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~ NOW THEREFORE, BE IT RESOLVED, thati The Church now issue a series of '
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First Mortgage Bonde to be secured by said Deed of Trust to be known as "Seriea~
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of December 1, 1972", in the amouAt of $200,000.00, at the rate of interest ;
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( of 7X, 7-1/2X, 7-3/4x, 8x, 8-1/4X and 8-1/2X per annum, with bonds maturing
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1 serially from siic (6) months after issue date and aemi-anaually thereafter for ~
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~ a period of 10 years. A maturity schedule is attached hereto as Exhibit B. {
~ BE IT FURTHBR RESOLVED, That The Church from its weekly revenues ~
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s increase the Sinking guad Dep~o~:. the Trustee as shawn in Exhibit A. ~
~ BE IT ~VRTHER RESOLVED, That the President and Secretarq of The Church
be directed to execute on behalf of The Church, the attached agreement with
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Fidelity Plan, Inc., of Eset Point, Georgia, for the issuance of said bonda
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! and the attached agreement with Institutional Finance Corporation to serve as ~
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~ Custadian of said bond issue. ~
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BE IT FURTHER RESOLVID, that said bonds ahall be signed by the ~
President of said Church and attested by the Secretary and ahall be in the samei
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form as the bond appearing in the Deed of Truet heretofore mentioned, with the ~
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ii coupons thereon and the suthentication certificate in the form as appears ~
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in said Ueed of Trust and signed by the persons therein mentioned. ~
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BE IT FURTHER RESOLVED, that this issue shall be sub~ect to all of
the terms and conditions of the Seriea of March 1, 1972 and the Deed of Trust
i ' executed in connection therewith.
BE IT ~R RESOLVED, That The Church by these presenta does convey ~
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; to the Trustee the below described property for the additional securitp of ;
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~ all the bonds issued under the Deed of Trust, and each and every Supplement I
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~ thereto: ~
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~ PAItCEL l: The SE1/4 of the NE1/4 of the NE1/4 Section 33, Township ~
. 35 South, Range 40 East less the North 175 feet of the East 330 feet
~ thereof and also EXCEPTING all rights of way for public roads and
~ drainage canals, St. Lucie County, Florida. _
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~ PARCEL 2: All of Lots 5~ 6 and that part of Lot 4 Lqing South of the ~ -
~ Easterly extension of the North Liae of Lot 6, block H, MARAVILLA ESTATES,j
~ as per plat thereof recorded in Plat Book 8, page 77 of the Public ;
~ Records of St. Lucie County, Florida. ~
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Last mentioned tract ie presently being used by The Church and i
upon construction on the other tract eufficient to houae the physical ;
properties of the Church, the Church reserves the right to sell the i
= tract perscribed being used by it, provided it ahall hold net proceeds i
of said sale as trustees and apply them on improvements of the physical ~
properties of the Church encumbered hereunder. ~
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