Mountain Retreat Association

Reverend Russell M. Kerr and Nancy D. Kerr Memorial Fund-44747

Beneficiary location:

Montreat, NC

Account number: 103120058823

Designated Use

The Foundation shall reinvest the net income of the Fund (hereinafter the Net Income) into principal until the principal value of the Fund equals $10,000.00, so that such reinvested Net Income becomes principal. After the principal value of the Fund equals $10,000.00, the Foundation shall pay the New Income quarterly after the expiration of each calendar quarter (or at any other regular time interval as established by the Board of trustees of the Foundation from time to time) to Montreat Conference Center, P. O. ox 969 montreet, North Carolina 28757, with preferred use for the Club Program and/or any successor program thereto.