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The Aetna Casualty and Surety Company, third party, by the terms of which second party acknowledges receipt from first party of said sum of $2,386.94 and the sum of $79.56 interest thereon, in full satisfaction of all sums due second party under said construction contract, dated June 24, 1939, and in discharge of all claims, causes of action and demands of Lynch Construction Company against LVL&WCo. set forth in said action No. 448541; LVL&WCo. further acknowledging that it retains the sum of $9,000 fixed as its damages in said award in full satisfaction of all claims, etc. against Lynch con­struction Company and The Aetna Casualty and Surety Compaxiy under said construction contract and bond, dated June 2i, 1939; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of Vice President Strong and Secretary in executing agreement, C. L. D. No. 3242, dated August 28, 1940, between LVL&WCo. and Olympic Refining Com­pany, Licensee, granting permission to use, operate, maintain, repair and renew an existing 4” gas oil pipe line and existing 4” gasoline pipe line encased in 6” casings, along and across this company's property on abandoned San Pedro Branch right-of- way, near Burnett Street, Signal Hill, California, for term of four years, commencing August 1, 1940; subject to revocation by Land Company at any time upon sixty days' written notice to Licensee; consideration $10; be, and the same is hereby, ratified, approved and confirmed. -19-