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5 ~i.J~~/L~J l~~~l'1 ~'~_T S h.~~J 111JL~ j
fir; ~ Resolution Authorizing Borrowings
r,`„~"'~ (Limited)
.~'
MINUTES Of a meeting of the Board of Directors of...._..._.....~..~~~...~..~..- .................._........_..._..._............_
held at the office of the corporation on the................._...day of......_._... ~i...._.._..__._..., 19...7= ,pursuant to a legal
call therefor, according to the by-laws of said corporation...._ ........................~...~.~._...._......_............-..........presiding.
There were present the following directors
constituting a quorum. Whereupon the following resolution upon motion duly made and seconded was unanimously adopted:
"RESOLVED, That this corporation borrow money from time to time from............' .Z,.. ....................._...............
......................_........._...-•'~Lt--,~i0w-•~`~s---~#~....._.._...._......-........................., in the State of......_.~i................._.
banking corporation duly incorporated, organized and existing under and by virtue of the banking laws of the United States,
the amount thereof not to exceed/yin the aggregate at any one time the sum of.........:._ ..................._..........:...--...:.............._..........:..:........
.....:'~..~b+axanu~ld..:na~..~/.~^..`..' ... ......... ........~ ...-.... -----.... .......-. ......... ..-........DOLLARS ($..~~~sOO...:.h
and that...........-•----- -------------~iwl-•-..~tld..'.~I'~iRA'~`--.tl~...~..........................................-.............................-.................
are hereby authorized and empowered to execute and deliver in the name of the corporation, and under its corporate
seal, its prommissory Note or notes therefor to said Bank for all such sums so borrowed, upon such terms in respect to time,
amount, rate of interest or otherwise as may be agreed upon, to discount, assign, and transfer, and to execute contract
of endorsement and guaranty on accounts and bills receivahle of which this corporation is the owner, or in which it has
an interest, this resolution constituting a continuing authority therefor on behalf of this corporation, and the persons
hereinbefore authorized to execute and deliver such note or notes, endorsements or guarantees, are hereby authorized
and empowered to deliver and pledge as collateral security for the payment of any or al] such notes, endorsements or
guarantees, such assets of this corporation as may be required and agreed upon between them and the said Bank, and to
enter into such agreement with said Bank as it may require in relation to the collection or sale of such collateral assets,
with the further power to execute and deliver in the name of and under the seal of said corporation real property mortgages,
chattle mortgages, bills of sale, conditional sale contracts and other instruments, in writing, which shall be expedient or
necessary in the pledging as collateral security for the payment of auy or all of such notes, endorsements or guarantees, any of
the assets of this corporation, and the several powers and authority hereby given shall continue until it shall have beelr
revoked by this corporation and formal written notice of such revocation shall have been given to said Bank.
"RESOLVED, That the Secretary of this corporation be and he is hereby authorized and directed to deliver to said
Bank a copy of these resolutions, properly certified by him, i1r evidence of the authority of said persons to make said
loans and execute and deliver the notes as above specified and secure payment thereof as above provided."
THIS CERTIFIES That the undersigned is the Secretary of the above-named corporation; that the foregoing is a
full, true and correct copy of a resolution unanimously passed by the Board of Directors thereof at a meeting of said
Board held on the day and at the place above specified, legally called and held and at which a quorum was present
and voting.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of said corporation this
i
..............~r .....day of..................~............, 193..J~..=........ _ -- _ i
,~
' 1
Secretary.
(corporate seal)