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<br />June 19, 2006 - Regular Meeting
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<br />Page
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<br />659
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<br /> promissory notes or other evidences of
<br /> indebtedness
<br /> (5) Endorse, assign, transfer, mortgage or
<br /> pledge bills receivable, warehouse receipts,
<br /> bills of lading, stocks, bonds I real estate or
<br /> other property now owned or hereafter owned or
<br />A acquired by the Corporation as security for
<br /> borrowed! and discount the 1
<br /> sums to same,
<br /> unconditionally guarantee payment of all bills
<br /> received, negotiated or discounted and to waive
<br /> demand, presentment, protest, notice of protest
<br /> and notice of non-payment.
<br /> (6) Enter into a written lease for the purpose
<br />A of renting, maintaining, accessing and
<br /> 1
<br /> terminating a Safe Deposit Box in this
<br /> Financial Institution.
<br /> (7) Other:
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<br />LIMITATIONS ON POWERS: The following are the Corporation's
<br />limitations on the powers granted under this resolution.
<br />
<br />express
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<br />EFFECT ON PREVIOUS RESOLUTIONS: This resolution supersedes resolution dated
<br />prior to 12/31/2005. If not completed, all resolutions remain in effect.
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<br />CERTIFICATION OF AUTHORITY:
<br />I further certify that the Board of Directors of the Corporation has, and at
<br />the time of adoption of this resolution had, full power and lawful authority
<br />to adopt the resolutions on page 2 and to confer the powers granted above to
<br />the persons named who have full power and lawful authority to exercise the
<br />same (Apply seal below where appropriate.)
<br />
<br />___ If checked, the Corporation is a non-profit corporation.
<br />
<br />In Witness Whereof, I have subscribed my name to this document and affixed
<br />the seal of the Corporation on June 19, 2006.
<br />
<br />Kay Honeycutt
<br />/s/ Kay Honeycutt
<br />Attest by One Other Officer
<br />
<br />Frankie F. Bonds
<br />/s/ Frankie F. Bonds
<br />Secretary/Clerk to the Board
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<br />RESOLUTIONS
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<br />The Corporation named on this resolution resolves that,
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<br />(1) The Financial Institution is designated as a depository for the funds of
<br />the Corporation and to provide other financial accommodations indicated
<br />in this resolution.
<br />(2) This resolution shall continue to have effect until express written
<br />notice of its rescission or modification has been received and recorded
<br />by the Financial Institution. Any and all prior resolutions adopted by
<br />the Board of Directors of the Corporation and certified to the Financial
<br />Institution as governing the operation of this corporation's account(s),
<br />are in full force and effect, until the Financial Institution receives
<br />and acknowledges an express written notice of its revocation,
<br />modification or replacement. Any revocation, modification or replacement
<br />of a resolution must be accompanied by documentation, satisfactory to the
<br />Financial Institution, establishing the authority for the changes.
<br />(3) The signature of an Agent on this resolution is conclusive evidence of
<br />their authority to act on behalf of the Corporation. Any Agent, so long
<br />as they act in a representative capacity as an Agent of the Corporation,
<br />is authorized to make any and all other contracts, agreements,
<br />stipulations and orders which they may deem advisable for the effective
<br />exercise of the powers indicated on page one, from time to time with the
<br />Financial Institution, subject to any restrictions on this resolution or
<br />otherwise agreed to in writing.
<br />(4) All transactions, if any, with respect to any deposits, withdrawals,
<br />rediscounts and borrowings by or on behalf of the Corporation with the
<br />Financial Institution prior to the adoption of this resolution are hereby
<br />ratified, approved and confirmed.
<br />(5) The Corporation agrees to the terms and conditions of any account
<br />agreement, properly opened by any Agent of the Corporation. The
<br />Corporation authorizes the Financial Institution, at any time, to charge
<br />the Corporation for all checks, drafts, or other orders, for the payment
<br />of money, that are drawn on the Financial Institution, so long as they
<br />contain the required number of signatures for this purpose.
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