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\ called "Company”, and J. H. Clark and Iris W. Clark, husband and wife as tenants in common, collectively called "Second Party", releasing and relinquishing to Second Party its claims to that portion of its easement lying westerly of a line five feet west of the center line of said water line across and through said property, with certain reservations and conditions; 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 ”N"L.D. 2782, dated February 19, 1954, between LVL&WCo., called "Company", and Michele Terlizzi, an individual, called "Subdivider”, provid­ing? 1 - Subdivider to pay Company $3,135.00, estimated cost of installing 475 ft. of 6” cast iron water main to serve portion of Block 1, Boulder Dam Homesite Addition, Tract No. 1, Las Vegas, Nevada; 2 - Company to refund to Subdivider at quarterly intervals 35% of the revenue received by it from consumers located on Lots 7 through 42, inclusive, in said Block 1 of Boulder Dam Homesite Addition and taking direct service from water main so installed for a period of 10 years from date of completion of said in­stallation or until Subdivider has been repaid the actual cost advanced by him, whichever first occurs; 3 - Company to own said water main; 4 - Subdivider to furnish Company necessary ease­ments where said water main is to be laid in other than dedicated streets and alleys, to­gether with Title Guarantee and Policy of Title Insurance; be, and the same Is hereby, ratified, approved and confirmed. On motion duly seconded, It was RESOLVED, that the action of Vice President Reinhardt on behalf of this Company in executing letter agreement "N”L.D. 2785, dated February 23, 1954, with Longley Construction -5-