AZ vs. CA:02 California Exhibits, Vol II; Nos. 58-113A

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1. All Officers of the company shall be removable by the Board of Directors, in manner and for reasons as regulated by the By-Laws. 2. No Stockholder owning less than One hundred shares shall be entitled to an examination of the books, books of account, documents, papers or vouchers, of the company, except by authority of a resolution of the Board of Directors, and such examination shall only take place, at the time, in the manner, and to the extent authorized by such resolution, excepting from this restriction such corporate records as are by express statute of New Jersey open to inspection by stockholders. 3. The Board of Directors may create and issue scrip of the company, not to exceed an amount at par $3,750,000 receivable in payment or part payment of the Company's lands and water-rights for sale, containing such agreements, redeemable in such manner, or at such times, as the Board of Directors may determine; and the Board may create from the company's assets, and establish such fund for the redemption, purchase or payment of said scrip, as it may deem advisable. In Witness Whereof, we have hereunto set our hands and seals this 23rd day of April 1896. In Presence Lewis H. Pounds, (Seal) of: Anthony H. Heber, (Seal) George A. Stimpson Furman Baker (Seal) as to all Archibald M. Ostrom, (Seal) Charles Nr King Charles E. Hoffman (Seal) Charles N. King (Seal) Jacob N. Stickler. (Seal)