Section 10
SEC. 10. Upon the written acceptance of the terms and conditions of this franchise, the grantee shall deposit in the Insular Treasury one thousand pesos, or negotiable bonds of the United States or other securities approved by the Secretary of Commerce and Communications, of the face value of one thousand pesos, as an earnest of good faith in accepting this franchise and a guaranty that, within six months from the date of the granting by the Public Service Commission of a certificate of public necessity and convenience authorizing the construction and operation by the grantee of a telephone service in any municipality or municipalities of the Province of Davao the grantee, its successors or assigns will be completely provided with the necessary equipment and ready to begin operation in accordance with the terms of this franchise: Provided, That if the deposit is made in money the same shall be deposited at interest in some interest-paying bank approved by the Secretary of Commerce and Communications, and all interest accruing and due on such deposit shall be collected by the Insular Treasurer and paid to the grantee, its successors or assigns, on demand: And provided, further, That if the deposit made with the Insular Treasurer be in negotiable bonds of the United States or other interest bearing securities approved by the Secretary of Commerce and Communications, the interest on such bonds or securities shall be collected by the Insular Treasurer and paid over to the grantee, its successors or assigns, on demand. Should the said grantee, its 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 twelve months from the date of the granting of said certificate of public necessity and convenience, the business of transmitting messages by telephone, or fail, refuse, or neglect to be fully equipped and ready to operate, within twelve months from the date of the granting of said certificate of public necessity and convenience, the telephone service in the municipality or municipalities of the Province of Davao applied for by the grantee 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, its successors or assigns. Should the said grantee, its successors or assigns, begin the business of transmitting messages by telephone and be ready to operate according to the terms of this franchise, the telephone service in the municipality or municipalities of the Province of Davao within twelve months from the date of the granting of said certificate of public necessity and convenience, then and in that event the deposit prescribed by this section shall be returned by the Insular Government to the grantee, its successors or assigns, upon recommendation of the Public Service Commission, as soon as the telephone service in the municipality or municipalities of the Province of Davao applied for by the grantee has been installed in accordance with the terms of this franchise: Provided, further, That all the time during which the grantee, its 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.