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LVL&WCo. and Max Pray-Davis & Duty, a copartnership, comprised of Max Pray, Eugene L, Davis and George L 0 Duty, for term beginning March 1, 1957 and continuing in effect for period of five years thereafter, covering license for a 2-1/2 inch steel pipe line for conveyance of waste water over and across property of Land Company near California and Patterson (Prospect) Streets, Long Beach, Calif­ornia; rental $5<>00 per annum payable annually in advance; said license being subject to revocation by Land Company on 60 days written notice, and also to agreement between Los Angeles & Salt Lake Railroad Company and Pan American Petroleum Company, dated July 12, 1923s Land Company9s Contract Audit Ho. ^292 (Land Company has succeeded to the interests of Los Angeles & Salt Lake Railroad Company and Richfield Oil Corporation has succeeded to the interests of Pan American Petroleum Company), covering lease of said property for the purpose of prospecting and drilling for oil, gas and other hydrocarbon substances, and Licensee shall secure written consent of Richfield Oil Corporation before doing any work in connection with construction of the pipe line hereinabove referred to; be, and the same is hereby, ratified, approved and confirmed.. Resignation of Wm0 Reinhardt as Director, Chairman of Executive Committee and Vice President was presented, as follows? "Los Angeles, California - March 11, 1957 "Board of Directors, Las Vegas Land and Water Company, Los Angeles, California<> Gentlemen? I hereby tender my resignation as Director, Chairman of Executive Committee and Vice President of Las Vegas Land and Water Company, to b© effective March 31, 1957. Yours very truly, (Signed) Wm0 Reinhardt"