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LEXINGTON HIGH SCHOOL <br />CLASS OF 1954 <br />56 Martin Road <br />Concord, MA 01742 <br />February 16, 2000 <br />Mr. Alan Fields, Chair <br />Trustees of Public Trusts <br />Town of Lexington <br />Lexington, MA 02421 <br />Dear Mr. Fields: <br />This letter is to set forth the terms under which the Trustees of Public <br />Trusts agree to hold the trust fund to be known as <br />The Lexington High School Class of 1954 <br />Lawrence G. Movsessian Memorial Scholarship Fund: <br />1. The trustees will hold and invest the fund as part of the <br />Endowment Fund administered by them for the benefit of the Town <br />of Lexington. <br />2. Three quarters of the net income earned each year by the fund <br />shall be paid out in scholarship(s) awarded by the Lexington PTA <br />Scholarship Committee as long as such committee exists. I f the <br />Lexington PTA Scholarship Committee ceases to exist, the income <br />earned, the income so earned may be awarded in scholarships <br />designated by the Lexington High School Scholarship <br />Coordinators. <br />3. Recipients must be Lexington residents and graduates of <br />Lexington High School. <br />4. Scholarships are to be need based <br />5. One quarter fo the net income earned each year, and all capital <br />gains, shall be added to the principal. <br />6. I n any year, the Lexington P.T.A. Scholarship Committee may vote <br />to request that all income be transferrd to principal. <br />Very truly yours, <br />- 0-U , /. �Jo, <br />Richard L. Hale, President <br />Lexington High School, Class of 1954 <br />