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\ C .L .D . No. 11342 THIS AGREEMENT, made t h i s f i r s t day- o f .Tun** , 1953. by LOS ANGELES & SALT LAKE RAILROAD COMPANY and i t s “ l e s s e e , UNION PACIFIC RAILROAD COMPANY, Utah c o r p o r a tio n s , LAS VEGAS LAND AND WATER COMPANY, a Nevada c o rp o ra tio n ( h e r e in a f t e r c o l l e c t i v e l y c a lle d F i r s t P a r t i e s " ) , and LAS VEGAS VALLEY WATER DISTRICT, a p u b lic c o r ­p o r a tio n c re a te d and e x i s t i n g pu rsuan t to th e p r o v is io n s o f C hapter 1 6 7 o f th e 1947 S ta t u t e s o f Nevada as amended by Chapter 1 3 0 o f th e 1949 S ta t u t e s o f Nevada and as amended by C hapter 3 0 7 o f th e 1 9 5 1 S ta t u t e s o f Nevada, Second P a rty ( h e r e in a f t e r som etim es c a lle d "D is ­t r i c t " ) . RECITALS Los A ngeles & S a l t Lake R a ilro a d Company i s h e r e in a f t e r som etim es c a lle d " S a l t Lake Company"; Union P a c i f i c R a ilro a d Com­pany i s th e l e s s e e and in p o s s e s s io n o f a l l o f th e p r o p e r tie s o f th e S a l t Lake Company and i s h e r e in a f t e r som etim es c a lle d "Union P a c i f i c " ; s a id two r a ilr o a d companies a re c o l l e c t i v e l y sometimes h e r e i n a f t e r c a lle d "R a ilro a d C om p an ies";. and Las Vegas Land and W ater Company i s h e r e i n a f t e r sometimes c a lle d "W ater Company". R e fe re n c e s h e r e in to th e p ro p e rty o r a cco u n ts o f th e Wa­t e r Company a re lim ite d s o l e ly to i t s p ro p e rty o r a cco u n ts c o n s t i ­tu tin g th e w ater d is t r i b u t i o n system o p erated and m aintained by th e w ater departm ent o f th e W ater Company f o r th e d is t r i b u t i o n o f w ater as a p u b lic u t i l i t y a t Las V egas, Nevada. The D i s t r i c t d e s ir e s to pu rch ase c e r t a in w a te r-b e a rin g la n d s ,w a te r r ig h t s and w ater p r o d u c tio n ,s to r a g e and tra n sm is s io n f a c i l i t i e s owned and o p erated by th e R a ilro a d Companies as non-u­t i l i t y f a c i l i t i e s and th e w ater d is t r i b u t i o n system owned and op­e r a te d by th e W ater Company as a p u b lic u t i l i t y a t Las V egas, Ne­vada, on Septem ber 1 , 1 9 5 2 , and a l l e x te n s io n s th e r e to and ad d i­tio n s and b e tte rm e n ts th e r e o f made by F i r s t P a r t ie s subsequent th e r e t o . In th e ev en t th e e l e c t o r s in th e D i s t r i c t v o te to a u th o r­iz e th e D i s t r i c t to is s u e and s e l l i t s bonds, and th e D i s t r i c t i s a b le to s e l l i t s bonds, f o r th e pu rchase o f th e above m entioned p r o p e r t ie s , F i r s t P a r t ie s a re w illin g to s e l l t h e i r r e s p e c tiv e prop­e r t i e s above m entioned to th e D i s t r i c t upon th e term s and c o n d itio n s h e r e in a f t e r s t a t e d . I t i s th e in te n t io n o f th e p a r t i e s h e re to th a t prom ptly a f t e r th e s a le d ate th e D i s t r i c t , a t i t s ex p en se, w i l l remove and r e lo c a t e c e r t a in o f s a id f a c i l i t i e s c o n s is tin g o f c e r t a in pipe lin e s ,w ir e l i n e s and a pumping s t a t i o n and w i l l c o n s tr u c t c e r t a in 1.