3. SOUTH COPPERSTONE DIVIDEND PREFERENCE. To the extent that any dividends
are declared by the Board of Directors of the Company from current earnings of
the Company that are attributable to any dividends paid to the Company by South
Copperstone ("South Copperstone Dividends") or South Copperstone Proceeds (after
deduction of a 5% handling fee), shares of Series B Preferred Stock shall be
entitled to receive dividends at a fixed annual rate of Three Percent (3%) of
the Liquidation Preference,, payable solely from said South Copperstone
Dividends or South Copperstone Proceeds, before any South Copperstone Dividends
are paid by the Company on its common shares. Such dividends payable to the
holders of the Series B Preferred Stock shall not be cumulative. So long as any
shares of Series B Preferred Stock are outstanding, no dividend (other than a
dividend in common stock or in any other shares ranking junior to the Series B
Preferred Stock ) shall be declared or paid in any year from South Copperstone
Dividends or South Copperstone Proceeds (other than from said 5% handling fee)
unless, in each case, the full dividend for said year on all outstanding shares
of Series B Preferred Stock shall have been or contemporaneously are declared
and paid from the South Copperstone Dividends or South Copperstone Proceeds.
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