Section 26
SEC. 26. When the forfeiture of the franchise shall have become final, either by failure to apply to the proper court within the time prescribed or by a final decision of the courts confirming the forfeiture, the municipality of Daet shall take possession of the tramway and all property necessary for its proper operation and management and shall sell the same at public auction for cash to the highest bidder therefor, after giving notice of such sale by posting an announcement thereof in Spanish and English for sixty clays prior to the sale at the door of the municipal building and at the principal office of the tramway, and by publishing a notice of such sale for sixty days prior to the sale in at least one paper published in English and one published in Spanish in the city of Manila. The notice shall set forth the fact of the forfeiture of the franchise, a general description of the property to be sold, and the date, hour, and place of sale. The proceeds of the sale shall be paid to the grantee, his successors, or assigns, less the costs and expenses of sale.