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contracting and prosecuting and defending suits and <br />shall have capacity to acquire, hold, enjoy, d ispose <br />of and convey all property, real and personal, which <br />they may acquire by 1purchase, donation or otherwise <br />for the purpose of carrying out the intentions of said <br />church except as herein gDecified; and said corpora- <br />tion shall osy:lence on Aoril 0, 1030, and its existence <br />shall be perpetual unless sooner dissolved as provided <br />by law. <br />Z. The Board of Trustees of first Pres;ytcrian <br />Church of Grand Island, Hall County, Ncbraska,is h,�rcby au- <br />thorized and directed to ;)orrov,,, on i3ehalf of said church, <br />against unpaid _ledges and future pledges, the principal sum <br />of One Hundred Fifty Thousand Dollars (;'150,000.00) for a term <br />of not orc than twelve (12) years at a rate of interest not <br />to exceed four and one -half per cent (4z o) per annum, and to <br />make and deiiver to the lenders thereof the nccessary e-,ride -zce <br />of such indebtedness, lnciud _nq a 1 -ir` t `?ortr.a rc to secure the <br />sane on the church property described as folloiars: <br />A tract of land located in the Souti- i-wcst <uarter o_" the <br />i""or t_Iwest Quarter (S'� =1Z_ f:'` <br />_) and t't e worti: west %carter of <br />the Southwest Quarter (iv',;z,'5'.f4-) of Section Twenty -one (1_1) <br />in To,�inship Eleven (11), Ivivrth, ilanre i -iine (0), ',':'est of <br />the 6th P.: °:. in Hall County, iehra-.: ,a, more particclarly <br />described as a tract .pounded on the =' ortiicrl, side by the <br />South side of ': est nnna Street of Grand Island, Nchrasl-�a; <br />bounded on the 11asterly sine by a line extending the, "est <br />side of Tilden Strut of Grand Island, tiTe:orasl:a, and ex- <br />tcnoing from the South site of '.7cst :`u,nna Strect southerly to <br />the C. B. & Q. Railroad riCiit-of -way located in sa_d sec- <br />tion; bounded on ti.e Southerly side by said railroad right - <br />of- ti -iay; and bounded on the `.cstcrly side by a line extend- <br />ing from the -ast side of Grant Street of Gra ;: Island, <br />Nebraska, and extending from the mouth sine of `,!cst ; "•nna <br />Stre:t southerly to said railroad right -of -way in said <br />section; said tract containin3 approxi.riately 0.32 acres <br />of land; <br />on the express condition that the existin- loan secured by a <br />mortnare on said church property is fully canceled. <br />3. That the hoard of Trustees is further expressly <br />authorized and directed to perform each and every othcr act <br />which to said Board shall seem necessary and proper to carry <br />out the autilarizat ions stated .,.crein, and to perform each and <br />every other act which shall reasonably. be required by said <br />lenders in cornpletin� t'rie tra nsactions hereby authorized. <br />4. That said board of Trustees shall pay, out of <br />