CERTIFICATION OF

RESOLUTION OF

GOVERNING BOARD OF NAGS HEAD

The Governing Board of Nags Head adopted the following resolutions as of the date set forth below:

WHEREAS, the Governing Board has approved a Custodial Agreement among the Finance Officer of Nags Head, Finistar, Inc. (“Finistar”), and Gateway Bank & Trust Company, 1145 North Road Street, Elizabeth City, North Carolina 27909-3334 (“Fiscal Agent”); and,

WHEREAS, the Finance Officer has been authorized and directed by the Governing Board to deposit funds of up to an amount not to exceed ______in a custodial account at Fiscal Agent for disbursement and deposit in North Carolina financial institutions, the deposits of which are insured by funds of the Federal Deposit Insurance Corporation (“FDIC”) and which are Participating Banks (as defined in the Custodial Agreement), as provided in the Custodial Agreement.

NOW, THEREFORE, BE IT RESOLVED that the Fiscal Agent, a North Carolina chartered, commercial bank the deposits of which are insured by funds of the FDIC, be and hereby is designated as an official depository of ______; and,

BE IT FURTHER RESOLVED, that each Participating Bank, the name and address of which is listed on Attachment “A”, be and hereby is designated as an official depository of ______, such List being deemed incorporated by reference into this Resolution for the purpose of making deposits in accordance with this agreement with Finistar, Inc.; and,

BE IT FURTHER RESOLVED, that the Finance Officer shall report the Fiscal Agent and each Participating Bank on the List as required by GS 159-33 and 20 NCAC 7.

The foregoing Resolutions were adopted and approved by the Governing Board as of the 3rd day of January 2007. ______

