<HTML><BODY style="word-wrap: break-word; -khtml-nbsp-mode: space; -khtml-line-break: after-white-space; "><BR><DIV><DIV>On May 8, 2007, at 12:27 PM, Drummond Reed wrote:</DIV><BR class="Apple-interchange-newline"><BLOCKQUOTE type="cite"> <DIV class="Section1"><P class="MsoNormal"><FONT size="2" color="navy" face="Arial"><SPAN style="font-size: 10.0pt;font-family:Arial;color:navy">Bill, my only comment is that section 4 current reads as follows:<O:P></O:P></SPAN></FONT></P><P class="MsoNormal"><FONT size="2" color="navy" face="Arial"><SPAN style="font-size: 10.0pt;font-family:Arial;color:navy"><O:P> </O:P></SPAN></FONT></P><P class="body" style="margin-left:0in;text-indent:0in;mso-list:none"><FONT size="3" face="Times New Roman"><SPAN style="font-size:12.0pt">RESOLVED, that the officers of the Corporation are hereby authorized to apply on behalf of the Corporation for tax exemption under Section 501(c)(3) of the Internal Revenue Code, and for all other applicable federal, state, regional and local tax exemptions and benefits.<O:P></O:P></SPAN></FONT></P><P class="MsoNormal"><FONT size="2" color="navy" face="Arial"><SPAN style="font-size: 10.0pt;font-family:Arial;color:navy">I thought that we had agreed that we were not pursuing 501c3 status. I can understand leaving this provision in in case we MIGHT want to do so in the future, but would seem better to rephrase it as:<O:P></O:P></SPAN></FONT></P><P class="MsoNormal"><FONT size="2" color="navy" face="Arial"><SPAN style="font-size: 10.0pt;font-family:Arial;color:navy"><O:P> </O:P></SPAN></FONT></P></DIV></BLOCKQUOTE><DIV>My understanding was that we were pursuing 501c3 status.</DIV><DIV><BR class="khtml-block-placeholder"></DIV><DIV>Artur</DIV><DIV><BR class="khtml-block-placeholder"></DIV><BR></DIV></BODY></HTML>