Los Angeles herald., 1905-08-09

omission or refusal by said grantee, or
its successors or assigns, to file said
verified statement or to paw the said
percentage of the said gross annual re-
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 imme 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 its 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
| 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
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
said franchise contained shall be con-
strued to grant to said grantee, or it's
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
lines and all properties in any of the
ing to the grantee of said franchise. or
his or it's 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
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
grantee or his or its successors in in
terest, and the third by the two arbi-
traitors so appointed Said .arbitrators
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. new board of three ar
bitrators shall be appointed in the same
manner as hereinbefore prescribed to
erty. The board of arbitrators shall
Immediately upon the appointment OF
its members enter upon the discharge
of arbitrators shall be filled by the
party who made the original appoint
ment to the vacant place. The award
filed with the City Clerk of said city
within three months after their ap-
pointment, and a majority of the arbi-
traitors who agree thereto may make
such award.
The amount of the valuation of said
property determined by the arbitrators
by the city to said grantee. or his or
its successors or assigns, in lawful
money of the United States, upon the ex-
twenty years. or. If the award of
the arbitrators shall not have been
made and filed at least two months be-
twenty-one years. then within two
months after the filing of said award.
Upon the making Of said payment the
property shall pass to the City of Los
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
franchise forfeited, and may exclude
said grantee, or his or its SUCCESSORS
and assigns; from further use of the
oAittNH VI oeAAh CITY uilutI Sdlu
and said grantee and his or its success
ors and assigns shall thereupon and im-
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, I'm writing, will be received
for said franchise up to eleven o'cloc k
in the forenoon OF the fifth day OF
September. 1905; that the bids received
will be opened at that time: that all
bids must be for the payment of a
States; and that the franchise will be
struck off, sold and awarded 10 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
a sum not less than ten per cent above
the highest sealed bid therefor. and