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LVL**GO. hC3QLUTIu« U 1 (Valleeito Water Co.) On motion duly seconded, it was EES0LVSU, that the notion of President Stoddard in executing Agreement C.L.U. Ko. I4fc>kl, C.D. Ho. 44598-1 * dated November 26, 19 6 3 , between Las Vegas Land and Water Company, called "Applicant*, and Valleolto Water Company, called ‘’Utility*, providing: 1 . utility, at its expense, to furnish necessary mater­ials and labor and oonstruot water main extension to serve Lots 1 and 2 of Blook 21 of iraot 13^3* City of Industry, California; 2. Applicant to advance Utility 12*100.00, estimated cost of installing water main extension, prior to commencement of construction. If actual cost to Utility of said water main extension varies from amount advanced, Applicant shall pay to Utility upon demand the excess of such cost over amount advanced, or, Utility shall refund to Applicant upon its demand the excess of such amount over suoh oostj 3 . Utility to own said water main extension; 4. Utility to refund to Applicant each year after commencement of rendition of service, 22% of estim­ated annual revenue of prior calendar year received by it from consumers taking direct servloe from water mains installed, for period of 20 years from date of completion of said installation, but the total of refunds made by Utility shall not exceed amount of advance and payment made by Applicant; be, and the same is hereby, ratified, approved and confirmed. A true copy. Attest; (Ugd) I. E. Plxon Secretary Adopted