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ARTICLE III. It is mutually agreed: 1* That the water main so installed shall he and remain the property of the Company. 2, Should the actual cost of the installation of said water main exceed the estimated cost of $3,180.00, then and in that event, the Subdivider will pay the excess to the Company, upon de­mand; if said actual cost be less than $3,180.00, then the Company will pay to the Subdivider the difference between said estimated cost so advanced and the actual cost. By actual cost is meant the cost of all material and supplies delivered to the job, the cost of all labor employed in connection with the installation of said water main, the cost of premium on contractor^ surety bond, Public Liability, Property Damage and Contractor^ Contractual Liability Insurance, plus ten percent (10$) for supervision and overhead. 3. This agreement shall inure to the benefit of and be binding upon the heirs, executors, administrators, successors and assigns of the respective parties hereto. IN WITNESS WHEREOF, the parties hereto have executed this agreement as of the day and ye&r first above written. I M S