Los Angeles herald., 1905-07-23
7-22-s1 lot

fled, this franchise shall be forfeited.
That the said grantee and its
life of this franchise, pay to the City Of
Los Angeles, In lawful money of the
United States, two per cent of the gross
annual receipts Of such grantee and its
successors and assigns, arising from the
use, operation or possession of this
franchise. No percentage shall be paid
for the. first five years succeeding the
date of this Ordinance, but thereafter
such percentage must be payable an
nually and this franchise is to be for
feited by failure to make the pay
merits provided for. The amount of the
gross annual receipts of the grantee Of
this franchise and It's successors and
assigns, arising from it's use, operation
or possession, shall be deemed and un-
derstood to be, and shall be, the total
gross earnings collected or received, or
In any manner gained or derived by the
grantee of this franchise, or its. sue,
cessors or assigns, from the use of said
pipe line, and from or on account or
the carriage or transmission of oil
through the same. And It shall be the
and It's successors and assigns to file
with the City Clerk of the City of Los
Angeles, within thirty days after the
of the granting of said franchise, and
within thirty days after the expiration
of each and every year thereafter, a
statement, verified by the oath OF the
manager or presiding officer of said
grantee, or it's successors and assigns,
showing the total gross receipts and
gross earnings collected or received, or
in any manner gained or derived by the
said grantee, or its successors or as
signs, during the preceding twelve
months from the use of said pipe line
and from, or on account of the carriage
or transmission of oil through the same.
And within ten days after the time for
filing the aforesaid statement It shall
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-
Grafton or possession of this franchise,
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-
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 Immediately 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 it's successors
and assigns from further use of the
streets of said city under said franchise,
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
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 it's sue
cessors or assigns, shall not sell, trans.
fer or assign said franchise, or any of
the rights or privileges granted hereby,
in writing, filed in the office of the
City Clerk of the City of Los Angeles;
and provided, further, that nothing in
said franchise cont ined 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 naons
said.
That the City of Los Angeles shall
have the right, at the expiration of the
lines and all properties in any of the
streets hereinbefore mentioned, belong
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 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
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
traitors so appointed. Said arbitrators
shall be appointed within thirty days
after the declaration by, the city of its
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
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
of arbitrators shall be filled by the
party who made the original appoint
of the arbitrators must be made and
filed with the City Clerk of said city
within three months after their APP
pointment, and a majority of the arbi-
such award.
The amount of the valuation of said
BY the sbs
by the city to said grantee, or his or
it's successors or assigns, in lawful
money of the United States, upon the ex-
piratton of the aforesaid period of
twenty-one years, or II the award of
the arbitrators shall not have been
made and filed at least two, months be-
fore the expiration of said period of
twenty-one years, then within two
months after the filing of said award.
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-
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 it's 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 In writing, will be received
for said franchise up to eleven o'clock
in the forenoon of the twenty first day
OF August, 1905; that the bids received
Will be opened at that time; that all
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: