upr000146 55

o m motion duly second#*l, it w u fO^OhlfiS©* %hat the action of President end Asslst&fit Secretary Higdon in executing and delivering agreement, audit Mo. ©STS, dated Hovesber 26, it®T# between L* ?* L. and W* Os, «* Lessor and Aon* Fast freight, Inc. #.* Less##, under the t*r®» of which this ^ooptay agreed to eons true t a warehouse Stt® of fie# building upon property of 1*# v. L. and W* Co., located at 4 th Street and Mission Rond, Los Angelos* Oaliforals, end to Lease a portion of Mil preeisse to Lessee for handling ccnsclid&ted ear shipments and office, for tern of tea years, eoasseneing upon the date said building is coupleted or ready for occupancy; Lessee agreeing to pay rental at the rate of $ 2 4 7 . 2 9 per month* payable monthly in advance’, provided, how­ever, in the event the actual cost of said improvements be less than the sum of #56,200,00, the iiii monthly rental shall be reduced by as amount s^ual to 1/12 of 1/2 of 8# upon the dif­ference between the actual coat thereof and -said anxious cost, be, and the m m la hereby, ratified, approved and confirmed. following Authority for Expenditure Bequests* approved by the President* were submitted for ratifications A* F. E. Pc* 12 (w. o, he. 33T), issued Peveubcr 3, 193T; Lee Vegas, Ksvsda, purchase 30 meres of land in #| of m k of Section 61, Township 61 East, 2* b# I, IM. Total estima te2d0 eSxouptehn,d itRuerste# 21200*00* chargeable t© Property 'Inveebsente. A* F* E* Mo. 11 {W, o, fo, 666), issued December 21, 199?i Los Angeles* California* acquire 27763 sq. ft, of land in Metropolitan industrial District and con­struct warehouse and office building** ley 11600 sq. ft. ©f 9* asphaltic paving; to provide warehouse and office facilities for Acme fast freight* lac, end International forwarding Company, to be occupied under lease agreement. Total estimated expenditure 020*318*00* chargeable to Investment Account,