Los Angeles herald., 1905-08-08

omission or refusal by said grantee, or
it's successors or assigns. to file said
verified statement, or to pay the said
percentage of the said gross annual re-
cefpts, at the times and in the manner
hereinbefore provided, shall ipso facto
work a 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 imm ediately ipso facto effect a
forfeiture thereof and the said city, by
it's 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,
and said grantee and it's successors and
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
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
fer or assign said franchise, or any of
except. by 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
strued to grant to said grantee, or its
successors or assigns. any right to sell,
transfer or assign said franchise. or any
granted. except in the manner afore
said.
That the City of Los Angeles shall
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
4 n int a nr
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
by resolution of the City Council passed
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 arbitrators, of whom one shall be
appointed by the city. one by the said
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
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-
traitors who agree thereto may make
such award.
The amount of the valuation of said
as hereinbefore provided shall be paid
! by the city to said grantee, or his or
III. It's successors 81, zee $50 s., or assigns, In lawful
| piration of the aforesaid period of
twenty-one years, or, if the award of
the arbitrators shall not have been
fore the expiration of said period of
twenty-one years then within two
months after the filing of said award
| Upon the making of said payment the
title and right of possession Of ali said
property shall pass TO the City OF Los
Angeles
That any neglect. failure or refusal
said franchise shall thereupon immedi-
| ately ipso facto effect a forfeiture
thereof and the said city. by its city
Council, may thereupon declare said
| franchise forfeited, and may exclude
/ said grantee, or his or its successors
ana assigns, from further use of the
streets of said city under said franchise.
and said grantee and his or its success
ors and assigns shall thereupon and i'm
mediately surrender all rights In and to
/ the same, and said franchise shall be
deemed and shall remain null, void and
of no effect.
Notice is also hereby given that
sealed bids in writing, viii be received
Tor said franchise up to eleven o'clock
IN the forenoon of the fifth day OF
September 1905; that the bids received
bids must be for the payment OF a
stated sum In gold coin of the United
States; and that the franchise will be
struck off, sold and awarded to the
person, firm or corporation who shall
make the highest cash bid therefor;
provided. only, that at the time OF
opening said bids any responsible per-
son, firm or corporation, present or
represented, may bid for said franchise
sum not less than ten per cent above
that said bid so made may be raised