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\ balance of purchase price at rate of 4-1/2$ per annum from date of said agreement until paid, payable at rate of not less than •:!p4-5 per month, commencing June 1, 1947, until said sum together with taxes and assessments, shall have been paid; excepting and reserving unto LVL&WCo« all minerals and all mineral rights, in­cluding oil and gas and rights thereto, without right of entry; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of Vice President -Strong and Secretary in executing lease agreement N.L.D, 1885, dated June 1, 1947, with J. E. Hughes and P. J. Purdy, a copartnership doing business as Nevada Iron &. Metals, Ltd,, Lessee, covering premises on North Main Street, Las Vegas, Nevada, for use as ofiice and scale site; term beginning July 1, 1947, and extending to July 1, 1952; consideration ^34 per month, payable monthly in advance; subject to termination by either party upon 30 days* written notice; be, and the same is hereby, ratified, approved and con­firmed. On motion duly seconded, it was RESOLVED, that the action of Vice President Strong in executing rider, C.L.D. 8071, dated June 24, 1947, extending, to July 12, 1952, term of agreement Audit 10202, with Richfield Oil Corporation, dated June 12, 1942, being license covering construc­tion, maintenance and operation of 2-1/2” waste water pipe line between Cherry Ave, and Walnut Ave„, Long Beach, Calif., as amena-ed by letter agreement C.L.D. 7409, dated July 12, 1946, providing for annual rental of ',,>39,79 Instead of 061.20, account rights.. -7-