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On motion duly seconded, it was RESOLVED, that the following amounts are reappropriated for expenditure during year 1951 to complete projects heretofore authorized, involving capital expenditures* $34,012.23 for items costing $1,000 or more, as shown on Carry-Over Statement as of December 31, 1950; 1,620.00 for items costing less than $1,000, as shown on Carry-Over Statement as of December 31, 1950. On motion duly seconded, it was RESOLVED, that the action of President and Asst. Secretary Bachman in executing agreement C.L.D. No. 10660, dated March 5, 1951, between LVL&WCo., called "Land Company", and The Quaker Oats Company, called "Purchaser", agreeing that if during the period commencing March 7, 1951, and ending on March 7, 1954, Land Company shall have an opportunity to sell to a party or parties other than Purchaser, Lots 57, 58 and 59 in Union Pacific Tract, Los Angeles, Calif., at a price acceptable to the Land Company, the Land Company shall give the Purchaser notice there­of, and, within thirty days thereafter, Purchaser shall have the option to purchase said land at the same price Land Company may be able to sell said property to others; in the event Purchaser shall elect to purchase said land, Land Company, upon receipt of payment of purchase price, shall convey by grant deed to Purchaser the land described, excepting therefrom all minerals and all mineral rights, including oil and gas and rights thereto, with - 2