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I am sending copies of the above mentioned documents, which have been approved as to form by Mr, Bennett, to the parties to whom copies of this letter are addressed. Mr. Bennett advises that each of the enclosed documents to which the Railroad Companies are parties may be executed by the Pres­ident of the Railroad Companies pursuant to Section 3» Article V, of the LA&SL By-Laws, Section 6, Article Y, of the Union Pacific By-Laws pwfi Resolutions of the Executive Committees of said Railroads dated June 30, 1953» authorizing the execution of the Sale Agreement dated June 1, 1953• He also advises that each of the enclosed documents to which the Water Company is a party may be executed by the President of the Water Company pursuant to Section 3, Article Y, of the By-Laws of the Water Company and Resolution of the Board of Directors of the Water Company dated June 29, 1953, ratifying and approving the execution of the Sale Agreement dated June 1, 1953* These documents will be delivered to the District through escrow at the First National Bank of Nevada, Las Yegas, Nevada, upon payment of the Preliminary Purchase Price, which is referred to in the form of Escrow Instructions, preliminary copies of which have already been furnished to you by Mr. Bennett. Mr. Bennett advises that all interested parties have agreed to the form of the Escrow Instructions except as to the exact sale date when the transfer will be made and the amount of the Preliminary Purchase Price and the Estimated Purchase Price referred to in the Escrow Instructions. As soon as these matters have been agreed to with the District, original Escrow Instructions will be submitted to you for your signature. We hope to be able to make the transfer not later than July 1, 195^« (Signed) W M . R E I N H A R D T Wm. Reinhardt E n d s