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 _______________________________.

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Secretary