Los Angeles herald., 1905-08-10

omission or refusal by said grantee. or
its successors or assigns to file said
verified statement or to pay the said
percentage of the said gross annual re-
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 tmm ediately 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 its successors
and assigns from further use of the
streets of said city under said franchise,
and said grantee and its successors and
assigns shall thereupon and imm edi-
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-
impose.
That said grantee, or its sue
fer or assign said franchise or any of
the rights or privileges granted hereby,
except by a duly executed instrument
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.
That the City of Los Angeles shall
have the right, at the expiration of the
aforesaid period, to purchase the pipe
streets hereinbefore mentioned, belong
ing to the grantee of said franchise. or
his or it's successors In interest, laid or
franchise, or used by said grantee or
his or it's successors in interest in the
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 a board of
three arbitrators, of whom one shall be
appointed by, the city, one by the said
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
y
Immediately upon the appointment OF
its members enter upon the discharge
OF Its duties. Amy vacancy In the board
party who made the original appoint
ment to the vacant place The award
Of the arbitrators must be made and
within three months after their ap-
poin ntment, and a majority of the arbi-
traitors who agree thereto may make
The amount OF the valuation of said
property determined by the arbitrators
as heretnbefore provided shall be paid
its successors or assigns, in lawful
money Of the United States. upon the ex-
piration of the aforesaid period OF
the arbitrators shall not have been
made and filed at least two months be-
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 all said
property shall pass to the City OF Los
That any neglect. failure or refusal
to comply with any Of the conditions OF
ately ipso facto effect a forfeiture
thereof, and the said city, by it's City
Council, may thereupo1 declare said
said grantee, or his or its successors
and 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 Inn
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. will be received
in the forenoon OF the fifth day Of
September 1906 that the bids received
VIII be opened at that time; that all
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-
represented, may bid for said franchise
a sum not less than ten per cent above
the highest sealed bld therefor. and