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V the note as herein provided; Las Vegas Land reserves the right to refuse to release any lots in the event that Las Vegas Land, in its sole discretion, determines that the sequence in which Northwest proposes to release lots does not adequately protect its security for the loan; in disbursement of this loan, an account shall be opened by the joint venture with United California Bank by August 1, 1968, and any checks drawn upon said account must bear the signature of both joint venturers, an initial sum of $1,750,000o00 will be deposited by Las Vegas Land at the time Pyron Company causes a grant deed to the real property to be tendered to the joint venture and when Title Insurance and Trust Company can issue a title insurance policy showing title vested in Northwest Whittier Properties subject only to encumbrances, liens, restrictions, reserva­tions, easements and exceptions of record; thereafter, Las Vegas Land shall make deposits in said account sufficient to cover checks drawn thereon up to the maximum amount of the loan, provided, however, that Northwest shall provide written notice signed by both venturers that checks are to be drawn ten days prior to the date of any such check, Las Vegas Land must give written approval of any sale or disposition of any joint venturers’ interest, construction contracts for devel­opment of the real property, their negotiating or letting, -3