is ninety-nine years.
                    Article V
     The business of this corporation shall be conduct-
ed by a president, a vice president, a secretary, a
treasurer and a board of three directors.  the office
of secretary and treasurer may be held by the same per-
son.  The board of directors shall be elected by the stock
holders at the meeting to be held on the first Monday in 
July  1905 and annually thereafter.  The board of di-
rectors shall elect the officers of the company, the president
and vice president shall be elected from among the board
of directors.  Until the first election and until their suc-
cessors shall be qualified the following officers and di-
rectors shall conduct the business of the company:  W.
R. Thomas, President; C.W. Chase, Vice President; E.E.
Voyle, Secretary and Treasurer, and W.R. Thomas, C.W.
Chase, and E.E. Voyle, shall constitute the first Board
of Directors.
                    Article VI.
     The highest indebtedness or liability to which this
corporation can at any time subject itself is Fifty
Thousand Dollars.
                    Article VII
     The names and residences of the incorporators of
said corporation, and the subscribers of stock thereof, with
the numbers of shares subscribed for by each, are as fol-
lows:
          W.R. Thomas,     Gainesville Fla.     120 shares
          C.W. Chase       Gainesville Fla.     120 shares
          E.E. Voyle,      Gainesville Fla.      10 shares

State of Florida     }
     Alachua County  }
                       Personally this day before me a
notary public in and for said county and State, appeared
W.R. Thomas, C.W. Chase and E.E. Voyle, to me well known
and known to me to be the persons who subscribed the
foregoing, and severally acknowledged before me that 
they subscribed the same.
     In Witness whereof I have hereunto set my hand
and affixed my official seal this 15th day of May
A.D.  1905 in said Alachua County.
                    I.E. Webster
          (seal)         Notary Public
                    State of Florida at Large
                    Commission expires Fib. 11, 1909

State of Florida                }ss.
     Office Secretary State     }
                                 I, H. Clay Crawford, Secretary of
State of the State of Florida, do hereby certify that
the foregoing is a true and correct copy of the