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Regular monthly meeting of Board of Directors of Las Vegas Land and Water Company was held in the Company’s principal office in the Union Pacific Building, ^22 West 6th Street, Los Angeles, California, at 11;00 A;M., Tuesday, May 15, 1956. Present; Wm . Reinhardt E. E. Bennett J. W. Padden w. H. Johnson c. M. Bates A. E. Stoddard Absent; Vice President Reinhardt called the meeting to order and presided. Minutes of meeting of Board of Directors held April 10 , 1956, were read and approved. On motion duly seconded, it was RESOLVED, that the action of Vice President Reinhardt in executing Agreement C.L.D. No. 12206, dated May 2, 1956, be­tween LVL&WCo. and Hancock Oil Company, for term beginning on the 26th day of April, 1956, and extending to the 26th day of April, 1961, covering license for a 10-inch steel pipe line for conveyance of petroleum and petroleum products over and across property of Land Company near California Avenue and 27th Street, Long Beach, California; rental $5*00 per annum, said license being subject to revocation by Land Company on 60 days written notice, and also to agreement between LA&SLRRCo. and Pan American Petro­leum Company, dated July 12, 1923 j (assigned to Richfield Oil Corporation), Land Company’s Contract Audit No. A292, covering -1-