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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 such time as it has furnished to the Company title guarantees or policies of title insurance aforesaid. ARTICLE II. THE COMPANY AGREES: 1. Upon execution of this agreement and receipt of said Bill of Sale, and such necessary easements for said water lines, and receipt of necessary title guarantees or policies of title in­surance, to pay to the Subdivider, at quarterly intervals, thirty-five percent (35%) of the revenue received by it from customers located on Lots No. 7 through 42, inclusive, in Block 3, Tract 1, Boulder Dam Homesite Addition, taking direct service from water mains installed hereunder for a period of ten (10) years from the date of completion of. said installation or until the Subdivider has been repaid the agreed upon sum of $3,996.00, whichever first occurs ARTICLE III. IT IS MUTUALLY AGREED: 1. All water mains so installed shall be and remain the property of the Company. 2. This Agreement shall ijnure to thP;;benef-itI of and be bind­ing, upon the successors and assigns '• of the respective parties hereto I#:1tfjl!^l|5^ tjn.e parties' hereto^ havd executed Agreemeni%.a:s• first above written. thi i LAS VEGAS LAND AND WATER COMPANY B y Jb£~L rJ-\ ,rV j> iybgu Secretary (SEAL) Vice Presideni MADSEN CONSTRUCTION, CORPORATION President -4- j