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) possession o f said perm it, an amount which s h a ll he equal to e ig h t y __ _ per cent (80$) o f the t o t a l annual charges fo r dhckage and wharfage -??II I '»..... . chargeable at said wharf under the schedule o f rates th e re fo r as the same may he fix e d from time to time hy said c it y , or otherwise by law ; provided, however, th at such compensation s h a ll not in any event he le s s than f i f t e e n thousand D olla rs ($15,000.00) fo r any year, ex-cept as h e re in a fte r provided. Such compensation s h a ll he subject to readjustment at the end o f each succeeding ten (10) years, or fr a c tio n . .• —---- ^-ir-im l .......... n«.T»-n»'.i--L' th e r e o f, o f the term o f th is perm it, as provided hy the charter o f said c it y , hut in no case s h a ll such adjustment decrease the amount o f such compensation, except as h e re in a fte r provided. Seventh: Upon the completion o f an adequate tr a n s it shed s ix hundred (600) fe e t in len gth and one hundred (100) fe e t in width upon and adjacent to that part o f said wharf now constructed, and o f the r a ilr o a d tracks and dredging h erein mentioned and required to he done hy said c it y , the Board o f Harbor Commissioners s h a ll n o t ify said grantee, hy n o tice in w r itin g , o f such completion, d e liv e re d to the agent o f said American-Hawaiian Steamship Company sta tio n ed at lo s An geles, whereupon, and w ith in ten (10) days th e r e a fte r, said company s h a ll enter in to occupancy o f the berth in g and other p r iv ile g e s hereby granted; upon said occupancy, the Board o f Harbor Commissioners, hy order entered upon i t s minutes, s h a ll make a record o f the date th e re o f; hut nothing h erein contained s h a ll relieve said c it y from i t s o b lig a tio n to complete a l l improvements h erein mentioned w ith a l l due d ilig e n c e . Within t h ir t y (30) d a y s a f t e r t h e e x p i r a t i o n o f t h e f i r s t y e a r from and a ft e r the occupation o f said wharf hy the grantee, and w ith in t h ir t y (3 0 ) days a ft e r the ex p ira tio n o f each year th e r e a fte r , the grantee o f th is permit s h a ll f i l e w ith the Board o f Harbor Commissioners a statement v e r if ie d h y the oath o f said grantee, or hy the oath o f the manager or p resid in g o f f i c e r o f said grantee, or o f the managing agent o f the said grantee at the C ity o f Los A n geles, showing the t o t a l charges fo r wharfage and dockage at said wharf during the preceding - 5-