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7 2 <br /> 1.4 Borrowing powers. <br /> Appendix [2] attached is a copy of the current By-laws of the <br /> Association. These were reviewed by Moore, Van Allen to ensure that the <br /> Association has the power to borrow money and enter into necessary <br /> deeds of trust and agreements with lenders. Article 2 . 3 of the Bylaws <br /> of TYHA covers these powers. <br /> 1. 5 Attorneys. <br /> Moore , Van Allen <br /> (Beverley Webb and Jamie Clarke) <br /> 2200, West Main Street, <br /> Suite 800 <br /> Durham N.C. 27705. <br /> 1. 6 Board of Directors <br /> The Board of TYHA presently has 13 positions but it is intended to <br /> increase these to approximately 16, 12 will be from TYHA and its <br /> various divisions including Youth Hockey, Figure skating, Swim Groups, <br /> and Adult programs. 1 member designated by Orange County (this individ- <br /> ual would likely come from the public sector such as a member of the <br /> Parks and Recrearion Advisory Council) . 1 member from each of Hillsb- <br /> orough and Chapel Hill. 1 member from the financing institution with <br /> legal and auditing support a further possibilty. <br /> Please see the attached Appendix [3] for a listing of the present <br /> Board of TYHA. <br /> Membership of the board is structured so that half come up for re- <br /> election each year. This provides the necessary program & management <br /> continuity. <br /> 1. 7 Insurance <br /> 1. 7 . 1 TYHA uses the Home Insurance Agency of 318 Holland Street Mall <br /> , P.O.Box 1887 Durham N.C. 27702 as general Agent for its insurance <br /> needs. Appendix [4] attached shows a complete listing of the present <br /> insurance coverage, the Insurance companies being used and the premia <br /> charged. <br /> 1.7 . 2 Participation in the Group policies taken out by the USA Hockey <br /> Association and the ISIA Figure Skating Association. This participation <br /> is achieved by payment of $15 per person for the USAHA and $125 payment <br /> to ISAI. <br /> 1. 7 . 3 TYHA have obtained a quotation from Hartgord Steam Boiler and <br /> Inspection Company that would cover property damage of $100,000; <br /> Business interuption of $ 360, 000 and extra expense of $ 179, 000. There <br /> wpuld be deductibles on A/C equipment of $5, 000 and $1, 000 on all other <br /> categories. Annual premium would be $ 1, 013 . <br />