A. No franchise granted pursuant to the provisions of this chapter shall become effective unless and until it has been accepted by the franchisee.

B. In its acceptance, the franchisee shall declare that it has carefully read the terms and conditions of this chapter and the franchise and unconditionally accepts all of the terms and conditions of this chapter and the franchise and agrees to abide by same. In accepting a franchise, a franchisee shall indicate that it has relied upon its own investigation of all relevant facts, that it was not induced to accept the franchise, and that it accepts all reasonable risks related to the interpretation of the franchise.

C. Within 60 days after the effective date of the ordinance granting a franchise, or within such extended period of time as the council in its discretion may authorize, a franchisee shall file with the city clerk its written acceptance of the franchise and all of its terms and conditions, in a form satisfactory to the city attorney, together with any bond required by BMC 5.50.320, evidence of insurance required by BMC 5.50.310, and any other security required by this chapter of a franchise. If a franchisee fails to file a timely acceptance, the franchise shall be null and void. (Ord. 1708 § 1, 1997).