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V any date in such notice stated, not less, however, than ten (10) days subsequent to the date on which such notice shall be given; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of Vice President Payne in executing rider C.L.D. No. 11873-3» dated January 25, 19^5» ex­tending to and including April 8 , 1970, term of Contract Audit No. 10789 dated June 8 , 1955* expiring April 8 , 1 9 6 5 , between Las Vegas Land and Water Company and California Interstate Telephone Company, covering construction, maintenance, operation, repair and removal of telephone line for transmission of electricity for telephone purposes over and across certain property of the Land Company at Yermo, San Bernardino County, California; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of Vice President Payne and Secretary Dixon in executing agreement C.L.D. No. 15055* dated February 9* 19^5> between Las Vegas Land and Water Company and Malmo, Inc., by which Malmo grants Land Company option to purch­ase parcel of land and Improvements thereon, in City of Vernon, California, option to commence on February 9* 1965* and continue for a period of 45 days thereafter, as consideration for option Land Company shall pay to Malmo the sum of $25*000.00 on the date of agreement, purchase price for said land and Improvements shall be $1,900,000.00, Land Company shall have the right to exercise the option by delivering written notice to Malmo of its intention to do so and by delivering into Escrow $1,875*000.00, being the -3-