SECT. 5. This act shall not take effect until said company, at an annual meeting, or at a special meeting duly notified for that purpose, shall have assented to the provisions thereof, and shall have executed to the Commonwealth a bond, in such form as the attorney-general prescribed on the issuing of scrip to the Western Railroad Corporation, conditioned, that the Troy and Greenfield Railroad Company shall comply with the provisions of this act, and shall faithfully expend the proceeds of said scrip as herein provided, and shall indemnify and save harmless, the Commonwealth, from all loss or inconvenience on account of said scrip, and that said company shall well and truly pay the principal sum of said scrip, punctually when the same shall become due and payable, or such part thereof as the sinking fund aforesaid shall be insufficient to pay, and the interest thereon semi-annually, as the same shall fall due, and shall also assign to the Commonwealth, by suitable instrument or instruments, of the same form with that or those prepared by the attorney-general on the issuing of scrip to the Western Railroad Corporation, the entire railroad, with its income, and all the franchise and property to them belonging, the whole thereof to be held by the Commonwealth as a pledge or mortgage to secure the performance of all the conditions of said bond: _provided_, _however_, that the Commonwealth shall not take possession of said pledged or mortgaged property, or any part thereof, under or by virtue of said mortgage, unless for some substantial breach of some condition of said bond. SECT. 6. In addition to the security provided in the preceding section, the said company shall assign all the interest they now have, or may hereafter obtained, in the Southern Vermont Railroad Company. SECT. 7. The Troy and Greenfield Railroad Company are authorized, and at any time prior to the execution of said mortgage, and within one year from the passage of this act, to alter the present location of their road: provided, that the tunnel shall be located and constructed within the limits prescribed by the first section of this act. SECT. 8. The time for completing the Troy and Greenfield Railroad is hereby extended, for the additional term of six years. SECT. 9. When the Commonwealth shall have advanced to said company, said bond or scrip to the amount of five hundred thousand dollars, the legislature may elect two directors of said company, who shall hold office for the same time, be elected in the same manner, and receive compensation to the same amount as the state directors of the Western Railroad Corporation, but neither of them, while holding such office, shall serve as a director of any other railroad company. [_Approved by the Governor, April 5, 1854._ [1855.--Chapter 394.] AN ACT to authorize certain towns in the Counties of Franklin and Berkshire to subscribe to the Capital Stock of the Troy and Greenfield Railroad Company. _Be it enacted, &c._