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(bcc - Mr. lm. Reinhardt) O. hJ54 May 20, 195^ Pile 30-11 Mr, Harry Manente, Vice President and Manager First National Bank of Nevada 115 South 3rd Street Las Vegas, Nevada Lear Sirs I have been discussing with the attorneys for the Las Ve­gas Valley Water District the form of Escrow Instructions to be used in transferring the Las Vegas water system to the Dis­trict pursuant to a contract of sale which was entered into between Los Angeles lb Salt Lake Railroad Company, Union Pa­cific Railroad Company, Las Vegas Land and Water Company and the District dated June 1, 1953« We have tentatively agreed that your bank will act as the Escrow Agent. I am enclosing a copy of the proposed Escrow Instructions which we have ten­tatively agreed to. The contract of sale provides that the District:will pay a basic purchase price of $2,500,000, sub­ject to certain adjustments because of changes occurring af­ter September 1, 1952, and it is anticipated that the final purchase price will be somewhere in the neighborhood of the basic purchase price. Will you please advise Mr. Franklin T. Hamilton and Mr. Leo A. McNamee, attorneys for the District, and me if your bank will be willing to act as the escrow a-gent and outline for us the basis for your fees. We should also be glad to have any suggestions which you wish to make with respect to the form of the Escrow Instructions. I do not have a copy of the sale agreement to furnish you at this time, but you will be furnished with a copy of the agreement at the time the escrow is entered into* If you require a copy at this time, you may be able to obtain one from Mr. Thomas A, Campbell, the President of the Dis­trict, or from Mr. McNamee. It is anticipated that the transfer of the water sys­tem will be made sometime between June 1 and July 1, 1$5^. e ; e , D i WAY 21 1954 L. C. C. MAY 21 1934