◆ SpookStack

d : No dividends shell be paid on common stock until all preferred stock issued shall have been retired by the corporation. i B. Voting rights shall be vested in the common stock only. C. The preferred stock may be-retired at the option of the Board of Directors et any time, provided, it must be retired within two years after ite issuance upon paynent of its par value. D. Voting rights shall accrue to holders of preferred stock on the following conditions; 1. If the preferred stock is not retired within two years, it shall be entitled to vote until it ia retired. 2. In the event of default of the corporation on any loan or obligation of the corporation, holders of the preferred stock, for the benefit of the corporation, may meke advances of money to cure the defaults and voting rights shell then accrue and continue until such advances are repaid with interest at the rate of 7%. ARTICLE Vy Directors of the corporation shall be; WILLIAM R. WILKERSON 10425 Sunset Blvd., Los Angeles, Cal. MOE SEDWAY Bonanza Road, Las Vegas, Nevada. BEN SIEGEL Last Frontier Hotel, Las Vegas, Nevade. G. HARRY ROTHBERG Last Frontier Hotel, Las Vegas, Nevada. N. JOSEPH ROSS 5047 Motor Ave., Los Angeles 4, Cal. ne SETICIZ Vin The stockholders may agree to restrict and linit the sale or transfer of stock in the corporation. The shares of stock shall seo reflect. . ARTICLE Vil, Whenever the amount of ths subscription price or the par value of the stock has been paid in, the stock not be subject to assessrent The incorporators of the corporation aball bes (Seme_as the Directors set forth under Article V.). —SS=— ——EE—=—— SS SSS SS SS SSS Se Oe at 4 re \ . -