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certain of its rights under the Agreement and the Note, as
described above, to the Bank upon the terms and conditions as set
forth in said form of Assignment, submitted to and reviewed by
the Board of Directors of the Issuer on the date hereof, with
such changes from the form of Assignment presented to this
meeting not, inconsistent with this Resolution as shall be
approved by the officers of the Issuer executing the Assignment,
such officers' signatures thereon being conclusive evidence of
their approval thereof.
Section 7. Authorization of Bond Purchase Agreement.
The Issuer is hereby authorized to enter nto the Bond Purchase
Agreement, in substantially the form presented to this meeting as
marked Exhibit Cl under which the Issuer agrees to sell the Bond
to the Bank, as Purchaser, upon the terms and conditions as set
forth in said form of Bond Purchase Agreement, submitted to and
reviewed by the Board of Directors of the Issuer on the date
hereof, with such changes not inconsistent with this Resolution
as shall be approved by the officers of the Issuer executing the
Bond Purchase Agreement, such officers' signatures thereon being
conclusive evidence of such approval.
Section 8. Aeproval of Bond; Execution of Bond and
Documents. The of the Bond set forth in the Bond Purchase
Agree menE presented to this meeting, subject to appropriate
insertions and revisions in order -to comply with the provisions
of the Bond Purchase Agreement as executed be, and the same
hereby are, approved, and when the same shall be executed on
behalf of the Issuer in the manner contemplated by the Bond
Purchase Agreement and this Resolution in the aggregate principal
amount of $450,000 they shall represent the approved form of the
Bond Issuer. The President of the Issuer is hereby author zed
and directed to cause the Bond to be prepared in the form now
before this meeting and hereby approved subject to appropriate
insertion and revisions to order to comply with the provisions of
the Bond Purchase Agreemin , as executed. The Bond shall �,e
executed in the same *t9re c" the ISOL-Sr wi}h. t!13 m9r'J81 c^
fascimile signat+.cq 3f ite 2f A*s Fr3+3ident ens Wiell be att?r,:ve
with the manual or `Ascimi-'s vlon tf 4ra sr jts Secretary, pry t 'ed
that at least one if such si3na`,-1res shall !�e a ar.an;!al siyr.ptl�e,
and the seal of the Iselver or a fascimiils thereof shPA be
imprinted or imare)ssed an the Bond. The 'President or the
Secretary of t`,e !OA:fel ig hereJy authorized and directed tv
deliver the Borg! to the Spite. as Pvrchaser thereof. for er! ;.n
behalf of, ani as the act and dyed of, }hs Ise-jer in the mr-^s:°
provided in the Bunt+ F%,Eshass Agreementl as executed. T'te
President of the Ass.AeK Is hereby authorized and directee to
execute and dasiyer tie Aotgeteent, the Assignment and the P -,,d
Purchase Agreement for and on be5alf of, and as the act and O:sd
of, the Issuer. The Secretery of the Issuer is hereby authorized
and directed to attest, and affix the seal of the Issuer to, the
Agreement, the Assignment and the Bund Purchase Agreement and,