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insurance in amount of purchase price, subject to? (a) Taxes for the fiscal year 1961-1962; (b) Conditions, restrictions, reservations, exceptions, easements and encumbrances of record? said deed excepting all minerals and mineral rights, without right of entry, as excepted by E. C. Woodward and Citizens National Trust & Savings Bank of Los Angeles, as Trustees under the Will of August V. Handorf, Wilson agreeing to pay all taxes and assessments levied or assessed against said land assignable to period subsequent to date of delivery of deed, except any assessment for inclusion of sanitary sewer system within Sanitation District No. 15 of Los Angeles County. As further consideration, Land Company agrees? (a) To construct sanitary sewer system to serve sale parcel and other lands, which system is estimated to cost $900.00 per acre and in event cost assign­able to purchase parcel exceeds $8,727.30, Wilson agrees to reimburse Land Company for such excess j (b) Upon completion of said sewer system, to arrange for inclusion thereof within Sanitation District No. 15 and to pay any assessment arising from such inclusion; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was BESOLVED, that the action of President Stoddard and Assistant Secretary Bachman in executing LVL&W LS Deed Audit No. 585^, dated December 12, 19 6 1, whereby Las Vegas Land and Water Company conveyed to Wilson & Co., Inc., Lots 1 and 2, except the southerly 20 feet thereof, in Block 18 of Tract No. 13^3, City of Industry, County of Los Angeles, California, consideration $10.00 and other good and valuable consideration; said deed excepting all minerals and mineral rights, without right of entry, as excepted by -4-