If any action shall be instituted or prosecuted directly or indirectly by the grantee of any such grant or by any of its stockholders, to set aside or have declared void any of the terms of any such grant, the whole of such grant may be thereupon forfeited and annulled at the option of the City Council to be expressed by ordinance. All such grants shall make provision for the declaration of a forfeiture by the City Council for the violation by the grantee of any of the terms thereof.