The rights, privileges, and franchise herein granted shall continue in full force and effect for the period of 15 years from and after the date Ord. 2020-015 becomes effective. Sections 13-4-2-1 et seq. shall be subject to any and all state and federal legislative enactments. The parties agree to negotiate the franchise fee percentage upon receipt by PNM of a proposal from the city following the completion of the tenth year of the term, provided that such negotiation of the franchise fee percentage shall not obligate or otherwise require PNM to agree to the city's proposal. The parties agree to negotiate an amendment pursuant to the process set out in § 13-4-2-8(D) for amendments and addenda. Any amendment of the franchise fee percentage would be effective only upon the mutual agreement of the parties and upon Council approval.