Section 10
SEC. 10. Upon the written acceptance of the terms and conditions of this franchise, the grantee shall deposit in the National Treasury one thousand pesos, or negotiable bonds of the Government 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 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 the Province of Lanao and in the Cities of Dansalan and Iligan, 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 Public Works and Communications, and all interest accruing and due on such deposit shall be collected by the Treasurer of the Philippines and paid to the grantee, its successors or assigns, on demand: And provided, further, That if the deposit made with the Treasurer of the Philippines be in negotiable bonds of the Government of the Philippines or other interest bearing securities approved by the Secretary of Public Works and Communications, the interest on such bonds or securities shall be collected by the Treasurer of the Philippines 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 Province of Lanao and in the Cities of Dansalan and Iligan applied for by the grantee according to the terms of this franchise, then the deposit prescribed by this section to be made with the Treasurer of the Philippines, whether in money, bonds, or other securities, shall become the property of the National 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 Province of Lanao and in the Cities of Dansalan and Iligan 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 National Government to the grantee, its successors or assigns, upon recommendation of the Public Service Commission, as soon as the telephone service in said province and cities 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.