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On motion duly seconded, it was RESOLVED, that the action of Vice President Strong and Secretary in executing agreement N.L.D. No, 1635, dated June 15, 1946, between LVL&WCo., called ''Company1’, and G. C, Metzger, called "Subdivider", providing for: 1 - Construction by Company of approximately 1300 ft. of 6" cast iron water pipe line to serve Block 2, Tract 4, of Boulder Dam Home-sites Addition, Las Vegas, Nevada; 2 - Subdivider to deposit $3,400.00 to cover estimated cost of pipe line, and in event actual cost is more or less than $3,400.00, Subdivider to pay excess or be refunded difference as case may be; 3 - Subdivider to furnish necessary easements where -said pipe line is laid along and under private property; 4 - Subdivider to be refunded cost of pipe line at rate of 50$ of monthly revenue received from customers in said Block 2 taking water from said pipe line for a period of ten years from the date of completion of said installation, or until the Subdivider has been repaid the actual cost of the line so advanced by it, whichever event occurs first; 5 - Company to own said pipe line; be, and the same is hereby, ratified, approved and confirmed. -3-