Section 5
SEC. 5. To guarantee the compliance of the conditions set forth in sections three and four hereof, the Philippine National Exposition, Inc., shall execute a bond in the amount of one hundred thousand pesos in favor of the Philippine Government in a form and with sureties satisfactory to the Secretary of Commerce and Industry. If the grantee shall fail to execute such bond and hold, conduct and operate the exposition and carnival in nineteen hundred and fifty-seven, this franchise shall be ipso facto cancelled.