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0 N:oo{ V ?A,cr 465 <br />WHEREAS, the Southern National Bank is requesting that the County of <br />Lee subordinate its right to reverter to the lien of the deed of trust; and <br />WHEREAS, the County of Lee granted such a subordination for the <br />financing with the Farmers Home Administration; <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners <br />for the County of Lee as follows: <br />SECTION I : The Chairman and Clerk to this Board are authorized and <br />directed to join in the execution of a deed of trust from Lemon Springs Voluntary <br />Fire Department in favor of the Southern National Bank of North Carolina for <br />the principal amount of $100, 000 for the purpose of subordination of the right to <br />revert contained in the deed recorded in Book 328, Page 585, to the lien of the deed <br />of trust and for no other purpose, so that in the event of a completed sale under <br />foreclosure said right of redemption shall be extinguished and the guarantee of the <br />Trustee's deed shall acquire fee simple title to the 1. 3 acre tract of land. <br />SECTION 2: This Resolution shall be in full force and effect immediately <br />upon adoption. <br />Commissioner Bertha L. Matthews seconded the motion and <br />upon a vote the results were as follows: <br />AYE: Cox, Dossenbach, Matthews, Wicker and Dotterer <br />NAY: None <br />The Chairman ruled that the resolution had been <br />unanimously adopted. <br />Mr. Matthews was recognized for additional comments and <br />he expressed the opinion that the voluntary fire departments rendered <br />valuable services and in view of the contribution of time and effort <br />was sure that it represented a bargain for the protection afforded. <br />Commissioner John R. Dossenbach, Jr. nominated and moved <br />that Mr. Rudolph Mullis be reappointed to the Airport Commission for <br />a three-year term or until his successor is appointed and qualified. <br />Commissioner Bertha L. Matthews seconded the motion, and upon a vote <br />the results were as follows: <br />AYE: Cox, Dossenbach, Matthews, Wicker and Dotterer <br />NAY: None <br />The Chairman ruled that the resolution had been <br />unanimously adopted and Mr. Mullis was duly appointed a member of the <br />Airport Commission. <br />Commissioner John R. Dossenbach, Jr. nominated Dr. David <br />