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Las Vegas Valley Water District 2. February 6, 1953 4. All land and other property conveyed to you will be conveyed subject to all taxes levied and assessed upon, or properly attrib­utable to, any of said properties in the year in which the sale date occurs, but such taxes shall be prorated as provided in Item 7 of your letter of January 31* 1953. 5. The formal agreements between you and the undersigned for the purchase and sale of said property shall provide that all obliga­tions of the undersigned thereunder shall ter­minate on December 31* 1953* if on °r before that date you shall not have paid the full pur­chase price of said properties to the under­signed or into escrow for delivery to the un­dersigned when the undersigned shall have con­veyed all of said properties to you. .6. If you and the undersigned are unable to reach an agreement within three (3) months upon the terms of formal agreements covering the purchase and sale of the above mentioned properties to you, the undersigned reserve the right to discontinue negotiations or any fur­ther obligations under this tentative accept­ance of your proposal of January 31* 1953. Our attorneys are ready to immediately commence nego­tiations with your attorneys for the purpose of drawing up formal detailed agreements. LOS ANGELES & SALT LAKE RAILROAD COMPANY UNION PACIFIC RAILROAD COMPANY LAS VEGAS LAND AND WATER COMPANY President