§ 2. Granted.

There is hereby granted to the Jacksonville Electric Authority (herein called the "Grantee"), its successors and assigns, a nonexclusive right, privilege and franchise to construct, maintain and operate, in, under, upon, over and across the present and future streets, alleys, bridges, easements, and other public places lying within the unincorporated area of Clay County, Florida (herein called the "Grantor"), and any successor under the laws of Florida, in accordance with sound and established engineering practices relating to electrical construction and maintenance, electric lights and power facilities, including conduits, poles, wires, transmission lines, substations and other necessary improvements for the purpose of supplying electricity to the Grantor and to the consumers located within the boundaries of Clay County and also to consumers beyond the Clay County limits. This franchise shall commence on the date of acceptance by the Grantee and shall continue for a period of four (4) years and thereafter shall renew on a year-to-year basis until terminated at the option of either party by the giving of written notice to the other party not less than ninety (90) days prior to the actual date of termination.