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belonging; subject to: 1 - Taxes and assessments levied on or assessed against said property subsequent to the year 1950; 2 - Conditions, restrictions, reservations, easements and encumbrances of record; excepting and reserving to LVL&WCo. all minerals and all mineral rights, including oil and gas and rights thereto, and right to remove any and all such substances, without right of entry; consideration $10,00; be, and the same is hereby, rati-field, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of Vice President Reinhardt and Secretary in executing agreement nN nL.D. 2427, dated Jan­uary 29, 1951, between LVL&WCo., called "Company”, and Federal Development Co., called "Subdivider", providing: 1 - Subdivider, at its expense, to furnish necessary materials and labor and to construct 2000 ft. of 6" water main and 1090 ft. of 8" water main, to serve Tract #1, Westleigh Addition, south of Charleston Blvd., Las Vegas, Nevada, at agreed cost of $12,927.60; 2 - Company to refund to Subdivider 50^ of monthly revenue received by it from con­sumers in said tract taking water from said water mains for period of 10 years from date of completion of said installa­tion, or until Subdivider has been repaid the agreed upon cost of $12,927.60; 3 - Subdivider to furnish necessary easements where said pipe lines are to be laid in other than dedicated streets and alleys; 4 - Subdivider to furnish Company bill-of-sale for said water mains; 5 - Company to own said water mains; be, and the same is hereby, ratified, approved and confirmed. -3