Section 9
SEC. 9. Within thirty days after the plans of the tramway furnished by the grantee are returned to him by the Director of Public Works finally approved, the grantee shall file with the Secretary of Commerce and Communications his acceptance in writing of the franchise hereby granted, together with the certificate of public necessity and convenience required in section one of this Act, and shall at the same time deposit in the Insular Treasury the sum of two thousand pesos, or negotiable bonds of the same value approved by the Secretary of Commerce and Communications. This deposit of two thousand pesos shall be made as an earnest of the good faith of the grantee and that he will begin the construction of said tramway within two months from and after the said acceptance and will complete it and have it in operation for the public service in its entire extent within six months from and after the date of said acceptance: Provided, That if said construction is begun within the time specified, the sum deposited may be returned to the grantee as the work progresses, in monthly installments, in the proportion which the work done bears to the entire project: Provided, further, That if the work to be done under this franchise has not been begun within the period specified or completed within the time prescribed, the aforesaid deposit shall be forfeited to the Insular Government as damages for the breach of the contract involved in the acceptance of the franchise, and this franchise shall become null and void.