First Presbyterian Church

Robert O. and Maude A. Grace Fund-36301

Beneficiary location:

Newark, CA

Account number: 102261004064

Designated Use

For use at the direction of the church Session. Should the First Presbyterian Church of Newark, California decide that it needs a portion or all of the principal of this gift to aid in funding a capital building program or other special program or project, the Foundation is authorized to withdraw the principal of this gift or a portion thereof, as the church Session directs, at its market value on the next valuation date following receipt of the request for withdrawal and to pay the withdrawn amount to the said church. Each request for withdrawal shall be in writing and be received by the Foundation at least ten days prior to the valuation date on which action is requested. Each request shall be for not less than $500.00. Income on any withdrawal shall cease on the date of withdrawal. Such partial or total withdrawal of the funds designated for the First Presbyterian Church of Newark, California shall be paid to said church upon receipt by the Foundation of an official resolution of the Session of said church citing the need for expenditure of principal. Should the funds so withdrawn not be expended for the program or project cited in the Session resolution within six months of their withdrawal, they must be returned to the Foundation for investment with payment of the income to continue to said First Presbyterian Church of Newark, California.