OF
BIBLE INSTITUTE
LOS ANGELES
Legal Form of Founding a Scholarship
In cons;derati on of the payment to it of the sum of $...................... ........ , by .. ... .. .... .. ..... ..... .. ... ... ... ... .. .............. ... .. ... ., the rece ipt whereof is hereby acknowledged, fo r the purpose of maintaining a permanent scholarshi p endowment fund, the BIBLE Il\"STITUTE OF LOS ANGELES ( a relig ious co r porati on ) coYenant s and agrees to im·est and reinvest said money in such securities as are or will be a legal in vestment fo.r Ca lifornia sa \·ings banks, insurance compani es , and for owners of trust fund s, ·as presc ribed by the laws of the State of Cali fo rnia; and furth er covenants and agrees to pay the ann ual income derived fr om the securities so purchased with sa id money, to worthy students, not to exceed the amount of Three Hundred Twenty-fi.ye Dollars ($325 .00) each, per annum, in order to assist the said stud ent s to complete a course of study at the Bibl e Institute of Los Angeles . and upon such terms and conditi ons as may be prescribed by sa id religious corporati on. It is further covenanted and ag reed that the scholarship endowment herein prov ided for shall be known as the " ........................... .. .. .... ( name of donor ) Scholarship of the Bible Institute o f Los Angeles", and shall be entered upon the books of sa id religious co rporati on in tha t name. I N WITNESS \\'HEREOF, the said Bible Institute of Los Angeles ( a rel;gi ous co rporati on ) has hereunto caused this ag reement to be executed by its duly author ized officers, and the corporate seal to be affixed this .. ... .. ... ...... ........ .. ... .. .day of
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BIBT .E I NSTITUTE OF LOS ANGELES,
By.. ( Corporate Seal )
President.
S ecretary.
Eighty-nine
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