Los Angeles herald., 1905-08-07

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
said franchise shall thereupon immedi-
ately ipso facto effect a forfeiture
thereof, and the said city, by it's City
Council, may thereupon declare said
franchise forfeited and may exclude
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 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
for 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
person. firm. or corporation who shall
make the highest cash bid therefor;
provided, only. that at the time of
opening 1isus said bids any responsible. per
represented, may bid for said franchise
a sum not less than ten per cent above
the highest. sealed bid therefor. and
that said bid so made may be raised
not less than ten per cent by any other
responsible bidder, and said bidding
may so continue until finally said fran
awarded by said City Council to the
highest bidder therefor in gold coin OF
the United States, Each sealed bid must
fled check payable to the City Treas
urer of the City of Los Angeles for
the full amount Of said bid, and no
said cash or check is enclosed there
with; and the successful bidder must
deposit at least ten per cent of the
before said franchise viii be struck off
to him, and If he shall fail to make
such deposit Immediately. his bid will
as void, and said franchise will then
and there be again offered for sale to
the bidder who shall make the highest
cash bid therefor subject to, the same
toned. Said procedure will be had un-
til said franchise is struck Off sold
and awarded to a bidder who shall
make the necessary deposit of al least
ten per cent of the amount of his bid.
as herein provided. Said successful
bidder shall deposit with the. City Clerk.
ceptance of his bid, the remaining nine
ty per cent of the amount thereof, and
in case he or It fails to do so, then the
said deposit heretofore made will be
forfeited, and the award OF said fran
chise will be void, and said franchise
will then and there by. said City CoUn-
cll Dt again OlIeTeQ TOT SAFE TO the
highest bidder therefor, in the same
manner and under the same, lestrlo-
tions as hereinbefore provided, aud in
case said bidder fails to deposit with
the City Clerk the remaining ninety
per cent of his bid within twenty four
hours after It's acceptance, the award
TO him of said franchise will be set
aside, and the deposit heretofore made
by him will be forfeited. and no fur
ther proceedings for the sale OF said
franchise will be had until the same
shall be readvertised for sale.
Notice is also hereby given that the
successful bidder for said franchise
must within five days after said fran
chise Is awarded to him or IT, lille with
the City Council a bond running to said
city in the penal sum of five thousand
dollars, with at least two good and suf-
ficient sureties, to be approved by said
City Council, conditioned that said bid
der shall well and truly observe, fulfill
and perform each and every term and
condition OF said franchise, and that in
case OF any breach of condition OF said
bond the whole amount OF the penal
sum therein named shall be taken and