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and Secretary in executing Agreement ”N ”L.D. 2526, dated October 20, 1951, between LVL&WCo., called ’’Company”, and Southridge Development Company, called ’’Subdivider”, providing: 1 - Subdivider to pay to Company $7,070, estimated cost to Company of constructing approximately 1160 lin. ft. of 6” cast iron water main, 520 lin. ft. of 8” cast iron water main, and 10 lin. ft. of 6” cast iron fire hydrant connec­tion, to serve South Half of Block 4, North Half of Block 5 and portion of Block 6, Southridge Addition, Las Vegas, Nevada; 2 - Company to refund to Subdivider at quarterly intervals 35$ of revenue received by it from customers located within said area taking direct service from the water mains so con­structed, for period of ten years from date of completion of said water main, or until Subdivider has been repaid the actual cost of said line, exclusive of the cost of said fire hydrant connection, whichever first occurs. 3 - Company to own said water mains; 4 - Subdivider to furnish Company necessary ease­ments where said pipe lines are to be laid in other than dedicated streets and alleys; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, the following resolution was unanimously adopted; WHEREAS, LVL&WCo., called ’’Company”, entered into Agreement "N”L.D. 2401, Audit No. 10549, dated August 4, 1950, with Royes J. Peterson, called ’’Subdivider” , providing for the construction of water main in Block 1, El Centro Addition, Las Vegas, Nevada; and WHEREAS, Section 2 of Article II of said agreement provides Company is to refund to Subdivider 50$ of monthly revenue received by it from customers in Block 1, El Centro Addition, taking water from said main for period of ten years -3-