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deed for Option Parcel No. 2 shall convey title subject to: (a) Taxes for the fiscal year in which said option is exercised, whether yet payable or not, and taxes for all subsequent years; (b) Conditions, restrictions, exceptions, reserva­tions, easements and encumbrances of record; (c) Easement for flood control purposes granted Los Angeles County Flood Control District, recorded in Book 18176, Page 173, Official Records of Los Angeles County; said deeds excepting and reserving unto E. C. Woodward and Citizens National Trust & Savings Bank of Los Angeles, as Trustees under the Will of August V. Handorf, deceased, all minerals and mineral rights; also, reserving an easement for sanitary sewer pipe line and Incidental structures along, across and over a portion of each parcel; Purchaser in consideration for said option, agreeing to pay all taxes and assessments not charge­able to capital account, assignable to the option parcels; be, and the same is hereby, ratified, approved and confirmed. Following Authority for Expenditure Request, approved by the President, was submitted for ratification: W. 0. 826, issued December 31, 1958, retirement of two 20 ft. x 28 ft. frame garages sold to W. J, Mazzetti, Max L. Cardey and Mel Alexander, dba Krinard Packing Com­pany by Bill of Sale, Audit No. 10840, dated September 16, 1958. Credit Account - Real Estate Sold - $939.00; Charge­able Accrued Depreciation - Warehouses, Packing Houses & Equipment - California - $860,00; Sale Price - $800.00; Credit to Profit on Sales of Real Estate - $721.00. 3-