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* Regular monthly meeting of Board of Directors, Las Vegas Land and Water Company, was held in the Company1s principal office in the Union Pacific Building, 422 West Sixth Street, Los Angeles, California, at 11:00 A. M., Tuesday, February 11, 1947. Secretary Bachman in executing agreement with The Quaker Oats Company, C.L.D. No. 7720, dated December 5, 1946, extending to March 31, 1947, option granted under agreement C.A. No. 10353, dated March 7, 1946, to purchase Lots 60, 61 and 62, Union Pac­ific Tract, Los Angeles, California; as consideration for grant­ing said extension, Quaker Company agrees to pay an amount equal to one-fourth of general and special taxes levied and assessed upon the option parcel for the fiscal year 1946-1947, including any special district levies, payment for which is included therein and collected therewith, plus an amount equal to any assessments Present: Frank Strong Wm. Reinhardt E. E. Bennett W. T. Price A. M. Folger Absent: G. F. Ashby Vice President Strong called to order and presided over the meeting. Minutes of meeting of Board of Directors, held January 14, 1947, were read and approved. On motion duly seconded, it was RESOLVED, that the action of President and Assistant -1-