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Union Pacific, et al. 7. December 10, 1952 in such sections as lie within the boundaries of the shop grounds as hereinafter defined) for a term of fifty (50) years* The term "shop grounds’1 as used in this proposal shall mean those lands bounded on the west by a line parallel to and 1,600 feet westerly of the westerly line of Main Street in the City of Las Vegas, Nevada, on the east by the west­erly line of said Main Street, on the north by Bonanza Road, and on the south by Charleston Boulevard. 2. As consideration for the conveyance to the District of the properties referred to in paragraphs (a) to (e), in­clusive, above, the District shall pay to such of you as all of you shall designate Two Million Five Hundred Thousand Dol­lars (#2,500,000.00), hereinafter called "basic purchase price", subject to the adjustments hereinafter stated. 3. There shall be added to the basie purchase price to be paid by the District the following amounts: (a) All payments made by any of you at any time and the cost of all material furnished by you to contractors for work performed during the period,September 1,1952,to and including the sale date, under contracts executed by any of you with contractors for the construction of additions and betterments to the water production facilities and the water distribution facilities