Section 9
SEC. 9. As a condition of the granting of this franchise, the grantee shall execute a bond in favor of the grantor in the sum of fifty thousand pesos in a form and with sureties satisfactory to the Secretary of Commerce and Communications, conditioned upon the faithful performance of the grantee's obligations hereunder during the first five years of the life of this franchise. If, after five years from the date of the acceptance of this franchise the grantee shall have fulfilled said obligations, or so soon thereafter as the grantee shall have fulfilled same the bond aforesaid shall be cancelled by the Secretary of Commerce and Communications.