Section 8
SEC. 8. Upon the acceptance of this franchise as provided in the preceding section, the grantee shall deposit in the National Treasury or with any of its agents in the Province of Surigao one thousand pesos or negotiable bonds of the Republic of the Philippines or other securities approved by the Secretary of Public Works and Communications of the face value of one thousand pesos, as an earnest of good faith and a guarantee that he will begin the electric light, heat and power business and may be completely provided with the necessary equipment therefore and ready to begin operation in accordance with the terms of this franchise: Provided, however, That if such deposit is in cash, it may be made with some official depository of the Government in the name of the grantee and subject to the order of the National Treasurer, who shall retain the evidence of the deposit so made. In this case, as well as in the case of the deposit being made in negotiable bonds or other securities, as provided in this section, the interest of the cash deposit or of the bonds or securities deposited, if any, shall belong to the grantee. In case such grantee shall fail, refuse or neglect, unless prevented by fortuitous cause or force majeure, public enemy, usurpation by military power, martial law, riot, civil commotion, or other inevitable cause, to commence the work for the electric light, heat and power service within six months from the date of acceptance of this franchise, or shall fail to provide the necessary equipment and be ready to operate within eighteen months after the date of such acceptance, in accordance with the terms of this franchise, then the deposit prescribed in this section and in the possession of the National Treasurer, whether in cash, bonds or other securities, shall be forfeited to the Provincial Government of Surigao, as damage for the breach of implied contract involved in the acceptance of this franchise, and this franchise shall be null and void. In case the grantee begins to operate the electric light, heat and power service and is ready for operation under this franchise, within the time limits specified, the deposit provided for in this section shall, upon. recommendation by the Public Service Commission or its legal successor, be returned by the National Treasurer to said grantee: Provided, That the time during which such grantee has been prevented by any of the causes above referred to from carrying out the terms and conditions of this franchise shall be added to the time granted by this franchise for the fulfillment of its conditions.