Resolved, That the Blue Bird Oil Company, a corporation, give Bernard Baker & Co., real estate brokers, the exclusive option and privilege of purchasing from this corporation, at any time on or before ninety days from the 21st day of January, 1905, all that certain lot, niece or parcel of land, situate, lying and being in the County of Riverside, State of California, and bounded and particularly described as follows, to-wit:
For the sum of Five Thousand Dollars ($5,000), in United States gold coin, payable as follows: $500, upon the execution and delivery of said written option agreement, which said sum shall constitute a deposit and part payment in case said option shall be exercised within the time limited as aforesaid, and the remainder, to-wit: the sum of $4,500, to be paid upon the exercise of said option; said option agreement to provide that said deposit of $500 shall be forfeited to this corporation as liquidated and stipulated damages in the event said option shall not be exercised as here-/inabove mentioned; this corporation, in event of consummation of sale, to furnish the purchaser an unlimited certificate of title, to be issued by the Riverside Abstract Company, showing said premises free and clear of all incumbrances. And the President and the Secretary of this corporation be, and they are hereby, authorized and directed to execute and deliver, in the name, on behalf and under the corporate seal of this corporation, an option agreement as above provided, and in the event of consummation of sale, said President and Secretary are also likewise authorized and directed to execute and deliver to the purchaser a deed, grant, bargain and sale in form, of said above described property, and to execute all papers and perform any and all acts which are or may be necessary to effectuate the purposes of this resolution.
(Corporate Seal.) (Certificate of Secretary: See Form No. 18.)