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• sive of treasury shares). 1,070,216 shares were cast in
favor of, and 39,670 shares were cast against, the Merger
Plan and the merger contemplated thereby. •
FIFTH: That the Merger Plan and the merger contem-
plated thereby were approved by the holders of at least a
majority of the outstanding shares of beneficial interest
of Summit at a meeting duly called and held on 'May 18, 1979
after~at least 20 days'. notice of the purpose of-the meeting
a t+-.+-e1+..1 .ior F c~,,.,..,i t hoc rlrirPCC c
maileu vv each jaaaiw.v~....~ O. 3t 3.~.-_..~~ d_ 1~
appeared in the records of the trust.
Pursuant to Section 12.4 of Summit's First Amended
Declaration of Trust, as most recently amended, the affirma-
tive vote of the holders. of a majority of the outstanding •
shares of beneficial interest of Summit is required to
authorize the merger of Summit with another trust or corpora-
- tion. On May 18, 1979, Summit had 1,543,133 shares of
beneficial interest issued and outstanding. 901,423 shares
were cast in favor of, and 14,530 shares were cast against,
the Merger-Plan and the merger contemplated thereby.
SIXTH: That as of June 13, 1979, the .shareholders of
IRT Property Company, by unanimous written consent executed
pursuant to Section 22-603(d) of the Georgia Business
Corporation Code, approved the Merger Plan and the merger
contemplated thereby.
SEVENTH: That the effective time and date of the
merger shall be at the close of business on June 20, 1979.
• 3 so<~314 e,~E~013