§ 2. Grant of authority.

Subject to the terms, conditions and provision of this Franchise, The City ("Grantor") hereby grants to Seaway ("Grantee"), the right, privilege and franchise for the purpose of laying, maintaining, constructing, protecting, operating, and replacing therein and thereon pipelines and all other appurtenant equipment to transport crude oil within the City corporate limits and the extraterritorial jurisdiction, as such limits may be amended from time to time during the term of the franchise, said consent being granted for an initial term of 25 years.