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? Regular monthly meeting of the Board of Directors, Las Vegas Land and Water Company, was held in the Company's principal office, in the Union Pacific Building, 422 West 6th Street, Los Angeles, California, at 11;00 A. M., Tuesday, August 1 3 , 1963. Present; P. J. Payne Edward C. Renwick J. W. Padden T. E. Hammill Absent; A. E. Stoddard A. C. Ritter Vice President Payne called the meeting to order and presided. Minutes of meeting of Board of Directors held July 9 , 1963, were read and approved. On motion duly seconded, it was RESOLVED, that the action of President Stoddard and Assistant Secretary Bachman in executing Agreement C.L.D. No. 14543, C.A. 10933* <l&ted July 9, 19&3> between Las Vegas Land and Water Company, called "Land Company", and Wallace S. Warnock, William Z. Bancroft, and M. Robert Howard, collectively called "Purchaser", granting Purchaser option for a period of one year from date thereof to purchase parcel of land in City of Industry, County of Los Angeles, California, being Lot 1, Block 21, of Tract No. 1343, excepting therefrom the southeasterly 195 feet of the northeasterly 103 feet thereof, except all minerals and mineral rights therefrom, and reservations of easements for railroad purposes; as consideration for granting of option Purchaser shall pay general and special taxes, including any special district levies assignable to the period during which Purchaser shall be liable for taxes, plus any assessments for -1-