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3[CTION25. lODIitCAII0N 4Y RESOLi7fI0N. Noadwra+aatariaindiffcatlon
<br />or Ment of this A—luti.n, or of any vaul-taft -mandatory Woof Or
<br />supplemental Kanto. sk b uda wlthout Cha -Mont in erlting of the R+R4nred
<br />preen .f Sia or mere in ameneate prtmtpai +allot of the BOOM than ontatanutng
<br />farted by such adoar.o -.,Jet medlfttatlnn or maondeonc; provtd+d, h—,
<br />that On madiflcaelon o[ aseardsoo.1 "Wit p -nit change In the .atmtq of any
<br />Mode or s raduotton to the rate of tnnYaas thmon or in
<br />the amour of the
<br />Prinlpal obligation thereof, or offmc the u n itiensi yWest.. a! th Conety
<br />to 1•p, Lowe and/e[ <ollaat the R-- or ether —.ipta aM re
<br />.l.Z. hereon" it any, se henln prevlded, or to pay the printlpai ofand
<br />interest
<br />on the Londe u the +oma +bell bar— dM, frog the Pl.dgad nmds or
<br />redoo. the p+....We r+gi,lnd seen for an advana material madlfired.. or
<br />_'or*
<br />without the ransom It the Reglatered Omar+ of all of the ROM-
<br />aft—v ihenby. 7W f+ngoine ahati net
<br />agpiy vtth r+apart n aoppilmen .1
<br />+ lug tote adopted far ebe sols Purpa.a of loaning Addltlorel Parity Mod+ o
<br />lunger and aobardinsa obligations asked bmunder in atcord+or. Wealth or any
<br />resolution eatheriaing the l.—. of the Senior Lt.. MMs.
<br />Mnitheranding Cha era"ssapt "a rnpart to any sedlflesxlon Por
<br />wodsent
<br />regutrina the consent .1'the "a *,Part
<br />0wnsra of .11 of the Mnda
<br />sffactad thereby, to the mann. that my MMa era l,uured by A policy of
<br />wmSri .l bood Iruu[.eae eM auth MMs ua then+ted In no of the no high -
<br />retire eataga.1a. (aithant r+prd to gradation) by either Standard a Poor'+
<br />Cotleratlan o Moody'- Ione torr Smite, Im., or the suet+ Poor of tither of
<br />.hall then tc ant of the laser of Pouch sunlelpol be" toaur —poi ley
<br />.hall
<br />be ba--ti—.ed to --ti—. the emeant of the R.,L.—ad reran of such Cl
<br />9rarid+d, t ver, a copy of aurh soatfitacia o[ •a+.dunt shell be provid.d co
<br />td
<br />Rlereaf. ra.ing romans net len than thirty (30) days prior to the +((arrive data
<br />BCCTION Td. SEneAtILITY. 1! an nn" or once o[ Lh cawnsnta, a,, w-ta
<br />o Pravlal+ns et thf. Rsaalotion .hmld ba bald contrary to any +rpnn P—t—n
<br />of law or
<br />eoncrely to the polity or aePrna Cas, though not erpnariy prahlhtted.
<br />Apt. public polity, +bell for Any re n vhat....or be hald (mend,
<br />.her anch tOlon+ts• l9ra+lhls or P relater •hell be null "ted vola and shell
<br />be doeMd ng runt+, agreemanta aM yrevisI—
<br />heteOf. act
<br />-hall 1. m v -y affect the v+lidity thereof or of the BOM+ leaned
<br />be,: -.1.
<br />Staltal 27. REPRAtER. All noelutions or parte of neoiuctons in .....Act
<br />slth this Re-lutlon at any Pere halo! 1-, to Cha axone o[ rush con[lfe t,
<br />hereby re".1.6,
<br />BMION n. LFFf4TIVg fere. Tht. Mrelutlon .hall take *[fact xmedlaraly
<br />Cpm Sn "eeption.
<br />P79Ml"2D I11—nig" GOIIDLILKS
<br />(1) direct obtirf ationm of the United state. or America
<br />end--rltja. fully and Urconi tionally quarintoed
<br />thatunit•dtgtatiepoiRAtnutric•orinafpei and interact by
<br />("Dtr•at Obligation.")!
<br />abllgatlot ad fu12yy guaranteed Cartiticat•s
<br />tt bsneficiai t"; Sen of tba azport-Import Bank o!
<br />the onitd atatu7 unlor debt ebligatien• of the
<br />=Aru Mesa Igen Mnkrt aab"ntur�e of the ►darai
<br />bMo . g. attatien, 9Yazanbd maztgaga-sh.oked
<br />+evrns"nt Mit onl Mei•--through obligation a[ the
<br />Title XI financing at thga0,jCOrta�ritthnet quarantted
<br />Adsiniatr•tian, mortgage_b"red geurltio end senior
<br />dash" Lange, .,u Ot thhe Padaral National Mortgage
<br />Akilorash"Lebb •ma partleSpatlan National
<br />and
<br />min terydtbtcypobliyPotion o[ •glia l.4...I Moble loan
<br />Oas yMe.ns+yrratian (cellaotively, ellyPnpy
<br />(3) direct ebllgatien et any tet- 01 the United stab.
