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upr000120-273
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I agree.LAS VEGAS LAND AND WATER COMPANY RESOLUTION * *' | •' , On motion duly seconded, it was RESOLVED, that the action of President Bailey and Assistant Secretary How on behalf of this Company in executing two amendments of Community Oil and Gas Lease dated March 9, 1966 by and between Las Vegas Land and Water Company as Landowner, and Standard Oil Company of California as Operator, agreeing to amend a number of community oil and gas leases dated December 18, 1944, collectively described as Continental Southern Community Oil Lease, in Long Beach, California, giving Operator the right at its sole option of pooling or unitization, at any time within twenty years from date of amendments, with other leases lying within three miles of the exterior boundary of described areas; royalties to be computed and based upon production allocated under the unitization of said premises; Operator may at its sole option at any time when there is no production in such unit of oil or gas in quantities deemed paying by Operator, terminate such unit by a written declaration thereof, in same manner in which it was created, be and the same is hereby ratified, approved and confirmed. Adopted