WHEREAS, the Bylaws of the Presidio Trust authorize the Presidio Trust Board of Directors to elect from among its members a chairperson and vice chairperson to perform the duties stated in the Bylaws; and

WHEREAS, on July 9, 1997, the Board of Directors elected Toby Rosenblatt to serve as Chairperson and Edward Blakely to serve as Vice Chairperson; and

WHEREAS, the Board of Directors desires to ratify this election by formal resolution;

NOW, THEREFORE, BE IT RESOLVED, that the Presidio Trust Board of Directors hereby ratifies the election of Toby Rosenblatt as Chairperson and Edward Blakely as Vice Chairperson and duly authorizes them to execute the duties and responsibilities of their offices.

Adopted: March 17, 1998