First Presbyterian Church

Rose F. Davison Memorial Fund-35368

Beneficiary location:

Oakland, CA

Account number: 102262004046

Designated Use

For its use as the Session of said church shall decide in its mission outreach into local community projects or programs. As example of such community projects or programs would be child care. This is but one example of areas of service for which the Session could use the income, and is not intended to be definitive. It is an example only, with the decision remaining with the church Session. Should the First United Presbyterian Church of Oakland, California decide that it is more important to use said church's share of the principal of this gift or a portion thereof, for its intended purpose, rather than to continue to use the income, the Foundation is authorized to withdraw a part or all of said church's share of 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directs, at its market value on the next valuation date following receipt of the request for withdrawal and pay the withdrawn amount to the said church (for its use in fulfilling the mission program specified by the donor). Each request for partial withdrawal shall be in writing and received by the Foundation at least ten days prior to the valuation date in which action is requested. Each request shall be for not less than $500.00 per withdrawal. Income on any withdrawal shall cease on the date of withdrawal. Such partial or total withdrawal of the funds designated for the First United Presbyterian Church of Oakland, California shall be paid to said church only upon receipt by the Foundation of an official resolution of the Session of said church that the need for expenditure of the principal is greater than the need for the continuing income generated by investment of that principal. Should the funds so withdrawn not be expended for the said church's local community projects or programs within six months of their withdrawal, they must be returned to the Foundation for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 United Presbyterian Church of Oakland, California, as set forth above (as specified in this agreement).