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On motion duly seconded, it was RESOLVED, that the action of Vice President Reinhardt in executing lease agreement C.L.D. No. 10600, dated December 26, 1950, with George Purst, covering lease of premises located at Ocean Blvd. and Lime Ave., Long Beach, California, to be used as site for restaurant, for term beginning on the first day of December, 1950, and extending to the first day of December, 1955; rental 5% of gross receipts of all business conducted therein, payable monthly, but in no event less than $200 per month; subject to termination by either party upon 180 days’ written notice; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of President and Asst. Secretary Bachman in executing LVL&WCo. quitclaim deed, dated December 30, 1950, conveying unto Union Pacific Railroad Company and Los Angeles & Salt Lake Railroad Company all its right, title and interest in and to that certain Oil and Gas Lease, dated March 24, 1937, from UPRRCo. and LA&SLRRCo., Lessors, to LVL&WCo., Lessee, covering portions of Lots 8 and 12, Tract No. 751, located partly in the City of Los Angeles and partly in the City of Long Beach, California; consideration $1.00 and other good and valuable considerations; be, and the same is hereby, ratified, approved and confirmed. Following Authority for Expenditure Requests, approved by the President, were submitted for ratification; -2-