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Page 2 \ December 23, 1953: General Solicitor Bennett of the Railroad Company, informed Attorney Leo McNamee, local counsel for the District, that when the October 15 drafts were sent on to executives in Omaha, the latter rquested that someone go back and discuss them. As a result, Mr. Edward C. Renwick, Asst. Gen. Solicitor went to Omaha for this purpose. In his letter of this date, Mr. Bennett stated: "I am sorry about this delay, but I am sure, since you know the workings of the law department of the Railroad, and that we have to clear these matters with our executives in Omaha before making any submission, handling it in this way will in the end expedite the consummation of the trans­action. " January 13, 1953: A final redraft as revised by the Union Pacific legal staff under the direction of executives, was submitted to the District for consideration, approval and execution. Copies were immediately furnished to all members, counsel and Engineer J.M. Montgomery for study. Approximately two weeks was consumed by the District in processing. January 31, 1953: The final purchase proposal draft submitted to the District on January 13 by the Railroad Company was executed by the District after applying certain minor modifications recommended by the District's Counsel and Engineer. February 12, 1953: General Solicitor Bennett transmitted from Las Vegas to the District a letter dated February 6, 1953, signed by A.E. Stoddard, President, accepting the proposal of the Board of Directors of the Las Vegas Valley Water District dated January 31, 1953. Mr. Stoddard's February 6 acceptance letter contained the follow­ing reservations and limiting conditions: "Your proposal and this acceptance do not constitute a binding contract of purchase and sale, but are intended only to state the basis upon which formal agreements will be pre­pared for execution by you and by the undersigned. "The formal agreementsjbetween the utility for the purchase and sale of the property will terminate Dec. 31, 1953 in the event that the District shall not have paid the full purchase price into escrow on or before that date. "If the utility and the District are unable to reach an agreement within three months (from February 6) upon the terms of formal agreement covering purchase and sale, the Railroad Company reserves the right to discontinue nego­tiations or any further obligation." (Noate: This would have the effect of limiting completion of the Agreements now being formulated to a deadline of May 6, 1953 which is now past),