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special taxes and assessments that may be levied against the property described in said agreement during the extended term, and providing further that deed mentioned in said agreement shall also except and reserve unto LVL&WCo., its successors and assigns, all water and water rights appurtenant to the land conveyed; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, the following resolution was unanimously adopted; WHEREAS, under Contract Audit No. 10300, dated January 1, 1945, this company sold to Orange County Valencia Association pack­ing house and underlying realty at Anaheim, California, for con­sideration of $27,500, payable 15$ down and balance in 180 monthly installments of $172.87, beginning February 1, 1945; title to said property being conveyed to the Association by L.S. Deed Audit 4733, dated April 19, 1945, the Association delivering to us its note supported by trust deed; and WHEREAS, said Association requested deferment of principal payments for one year commencing May 1, 1950; THEREFORE, BE IT RESOLVED, that the action of President in executing letter agreement CLD No. 6177-1, dated May 10, 1950, with Orange County Valencia Association, providing for; 1 - Deferment of said principal payments for one year commencing May 1, 1950; 2 - Payment of interest in amount of $55.77 per month to and including April 1, 1951, and payment of $189.11 per month thereafter as set forth in schedule of payments attached to said letter agreement; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was