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LAS VEGAS LAND AM) WATER COMPANY RESOLUTION Roski - Martin C.L.D. 15938 On motion duly seconded, it was RESOLVED, that the action of President E, H. Bailey and Assistant Secretary S. J. How in executing option agreement bearing C.L.D, No, 15938, dated March 28, 1968 between Las Vegas Land and Water Company and Edward P. Roski and Beatrice H. Roski, husband and wife, and William B, Martin, an individual, referred to as Purchaser, granting option to purchase a certain parcel of land described therein, in City of Industry, Los Angeles County, California, term of option commencing February 1, 1968 and con­tinuing in effect until January 31, 1969; consideration being payment by Purchaser of general and special taxes, including any special district levies, plus any assessments for public improve­ments not chargeable to Capital Account; Purchaser may exercise option by giving written notice of its intention to do so and upon payment of purchase price of $161,273.00, and shall have entered into an agreement for construction on the option parcel of a warehouse building containing not less than eighty thousand (80,000) square feet, plans for warehouse having been submitted to the Land Company for its approval; and as a further condition upon the right of purchaser exercising said option, Purchaser shall have entered into an agreement to lease fifteen thousand