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Whereas, at a meeting of the board of directors of the __________(1)____________ Corporation (hereinafter sometimes referred to as the "Corporation"), it was resolved that the

Corporation accept the offer of _________(2)________ attached hereto, and issue __(3)__ percent of the authorized capital stock of the Corporation, fully paid and nonassessable; and

Whereas, _________(4)___________, as the sole owner of the real estate situated in the City of ________(5)__________, County of ___________(6)____________, State of ______(7)________, has offered to sell to the Corporation the real estate, as more fully described in the offer attached hereto, in return for __(8)___ percent of the authorized stock of this corporation; and

Whereas, the real estate is valuable for the use and lawful purposes of the Corporation;

Now, therefore, be it resolved that the offer made by _______(9)_______ to the Corporation is accepted. Resolved further that the secretary of the Corporation shall

promptly deliver to the offeror, a certified copy of the minutes of this meeting.

Resolved further that the president of the Corporation execute and deliver to the offeror, _(10)_ certificates of stock for _(11)_ shares of the Corporation, which shares shall constitute __(12)__ percent of the authorized capital stock of the Corporation fully paid and nonassessable, on receipt from the offeror, of a warranty deed transferring the real estate to the Corporation.

Resolved further, that all prorations and adjustments for items including, but not limited to, taxes, interest, insurance and rents, shall be made as of the date of the transfer according to

the local custom in the real estate industry.

By the Board of Directors, this Resolution is adopted this ______(13)______.

____________(14)______________

Chairman, Board of Directors

The information in this document is designed to provide an outline that you can follow when formulating business or personal plans. Due to the variances of many local, city, county and state laws, we recommend that you seek professional legal counseling before entering into any contract or agreement.