Signature of Finance Officer


Attachment A

Bank List

Bank Name / Street Address / City / State / Zip
AF Bank / 21 East Ashe Street / West Jefferson / NC / 28694-0026
Alliance Bank & Trust / 285 W. Main Avenue / Gastonia / NC / 28053-1099
American Community Bank / 4500 Cameron Valley Parkway, Suite 150 / Charlotte / NC / 28211-3552
American National Bank & Trust Company / 628 Main Street / Danville / VA / 24543-0191
Anson Bank & Trust / 211 South Greene Street / Wadesboro / NC / 28170-0249
Aquesta Bank / P.O. Box 700 / Cornelius / NC / 28031
Asheville Savings Bank, SSB / 11 Church Street / Asheville / NC / 28802-0652
Bank of Asheville / 79 Woodfin Place / Asheville / NC / 28801-2492
Bank of Commerce / 100 Queens Road / Charlotte / NC / 28204
Bank of Granite / 25 Third Street, NW / Hickory / NC / 28603-0578
Bank of North Carolina / 831 Julian Avenue / Thomasville / NC / 27361-1148
Bank of Oak Ridge / 2211 Oak Ridge Road / Oak Ridge / NC / 27310-0002
Bank of Stanly / 167 North Second Street / Albemarle / NC / 28002-0338
Bank of the Carolinas / 135 Boxwood Village / Mocksville / NC / 27028-0129
Bank of Wilmington / 1117 Military Cutoff Road / Wilmington / NC / 28405-3639
Belmont Federal Savings / 42 Catawba Street / Belmont / NC / 28012-0628
Black Mountain Savings Bank, SSB / 200 East State Street / Black Mountain / NC / 28711-0729
Blue Ridge Savings Bank / 20 South Pack Square / Asheville / NC / 28816-6249
Cabarrus Bank & Trust / 700 Church Street / Concord / NC / 28025-1970
Capital Bank / 4901 Glenwood Ave. / Raleigh / NC / 27619-8949
CapStone Bank / 4505 Falls of Neuse Rd / Raleigh / NC / 27609
Cardinal State Bank / 3710 University Drive, Suite 100 / Durham / NC / 27717-2485
Carolina Bank / 2604 Lawndale Drive / Greensboro / NC / 27404-0209
Carolina Commerce Bank / 543 Cox Road / Gastonia / NC / 28054-4222
Carolina First Bank / 102 S. Main Street / Greenville / SC / 29602-1029
Carolina National Bank / 400 Franklin Street / Rocky Mount / VA / 24151-0309
Carolina Trust Bank / 901 East Main Street / Lincolnton / NC / 28093-0308
Catawba Valley Bank / 1039 Second Street NW / Hickory / NC / 28603-1907
Central Carolina Bank / 111 Corcoran Street / Durham / NC / 27702-0931
Cherryville Federal Savings / 100 West Main Street / Cherryville / NC / 28021-0369
Citizens South Bank / 519 South New Hope Road / Gastonia / NC / 28053-2249
Coastal Federal Bank / 2619 Oak Street / Myrtle Beach / SC / 29577-3129
Community Bank of Rowan / 204 E. Innes St., Suite 280 / Salisbury / NC / 28144-5010
Community National Bank / 222 Main Street / South Boston / VA / 24592-0817
Cooperative Bank / 201 Market Street / Wilmington / NC / 28402-0600
Cornerstone Bank / 3710 Nash Street North / Wilson / NC / 27893-8189
Crescent State Bank / 1005 High House Road / Cary / NC / 27512-5809
Farmers & Merchants Bank / 138 N. Salisbury Avenue / Granite Quarry / NC / 28072-0307
Fidelity Bank / 100 S. Main Street / Fuquay-Varina / NC / 27526-0008
First Bank / 341 North Main Street / Troy / NC / 27371-0508
First Capital Bank / 207 Highway 15/401 Bypass East / Bennettsville / SC / 29512-0040
First Carolina State Bank / 137 North Winstead Avenue / Rocky Mount / NC / 27804-1469
First Charter Bank / 10200 David Taylor Drive / Charlotte / NC / 28237-7937
First Community Bank, N.A. / 2000 W. First Street, Suite 411 / Winston-Salem / NC / 27104-4225
First Federal / 2440 Mall Drive, Suite 100 / N. Charleston / SC / 29418-6544
First Federal Bank / 200 East Divine Street / Dunn / NC / 28335-1049
First Federal Savings Bank / 320 East Main Street / Lincolnton / NC / 28092-3398
First National Bank and Trust Company / 101 Sunset Avenue / Asheboro / NC / 27204-1328
First National Bank of Shelby / 106 South Lafayette Street / Shelby / NC / 28151-0168
First Savings & Loan / 206 West Center Street / Mebane / NC / 27302-0390
First South Bank / 1311 Carolina Avenue / Washington / NC / 27889-2047
First Trust Bank / 100 Queens Road / Charlotte / NC / 28235-5529
FNB Southeast / 1501Highwoods Blvd. / Greensboro / NC / 27419-8807
Four Oaks Bank & Trust / 6114 U.S. 301 South / Four Oaks / NC / 27524-0309
Franklin Security Bank, FSB / 2809 S. Lynnhaven Road, Suite 200 / Virginia Beach / VA / 23452
Gateway Bank & Trust Company / 1145 N. Road Street / Elizabeth City / NC / 27906-1908
Gibsonville Community Bank / 220 Burlington Street / Gibsonville / NC / 27249-0107
Grayson National Bank / 113 West Main Street / Independence / VA / 24348-0186
Greene County Bank / 100 North Main Street / Greeneville / TN / 27744-1120
Greystone Bank / 8414 Falls of the Neuse Rd, Suite 206 / Raleigh / NC / 27615
Harrington Bank / 5925 Farrington Road / Chapel Hill / NC / 27517-8607
Hertford Savings Bank, SSB / 121 North Church Street / Hertford / NC / 27944-0156
High Point Bank & Trust Company / 300 North Main Street / High Point / NC / 27261-2270
Highlands Union Bank / 340 West Main / Abingdon / VA / 24212-1128
Home Savings Bank, SSB / 155 West South Street / Albemarle / NC / 28002-0489
Home Savings Bank, SSB of Eden / 106 South Van Buren Road / Eden / NC / 27289-0727
HomeTrust Bank / 10 Woodfin Street / Asheville / NC / 28802-0010
Industrial Federal Savings Bank / 107 West Center Street / Lexington / NC / 27293-0687
