Section 9
SEC. 9. At the time of filing the acceptance mentioned in the last preceding section, the grantee shall deposit in the Insular Treasury one thousand five hundred pesos Philippine currency as an earnest of the good faith of his application, and within one year thereafter he shall deposit in the Insular Treasury the additional sum of thirteen thousand five hundred pesos Philippine currency as a guaranty of the faithful performance of the conditions of this franchise, and in case said deposit of thirteen thousand five hundred pesos Philippine currency is not made within one year after the date of filing said acceptance, the sum of one thousand five hundred pesos already deposited shall be forfeited to the municipalities of San Fernando and Bacolor in equal shares. In case, after the deposit of said sum of thirteen thousand five hundred pesos, the work to be done under this franchise is begun within the time specified, but is not completed within the time provided, both said deposits may be forfeited to the municipalities of San Fernando and Bacolor, at the option of the Governor-General and this franchise shall become null and void. In case of the fulfillment of the conditions prescribed by this section, both said deposits of one thousand five hundred and thirteen thousand five hundred pesos shall be returned by the Insular Treasurer to the grantee, upon proper certificate of the district engineer of Pampanga of the fulfillment of said conditions: Provided, That if work shall be begun by the grantee within the time specified, the funds deposited may be returned to the grantee as the work progresses, in; monthly or quarterly installments, in the discretion of the municipal council concerned, in the proportion which the work done bears to the work to be done: Provided, further, That the Insular Treasurer may accept duly executed and satisfactory fidelity bonds of a fidelity company in lieu of the cash deposits by this section required.