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6% of gross receipts with minimum of $600 per month, payable monthly in advance; said $600 being in lieu of $500 per month minimum rental provided in Agreement Audit No. 10184; for last month of term, an amount equal to excess of 6% of gross receipts over $600, the sum of $600 paid as consideration for original lease to be applied as rental for the last month of the extended term; be, and the same is hereby, ratified, approved and confirmed, On motion duly seconded, it was RESOLVED, that the action of Vice President Osborne in executing Lease Agreement C.L.D. No. 13327, dated July 1, 1959, with Baker Steel & Tube Co., covering site on Noakes Street, Los Angeles, California, to be used for parking of automobiles and storage of steel tubes, for term beginning July 1, 1959 and extending to July 1 , 1964, rental $190.00 per month payable monthly in advance, sub­ject to termination by either party upon 30 days* written notice; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of President Stoddard and Assistant Secretary Bachman in executing Agreement C.L.D. No. 13276, Contract Audit No. 10858, dated May 8, 1959, between Las Vegas Land and Water Company, called "Land Company", and Charles E. Keas and Gloria H. Keas, called "Purchaser", granting Purchaser option for period of one year from date hereof to purchase portions of Lots 19, 38 and all of Lot D, Tract No. 8337, City of Los Angeles, County of Los Angeles, California, for purchase price of $4 9 ,5 5 4 .05, plus any assessments for public improvements levied and assessed upon or assignable to option parcel, which are chargeable to capital account; Purchaser may exercise option at any time during the term