1143 ORD GRANTING FRANCHISE TO HEREINAFTER NAMED GRANTEE FOR PRIVILEGE OF OPERATING MOTOR VEHICLES ON STREETS ETC OF COP

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.w. ~ ~ action shall survive in ease of death of the in3nred person for the benefit of the beneficiary of such person, and that such bond or policy shall be subject to succes- sive revoveries during the time that such bond or policy may contirna.e in effect. Sai,d bottd or policy of insurance to furthex provide that no action lie thereon or agai.nst the sureties or surety thereon until m>re than thirty days af"ter a final judgaent in favor of said judgment creditor against the principal, not pending on appeal or writ of error is and remains unsatisfied. No action for the indemnity against loss provided by said bond or said policy of ingurance shall lie against the sureties on said bond or against the insurance company unless th e action upon which such judgnent i s sought to be collected was brought within twenty-five months from the date of the act complained of, unless this provision be contrary to State laws which shall govern. Z'he said bond shall be executed by two or more good and suffi- cient sureties if natureal persons are used as scireties, both of wkmm shall reside in Lamar County, Texas, or by a solvent surety company or insurance company authorized to do business i.n the State of Texas. ; ~ Provided, hovoever.. that in lieu of the insurance or bond provided for herein, the grantee ma.y deposit with t he City Auditor United States Government Honds, United States Government Treasury Certificat es, or City of Paris bonds, or cash, in t he sum or faoe amount of Ten Thousand ($I0,000.00) Dallars, and upon the receipt of such securities, or cash, it sha11 be the duty of the City Secretary to issue a receipt thereforp a copy of -which shall be furnished to the grantee and another copy to be retained by the City Secret ary. The City Secretary., upon presentation of such receipt, shaJ1 thereupon certify to the Mayor that the grantee has complied with this section. It is expressl,y providsd., however., that in the event of impairment of this security, or the casY► de- posited herein, by a jud,gnent -which remains unsatisfied or partially depletes this amount, that it sha11 be the duty of the grantee herein to repleaish this fund by de- posit of additional cash or additional security of the character mentioned herein,, within ten (10) d,ays after being notified to do so by the Mayor or City Secretary. It is disti.nctly understood that the Mayor or other officer exercising the same or similar powers., may from time to time require the grantee to furnish detailed information as to the nature, amount and cha.racter of any and all claims that are being asserted against the sai.d grantee by members of the public. If at any tirne the Mayor, or such other officer acting in a similar capacity, considers the protection provicLed by the grantee to ths general public inadequate, then., in that evef4p such officer shall have