Section 9
SEC. 9. As a condition of the granting of this franchise the grantees shall execute a bond in favor of the Government of the Philippines in the sum of thirty thousand pesos, in form and with sureties satisfactory to the Secretary of Public Works and Communications, conditioned upon the faithful performance of the grantees' obligations hereunder during the first three years of the life of this franchise. If after three years from the date of the approval of this Act, the grantees shall have fulfilled said conditions, or as soon thereafter as the grantees shall have fulfilled the same, the bond aforesaid shall be cancelled by the Government.