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to also deliver to Elks abstract-of-title showing marketable title to said premises with certain reservations, including encumbrances made 0^ suffered by Elks subsequent to March 20, 1939, and except all encroachments upon and along the south side of said premises; or, in lieu of said abstract, the Com­pany may deliver to Elks a policy of title insurance, insuring fee simple title to said premises to be vested in Elks free and clear of all encumbrances, with certain exceptions, in­cluding encumbrances made or suffered by Elks subsequent to March 20, 1939, and except all encroachments upon and along the south side of said premises; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of Vice President Strong and Secretary in executing lease agreement, C. L. D. No. 4026, dated March 4, 1942, between Las Vegas Land and.Water Company, Lessor, and O ’Keefe & Merritt Co., Lessee, covering portion of Lots 86 and 87 of Union Pacific Tract, Los Angeles, Cal­ifornia, for the storage and handling of heavy iron scrap; for term beginning September 20, 1941, and extending to September 20, 1942; rental $15,00 per month, payable semi­annually in advance; subject to termination by either party upon 30 days’ written notice; be-, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of Vice President Strong in executing rider, dated March 4, 1942, extending to March 31, 1943, term of lease Audit No. 10135, between Las Vegas - 1 0 -