business above mentioned, and to have, exercise and enjoy all
rights powers and privileges incident to corporations organized
and existing under and by virtue of the laws of the State of Florida.
                    -3-
The capital stock of said corporation shall be $10,000.00 to
be divided in 1000 shares of the par value of $10.00 each.  The
amount of capital stock subscribed for herein, which represents
more than ten per cent of the whole, shall be paid for in cash
and the balance thereof shall remain in the treasury to be dis-
posed of in such manner as the directors may designate.
                    -4-
The term for which said corporation shall exist shall be 50
years.
                    -5-
The business of said corporation shall be conducted by the fol-
lowing officers:  president, vice-president secretary, treasurer, and
a board of ten directors.  The board of directors shall ap-
point such other officers of this corporation having such
powers, duties and terms of office as may be provided by
the by-laws.  The directors and the officers above mentioned
shall be elected by the stockholders at each annual meeting.
The annual meetings of this corporation shall be held on the
first Thursday in January of each year.  The date of the an-
nual meeting may be changed by the by-laws.  Until the officers
elected at the first election shall be qualified, the business
of this corporation shall be conducted by the following
named officers:
     G.H. Gibbons,          President;
     H.C. Sealey            Vice President;
     G.W. Parker            Secretary;
     W.H. Hayes             Treasurer;
And the following named persons as Directors,  G.H. Gib-
bons,  H.C. Sealey,  G.W. Parker,  S.D. Reaves,  W.H. Hayes,
J.B.H. Gay,  W.F. Barry,  E. Sapp, and L.R. Davis
                    -6-
The highest amount of indebtedness or liability to which
this corporation shall at any time subject itself shall be
$5,000.00
                    -7-
The names and residences of the subscribers of the said cor-
poration with the amount of capital stock subscribed by
each are as follows:
     G.H. Gibbons,          Archer, Florida,          13 shares,
     H.C. Sealey,           Alachua, Florida          28 shares,
     J.W. Lightsey,         Bell, Florida              5 shares,
     W.H. Hayes,            Alachua, Florida          25 shares
     G.W. Parker,           Gainesville, Florida      30 shares
     S.D. Reaves            Alachua, Florida           3 shares
     J.B.H. Gay,            Bell, Florida              8 shares
     W.F. Barry,            Wade, Florida             10 shares;