LOS ANGELES
OF
BIBLE INSTIT U TE
Legal Form of Founding a Scholarship
In cons;derat ion of the payment to it of the sum of $. .. ... . b\· the receipt whereof is hereby acknowledged, fo r the purpose of mai ntain ing a permanent schola r shi p endowment fund. t he BIBLE INSTITUTE OF LOS ANGELES (a religious co r porat ion ) covenant s and agrees to inves t and reinvest sa id money in such securiti es as a re or will be a legal inves tment for Ca liforn ia sav ings hank s. insurance companies, and for owners of trust fund s, as prescri bed by the laws of the Sta te cif Cali fo rnia; and furth er coYenant s and agrees to pay the annual income derived from the securiti es so purchased wi th sa id money, to worthy student s. not to exceed the amoun t of Three Hundred Twenty- fi ve Doll a rs ($32 j .00 ) each, per annum, in order to ass ist the sa id student s to complete a cou r se of study at the Bibl e Institute of Los Angeles, and upon such te rms and conditi ons as may be prescd Jed by said religious co rporation. It is further coYenanted and agreed that the scholarshi p endowment herein provided f or shall be known as the " ..... .. ......... .... ( name of donor ) Schola rship of the Bible Inst itute of Los Angeles ... and shall be ente red upon the books of said religious co rporation in tha t name. I N \\"ITNESS \\'HEREOF , the said Bible Insti tute of Los Angeles ( a religious corporation ) has hereunto caused this agreement to be executed by its dul y author ized office1·s. and the co rporate sea l to be affixed thi s..... . ... ..clay of ..... ...., 19........ . BIBLE I ~STITUTE OF LOS ANGELES , By.. ( Corpo rate Seal ) President.
Secretar\'.
Eighty•n ine
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