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ending November 30, 1963> rental at rate of $400.00 per month, payable monthly in advance; Lessee to pay Lessor at commencement of term of said lease the sum of $800.00, to be applied as first and last month*s rent of said term; said premises to be used for purpose of conducting a Travel Agency, together -with such other uses as may be incidental thereto; Lessee being granted option to extend the term hereof for an additional 2-years upon the same terms and conditions by giving written notice to Lessor of its intent to exercise option no later than October 1, 1963; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of President Stoddard and Assistant Secretary Bachman in executing Agreement C.L.D. No. 14031, Audit No. 10891, dated November 24, 1961, between Las Vegas Land and Water Company, called "Land Company", and Wilson & Co., Inc., called "Wilson", granting Wilson, within period of six months from date hereof, privilege to purchase Lots 1 and 2, except the southerly 20 feet thereof, in Block 18, Tract No. 1343* City of Industry, County of Los Angeles, California, for purchase price of $116,364.00, plus any assessments for public improvements levied and assessed upon or assignable to said land, which are chargeable to Capital Account, Wilson as further consideration shall, within one year from date hereof, commence construction upon said land of a meat processing and distributing plant, containing floor area of not less than 60,000 square feet. Within ten days ^ffter delivery of purchase price into escrow by Wilson, Land Company shall deliver In escrow deed conveying said land, together with policy of title