upr000147 99

thence I. 40° 43* SO* S* 143,0 feet; theaoe II, 43° IS* 10* i# 330,01 feet to the beginning of & curve concave southwesterly tangent to the last mentioned course and having a- mdius of 330,70 feet; thence northwesterly along said curve, 171,16 feet to a point in the north** erly line of ©aid Let 1; thence, along said northerly line, 3, 83® S3 * 35* W# 06,03 feet, mere or less, to the point of beginning; sunder the terms of which 11,593,00, or 30$ of the purchase price, tfmll be paid upon the date of delivery of agreement duly execut-ed, and the balance, or 16,384.00, to bo paid in three equal annual installments of 13,138,00, with option to purchaser of. pay* lag any additional Installment a, or to make f u H payment nasi secure deed to the property, plus interest at the rate of 6$ per annum mad tares from date of delivery of contract, and with etn~ tain other conditions specified, in the agreement, be, end the same ie hereby, ratified, approved and confirmed, RKsQLVKD fUETHUEi that the action of the ^resident and Secretary in executing deed of conveyance, dated December 7, 1937, from this Company to the sterling Hostile Motors, ino., covering the particular piece of property hereinbefore described, which deed has been prepared so that it will be available for delivery in the event this Company receives payment in full fro® the Motors Company covering the 1,33 acre piece of property in question, be, and the same is hereby, ratified, approved and confirmed* Xt was explained to the Board that under date of May 38, 1934, the President and Secretary executed and delivered agreement between this Company sat 0*Keefe 1 Merritt Company, covering sale to the latter of 129,774.0 square feet is Union Pacific Industrial Tract Mo, 1 (Lot© 96 to 103 Inclusive) Los Angeles, California, consideration 138,933.44, of which -9,733.11 was paid in cash, balance to be paid within six years, with interest at 6$. On December 1, 1927, O ’Keefe & Merritt Company deposited the bala.no© of the purchase pries of these lot® and requested deed. thereupon, on motion duly made, seconded and carried, it was, by unanimous vote, 4