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X extending to and including August SI, 1953, term of lease agree­ment Audit No. 10551, dated August 31, 1950, expiring August 51, 1952, with. Nevada Outdoor Advertising Co., Inc., covering sites for advertising signboards, Yermo, California; rental $50.00 per annum, payable annually in advance; subject to term­ination by either party upon not less than 50 days’ written notice; be, and the same is hereby, ratified, approved and con­firmed. On motion duly seconded, it was RESOLVED, that the action of Vice President Reinhardt and Secretary in executing agreement f,N nL t.D. 2595, dated August 18, 1952, between LVL&WCo., called "Company”, and Federal De­velopment Company, called "Subdivider", providing: 1 - Subdivider, at its expense, to furnish necessary materials and labor and to con­struct approximately 3980 lin. ft. of 6" cast iron water main and 110 lineal feet of 6” cast iron fire hydrant connections, to serve Westleigh Tract No. 5, Las Vegas, Nevada; 2 - Company to refund to Subdivider 55$ of the monthly revenue received by It from consum­ers located within said Westleigh Tract No. 5 taking service from the water mains so installed, for period of ten years from date of completion of said installation, or until Subdivider has been repaid the agreed-upon sum of $18,559.18 (exclusive of the cost of constructing said 110 lin. ft. of 6” cast iron fire hydrant connections), whichever first occurs; 3 - Company to own said water mains; 4 - Subdivider to furnish Company bill-of-sale for said water mains; 5 - Subdivider to furnish Company necessary ease­ments where said pipe lines are to be laid in other than dedicated streets and alleys; be, and the same is hereby, ratified, approved and confirmed. -2-