Los Angeles herald., 1905-08-11

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
to the City of Los Angeles
That ally neglect, failure or
refusal to. comply with any of the con-
ditions of this franchise shall there
upon imm ediately ipso facto effect
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,
and said grantee and its successors and
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 assign s.
shall have the right to remove said pipe
| from said streets subject to such regu-
lations as the said City Council may
impose.
That said grantee. or its sue
cessors or assigns, shall not sell. trans
fer or assign said. franchise or any of
the rights or privileges granted hereby
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 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
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
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 a 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 it's
option to purchase said property. In
case said arbitrators fail to make and
file an award within the time herein
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
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
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 arbtrators
as hereinbefore provided shall be paid
by the city to said grantee. or his or
money of the United States upon the ex-
piratlon of the aforesaid period of
twentyione years, or, If the award of
made and filed at least two months be-
fore the expiration of said period of
twenty one years; then within two
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
said franchise shall thereupon immedi-
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
streets OF said city under said franohise'
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. will be received
for said franchise up to eleven O'clock
IN the forenoon of the fifth day OF
September, 1906 that the bids received
VIII be opened at that time. that a n
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
son, firm or corporation present or
represented, may bid for said franchise
a sum not less than ten per cent above
ne highest sealed bid therefor, and