upr000102 95

Fir s t National Ban k f4 f954 N E V A D A L a s V e g a s B r a n c h Trust Mr. E. E. Bennett Law Department Union Pacific Railroad Company 422 West Sixth Street Los Angeles 14, California La s V e g a s , Ne v a d a May 22, 1954 Re: Your File 80-11 Dear Mr. Bennett: Mr. Harry Manente, Vice President and Manager of the First National Bank of Nevada, 115 South Third Street, Las Vegas, Nevada has handed us for reply your letter of May 20, 1954, regarding the proposed escrow for the sale of the facilities of the Las Vegas Land and Water Company to the District. Please be advised we would be most happy to act as Escrow Agent. We have reviewed the Escrow Instructions carefully and are of the opinion they are in excellent order, all of the pertinent points are covered and the* instructions to the Escrow Agent are clear. We should like to quote a fee of $1,425.00 to be divided equally between the District and the Sellers. Our basis is l/20th of 1% of the approximate amount of $2,850,000.00 which will be received by us in Escrow. In accordance with your request, we have advised both Mr. Hamilton and Mr. McNamee, Attorney for the District that we will be willing to act and have outlined to them our basis for fees. We note that a copy of the Sales Agreement is available in the office of Mr. Campbell or Mr. McNamee. If there are any additional points you would like us to ans­wer, please do not hesitate to write or call. Very tr^y yours, C . D . Brown Trust Officer CDB:acr