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1 2 3 4 5 6 7 /7 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 / and shall be desasi to exclude any of the above mentioned propertiej which are retired subsequent to January 1, If50. section 4 : It Is agreed that the market value of the lands and rights of way mentioned in subparagraph (a) of Section 3 as of January 1, 1950 is #75,900.00. It is agreed that the origi­nal cost of all of the structures and facilities referred to in subparagraph (b) of Section 3 hereof as of January 1, 1950 is #779,254.00 and that the accrued depreciation thereon as of said date is #10S,511.00^4^Stt©h costs and -value® less depreciation ac­crued to January 1, 1950 total #746,643*00 and are hereafter refer-red to as the agreed value” of the water production ?a ? facilities as of January 1, 1950. Section 5 : The cost to Second Party of producing, trans­porting and delivering water from the water bearing lands into the distribution systems of Second Party and Water Company shall be deemed to include: (a) The actual cost to Second Party of labor and materials used in and directly assigned to such work. (b) A reasonable charge representing the actual cost to Second Party of all labor used in such work not directly assigned thereto In payroll distribution. (c) A reasonable charge representing the actual cost to Second Party for supervision of such directly and indirectly assigned labor. (d) A reasonable charge representing the actual cost to Second Party of vacation allowances with respect to all labor .5 .