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• m m ---- % • Upon receipt of said detailed statement of actual cost of constructing said water mains, bill-of-sale and necessary easements for said additional pipe lines, the Company agrees to pay to the Subdivider at monthly intervals fifty percent (50$) of the monthly revenue received by it from customers in the South half of Block 3 and Blocks k, 5, 6, 7/ and 8 taking water from the additional water mains so installed hereunder for period of ten (10) years from date of completion of said additional water mains, or until the Subdivider has been repaid the actual cost of all of the water mains constructed under this agreement, whichever occurs first; provided, however, that all refunds under this agreement shall in no event exceed the sum of Thirty-Two Thousand Two Hundred Ninety Dollars ($32,290 00). ARTICLE IV. IT IS MUTUALLY AGREED: 1. All water mains so installed shall be and remain the property of the Company. 2. This agreement shall inure to the benefit of and be binding upon the heirs, executors, administrators, successors and assigns of the respective parties hereto. IN WITNESS WHEREOF, the parties hereto have executed this agreement as of the day and year first above written. Attest: / Z S LAS VEGAS LAND AND %WATER COMPANY (sear) B3 /Secretary Vice President Witnec If / SUBDIVIDERS A-3!