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r <br /> Y <br /> rt <br /> 50 The restrictions, if any, imposed by the Articles <br /> of Organization upon the transfer of shares of stock of any class <br /> are as follows: <br /> All shares of the capital. stock of this Corporation <br /> shall be subject to the following restrictions controlling the <br /> assignment and transfer thereof <br /> Any stockholder of this Corporation (which expression <br /> shall whenever used in these restrictions, be deemed to include <br /> the executor, administrator or other representative of any <br /> deceased stockholder, and a mortgagee or pledgee. and a receiver, <br /> assignee or trustee in bankruptcy of any stockholder, and the <br /> purchaser or assignee of any shares sola upon execution) who may <br /> desire to have transferred any shares, whether by way of sale, <br /> = mortgage, pledge or otherwise, to any person, firm or corporation <br /> other than a then existing stockholder, or his spouse or issue, <br /> or the legal representative of any trust or estate in which such <br /> stockholder, his spouse or issue have the . principal beneficial <br /> interest, shall first.' offer them to the Corporation by delivering <br /> to the Clerk ofr he corporation a notice in writing setting forth <br /> .t <br /> his i . ntion to make' such transfer, the number and class of <br /> shares involved, the name and address of the proposed transferee <br /> .and the price at which he is willing to sell his shares or other <br /> R. �. .:consideration for such transfer, and the name of one. arbitrator. <br /> The C6rporation, acting 'through its Board of Directors, <br /> .shall have the exclusive option, for a period of thirty days <br /> after receipt of such notice, to either accept. said offer or by <br /> -notice to him in writing name a second arbitrator, and these two <br /> shall name a third, It shall then be the duty of the arbitrators <br /> to ascertain the value of the stock, and if any arbitrator shall <br /> neglect or refuse to appear at any meeting. appointed by the <br /> arbitrators , a majority may act in the absence of s-uch <br /> arbitrator, <br /> After the acceptance of the offer, or the report of the <br /> arbitrators as to the value of the stock, the Corporation shall <br /> have 30 days within which to purchase the same at such valuatfons, <br /> but if at the expiration of 30 days, the Corporation shall not <br /> have exercised the richt so to purchase the Corporation's rights <br /> thall be deemed to be waived and the stockholder shall be free to <br /> transfer said shares upon the terns specified in such notice and <br /> to the transferee named therein, but to none other, provided, <br /> however, that if such transfer is not completed within six (6 ) <br /> months from the date the original notice was received by the <br /> Corporation from the stockholder, said shares shall main be <br /> subject to these restrictions. <br /> ' <br /> No shares of stock shall be sold or transferred on the <br /> books of the Corporation until these provisions have been <br /> complied with; provided, howeverr that these provisions shah, not <br />