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Los Angeles - March 5# 1954 80-11 Mr. Wm. Reinhardt: (cc - Mr. M. R. Rouse - Omaha) Referring to copy of memorandum sent to me by Mr. Beebe relative to the so-called time schedule of the Water District - Water Company situation, and especially with reference to numbered Paragraph 5 of that schedule which refers to extension of the cancellation provisions of Section 14 of the contract: I hand you herewith 4 originals and 3 stenciled copies of the Supplemental Agreement prepared by O'Melveny & Myers amending Section 14 of the Agreement of June 1, 1953* C.L.D. No. 11342, to provide for a later date for terminating the agreement by any of the parties thereto than is now provided in Sectton 14 of the original agreement. I discussed this matter with Mr. Beebe, and he stated that the representatives of the bond houses felt that, under the present provisions of Section 14 with respect to termination, negotiations might be pending for the sale of the bonds, but owing to some unforeseen circumstances the actual sale may be delayed longer than might be anticipated, and that during that period of delay the Railroads or the District might decide to exercise their ninety-day option to terminate as now provided by Section 14 of the contract. He, therefore, desired that this right to terminate, which right accrued under the present contract as of December 31, 1953, be extended so that such right would not accrue until May 1, 1954. As you know, the District's present plans are to have the bonds sold, and the transfer of the Water Company to the Water District effected, by April 30th, 1954. I have approved three copies of the enclosed duplicate originals, one for the UPRRCo., one for the LA&SLRRCo., and one for the Water Company, and if it is satisfactory to you and to Mr. Stoddard, I would appreciate if he would execute all four duplicate originals and return to you for execution by the District, after which the Railroads and Water Company originals will be handled in the customary manner, and the District will retain their copy. The execution of this Supplemental Agreement will have to be approved by the Executive Committees of the LA&SLRRCo.