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3. Further Resolved, that the Bank be and is hereby requested, authorized
<br /> and directed to honor and to treat as authorized, checks, drafts or
<br /> other orders for the payment of money draw~ or puz~ortedly draw~ in
<br /> this Association's name, including those payable to the individual
<br /> order of any person whose name appears thereon as signer thereof, when
<br /> bearing or purporting to bear the facsimile signature of an Authorized
<br /> Representative authorized in the foregoing resolutions and Bank shall
<br /> be entitled to honor, to treat as authorized, and to charge this
<br /> Association for such checks, drafts, or other orders regardless of by
<br /> whom or by what means the actual or purported facsimile signature
<br /> thereon may have been affixed thereto, if such signature rese~les the
<br /> facsimile specimen duly certified to or filed with the Bank by the
<br /> Secretaz7 or Assistant Secretaz7 or other officer or an Authorized
<br /> Representative of this Association or if such facsimile signature
<br /> resembles any facsimile signature previously affixed to any check,
<br /> draft, or other draw~ in the Association's name, which check, draft, or
<br /> other order was accepted and paid without timely objection by the
<br /> Association, thereby ratifying the use of such facsimile signature, and
<br /> the Association hereby lnden~nifles and holds the Bank harmless against
<br /> any and all lost, cost, damage, or expense suffered or incurred by the
<br /> Bank arising out of or in any way related to the misuse or unlawful or
<br /> unauthorized use by a person of such facsimile signature; and
<br />
<br />4 Further Resolved, that endorsements for deposit may be evidenced by the
<br /> name of the Association being written or stamped on the check or other
<br /> · nstrument deposited, without designation of the party making the
<br /> endorsement, and Bank is authorized to supply an endorsement on any
<br /> instrument tendered for deposit or collection; and
<br />
<br />5 Further Resolved, that the Clerk to the Board or other duly authorized
<br /> officer of this Association shall certify to the Bank names and
<br /> signatures of persons authorized to act on behalf of this Association
<br /> under the foregoing resolutions and shall from time to time hereafter,
<br /> as changes ~n the identity of said Authorized Representatives are made,
<br /> immediately report, furnish and certify such changes to Bank and shall
<br /> submit to Bank a new account signature card reflecting such change ~n
<br /> order to make such changes effective and Bank shall be fully protected
<br /> in relying on such certifications aAd shall be indemnified and saved
<br /> harmless from any claims, demands, expenses, losses or damages
<br /> resulting from, or growing out of, honoring the signature of any
<br /> Authorized Representative so certified, or refusing to honor any
<br /> signature not so certified; and
<br />
<br />6. Further Resolved, that the foregoing resolutions shall remain in full
<br /> force and effect and the authority herein given to all of said persons
<br /> shall remain irrevocable as far as Bank is concerned until three (3)
<br /> business days after Bank is notified in writing of the revocation of
<br /> such authority and that receipt of such notice shall not affect any
<br /> action taken by the Bank prior thereto; and
<br />
<br />7 Further Resolved, that all transactions by any Authorized
<br /> Representative, officer or employee of this Association on its behalf
<br /> and in its name with Bank prior to the dellvez7 to Bank of a certified
<br /> copy of the foregoing resolutions are, in all respects, hereby
<br /> ratified, confirmed, approved and adopted; and
<br />
<br />8. Further Resolved, that the Clerk to the Board be and hereby is,
<br /> authorized and directed to certify these resolutions to Bank and that
<br /> the provisions hereof are in conformity with the Articles of
<br /> Association Charter, Rules and Bylaws of this Association.
<br />
<br />In W~tness Thereof, and intending to bind the Association, I have hereunto
<br />subscribed my name, as the Clerk to the Board of Commissioners, this 17~ day
<br />of May 2004
<br />
<br />/s/ Frankle F. Bonds
<br />Frankie F Bonds, Clerk to the Board
<br />
<br />Approved List of Banks and Brokers for Investment Purposes as authorized by
<br />General Statute 159-31: %TBS Painewebber; Wachovia; Central Carolina Bank,
<br />First Citizens Bank; First Charter Bank; Farmers and Merchants, Southtrust
<br />Bank, Cabarrus Bank and Trust, Bank of America, Morgan Keegan; Vlning Sparks;
<br />C2 Investment Group; Zion Bank; and Legg Mason Capital Markets
<br />
<br /> (F-5} Finance - Budget Amendment (Sales Tax A~dit Fee)
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