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Lessor upon one year's notice after Lessee has carried on business on said premises for five years if Lessor determines to demolish present building and erect a new structure, or said premises are required for railroad purposes by LA&SLRRCo. or UPRRCo. and all remaining ground floor space in said builds ing is occupied by said Railroad Companies; Lessor to bear the cost of altering and remodelling said premises not in excess of $65,000, any cost in excess of said sum to be borne by Lessee; Lessee further agreeing at own expense to install equipment and trade fixtures necessary for conduct of its operations; 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 Rigdon in executing grant deed, dated October 11, 1941, between Las Vegas Land and Water Company, first party, and A. 0. Smith Corporation, second party, conveying to said second party a portion of Lot 1, Tract No. 7777, County of Los Angeles, State of California, together with improvements ereoted thereon as covered by sales contracts, Audit Nos. 9866, 9885 and 9924; subject to general and special taxes for fiscal year 1941-1942, including any special district levies, payment for which is included there-ing; excepting and reserving unto first party coal, oil and mineral rights; consideration $.10*00 and other good and valuable consideration; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was -6-