Las Vegas City Ordinances, March 31, 1933 to October 25, 1950, lvc000014-152

All of said items are hereinafter referred to as Items "B". It is, understood and agreed between the parties hereto as follows: That the party of the First Part is now the owner of the premises described in the Deed copy of which is hereto attached, marked Exhibit "A", as aforesaid, and that said premises are generally known as and called the Las Vegas Airport of Western Air Express Corporation and the Party of the Second Part Contemplates improving said Airport with the aid of Federal funds so as to bring the rating of said Airport up to an Airport of the Third Class, or better, as classified by the Civil Aeronautics Board and in pursuance of said contemplated improvements, intends to make application to the Civil Aeronautics Board for an allocation of Federal Funds in the sum of THREE HUNDRED THOUSAND DOLLARS ($300,000.00) or thereabouts. It is understood that before the Civil Aeronautics Board will approve the allocation of funds for said purpose, it will require said Second Party to have a binding agreement where- bythe title to said Airport will be vested in said Second Pary upon the completion of the improvements to be made thereon. It is further understood that the application to said C.A.B. must be initiated by the City of Las Vegas in the form of a C.B.A. project. Party of the First Part is willing to convey to the Party of the Second Part said Las Vegas Airport, provided the Party of the Second Part within two (2) years of the date hereof will improve said airport and construct thereon an adequate Administration Building, at a cost of not less than Twenty-five Thousand ($25,000.00) Dollars, and in turn lease certain premises, privileges, and facilities of said airport to Party of the First Part in accordance with the terms and conditions specified in the form of lease hereto attached, marked Ex­hibit "C", and made a part hereof. NOW, THEREFORE, if the Party of the Second Part will forthwith proceed with its appli­cation to said C.A.B. for Federal funds and will furnish to C.A.B. all of the data required of it by C.A.B. for said project and will within sixty (60) days from the date of this escrow agreement file said application and date with said C.A.B, and if said Second Party will within sixty (60) days from the date of this escrow deliver to you a certified copy of and ordinan­ce adopted by the Board of City Commissioners of the City of Las Vegas, Clark County, Nevada authorizing and ratifying the execution of the Lease, copy of which is attached hereto and marked Exhibit "C", and will at the same time deliver to you a written opinion by the City Attorney of said Second Party, that said Second Party is authorized by its Charter, and the laws and constitution of the State of Nevada, to acquire, establish, maintain and operate an Airport, and to lease the same in accordance with the terms and conditions set forth in said Exhibit "C", and that the ordinance hereinabove mentioned has been duly and regularly passed and adopted in accordance with the Statutes in such cases made and provided, and that the execution of the Lease, said Exhibit "C", by the Second Party are regular and in con­formity with the Charter provisions of said Second Party and teh Statutes in such cases made and provided, and that said Lease, when delivery thereof is made to First Party by the escrow agent herein named, shall be and shall continue to be an enforceable obligation on the part of the said Second Party and in behalf of said First Party, in accordance with the terms and conditions thereof; and if said Second Party will within four (4) months from the date of this escrow agreement present to you satisfactory evidence that said project has been approved by said C.A.B, and if said Second Party will within six (6) months from the date of this escrow agreement furnish you with satisfactory evidence that the improvements specified in said project have been commenced, then and if the Party of the Second Part will within tow (2) years from the date of this escrow agreement furnish you satisfactory evidence that said improvements, including said Administration Building, have been substan­tially completed and that said Airport is in such a condition that said First Party can conduct its scheduled operations in and out of said Airport in accordance with rules and regulations of Civil Aeronautics Board, then you will deliver items "A" to the Party oof the Second Part and you will deliver said Items "B" to the Party of the First Part, and at the time of making said delivery you will fill in the date of said undated instruments. In the event Party of the Second Part fail to complete the matters herein specified within the respective times noted, you will return to Party of the First Part Items "A" and to Party of the Second Part Items "B". Party of the Second Part agrees that during the course of construction at said airport and pending completion of the projected improvements thereon and thereabout, adequate faci­lities and provisions will be made and maintained to permit Party of the First Part to con­tinue its operations at said airport without unreasonable interruptions or delays, It is further agreed that prior to filing its application with said C.A.B., Party of the Second Part will submit to Party of the First Part the plans and specifications for the improvement of said airport, and prior to the commencement of construction of said Adminis- tration Building and prior to letting any contract for the construction thereof, Party of the Second Part will submit to Party of the First Part the plans and specifications for said Administration Building, and in the event Pary of the First Part disapprove of such plans and specifications and Party of the Second Part fail or refuse to make the changes thereto requested by the Party of the First Part, said Party of the First Part shall have the right to withdraw Items "A" and terminate this escrow agreement. These escrow instructions shall be deemed to be a contract between the parties. It is understood and agreed that revenue stamps for said Deed and the escrow fees for this escrow will be borne by the parties hereto share and share alike ana that the Party of the Second Part will bear the cost of recording its Deed and the Party of the First Part will bear the cost of recording its lease. The Certified Copy of the Ordinance, and the written opinion of the City Attorney of said Second Party, mentioned on page 3 of the escrow Agreement shall become a part of and he delivered with said items "B". DATED: This 19th day of November, 1940 THE CITY OF LAS VEGAS BY JOHN L. RUSSELL Its Mayor