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SEP -10 980 aou 44 PAGE 47.9 <br />financially feasible. Financially feasible shall mean that a fair and reason- <br />able rate to be charged by the Partnership for all its services under this <br />franchise; that such rate of return on the net valuation of its property <br />devoted thereto under efficient and economical management. The burden of <br />showing that a prospective service to the area is not financially feasible <br />shall.be the burden of the Partnership. <br />SECTION XII <br />The Partnership, or Partners of the Partnership does not sell or <br />transfer its interest to another nor transfer any rights under this franchise <br />to another without the approval of the Board, and provided further that no <br />such sale or transfer after such approval shall be effective until the vendee, <br />assignee or lessee has filed with the Board an instrument in writing reciting <br />the fact of such transfer and accepting the terms of this franchise and <br />agreeing to perform all of the conditions thereof. In any event, this <br />franchise shall not be transferrable and assignable until notice or request for <br />transfer and assignment shall be given by the Partnership to the Board in <br />writing, accompanied by a request from the proposed transferree, which <br />application shall contain information concerning the financial status and <br />other qualifications of the proposed transferee and such other information <br />as the Board may require. A public hearing shall be held on such request of <br />which notice shall be given by publication in a newspaper regularly published <br />in the County at least one time nor more than one month or less than one <br />week preceding such hearing. Certified proof of publication of such notice <br />shall be filed with the Board. Said hearing may thereafter -be continued from <br />time to time as determined by the Board. The consent by the Board to any <br />assignment of this franchise shall not be unreasonably withheld. Any sale or <br />transfer, by the Partnership or partners of the Partnership, taking place <br />contrary to the terms and conditions of this paragraph shall be considered by <br />the Board to be a default by the Partnership under this franchise agreement <br />and subject this franchise to termination. <br />-9- <br />M M r <br />GORDON 8. JOHNSTON, ATTORNEY AT LAW, VERO BEACH, FLORIDA <br />