Termination of franchise agreement.

The Mayor shall notify the franchisee in writing of any violations of the franchise agreement and establish a compliance schedule for correcting the violations. In the event that the compliance schedule is not met, the Mayor may terminate the franchise agreement after 60 days written notice to the franchisee of his intent to terminate the franchise agreement, setting forth the reasons for the termination. In the event of bankruptcy of the franchisee the Mayor shall terminate the franchise agreement, providing the franchisee with written notice of his action. In addition to default on the franchise agreement or bankruptcy of the franchisee, the Mayor may include in the franchise agreement, for the best interest of the District of Columbia, any other conditions and terms which shall constitute the basis for cancellation.