<br />direct or .nyy "uLalv!•!on at i00eacy thersof vhoae
<br />atba rrad 4ansrsi o_aitgatian QebL 2# rated "Al" or
<br />I`*
<br />to Oabody.i4 `veators 6rvia" os
<br />Obiigatian toiley and ot�)eonditipr�i.ilt ° + er any
<br />any stat•, aabetvlafon Por • • y quaranbad by
<br />gatural eblSq#tien debt ion ratnr•d •Af'�'�or battardby
<br />Mood. Yts Imuran
<br />Serviceand •A -v er batter by
<br />a i Poore Carport Oi�117
<br />(e) a+am•raiai papas rated "prime -s" by Mody,a xnveetoza
<br />so IVW e�nndd A-3• or better by atsda14 a Poor'.
<br />CoePoratfon7
<br />(aI eb11 Potion. rated "AP or tatter by Mody'• 3nvgkorm
<br />aarv% a �nd "A-" or bettor by abnd.rd a PeoY'.
<br />GarporatTant
<br />(q d=6t11!st Pd"rLL funds or be.... accepter_... o[ any
<br />bank which ab inch ottfei 1.Inattda Fourth finath. United Sqn
<br />a"tn, ppzovldd ions opinlaru era related tpoothe
<br />azt�imilastoblige
<br />tion tis infozeiabl� aq�ipetdip>ait
<br />PrinclPA1 Office or any branch of such bink, vhleh,
<br />a. ala #n unaecur"d, oninaord and unguaranteed
<br />abiigatlon ntd "pzls#-3" or "AI" or batter b
<br />Moody* Investor• prvlaa ,,re�qq aA-1" gr wA-a try
<br />batter by standard a paoris Orparation, or
<br />The [oceeu/n6 —.11tlon ver- offered by Comtaalonsr Mo
<br />ked for its adoption. The action -a + ortded by C. -'I'
<br />er
<br />end, Upon bef.A put to a von, eh+ rota vee as foitnsa:
<br />Chat run aiohard N. Bird
<br />Vita Chairman Jahn W. Ttpptn
<br />Comle-tonsr Fran a. Adm•
<br />ComteslonsY Carolyn X. fg.art
<br />Comtartoner rennsth B. Mach.
<br />the Chat— thnupon Met +na the Rnolutlan duly Foaled and adopted all
<br />day of . 1993.
<br />SCARS Or COUNTY Commis"O."9
<br />Or INDIAN RIVER COIMFY, FLORIDA
<br />(SFAL)
<br />Richard N. gird, Chelram
<br />1-tfray R. Bann, t.,k
<br />APPROVED AS TO FOAM AND
<br />WAL SUFFICIENCY
<br />Charles P. Vltunsc
<br />County A--,
<br />a. i• to Lead bank of a parent bank holding
<br />11 -1001Y an unlnurdunaaod and
<br />unguaranteed obligation m, un
<br />ating e retina
<br />raquSreaent. in {a.} above,
<br />(T) deposits of any bank or .awing• and loan mmocletion
<br />which has Comb nod Ca itai, SUZILUa and undivided
<br />profits at not less then $3 million, provided Such
<br />deposits era fully inured by the Pederu Deposit
<br />Ineuranee corporation or ►#doral Savings and Loan
<br />Insurance corporation,
<br />(a) lneNOtmants In a many -market fund rated "Am" or
<br />"Am -G" or batter by at.. old A Poor'* Corporation,
<br />(9) r•purchesa agra•m•nt. with a term of on• year or
<br />lean with any Ih-titut)an with debt rated "AA+ or
<br />eomnarciel paper rated A-1" (In Oath Came by
<br />standard a Poor'. Corporation),
<br />(10) purchase agreements collateralized by Direct
<br />Obligation or Agency obligation. with any
<br />Zn4estoraa proteaat lionlCorporatio jurledltCion ora
<br />any Cpamat *1 bank, if eUph broker/dealer r tank
<br />here en unln•und, unascurad and on us,
<br />obligation ratedde-i" pr "Al" or batter by
<br />Xoody's Inveatora sorilce, and A-1" or "A-" r
<br />better by standard a Foot's corporation, prpvideds
<br />(A) a vaster rspurth... egr.... nt or specific
<br />wrltt.n,r•purchas. agr.... nt governs the
<br />transaction; and
<br />(a) the securities are bud ire. end clear at any
<br />It-- by the Tete. or an I. 'd
<br />third
<br />party acting iel2y as .rat fps the Truetu,
<br />san
<br />much third VV ty !. (a) a FWar.1 _ago.t..,
<br />ank, (b) a bankavhieh is a mesb.r o! tea
<br />Yed.ral Deposit In,,,._: Cprppratlpn end
<br />which h.a 0osbind pipltu, on,,lua anQ
<br />undivldad profits of teat lass ttian Ela
<br />mii3ton, Cr Loy •bank approved in writlnq for
<br />much purpou by ►inMola Ou.Yanty Insurance
<br />C -PIT am the TrYebe #Aril hsY. r.p•SY•d
<br />sitter Confirmation from such third partyear
<br />o[ anYtl1 N - 19ant Canthi Tru 0ao,dand
<br />(C) a ppetrfected first Security lntereat under the
<br />Uniton Camme..I I Cde, or book Sntry
<br />procd—: P—cribad at li C.P.B. lOa.i et
<br />e.g. or of C,►.R. 030,0 at e.g, to aucA
<br />At 4: le erected !or the benefit or the
<br />Tru#b#I and
<br />Lrhibit A ahiblt A
<br />[ate i of 3 oto 1 of )
<br />
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