upr000103 25

f8XS JMSaBEBBST, made and entered into this day /of _______ 1 9 5 6 , by LOS ANGELES & SALT LAKE RAILROAD COMPANY and its Lessee, UNION PACIFIC RAILROAD, Utah corporations, LAS VEGAS ? LAND AND WATER COMPANY, a Nevada corporation (hereiaaftb^coilective-ly Called ''First Parties**) and LAS VEGAS VALLEY WATER DISTRICT, a public corporation created and existing pursuant to the provisions of Chapter 167 of the 1047 Statutes of Nevada as amended by Chapter 130 of the 194© Statutes of Nevada and as amended fey Chapter 307 pt the 1951 Statutes of Nevada, Second Patty (hereinafter sometimes called "District"). RECITALS | Ifj UndCf date of June 1, 1953, the'parties.hereto entered into a certain agreement therein and whereby the First Parties agreed to sell to the District certain real property, together with all the water and rights to water rising upon or flowing from any wells or Springs then or' thereafter.located upon said real property and all watfr production/ storage, transmission and distribution facilities', including certain, easements and rights-of- ' way,; all as more particularly described in said, contract. Section 5 of s a i d 'centractiprovided for certain work, consisting (amCng Cther things) of ihm construction of certain pip® lines/ relocation of power linps,'removal-of certain pipe lines and certain power lines, to he ...doss at-. the’.axpease of 'the District* ; Said section. ;5 further provides as follows 5 ;..-/ "It; is agreed by the parties hereto: that" the estimated; cost of the work to be performed pursuant to this Section 5, elusive of supervision and engineeFing/ 1® the sum of Three Hun­dred Twenty-Thousand, Dollars- ($320|000.0©) * within the time and; in the manner provided in Section f hereof the District shall de­posit in the escrow referred to in ./Section 7 said sum. of'Throe Hundred Twenty Thousand Dollars ($#0,000.00) plus a sum equal to ten percent (10%) thereof, the total of both of said sums being the aggregate amount of Three Hundred Fifty-twoThousand Dollars ($352,000.00). (Said aggregate amount of Three Hundred Fifty-two Thousand Dollars ($352,000.00) is herein sometimes referred to as "Relocation Fund">} The escrow instructions referred to in Sec-, tlon 7 steal. 1 .provide for disbursements'- by the Escrow Agent-from. said RelocationFund pursuant to.the prpvidioas of this Section. 5 ... ., *'*When all the work provided for in Section 3’ has been completed and all contractors employed either b y t h e District or the First Parties, shall, have,been-paid in full,-/the District,/and / the First; -Partiesshall so notify the Escrow Agent;,,/and thereupon any portion of the Relocation Fund remaining in thofeaeds of the Escrow' .Agent shall be paid to the District.-"