upr000120 469

> Sears shall have the option to purchase land and improvements at any time after June 1, 19^6, for the purchase price of $1 ,90 0 ,000.00 plus any assessments, less the sum of $2,084.00 for each month Sears shall have made rent payments, by giving Land Company written notice of intention to exercise option; Land Company to furnish at Sears' expense standard policy of title Insurance showing title vested in Sears, except the oil, gas and other minerals and mineral rights and matters more specifically set out in deed; be, and the same is hereby, ratified, approved and confirmed. Following Authority for Expenditure Request, approved by the President, was submitted for ratification: A.F.E. No. 1-1 (W. 0. No. 825-2) issued January 12, 1 9 6 5 , for authority for additional appropriation of $18,750.00, City of Industry, California, required in connection with con­structing 92 ,0 0 0 sq. ft. of 6" asphalt concrete paving on 5” sub­base, including curbing, guttering and catch basins, making deposit with the Vallecito Water Company for the construction of 2 ,7 2 0 ft. of 1 0 " and 3>850 ft. of 8" water lines, including six­teen fire hydrants, and making deposit with the Southern Counties Gas Company for construction of 4,010 ft. of 3” gas lines, in the Handorf Ranch Property Industrial District; also construction of outfall sewer line by County Sanitation District No. 15 of Los Angeles County with funds to be advanced by Land Company; excess due to increased cost of construction work in connection with street Improvements and sewer collecting system, and construction contracts were higher than anticipated, due to increased require­ments: -5-