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N 3 - Subdivider to be refunded cost of mains at rate of 50$ of monthly revenue received from customers in Blocks 2 and 3 taking water from said mains during period of ten years from date of comple­tion, or until actual cost repaid, whichever event occurs first. 4 - Subdivider shall furnish necessary easement right-of- way for said water mains. 5 - Company shall own water mains; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of Vice President Ashby and Assistant Secretary Bachman, on behalf of this Company, in execut­ing grant deed, L. S. Audit No. 4752, dated June 25, 1945, convey­ing to Embecie Corp. the west half of Lot 104 and all of Lots 105 and 106 in Union Pacific Tract, Los Angeles, Calif.; excepting and reserving unto this Company all minerals and mineral rights, including oil and gas and rights thereto, without right of entry; subject to: 1 - General and special taxes for the fiscal year 1945-1946, including any special district levies, payment for which is included therein and collected therewith. 2 - Conditions, restrictions, reservations, ease­ments and encumbrances of record; consideration $10.00 and other good and valuable consideration; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of Vice President Strong on behalf of this Company in executing letter agreement, NLD 1356, dated July 3. 1*945, with Nevada Construction Company, covering construction and laying of approximately 1200 ft. of 6Si cast 5,rcn -4-