§ 5. Acceptance of transfer.

The Grantee shall file its written acceptance of this franchise with the City Secretary within thirty (30) days from the date of the passage hereof and shall thereupon be bound by all of the terms and conditions hereof. The franchise herein granted shall commence and inure to the benefit of the Grantee, effective immediately, with the filing of such written acceptance hereof by Grantee. The Grantee shall not commence any work or construction of any type within the right-of-way limits of any street or public property until the final passage and acceptance of this franchise.