Section 9
SEC. 9. Upon the acceptance of this franchise, within six months from and after the passage of this Act, the grantee or his successors or assigns shall deposit in the Insular Treasury or with any of its agents in the Province of Albay, within one month after such acceptance, one thousand pesos, or negotiable bonds of the United States or other securities approved by the Secretary of Commerce and Police, of the face value of one thousand pesos, as an earnest of good faith and a guarantee that they will begin the electric light, heat, and power system and may be completely provided with the necessary equipment therefor and ready to begin operation under this franchise: Provided however, That if such deposit is in cash, it shall be deposited at interest in some bank, and the interest shall be paid by the Insular Treasury to the grantee or his successors or assigns, on application: And provided, further, That in case the deposit made in the Insular Treasury or with any of its agents in the Province of Albay consists in negotiable bonds of the United States or in other interest-bearing securities, the interest shall be collected by the Insular Treasurer and paid to the grantee or his successors or assigns, on application by the latter. In case such grantee, his successors or assigns, shall fail, refuse or neglect, unless prevented by fortuitous cause or force majeure, the public enemy, usurped or military power, martial law, riot, civil commotion or other inevitable cause, to commence the work for the electric light, heat and power service within six months from the date of the passage of this Act, or shall fail to provide the necessary equipment and be ready to operate, within eighteen months after the passage of this Act, in accordance with the terms of this franchise, then the deposit prescribed in this section and in the possession of the Insular Treasurer, whether in cash, bonds, or other securities, shall be forfeited to the municipal government of Albay, or divided in three equal parts between the three municipalities, in the event that the forfeiture takes place after the three municipalities at present making up the municipality of Albay have been declared such by competent authority, as damages for said failure. In case the grantee, his successors or assignsbegin to operate the electric light, heat and power service, or are ready for operation under this franchise, within six months after the passage of this Act, the deposit provided for in this section shall be returned by the Insular Government to said grantee, his successors or assigns: Provided, however, That the operation of such electric light, heat and power service under this franchise anywhere within the limits of the municipality of Albay, including its two districts of Daraga and Legaspi, shall be considered as the beginning of the operation of said service for the purposes of this Act: Provided, further, That the time during which such grantee, his successors or assigns have been prevented by any of the causes above referred to from carrying out the terms and conditions of this franchise, shall be added to the time granted by this franchise for the fulfillment of its conditions.