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m On motion duly seconded, it was RESOLVED, that the action of Vice President Stoddard and Asst. Secretary Bachman in executing rider C. D. No. 23634-E, dated October 18, 1948, extending to May 1, 1954, term of lease agreement A-48147, dated December 3, 1938, expiring May 1, 1949, with LA&SLRRCo. and its Lessee, UPRRCo., Lessor, covering a portion of Lot 6, Tract No. 8626 (being southeast corner of Pico Blvd. and Soto St.), Los Angeles, Calif.; rental $446.23 per annum, payable monthly in advance, with option to renew for an additional five-year period, and further option to purchase said premises for sum of $11,155.73, and privilege of subleasing said premises;-be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was RESOLVED, that the action of Vice President Reinhardt and Secretary in executing agreement "N"L.D. 2109, dated October 20, 1948, between LVL&WCo., called ''Company", and Philip A. Shipley, W. J. Moore, Jr. and Ballard Barron, called "Subdivider", providing; 1 - Subdivider at its expense to furnish necessary materials and labor and to construct approximately 5200* of 8" and 6" cast iron water mains to serve Blocks 1, 2 and North half of Block 3, Crestwood Homes Tract, Las Vegas, Nevada, at estimated cost of $17,790; 2 - Company to refund to Subdivider 50$ of monthly revenue received by it from sale of water from said mains to consumers in said Blocks 1, 2 and North half of Block 3, for period of ten years from date of installation, or until Subdivider has been repaid the actual cost of said mains; Subdivider proposes to construct at some future time additional 6" cast iron water mains to serve South half of Block 3 and Blocks 4, 5, 6, 7 and 8, at estimated cost of $14,500, which Company agrees to refund under similar arrangement; pro­vided, however, that total refunds under said -3-