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Secretary Bachman in executing agreement O.L.D. No. 10555, dated November 50, 1950, effective January 1, 1950, between LA&SLRRCo. and UPRRCo., called “Railroad Company”, and LVL&WCo., called “Water Company”, covering the furnishing of water by Railroad Company to Water Company at Las Vegas, Nevada, and charges therefor; subject to termination by either party upon twelve months' written notice; said agreement terminating as of December 31, 1949, present agreement C. A. No. 7322, dated March 50, 1929, between LA&SLRRCo. and the Water Company; 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 “N“L.D» 2424, dated December 18, 1950, between LVL&WCo., called “Company”, and Federal Homes, Inc., called “Subdivider”, providing; 1 - Subdivider to; (a) Pay to Company $2210, estimated cost of approximately 920 ft. of cast iron pipe (exclusive of 800 ft. of pipe to be furnished by Subdivider) to serve Block 1, Beverly Green Tract, Las Vegas, Nevada; (b) Deliver to Company 800 ft. of 10“ cast , . iron pipe at agreed value of $1760, to­gether with bill-of-sale therefor; 2 - Company to refund to Subdivider 50^ of monthly revenue received by it from customers in said Block 1 taking water from said water main so installed for period of ten years from the date of the completion of said installation, or until Subdivider has been repaid the actual cost of said line so advanced by it (excluding the cost of 800 ft, of 8“ cast iron pipe and the actual cost of 120 ft. of fire hydrant lateral), plus the agreed-upon sum of $1760 for said material furnished by Subdivider, whichever occurs first;