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(;1 The capltatitatipn of the Surrty/1Nlfprnnration shalt D! tntrlased ~
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in an arou~t which shall equal the amount of thr issue+t and outstandino ~ i
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shams .,f the ccr++on ant nrlferred stock of the "~Mpd Cnrnoratlons". i
The terns and provisions eovprninq the rights. restrirtinns. ~uallflcations
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and other r+at:ers n1 the said cap.aon stork and nrpferred stock shall
tin that ~o+`Lained in the present charier of grant's as .~r+rndpd. .
;rrruiatply ~oll+k•~nn LM r..t-,~„r, r~rant's. tM• Surviving and
font~n;iro corpc+ratinn, .+i l) have iss~~ed and outs!aediro 3M shares of
rorocn sioc?. ran value S1:1C rer share and 1'S^ s'~r?rs of preferred sto:.• ;
- par valu^ S1M per sharp.
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I; Via` Ireadiately thereafter. the r,a~•'~` of !hc Surviviro Corpnratinr
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shall he :hanged to °axhell.i+cs^e Curnishi^os, loc. The princir+al place
of business of the Survirir~ Cnrporatio^ shall rc~+ain ?1^ South L~i•ie i
Niohwav, best nalr• Ceach, Florida 33a•'!1, "
;5) Each ~f !leroed 'orTOratinns Shall transfer, tonvey. and assio* ~ +
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' *.o frant'S alt of i!s assets and prot~erties of :,hats ever nature and ~ rent's
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~ shalt assure all the liabilities and oblioa'inns of ++hatsnover naturo _
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of each of the "prged Corc~orat;ons.
(E' P fair and careful analysis has to?n radc ;f the relative value
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'of the bu5lntsS ano properties pf all parties hereto. Pftpr to?in~ into +
consideration all relevant facts anA circuc~st~nces. it is agreed the +
' transfer of all of the assets ~f each of the •'erged Cnrnorat~ons subject
to all of their liab111ties and obligations. ~+hich liabilities and obligations
Grant's shall assume in exchange and complete conversion of alt the
•apitai stock pf path of the "er9ed Corf+orations.Hi;l De fair to the
stockholder of each corporation and rill represent the true appraisal. .
- of the relative value of each of the constitua+t corporations.
(7) Grant's shall issue to the sole shareholder of each of the
Nerved Corporations. at par value, the same nu+t~pr and class of iss~r_d ~ +
and outstanding shales of Grant's as the sole shareholder held in each + .
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. Nerved Corporation trwediately before tin. ¦erwr as tteeind in Schedule
1I, which shar+s shalt bt fully paid and non-assessable.
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(8) The channe 1n the Articles of Incorporation of grant's to ~ ,
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be ettectad by this verger shall be as follows:
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