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OFFICERS AND DIRECTORS THOMAS A. CAMPBELL President SPENCER L. BUTTERFIELD VICE PRESIDENT LAS VEGAS VALLEY WATER DISTRICT WILLIAM COULTHARD SEC'Y-TREAS. HARRY E. MILLER E. OTTO UNDERHILL JAMES CASHMAN JOHN BUNCH 900 SOUTH 5TH STREET LAS VEGAS, NEVADA TELEPHONE 5 9 2 ? January S?-, f**®* 14 is te»JbaaJfaaJA«r jaahamjf.£gg£s 1952. the difference shall be deducted from amber i, *93 . me basic purchase drico. it Is also understood that the final contract tor the purchase and •ale' of maprc^erHsw referred fa In Section amounts standing on the books a? hereof jjwirprovfde for the dl es Land oneT Hon of the sale Q UtlS^Tac^^fi^aS^GCOui^ 'Rftcaiygfaia. Accounts Faycbte.^.,AchKmce Payment of Water R en^il7^C7"wd wi 11 further provide for adjustments In the basic purchase price by reason "WUra^sposIKon of the amounts in said accounts. 6. It is further understood that Las Vegas Land and Water Company has outstanding contracts whereby certain subdivides or applicants (a) Have deposited sums of money with it at advances for the construction of water mains, or (b) have at their own expense constructed and conveyed to Los Vegas Land and Water Company water mains to serve properties being developed by them, subject to refund of the cost pursuant to the sold Rules and Regu­lations of the ten Vegas Land and Water Company. Upon the sale date all such contracts which or* still wholly or partially unperformed shell be assigned to the District, and the District wilt, os of said date, assume alt liabilities,, including liability for further refunds, under said contracts, in the event there core In the pawessston of the Las Yogas Land and Water Company upon the sole date sums of money deposited with It« advances for Hie construction of water mains which have not been expended for that purpose, said unexpended sums shall be paid to the District to be used by the District in accordance with the provisions of sold contracts. 7. All taxes levied and assessed upon or properly attributable to any of the properties referred to in paragraphs (a) to (e) of Section I hereof in the calender year In which the solo date occurs shall be prorated between you and the District as of the sale date and the •scjr purchase price adjusted accordingly. 8. Sold purchase price shall be paid in cash or In such other medium of payment as you may designate. It is understood that In order to finance this purchase It Is necessary that the undersigned be authorised to issue bonds pursuant to the statute under which the undersigned was created and is acting. The District agrees to duly call cm election on or before August 1, 1953, for the purpose of obtaining authority to Issue and sell bend* for the purchase of the properties herein mentioned. Therefore one of the conditions of this offer 1$ that it shall not be binding upon the undersigned until Its bonds for such pur­pose be authorised and sold end the money therefrom is avaiidhie. This offer shaft remain