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s J. ROSS CLARK, President, Los Angeles, Cal. C. C. BARRY. Auditor, Los Angeles, Cal. C. P. SMITH, Secretary, Los Angeles, Cal. W. H. LEETE, Treasurer, Los Angeles, Cal. OFFICES PACIFIC ELECTRIC BUILDING LOS ANGELES, CAL. AND LAS VEGAS, NEVADA F. A. WATERS, AGENT, LOS ANGELES, CAL. WALTER R. BRACKEN, VlCE-PRES. and AGT. LAS VEGAS, NEV. February 25, 1921. Sale of land. Las Vegaa. Mr. E. B. Calvin, Mr. J. Ross Clark, Special Committee, City. Gentlemen:- Referring to our conversation, relative to the sale of the triangular tract lying east of Clark’s Las Vegas Townsit©, I have had inquiries for an exclusive op­tion to purchase, covering a period of three years with the understanding that the optionee will plat and improve the ground and make payments at the times and in the man­ner following:- First: fin exclusive option to purchase the prop­erty at any time within three years from the date hereof for |ll,200 with interest at the rate of 7% per annum, payable semi-annually, with a partial payment of cash in such an amount as will protect the Company. Second: Parties will enter into possession under an optional contract to purchase within the three years and will plat, stake and install curbing on each sub-division and ex­tend the water system so as to give service to the entire tract, the expense of which to the optionee, from the estimates sub­mitted by the engineering department, will be in excess of $13,000.00. Third: Fay to the Company from time to time as sales may be made by the optionee, $50 per lot for the 224 lots em­braced in said sub-division, as shown by the preliminary plat herewith submitted, and upon the payment of $50 per lot for any two or more contiguous lots, together with 1% interest on all money then due on the option, the Company will deliver a