Los Angeles herald., 1905-08-05

determined and computed in the manner
hereinbefore provided. And any neglect.
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
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 Immediately 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 it's successors
and assigns from further use of the
and said grantee and its 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,
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
! his or its 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
years.
The valuation of the property covered
| by the aforesaid option or right to pur-
chase shall be determined by a board OF
/ three arbttrators. 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
| shall be appointed within thirty days
after the declaration by the city of its
option 70 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
Dltrators shall be appointed in the same
manner as hereinbefore prescribed, to
determine the valuation of said prop
erty. The board of arbitrators shall
mmedlately upon the appointment OF
It's members enter upon the discharge
OF its duties. Any vacancy i'm 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 APP
pointment, and majority of the arbi-
trators who agree thereto may make
lsuch award.
The amount Of the valuation OF said
property determined by the arbitrators
as hereinbefore provided shall be paid
by the city to said grantee. or his or
its successors or assigns, I'm lawful
money OF the United States. upon the ex-
piration OF the aforesaid period OF
twenty, one years, or, II the award OF
the arbltrators shall not have been
fore the expiration OF said period Of
f'-s@etF-ene years. then within two