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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 auction II. It is understood that the Water Company 1ms outstanding contracts with certain subdividers or applicants for water service made pursuant to Rule 9 of its said Rules and Regu­lations under which such suMivi&ers or applicants (a) have deposited sums of money with Water Com­pany as advances for the construction by the Water Com­pany of certain water mains, or (b) have at their own expense constructed and conveyed to the Water Company certain water mains to serve properties developed or being developed by such subdividers or applicants subject to refund of the cost pursuant to the Rules and Regulations of the Water Com­pany on file with the Public Service Commission of the State of IJevada* Water Company hereby assigns to the District, effective on the sale date, all such contracts which upon said date are stii:. wholly or partially unperformed, and the District hereby agrees, effective as of the sale date, to assume all liabilities, including liability for further refunds under said contracts, and to inde&ni- fy and save harmless the Water Company from any liability for re­funds under said contracts subsequent to the sale date. The Dis­trict hereby agrees to assume, effective as of the sale date, all liability under said contracts with respect to any unexpended por­tions in the possession of the Water Company upon the sale date of sums of money deposited with the Water Company under such contract^ as advances for the construction of water mains.