Resolution to Borrow Capital

WHEREAS, the Corporation is in need of additional capital, and WHEREAS, , as of the Corporation, has agreed to loan to the Corporation the sum of , () and WHEREAS, such borrowing appears to be advantageous to the Corporation as it is on better terms than would be available elsewhere; be it:

RESOLVED, that the Corporation borrow the sum of from , and that said sum be repaid in or within years with interest thereon at % on the unpaid balance, all as more fully set forth in a promissory note and collateral loan documents as have been presented to and reviewed by this Board.

The undersigned hereby certifies that he/she is the duly elected and qualified Secretary and the custodian of the books and records and seal of ,a corporation duly formed pursuant to the laws of the state of and that the foregoing is a true record of a resolution duly adopted at a meeting of the and that said meeting was held in accordance with state law and the Bylaws of the above-named Corporation on ,and that said resolution is now in full force and effect without modification or rescission.

IN WITNESS WHEREOF, I have executed my name as Secretary and have hereunto affixed the corporate seal of the above-named Corporation this , of .

Secretary