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THOMAS A. CAMPBELL ^WRESIDENT SPEN^tR L. BUTTERFIELD VICE PRESIDENT WILLIAM COULTHARD SEC'Y-TREAS. HARRY E. MILLER E. OTTO UNDERHILL JAMES CASHMAN JOHN BUNCH 9 age Three. OFFICERS AND DIRECTORS LAS VEGAS VALLEY WATER DISTRICT 9? ? SOUTH 5TH STREET LAS VEGAS, NEVADA TELEPHONE 5920 P. ?. BOX 1440 o p January 31, t953 (») substantially in the form attached hereto, marked Exhibit "A'* and meet© a pert hereof, which agreement the District agrees t© execute simultaneously with the execution of a detailed agreement covering the subject matter of this proposal. All of the wafer distribution facilities now owned and operated by Las Vegas * Land and Wafer Company and which If owns and operates m a public water utility In the City ©f Las Vegan, Nevada, on the sale date, and all automo­tive, shop and other equipment, materials and supplies belonging to las Vegas land and Water Company and used in the operation of said water utility, If is understood that the said distribution sysiem to be conveyed to the District shall include all distribution focifiHes conveyed to or constructed by Las Vegas* Land and Water Company prior to the sole date under contracts made pursuant to Rule 9 of the Rules and Regulations of the Las Vegas Land and Water pony on file with the Public Service Commission of the Stole of Nevada, and similar rules. 1!^°^ SHstHcf to purchase the properties above mentioned is subject to the condition mot the said Railroad Companies shall agree, by a covenant running with the land, that no water atoll shall be drf lied or dug to a depth exceeding erne hundred (ICQ) fee* upon any lands owned by them (other than lands described In paragraph (a) above) in Sections 27, 28, 29, 39, 31, 32, 93, and 34, Township 20 South, Range 6i gewt, M.D.B. & M. (except such fond* within such sections « fie within the boundaries of the shop grounds as hereinafter d»~, fined) for a term ©f fifty (50) years. The term "shop grounds* as used in this proposal shall mean those lands bounded on the wait ®*d 1,600 feet westerly of the westerly line of Main Street in the City f r* Nevada, on the east by the westerly line of said Main Street, on the north by Bonanza Road, end on the south by Charleston Boulevard. 2. As consideration for the conveyance to the District of the properties referred to In paragraphs (a) to (e), inclusive, above, the District droll pay t© such of you «s oil of you shall designate Two Million Five Hundred Thousand Dollars ($2,500,000.00).' hereinafter called basic purchase price*8, subject to the adjustments hereinafter stated. 3. There shaft be added to the basic purchase price to be paid by the District the / following amounts; Y i made by any of you at any Hme and the cost of all material furnished by you to contractors W work performed dudm the periods eutess i. 1952, to ond including the sole date, under" ©enfrocH executed by any /