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CERTIFICATE
"The P: esident reported to the meeting that pursuant to authorization pre- .
viously granted, he had negotiated an additional $25, 000 loan from First Federal
Savings and I.oan Association of Fort Pierce and that a promissory note and mort-
gage had been executed by hun and the secretary on behalf of the corporation and
delivered to First Federal. He stated that the mortgage has been recorded in O.
R. Book 171, page 1671, public records of St. Lucie County, Florida. The Presi-
dent reported further that he had negotiated a consolidation of the new loan with the
pre-existing loans, to-wit: Loan No. 9291, note~' dated April 12, 1961, original ~
principal $98, 500, recorded in O. R. Book 9, page 651; and Loan No. 10042, note
dated March 2, 1962, original principal, $16, 000, recorded in O. R. Book 31,
page 422. He reported further that the principal balance of all three loans, that
is the amount of the consolidated loan, as of May 1, 1968, is $100, 341.10. The
consolidation agreement provides for an interest rate of 7% per annum and fixes
a term of 15 years for repayment of the consolidated debt.
_ On motion duly made, seconded and unanimously carried, it was resolved
that the acts of the President and Secretary in borrowing the additional sum of
$25, 000 and in consolidating the abo~Te mentioned loans on the terms stated, be
ratified, affirmed and approved, and it was further resolved that the President
and Secretary be authorized to execute and deliver on behalf of the corporation
the consolidation agreement according to the terms stated herein."
The undersigned Secretary of Causeway Trailer Court, Inc., certifies that
the foregoing is a true and correct copy of a portion of the minutes of a duly con-
stituted special meeting of directors of said corporation held on May 1, 1968, at
which meeting there were present M. A. Ramsey, Mary Lee Ramsey, Richard
Arnold and Dorothy L. K. Arnold.
••DA•T ,F.rD ~May 1, 1968.
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~ STATE~OF FLORIDA COUNTY OF ST. LUCIE
~ I HEREBY CERTIFY that on this day, before me, an officer duly authorized
g in the State aforesaid and in the County aforesaid to take acknowledgments, per-
sonally appeared MARY LEE RAMSEY, well known to me to be the Secretary of
the corporation named in the foregoing instrument and she acknowledged executing
the same freely and voluntarily under authority duly vested in her by said corporation
and that the seal affixed hereto is the true corporate seal of said corporation.
~WITNESS my hand and official seal in the County and State last aforesaid this
~ day of May, A. D. 196$.
~ FILEO AND RECORDED ~
~ ST. LUCIE COUDlTY, FLA.
~ ~n:;~. ~r: Notary Public, State of Florida at Large
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