Repository: UIHistories Project: Board of Trustees Minutes - 1980 [PAGE 142]

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132

BOARD or TRUSTEES

[November 17

account or accounts and to make the initial deposit therein and from time to time to make other and additional deposits and to sign orders and issue instructions to said Bank for the conduct of said account or accounts, and T o withdraw, receive, and receipt for and to withdraw upon trust receipt on the responsibility of, and at the risk of this corporation, and to sign orders and issue instructions for the handling, transfer, registration, sale, substitution, exchange, and delivery of any bonds, stocks, securities, and other property and the proceeds thereof, delivered to, deposited with, or otherwise held by said Bank for the account of this corporation. Such withdrawals, substitutions, exchanges, and deliveries whether subject to payment or not and whether pursuant to sale, exchange, or other transaction, may also be made by the bearer of any order, receipt, or request so signed, and T o purchase bonds, stocks, securities, and other property and to sign orders and issue instructions in connection with the purchase, the payment, the registration, and the delivery thereof, and T o sell, pledge, transfer, assign, exchange, deposit with any reorganization committee, bondholders protective, or other similar committee, or otherwise dispose of any bonds, stocks, securities, and other property belonging to or standing in the name of this corporation or its nominee or held by this corporation for the account of others, and to sign orders and issue instructions regarding the handling of any matters connected with such transactions, and T o identify and guarantee assignments, transfers, and endorsements for transfer on bonds, stock certificates, interim, participation, and other certificates and to identify and guarantee signatures on bond and stock powers of attorney. And Be It Further Resolved, T h a t this corporation agrees to examine statements of account and both sides of accompanying items and to notify Bank of any unauthorized or missing signature or alteration of any item, or any error in the statement, within thirty days from the date it is available for examination or the date it is mailed and agrees to notify the Bank of any unauthorized or missing or forged endorsement within six months from the date it is available for examination or the date it is mailed; failure to so notify the Bank as provided above shall preclude this corporation from asserting against the Bank any such unauthorized or missing signature or endorsement, alteration, error, or forgery. And Be It Further Resolved, T h a t each of the aforementioned officers, or persons authorized to act for this corporation in any case aforesaid, shall be and hereby is further authorized, without the concurrence of any other officer or person: T o waive presentment, demand, protest, and notice of dishonor or protest and to give instructions in regard to the handling or delivery of any negotiable or nonnegotiable papers or documents involved in any transactions for or on behalf of this corporation, and T o sign reconcilements and certify to the correctness of statements of account and approve and authorize adjustments therein, and T o act for this corporation in the transaction of all other business for its account and to sign orders and issue instructions to Continental Illinois National Bank and Trust Company of Chicago in connection therewith. And Be It Further Resolved, T h a t the secretary of this corporation be and hereby is authorized to certify to said Continental Illinois National Bank and Trust Company of Chicago, a copy of this resolution, and the names and signatures of this corporation's officers or employees hereby authorized to act in the premises, and said Bank is hereby authorized to rely upon such certificate until formally advised by a like certificate of any change therein, and is authorized to rely on any auch additional certificates provided that any additional certificates shall not be effective with respect to any check or other instrument for the payment of money dated on or prior to the date of such additional certificate but presented for payment after receipt thereof by the Bank.