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\ Western Auto Supply Company, a Delaware corporation, to lease with option to purchase, for a term of ten years, a parcel of land described therein, located in City of Industry, California, together with building, spur track, and other improvements to be constructed by Las Vegas Land and Water Compahy> term of lease to begin when building, spur track and other improvements have been completed and Land Company notifies Western Auto in writing of such fact| annual rental to be computed on five per cent (5%) of $308,186o00, which sum is established as land value, five per cent (57o) upon actual cost for construction of track, estimated at $7,000o00, and seven and one half per cent (7%%) upon the actual cost for construction of building and other improvements, as provided in agreement, estimated at $l,499,000o00; actual costs, however, shall govern; said annual rent shall be payable in equal monthly installments in advance, estimated to be $10,682o03, arrived at as follows: l o Monthly rent for land 000 000 ®00 $ 1-,284o i l 20 Monthly estimated rent for spur track 0«0 29«17 30 Monthly estimated rental for building and other improvements «0» .0 e 0 0o 9fl368e75 $10,682o03 The actual monthly rent shall be based on the estab~ lished land value and actual cost of spur track, building and other improvements, as specified in agreement, 6-