CORPORATE RESOLUTION (Mortgage)
State of New York Title No._______________
County of ________
The undersigned, the secretary of ____________________________________, a ____________ Corporation,
DOES HEREBY CERTIFY:
1. At a meeting of the Board of Directors of the above mentioned Corporation, duly called and held this day at which a quorum was present and acted throughout, the board of directors unanimously adopted the following resolution, which has not been modified or rescinded:
RESOLVED, that the Corporation execute and deliver to
Or to any other person or corporation a mortgage covering the property owned by said corporation located at
Such mortgage to be for the sum of $__________________ to secure payment of a note of the corporation, bearing even date therewith, conditioned for the payment of said sum, with interest thereon, that said not and mortgage be in such form and contain such interest rate or rates, time of payment, including installment payments, and such other terms, provisions, conditions, stipulations and agreements as the officer of the corporation executing the same may deem proper and advisable; and that the president or vice president or any other officer of the corporation be and each of them hereby is authorized to execute and deliver such note and mortgage and such other instruments as such officer may deem proper and advisable and to affix the seal of the corporation thereto.
2. Neither the Certificate of Incorporation nor the By-Laws contain any special requirement as to the number of directors’ required to pass such resolution.
3. The Certificate of Incorporation of the corporation does not require any vote or consent of shareholders to authorize the making of such mortgage.
4. This certificate is made and delivered in order to induce ______________________, as policy issuing agent for Stewart Title Insurance Company to issue a policy of title insurance, insuring to such lender the validity and priority of such mortgage.
IN WITNESS WHEREOF, the undersigned has hereto affixed his/her hand and seal of the above mentioned corporation this _________ day of _____________, 20____.
State of New York )
County of ____________ )
On the __________ day of ____________________ in the year ____________ before me, the undersigned, personally appeared _______________________, personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledge to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument.
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