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2. First party shall construct said water line over and across Lot 1, Block 5, Lesert Park Tract No. 2, Las Vegas, Nevada, and upon completion of said new water line shall have the right to abandon in place existing water line, and until such time as new line is completed shall have the right to use existing line. 3. Second party agrees to pay first party $310.00 which shall constitute one third of estimated cost of constructing new water line in said easement area, except first party shall bear all other costs and expenses connected with relocation of its water line or lines in said easement area; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of Vice President Reinhardt in signing and accepting on September 15, 1953, Revocable Permit dated August 20, 1953, issued by State of Nevada, Department of Highways, to LVL&WCo. for construction of water main extension in U. s. Highway No. 95 from a connection with existing water main located in vicinity of Bonanza Road with TJ. S. Highway No. 95 to the northerly City limits, Las Vegas, Nevadaj 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 "K"L.D. 2717, dated September 15, 1953, between LVL&WCo. called "Company”, and Ada L. Bearden, called "Subdivider”, providings 1. Subdivider to pay Company $3130.00 estimated cost of installing approximately 767 LF of 6" cast iron water mains and 12 LF of 6 ”