All franchises shall be signed by the Chairman of the Board and attested to by the Township Secretary. The franchise shall take effect after:
A. 
It has been accepted by the franchisee; and
B. 
The franchisee and the township have signed a franchise agreement and satisfied all conditions precedent set forth therein.
Upon acceptance of a franchise, the franchisee shall be bound by all terms and conditions contained herein, in the franchise agreement, and in its application, to the extent incorporated in the franchise agreement.