Los Angeles herald., 1905-08-02

7-24, S-Z 1Ot
filing the aforesaid statement It shall
be the duty of said grantee, or it's sue
cessors or assigns. to pay to the City
Treasurer of the City of Los Angeles
the aggregate sum of the said percent
age upon the amount of the gross an
nual receipts arising from the use, op-
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
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 it's successors and
assigns shall thereupon and immedf-
ately surrender all rights in and to the
deemed and shall remain null, void and
of no effect. Provided. however, that
said grantee, it's successors or assigns,
from said streets, subject to such regu-
lations as the said City Council may
impose.
That said grantee, or it's 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
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
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
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 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 herein before prescribed, to
n dnfn f1A fraw. rNH Il
erty. The board of arbitrators shall
Immediately upon the appointment of
It's members enter upon the discharge
of its duties. Any vacancy in the board
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
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
money of the United States upon the ex-
piration of the aforesaid period of
the arbitrators s f' shall not e have awsfb BEEN
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
Angeles
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
from NJ
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
Notice is also hereby given that
sealed bids, In writing, win be received
for said franchise up to eleven o'clock
In the forenoon Of the fifth day OF
will be opened at that time; that all
bids must be for the payment OF
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 therefore
peniiGeu ppeniGS ssid bids any a. ne e
son, firm or corporation, present or
represented, may bid for said franchise
2 sum not less than ten ten per cent above
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
chiae shall be struck off, sold and
awarded by said City Council TO the
highest bidder therefor in gold coin Of
the United states. Each sealed bid must
be accompanied with cash, or a certi-
fled check payable to the City Treas
urer ot the City Of Los Angeles, for
sealed bid will be considered unless
said cash. or check Is enclosed there
deposit at least ten per cent OF the
amount OF his bid with the City Clerk
before said franchise will be struck OF
70 him, and II he shall fail 70 make
not be received, and VIII be considered
as void, and said franchise will then