.

(4) Failure on the part of the grantee to commence the foregoing requirements and to complete each of the matters as set forth herein shall be grounds for termination of this franchise, under and pursuant to GMC 5.06.260, below; provided, however, that the Council may, upon formal application of grantee, in its discretion extend the time for the commencement and completion of construction and installation for additional periods in the event the grantee, acting in good faith, experiences delays by reason of circumstances beyond its control. (Ord. 258-N, §1, 1998)