The grantee of said franchise, its successors and assigns, shall, during the term
for which the same is granted, pay to said County 2% of its or their gross annual
receipts arising from the use, operation or possession thereof; provided, however,
that no percentage shall be paid for the first five years succeeding the date of the
grant of said franchise, but thereafter such percentage shall be payable annually,
and if such payment shall not be made, such franchise shall be forfeited; provided,
however, that if said franchise be a renewal of a right already in existence the payment
of said percentage of gross receipts shall begin at once.
(Ord. 182, Sec. 6; Dec. 19, 1951)
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