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., � ` , � . • � R E S 0 L U T I 0 N __�.____ RESOLVED, that the Vice President, Sales Departrnent, the Gensral Sales Manager and all Assistarit Sales Managers of the Sal.es Department of Phillips Petrol�um Company be and are hereby authorized and empowered to act on behalf of Phillips Petroleum Company in executing, acknowledging and delivering leases covering new or established service station pro- perties and pe�roleum� L�G and anhydrous ammonia bulk station properties, and the exercise of options to renew preserrt leases thereon, where the term of such lease or renewal is for a peY^i.od riot in excess of twenty- five (25) years; al�� natices of ca.ncella.tion of leases, mututal can- cellation of leases9 leasa �.mendmerrt s, agreements with lendirg agenci es to purchase evidances o.f debt and security in event of cancellation of leases the rental� of which have been assigned as secur�_ty, letters of comnitment or wa.iver in connection with said agreements, assignments of options to purchase property, notices of exercise of options to pur- chase property; also bids and contracts not requiring the signature of an c�fficer of the Compa.r�,y; and such acts of the Vice President, Sales Department, General Sa1.es Manager, or any Assistant Sales Manager9 of the Sales Department �f Phil'lips Petroleum Company9 made in behalf of Phillips Petroleum Company in conformance with this authorization are hereby rati fied, co nf i rmed and adopt ed as the a cts and d eeds nf Philli ps Petroleum Compan�ro BE IT F'Uft'I'HER RESOLVF,D, that all Division Managers of �he Sales Department of Phillips Petroleum Canpany be and are hereby authorized and e�npowered to act in behalf of Phillips Petroleum Company in executing, acknowledging and delivering leases coveri_rg n�w or established service stat�ion properties a rrl i:he exercise af options to renew present lea9�s where the peri od of sur. h le ase or renewal does not exceed ten (10 ) years and where the rerrtal �on�iitments under any such lease or renewal do es nat exceed Three Hundred Dollars (�300,00) per month9 and leaseg coverin�g new or established peiroleum, LPG or anhydro�us ammonia bulk station properties, and the exercise of options to renew present leases thereon where the period of such lease or exte,nsion does nat exceed ten (10) years and where the rental commitment on such lease or renewa.l does nat exce�d One Hundred Seventy-five Do].lars (�175000) per month, and to amend9 serve natice of cancellation and mutually cancel such service station and petroleum, LPG and anhydrous t�mmonia bulk station leases; a1.so to assign options to pur+- chase property and serve notice oF exercise of options to purchase property; and such acts of every Division Manager of the Sales Depar�ment of Phillips Petrolewn Company made �n behalf a Phillips Petroleum Company in conf orm- anc� with this autharization are hereby �ratified9 confinned and adopted as the acts and deeds of Phillips Petroleum Cmnpanyo