upr000140 127

of purchase price, to deliver to Purchaser grant deed, together with policy of title insurance, conveying the option parcel to Purchaser, subject to: 1 - General and special taxes for the then current fiscal year, including any special district levies, payment for which is included therein and collected therewith; 2 - Conditions, restrictions, reservations and easements of record; excepting and reserving to Land Company all minerals and mineral rights, including oil and gas and rights thereto, without right of entry; Purchaser, as consideration for granting of said option, to pay to Land Company an amount equal to general and special taxes, including any special district levies, payment for which is included therein and collected therewith, assessed against the option parcel prorated to the option period, and also pay to Land Company an amount equal to any assessments for public improvements assessed upon the option parcel during the option period which are not properly chargeable as capital expenditures; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of Vice President Reinhardt in executing consent to assignment (C.L.D. No. 10086, dated April 25, 1949), by J. M. Robertson, J. B. Kitt and L. L. Bendinger, doing business as Signal Pipe Line Construction Company, Assignor, to Signal Pipe Line Corp., Assignee, of lease agreement Audit No. 10481, dated December 1, 1948, expir­ing October 31, 1950, between this Company and J. M. Robertson, J. B. Kitt and L. L. Bendinger, doing business as Signal Pipe -2-