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S. L. Hardy, called "Subdivider", pursuant to which 1 - Subdivider conveys to Company all right, title and interest in and to a 6" water line, heretofore constructed by and at the expense of Subdivider, serving Hardy Tract, Las Vegas, Nevada; 2 -r Company agrees to refund to Subdivider at quarterly intervals 35$ of the revenue received by it from customers located within said Hardy Tract taking service from said water line for period of ten years from date of said agreement, or until Subdivider has been repaid the agreed cost of constructing said water line in the amount of $1,088.00, which­ever first occurs; 3 - Subdivider agrees to furnish Company with an easement for said water line; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of President and Asst. Secretary Bachman in executing agreement C.L.D. No. 11242, dated February 1, 1953, between LVL&WCo,, called "Land Com­pany", and C. R. Bertrand, called "Purchaser", granting option to purchase Lots 108, 109, 110 and 111, in Union Pacific Tract, Los Angeles, California, said option to continue for period of one year from February 1, 1953, upon condition that Purchaser awards a contract for the construction thereon of a terminal dock-type warehouse and office building of not less than 9,000 sq. ft. of floor area and completes a lease of the building for period of not less than ten years to Ralph S. Newcomer, doing business as Real Transportation Company; purchase price of said land to be $31,925.25, plus any assess­ments for public improvements levied and assessed upon or assignable to the option parcel; Land Company, upon the -3-