Section 7
SEC 7. As a guaranty that this franchise has been accepted in good faith and that within nine months from the date of the passage of this Act, the grantee, his successors or assigns, will begin the business of transmitting messages by telephone and will be fully equipped and ready to operate according to the terms of this franchise fifty telephones in the Province of Occidental negros, the said grantee shall deposit at the time of such acceptance, with the Insular Treasurer, 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: Provided, however, That if the deposit is made m money the same shall be deposited at interest in some interest-paying bank approved by the Secretary of Commerce and Police, and all interest accruing- and due on such deposit shall be collected by the Insular Treasurer and paid to the grantee, his succcessors or assigns, on demand: And provided further, That if the deposit made with the Insular Treasurer be negotiable bonds of the United States or other interest-bearing securities approved by the Secretary of Commerce and Police the interest on such bonds or securities shall be collected by the Insular Treasurer and paid over to the grantee, his successors or assigns, on demand. Should the said grantee, his successors or assigns, for any other cause than the act of God, the public enemy, usurped or military power, martial law, riot, civil commotion, or inevitable cause, fail, refuse, or neglect to begin within nine months from the date of the passage of this Act, the business of transmitting messages by telephone, or fail, refuse, or neglect to be fully equipped and ready to operate within nine months from the date of the passage of this Act fifty telephones in the Province of Occidental Negros according to the terms of this franchise, then the deposit prescribed by this section to be made with the Insular Treasurer, whether in money, bonds, or other securities, shall become the property of the Insular Government, as liquidated damages caused to such Government by such failure, refusal, or neglect, and thereafter no interest on said bonds or other securities deposited shall be paid to the grantee, his successors or assigns. Should the said grantee, his successors or assigns, begin the business of transmitting messages by telephone and be ready to operate according to the terms of this franchise fifty telephones in the Province of Occidental Negros within nine months from the date of the passage of this Act, then and in that event the deposit prescribed by this section shall be returned by the Insular Government to the grantee, his successors or assigns: Provided, however, That all the time during which the grantee, his successors or assigns, may be prevented from carrying out the terms and conditions of this franchise by any of said causes shall be added to the time allowed by this franchise for compliance with its provisions.