Jackson Savings Bank, SSB / 741 West Main Street / Sylva / NC / 28779-0757
KS Bank / 1031 N. Brightleaf Blvd. / Smithfield / NC / 27577-0661
Lexington State Bank / One LSB Plaza / Lexington / NC / 27293-0867
Longleaf Community Bank / 1401 Fayetteville Road / Rockingham / NC / 28380-1208
Lumbee Guaranty Bank / 403 East 3rd Street / Pembroke / NC / 28372-0908
Macon Bank / One Center Court / Franklin / NC / 28744-1559
Mechanics and Farmers Bank / 2634 Chapel Hill Boulevard / Durham / NC / 27702-1932
MidCarolina Bank / 3101 South Church Street / Burlington / NC / 27216-0968
Millennia Community Bank / 1310 W. Arlington Blvd. / Greenville / NC / 27833-0410
Mooresville Savings Bank, SSB / 347 North Main Street / Mooresville / NC / 28115-0117
Morganton Federal Savings & Loan Association / 100 South King Street / Morganton / NC / 28680-1509
Mount Gilead Savings / 123 North Main Street / Mount Gilead / NC / 27306-0097
Mountain 1st Bank & Trust / 203 Greenville Highway / Hendersonville / NC / 28793-6428
Mountain Community Bank, Branch of Carter County Bank / 601 E. Elk Avenue / Elizabethton / TN / 27644-1990
Mountain National Bank / 220 Main Street / Hillsville / VA / 24343-0165
Mutual Community Savings Bank, SSB / 315 East Chapel Hill Street / Durham / NC / 27702-3827
Nantahala Bank & Trust Company / 120 Siler Road / Franklin / NC / 28734-9275
New Century Bank / 700 W. Cumberland Street / Dunn / NC / 28335-1988
New Century Bank of Fayetteville / 2806 Raeford Road / Fayetteville / NC / 28304-7189
New Dominion Bank / 1100 Kenilworth Avenue / Charlotte / NC / 28237-7389
New Republic Savings Bank / 3321 Sunset Avenue / Rocky Mount / NC / 27804-0868
North State Bank / 6200 Falls of Neuse Road / Raleigh / NC / 27619-8367
Omni National Bank / 320 Green Street / Fayetteville / NC / 28302-1450
Paragon Commercial Bank / 3605 Glenwood Ave., Suite 100 / Raleigh / NC / 27612-4955
Park Sterling Bank / 1535 Elizabeth Avenue, Suite 202 / Charlotte / NC / 28203
Parkway Bank / 509 Wilkesboro Boulevard / Lenoir / NC / 28638-1058
Patrick Henry National Bank / 2770 Riverside Drive / Bassett / VA / 24055-1776
Patriot State Bank / P.O. Box 1839 / Fuquay-Varina / NC / 27526
Peoples Bank / 518 West C. Street / Newton / NC / 28658-0467
Peoples National Bank / 141 Westover Drive / Danville / VA / 24541-1658
Piedmont Federal Savings / 16 West Third Street / Winston-Salem / NC / 27102-0215
Port City Capital Bank / 1508 Military Cutoff Road, Suite 100 / Wilmington / NC / 28403-5730
Progressive State Bank / 308 North Chestnut St. / Lumberton / NC / 28359-1330
Providence Bank / 2401 Sunset Avenue / Rocky Mount / NC / 27804
Randolph Bank & Trust / 175 North Fayetteville Street / Asheboro / NC / 27204-1888
Regions Bank / 6826 Morrison Boulevard / Charlotte / NC / 28220-1816
Roanoke Rapids Savings Bank, SSB / 325 Becker Drive / Roanoke Rapids / NC / 27870-0130
Roanoke Valley Savings Bank, SSB / 828 Roanoke Avenue / Roanoke Rapids / NC / 27870-0880
Roxboro Savings Bank, SSB / 313 South Main Street / Roxboro / NC / 27573-0489
Security Savings Bank, SSB / 101 North Howe Street / Southport / NC / 28461-0069
Select Bank and Trust / 1645 E. Arlington Blvd. / Greenville / NC / 27835-8166
Sound Bank / 5039 Executive Drive / Morehead City / NC / 28557-0943
SOUTHBank / 400 West Main Street / Durham / NC / 27702-2208
Southern Bank and Trust / 116 East Main Street / Mount Olive / NC / 28365-0729
Southern Community Bank and Trust / 4605 Country Club Road / Winston-Salem / NC / 27104-6134
SouthTrust Bank / 10130 Mallard Creek Road, Suite 200 / Charlotte / NC / 28256-3975
Surrey Bank & Trust / 145 N. Renfro Street / Mount Airy / NC / 27030-1227
Tarboro Savings Bank, SSB / 501 Main Street / Tarboro / NC / 27886-0190
Taylorsville Savings Bank, SSB / 107 Main Avenue Drive / Taylorsville / NC / 28681-2524
The Bank of Currituck / 250 Caratoke Highway / Moyock / NC / 27958-0006
The Community Bank / 616 South Key Street / Pilot Mountain / NC / 27041-1368
The East Carolina Bank / 35080 Highway 264 / Engelhard / NC / 27824-0337
The Heritage Bank / 106 S. Main Street / Lucama / NC / 27851-0100
The Home Bank, FSB / 43 Ocoee Street / Copperhill / TN / 37317-0927
the little bank / 1101 W. Vernon Avenue / Kinston / NC / 28502-0279
The Scottish Bank / 1057 Providence Road / Charlotte / NC / 28207-2568
Trinity Bank / 310 West Franklin Street / Monroe / NC / 28111-5044
TriStone Community Bank / 154-B Charlois Blvd. / Winston-Salem / NC / 27114-5288
United Community Bank of North Carolina / 1225 Asheville Highway / Brevard / NC / 28712-0979
Union Bank & Trust, LLC / 103 Williamsboro St. / Oxford / NC / 27565-0429
Vantage South Bank / 293 East Front Street, Suite B / Burlington / NC / 27215
Waccamaw Bank / 110 N. J.K. Powell Blvd. / Whiteville / NC / 28472-2009
Wake Forest Federal / 302 South Brooks Street / Wake Forest / NC / 27588-1167
Yadkin Valley Bank & Trust / 209 N. Bridge Street / Elkin / NC / 28621-0888

In order to participate in the Finistar program all of the above banks must meet the definition of “well capitalized” or “adequately capitalized”, as defined by the Federal Deposit Insurance Corporation (“FDIC”). The bank will immediately notify Finistar if it is not defined as either “well capitalized” or “adequately capitalized”.