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2 - Company to refund to Subdivider, at quarterly intervals, 35% of the revenue received by it from consumers located within Blocks 1 and 2 of Plunkett Tract - Industrial Subdivision, and taking direct service from water main so constructed, for a period of ten years from date of completion of said installation, or until Subdivider has been repaid actual cost advanced by him (exclusive of cost of construct­ing said fire hydrant connections), whichever first occurs; 3 - Company to own said water main; 4 *- Subdivider to furnish Company easements where said pipe lines are to be laid in other than dedicated streets and alleys, together with Title Guarantee and Policy of Title Insurance; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of Vice President Reinhardt in executing letter agreement MNWL»D. 2772, dated June 21, 1954, with Longley Construction Co., Inc., covering the con-etruction of approximately 520 LP of 6" cast Iron water main and 15 LP of 6W cast iron fire hydrant connection, to serve Blocks 1 and 2 of Plunkett Tract, Industrial Subdivision, Las Vegas, Nevada; consideration $675.00; be, and the same is hereby, ratified, approved and confirmed. There being no further business to be transacted, on motion duly seconded, the meeting adjourned. Attest; (Signed) Wm. Reinhardt (Signed) W. H. Johnson . Chairman Secretary " I, W. H. Johnson, Secretary of Las Vegas Land and Water Company, do hereby certify that the foregoing ie a full, true and correct copy of minutes of meeting of Board of Directors of said Company, Jield July 13, 1954. Secretary, Las Vegas Land and Water Company -5-