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A. Within one hundred and twenty (120) days after <br /> his election or appointment, such receiver or trustee shall <br /> have fully complied with all the provisions of this <br /> Franchise and remedied all defaults thereunder; and, <br /> <br /> B. Such receiver or trustee, within said one hundred <br />and twenty (120) days, shall have executed an agreement, <br />duly approved by the Court having jurisdiction in the <br />premises, whereby such receiver or trustee assumes and <br />agrees to be bound by each and every provision of this <br />Franchise. <br /> <br /> 11.03 Abandonment. Grantee may not abandon the System <br />or any portion thereof without having first given three (3) <br />months written notice to the City. Grantee may not abandon <br />the System or any portion thereof without compensating, the <br />City for damages resulting from the abandonment. The City <br />may recover from Grantee damages for the reasonable cost of <br />removal of the System. <br /> <br /> SECTION 12. REMOVAL, TRANSFER AND PURC~nnE. <br /> 12.01 Removal After Expiration. <br /> <br /> A. At the expiration and nonrenewal of the term for <br />which the Franchise is granted, the City shall have the <br />right to require Grantee to remove, at Grantee's expense, <br />all or any portion of the System from all Streets and <br />public property within the City. In so removing the <br />System, Grantee shall refill and compact at its own <br /> <br />-34- <br /> <br /> <br />