The franchise shall terminate without further action by the city at the end of the term set forth in Section 5.12.060; provided, however, that the city, at or before the end of the term, retains the exclusive power to grant an extension, or a renewal of the franchise to the grantee. Any termination or revocation of the franchise prior to its term shall be executed in accordance with Section 547 of the Cable Act. (Ord. 93-03 §4 (part), 1993)