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1 £ 3 4 5 6 7 8 9 10 11 IE 13 14 15 16 17 18 19 SO El SS S3 S4 S5 S6 Section 2. The Contractor agrees that the work em­braced In this contract shall be commenced within five (5) cal­endar days from the date of this contract and.shall be completed within fifty (50) calendar days thereafter. The wells to be drilled hereunder are being drilled for the purpose of augment­ing the water supply of the City of Las Vegas during the heavy consumption period in the summer of 195^- and thereafter, and it is agreed that time is to be considered as of the essence of this contract and one of the principal factors in awarding the con­tract to be performed hereunder. Section 3. Contractor agrees that it has carefully examined the site of the proposed work and is familiar with the conditions under which said work is to be performed. Section 4. Each well shall be drilled at the sole risk of Contractor and without compensation for any fishing or redrilling operations. Should Contractor lose any well requir­ing the drilling of a substitute well, it shall drill such sub­stitute well in the location designated by the Land Company and shall be paid therefor as provided in this agreement; provided, however, that Contractor shall not be entitled to any compensa­tion for work previously done or materials furnished in connec­tion with the lost well. Section 5» Contractor shall be entitled to compensa­tion for the work to be performed hereunder with respect to each well drilled, cased and completed at the following rates: (a) For portion of well in which 16-inch casing is set: 2 .