Woodbury Union Presbyterian Church

Alice J. H. Sjoholm Fund

Beneficiary location:

Warwick, RI

Account number: 102240100983

Designated Use

To be used as the Session of said church shall decide for the upkeep, repair and maintenance of its church building, manse and/or Christian Education building and/or for the purchase of supplies or equipment for the operation of the program of the said church. In the event of catastrophe involving destruction of damage of said real property which is not covered by insurance, or in the event the church embarks on a building campaign to upgrade or enlarge its facilities, the Session of the Woodbury Union Church, may withdraw up to eighty percent (80%) of the units of participation or shares initially placed in the memorial fund which pays said church an Income, from the gifts to the Foundation made by the Donor, Alice J. H. Sjoholm, to pay life income to herself and/or others. Such withdrawal shall be made by notifying the Foundation in writing of such intent to withdraw through passage of a resolution for said withdrawal by a majority vote at a properly constituted meeting of the Session. The Resolution shall certify that the decision was made within the restrictions placed on the fund hereby established by this agreement and the use of its principal and/or income. The Session of the said Woodbury Union Church may make such withdrawal by sending the Foundation such written notification, together with a copy of the Resolution described above, at least ten day prior to the quarterly valuation date of the fund in which the Memorial Fund is invested in which the Session whishes withdrawal action. Each request for partial withdrawal shall be for not les than $500.00 per withdrawal. Income on any withdrawal shall cease on the date of the withdrawal.