Section 9
SEC. 9. As a condition of the granting of this franchise the grantee shall execute a bond in favor of the Government of the Philippines in the sum of five thousand pesos, in form and with sureties satisfactory to the Secretary of Public Works and Communications, conditioned upon the faithful performance of the grantee's obligation hereunder during the first three years of the life of this franchise. If after three years from the date of the acceptance of this franchise, the grantee shall have fulfilled the same, the bond aforesaid shall be cancelled by the Secretary of Public Works and Communications.