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No franchise shall be granted for a period longer than twenty years, or without reserving to the city such fair fee arising from the use thereof as shall be fixed in the grant of such franchise. This compensation shall not exempt the grantee or his assignees from any lawful assessment upon his property or from other tax not related to the franchise privilege, or pertaining to the physical operation thereof, but shall exempt the grantee or his assignees from any occupancy tax, license tax, permit charge, inspection fee, or similar tax on the privilege of doing business or in connection with the physical operation thereof, as shall be fixed in the grant of any franchise. The franchisee fee established by ordinance shall be paid as provided and be subject to mutual periodic renegotiation, and failure to pay such fee shall result in forfeiture of franchise at the option of the council.