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G <br />capital etock of the oompany shall te eub�ect to the payment oi <br />euch pro rate, aesessments ae may be eo levied, end the company <br />ehall hava a firet and prior lien upon each ehare of euoh etock <br />for such pro rata aseeesment until the eame, together with all <br />interest and other chargee connected therewith ehall have been <br />paid in full. In the event any annual meeting of the e�ock- <br />holdere ehall fail to levy euch aseesement by the firet day of <br />March in any yesr tho Bor�rd of Directore ehall have fuli oower <br />and authority to meko euoh aesesement at nny reQUlar or epecial <br />meeting of enid board, oalled for that purpose, and eny levy so <br />make by the Board of Directore shnll be ae eff ective for all <br />purpoees ae thou�h made by the etockholdere, r+nd ehRll be eub- <br />�ect to all of the provieions of these by-lnwe relating to <br />essessmente made by the etockholdere. <br />8eotion ?--Payment of 6 asesements--All aeeessmente upon <br />the capital etock oi the cor,�pany, levied in a000rdance with the <br />provisione of 8ection 1 of this artiole, ehe.11 be due end payable <br />as en entirety or in inetallmente at euch time or timea and in <br />suoh emounts ae ehall be fiaed and determined by the etockholders <br />at their annuel meeting or by the directore, in the event no euch <br />levy ie made by the stockholders. <br />Bection 3--Notice of Aesesement--Plithin thirty days <br />after the ennual mecting of the stockholders or meoting of the <br />Board of Directore at whioh any assesement provided in 8eotion 1 <br />of thie Article ie levied, the secretary ehall mail a notioa <br />thereof to e�.ch etockholder e.t his last known poet offioe <br />addreee, atating the amount of euch levy end th6 date or de,t80 <br />upon which the eame eh�ll become dua, either ae entirety or in <br />inetalltAente� The secretary shall r�ail e, notice to each stook- <br />holder at hie laet knoR� po�t office address not leee then <br />-10- <br />