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m without right of entry; said premises to he used for warehouse, shop and office purposes; Lessee, at its option, may obtain re­newal of said lease for two successive five-year terms; said lease agreement granting Lessee option to purchase the leased premises, including buildings, improvements and track thereon, at any time during term of said lease by payment to Lessor of a sum computed, as follows: $25,982.88 for land, plus $2,440.00 as value of portion of spur track on premises, plus actual cost of said building and improvements, plus any assess­ments for public improvements chargeable to capital account paid by Lessor, plus cost to Lessor of policy of title insurance in the amount of purchase price, and less 2% per annum upon actual cost to Lessor for said building and improvements theretofore paid by Lessee as rental; Lessor, upon payment to it by Lessee of said purchase price, to convey said leased premises to Lessee, excepting and reserving unto Lessor all minerals and all mineral rights, including oil and gas and rights thereto, without right of entry; and subject to any unpaid taxes and assessments for public improvements chargeable to capital account levied upon the leased premises subsequent to date of said agreement C.A. 10372 and not thereto­fore paid by Lessee, and to any covenants, conditions, restric­tions, reservations and encumbrances resulting from the convey­ance of the leased premises to Lessee; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of President and Assistant Secretary Bachman in executing L.S. Deed Audit No. 4827, dated August 14, 1946, favor LA&SLRRCo., quitclaiming parcel of land, -4-