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consumers located in said Blocks 1, 2 and North Half of Block 3 of said Tract taking service from the water mains so installed for period of ten years from date of completion of said installation, or until Subdivider has been repaid the actual cost of installing said water mains, not to exceed, however, the sum of $5,550.00, whichever occurs first; 3 - Subdivider to furnish the Company necessary easements where said pipe lines are to be laid in other than dedicated streets and alleys; 4 - Subdivider to furnish Company bill-of-sale for said water mains; 5 - Company to own said water mains; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of Vice President Reinhardt and Secretary in executing agreement 2448, dated April 9, 1951, between LVL&WCo., called "Company”, and K. H. Vitt, doing business as Model Homes of Las Vegas, called "Subdivider", providing; 1 - Subdivider to pay to Company $7300.00, estimated cost of 1950 ft. of 6" cast iron water main to serve Columbia Heights Addition $1, Las Vegas, Nevada; 2 - Company to refund to Subdivider 50% of monthly revenue received by it from customers located on Lots 1 to 9, inclusive, of Blocks 1 and 2 and Lots 1 to 10, inclusive, of Blocks 11 and 12 of said Addition taking water from the water main so installed for a period of ten years from the date of the completion of said installation, or, until Subdivider has been repaid the actual cost of the line so advanced by it, whichever occurs first; 3 - Company to own said water main; -2-