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vvu/~l LAS VEGAS LAND AND WATER COMPANY V B J. ROSS CLARK, President, Los Angeles, Cal. C. C. BARRY, auditor, Los Angeles, Cal. C. P. SMITH, SECRETARY, LOS ANGELES, CAL. W. H. LEETE, Treasurer. Los Angeles, Cal. Pacific electric building LOS ANGELES, CAL. LAS VEGAS, NEVADA F. A. WATERS, AGENT, LOS ANGELES, CAL. WALTER R. BRACKEN, VICE-PRES. and AGT., LAS VEGAS, NEV. Page 2, B*B*C# & 1#B*C February 25, 1921# deed to the optionee for the lots so sold# The improvements, plus the $50 consideration to be paid, will fix a value on the lots, which will be in excess of the maximum price wliich has been and is now being paid for adjoining property# Property of this character is assessed for three- fourths of its actual cash value, and that will mean an as­sessed valuation of at least fggl per lot when platted, which the optionee agrees to assume, and pay during the term of the option* Company^s interest, and such being the ease# it will be nec­essary for the optionee to make arrangements for water service which 1 assume can be done under the Same terms as service is now being given to the War die Addition# this will last! I cannot say# but the time se ms opportune to make disposition of the property at this time. are officers of the First State Bank of Las Vegas, and ore thoroughly responsible* It is, of course, understood that the option will be so worded as to protect the Company against 1tecs or other incumbrances during the term, and with the understand­ing that the option shall not be recorded, so as to cloud the title, should the property revert. Baepeetfuily submitted, Vice-President and Agent.