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to contain a floor area of not less than 10*000 square feet? Land Company* provided Purchaser be not in default under agreement* to deliver to Purchaser deed conveying option par— cel* and standard policy of title insurance in amount of pur­chase price* showing title to option parcel to be vested in Purchaser* subject tos (a) Taxes for the fiscal year in which the option is exercised* whether yet payable or not* and taxes for all subsequent years 5 (b) Conditions* restrictions* reservations* easements and encumbrances of record? said deed excepting and reserving unto Land Company* all minerals and all mineral rights* including oil and gas and rights thereto* without right of entry? Purchaser in consideration for said option* agreeing to pay all taxes and all assessments not chargeable to capital account* assignable to option parcel? be* and the same is hereby* ratified* approved and confirmed. On motion duly seconded* it was RESOLVED* that the action of Vice President Osborne in executing Rider C 0L 0D 0 No. 10517-9* dated June 59 1959s extending to August 319 I960* term of lease agreement Audit No, IO55I9 dated August 319 19509 expiring by latest extension August 319 19599 between Las Vegas Land and Water Company and Nevada Outdoor Advertising Co.* Inc.* covering sites for advertising signboards at Yermo* California? rental $>50o00 per annum* payable annually in advance? subject to termination by either party upon 3 0 days® written notice? be* and the same is hereby* ratified*, approved and confirmed.