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<br />ARTICLE VII <br />RECEIPT OF MINIMUbS CAPI^1AL <br />The Corporation will not commerce business until <br />consideration of the value of at least $1,000.00 has been <br />received for the issuance of shares. <br />ARTICLE VIII <br />RIGHTS <br />1. The holders of record shall have no preemptive <br />rights. <br />2. The Corporation shall have a right of first <br />refusal to purchase the shares of stock of any shareholder <br />for a price and upon terms equal to any offer acceptable to <br />such shareholder. Any shareholder desiring to sell shall <br />give notice of the price and terms of said acceptable offer <br />to each and every one of the directors of the Corporation and <br />the Corporation shall have a period of thirty (30) days after <br />receipt of such notice by a majority of the directors to <br />exercise its right of first refusal. In the event the <br />Corporation shall fail to exercise its right of first refusal, <br />the shareholder desiring to sell may accept the offer and <br />sell without change or modification. There shall be endorsed <br />upon each certificate of stock of the Corporation language <br />indicating the right of first refusal in the Corporation. <br />ARTICLE IX <br />PROVISIONS FOR REGULATION OF TnE <br />INTERNAL AFFAIRS OF THE CORPORATION <br />1. Code of By-Laws. The initial By-Laws of <br />the Corporation shall be adopted by its 3oard of Directors. <br />The power to alter, amend, or repeal the By-Laws, or to adopt <br />a new set of By-Laws, shall be reserved to the Directors of <br />the Corporation. The By-Laws may contain any provisions for <br />the regulation and management of the affairs of the Corporation <br />-3- <br />