Los Angeles herald., 1905-08-07

hereinbefore provided. And any neglect
omission or refusal by said grantee, or
it's successors or assigns, to file said
verified statement, or to pay the said
ceipts, at the times and in the manner
hereinbefore provided, shall ipso facto
work forfeiture of the franchise here
in granted, and of all rights Hereunder
to the City of Los Angeles.
| That any neglect, failure or
refusal to comply with any of the CON
ditions of this franchise shall there
upon Immediately ipso facto effect a
forfeiture thereof, and the said city, by
its. City Council. may thereupon declare
this franchise forfeited, and may ex-
clude said grantee and it's successors
and assigns from further use of the
streets of said city under said franchise
assigns shall thereupon and immedi-
ately surrender all rights in and to the
same, and this franchise shall be
deemed and shall remain null, void and
of no effect. Provided, however, that
said grantee, its successors or assigns
shall have the right to remove said pipe
from said streets, subject to such regu-
lations as the said City Council may
That said grantee. or it's sue
cessors or assigns, shall not sell, trans
fer or assign said franchise, or any OF
the rights or privileges granted hereby,
except by a duly executed instrument
in writing, filed in the office of the
City Clerk of the City of Los Angeles
and provided, further, that nothing in
said franchise contained shall be con-
strued to grant to said grantee, or its
successors or assigns. any right to sell
transfer or assign said franchise, or any
of the rights or privileges thereby
granted, except in the manner afore-
said.
have the right at the expiration of the
aforesaid period. to purchase the pipe
lines and all properties in any. of the
streets hereinbefore mentioned belong
ing to the grantee of said franchise or
his or its successors in interest, laid or
constructed under the grant of said
franchise or used by said grantee or
his or it's successors in interest in the
exercise of said franchise, at a fair
valuation, provided that the option TO
make such purchase shall be declared
not more than six months prior to the
expiration OF said period of twenty-one
years.
The valuation of the property covered
by the aforesaid option or right to pur-
chase shall be determined by board OF
three arbttrators, of whom one shall be
grantee or his or it's successors in in
terest, and the third by the two arbi-
traitors so appointed. Said arbitrators
shall be appointed within thirty days
after the declaration by the city of its
option TO purchase said property. In
case said arbitrators fail to make and
file an award within the time herein
after limited a new board of three ar
bitrators shall be appointed in the same
manner as hereinbefore prescribed, to
determine the valuation OF said prop
erty. The board of arbitrators shall
Immediately upon the appointment OF
its members enter upon the discharge
of its duties Any vacancy in the board
of arbitrators shall be. filled by the
party who made the original appoint
ment TO the vacant place. The award
OF the arbitrators must be made and
! filed with the City Clerk of said city
within three months after their ap-
| pointment, and a majority OF the arbl-
traitors who agree thereto may make
such award
The amount OF the valuation of said
property determined by the arbitrators
as hereinbefore provided shall be paid
by the city to said grantee, or his or
It's successors or assigns, In lawful
money Of the United States, upon the ex-
piration OF the aforesaid period of
twenty-one years, or. IL the award OF
the arbitrators shall not have been
made and filed at least two months be-
fore the expiration Of said period OF
tWent ty-one years. then within two
months after the filing OF said award.
Upon the making Of said payment the