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December 3, 1948, between LVL&WCo., called "Company", and Con­tractors Equipment & Supply Co., Inc., called "Subdivider", cov­ering construction of 1750 ft. of 6" cast iron water mains to serve portion of Block 4, Mayfair Tract No. 2, Las Vegas, Nevada, and providing: 1 - Subdivider shall pay to Company $3,368.75, the agreed-upon value of 1750 ft. of 6" cast iron water pipe; 2 - Subdivider shall furnish necessary material and fittings and shall construct said pipe line, all estimated to cost $6,580; 3 - Company shall refund to Subdivider 50/S of monthly revenue received by it from customers located on Lots 8 to 41 in Block 4 of Mayfair Tract No. 2, and on Lots 1 to 7, inclusive, Block 4, Mayfair Tract No. 1, taking water from said water main for period of ten years from date of completion of said installation, or until Subdivider has been repaid actual cost of said water mains, but in no event shall refund exceed sum of $6,580; 4 - Company shall own said water mains; 5 - Subdivider shall furnish necessary easements where said water mains are to be laid in other than dedicated streets and alleys or easements; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of Vice President Stoddard and Asst. Secretary Bachman in executing LVL&WCo. L. S. Deed Audit No. 4999, dated December 28, 1948, conveying to George W. Olsen and Ruth Olsen Lot 10, Block 3 of Tract No. 2348, Yermo, California; subject to: 1 - Taxes for the fiscal year 1948-1949; 2 - Conditions, restrictions, reservations, easements and encumbrances of record; *