The purchase contract for the Las Vegas Land and Water Company allows for the contract to be annulled if its bonds are not sold by December 31, 1953. This contract rescinds that deadline, allowing as much time as needed for the sale of the bonds. Agreement that all parties will ignore the provision that any party can terminate the agreement if the bonds do not sell by May 1, 1954.
hln001219. Union Pacific Railroad Collection, 1828-1995. MS-00397. Special Collections and Archives, University Libraries, University of Nevada, Las Vegas. Las Vegas, Nevada. http://n2t.net/ark:/62930/d1x34qs2r
Standardized Rights Statement
Digital Processing Note
THIS SUPPLEMENTAL AGREEMENT, made this _ day of ____, 1954, by LOS ANGELES by SALT LAKE RAILROAD COMPANY and "Its lessee, UNION PACIFIC RAILROAD COMPANY, Utah corporations, LAS VEGAS LAND AND WATER COMPANY, a Nevada corporation (hereinafter collectively called "First Parties"), and LAS VEGAS VALLEY WATER DISTRICT, a public corporation created and existing pursuant to the provisions of Chapter 167 of the 1947 Statutes of Nevada as amended by Chapter 130 of the 1949 statutes of Nevada and as amended by Chapter 307 of the 1951 Statutes of Nevada, Second Party (hereinafter sometimes called "District"). RECITALS An agreement was heretofore entered into by and between the First Parties and the District under date of June 1, 1953, said agreement in general providing for the sale to the District of certain real property, water rights and water production, storage and transmission facilities located in the City of Las Vegas, Nevada. On September 30, 1953, a special bond election was held in said District at which the electors authorized the issuance of $8,700,000 of bonds of said District for the purpose of carrying out said agreement of June 1, 1953, and for other purposes of the District. The District is at present diligently taking the necessary steps to sell said bonds at the earliest practicable time to provide the funds necessary for carrying out said agreement of June 1, 1953. Section 14 of said agreement of June 1, 1953, among other things, provides that if the District shall have failed to sell said bonds by December 31, 1953, then at any time after December 31, 1953, said agreement may be terminated either by the First Parties or by the District, after having given the other party thereto not less than ninety (90) calendar days' notice of intention to terminate. Neither of the parties hereto has to the present date given notice of termination of said agreement. The District and the First Parties are of the opinion that it la to the interest of both of said parties that said bonds be successfully sold at the earliest opportunity. For that purpose it is necessary that prospective bond purchasers be assured that said agreement of June 1, 1953, is not subject to termination by either party thereto before the award and sale of said bonds. SUPPLEMENTAL AGREEMENT NOW, THEREFORE, the parties hereto agree as follows; Section 1. That Section 14, paragraph 3, sentence 3, of said agreement be amended to read as follows: "If this agreement shall not have been terminated as hereinbefore provided in this paragraph, and if the District shall have held an election and shall have been authorized at said election to issue bonds for the purchase of the property herein mentioned and the creation of said Relocation Fund, but shall have failed to tell said bonds by May 1, 1954, then at any time after May 1, 1954, this agreement may be terminated either by the First Parties or by the District after having given the other party hereto not less than ninety (90) calendar days' notice of intention to terminate." Section 2. That except as otherwise provided herein the terms and provisions of said agreement of June 1, 1953, shall remain in full force and effect. IN WITNESS WHEREOF the parties hereto have executed this supplemental agreement the date first herein written. LOS ANGELES & SALT LAKE RAILROAD COMPANY UNION PACIFIC RAILROAD COMPANY LAS VEGAS LAND AND WATER COMPANY LAS VEGAS VALLEY WATER DISTRICT