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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 t and la acting and to mil such bond®. The M s trie t agree# to call an election on or before August 1, If53, for the purpose of obtain­ing authority to Issue and sell hands for the purchase of the prop­erties herein Mentioned. The obligation of the District to purehae, the properties referred to in Sections 1, 5 and 6 hereof, and of First Fartlee to sell and convey such properties ta the District for the purchase provided In this agreement, shall be subject to the condition that the Mstriot shall receive authority to issue and sell bonds and shall sell bond® sufficient in amount to enable the Mstriet to pay the purchase price herein provided. If m m before December 31# 1953# the escrow provided for in Section 9 shall) not have been completed by the conveyance of the properties referred t© in Sections 1# S ant # .hereof to the District and the payment of the purchase price thereof to First Parties, or to the party they shall designate, all obligations of all parties t© this agreement shall cease and terminate, in the event the said escrow shall have been completed on or before December 31# 1953# ©r on or before such later date as the parties hereto may hereafter mutually designate, by the conveyance of the properties referred t© in Sections 1, 5 am 6 hereof to the District and the payment of the purchase price pro­vided in this agreement to First Parties, or their nominee, all ob­ligations ©f any party hereto under this agreement not fulfilled up­on the date of completion of said escrow shall remain in full force and effect until thereafter performed in accordance with the provi­sions of this agreement. §g$M&kM* District agrees that it will, at its sols S i