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LAS VEGAS LAND AND WATER CCHPAHY RESOLUTION On wotlon duly seconded, it was RESOLVED, that the action of President Bailey and Assistant Secretary Howe in executing C.L.D. 15597 dated December 13, 1966, with Julian Cohen and Henrietta Cohen, husband and wife, granting option to purchase parcel of land described therein in City of Industry, California, except minerals and mineral rights, option to commence on date of agree­ment and continue for two years or until Purchaser shall have given written notice of his desire to release said option, consideration to be equal to the general and special taxes, including any special district levies, as­signable to the period during which Purchaser shall be liable, plus any assessments for public improvements not chargeable to Capital Account. Purchase price to be $111,726.41, plus any assessments levied for public improvements chargeable to Capital Accounts. Purchaser shell have right to exerciae option by delivering to the Land Company written notice of its intention to do so, together with full amount of the purchase price and upon condition that Purchaser shall have entered into an agreement for the construction upon the option parcel of a good and substantial concrete tilt-up or brick office, warehouse and manufacturing building, containing an area of not less than 50,000 square feet, plana to be submitted to the Lend Com­pany for its approval. Land Company shall deliver deed conveying parcel purchased, subject to easements referred to therein, taxes for the fiscal year in which option exercised, and conditions, restrictions, reservations,