69-14-909. Time limit for construction of elevator or warehouse. Any person, firm, or corporation availing itself of the provisions of 69-14-901 through 69-14-911 shall, within 60 days after the amount to be paid for the easement acquired thereunder is finally determined, by agreement or by proceedings in court, commence the erection of the warehouse or elevator mentioned in the application and complete the same within 90 days thereafter. In case of failure to comply with the provisions of this section, such person or persons shall be deemed to have abandoned the right acquired, and the part or portion of the railroad right-of-way described in the application shall be subject to selection by other applicants who may desire to avail themselves of the provisions of 69-14-901 through 69-14-911.