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111 <br />Mr. Alan Field, Chairman <br />Trustees of the Public Trust <br />Town of Lexington <br />1625 Massachusetts Ave. <br />Lexington, MA 02420 <br />Dear Mr. Field, <br />This letter is to set forth the terms under which the Trustees of the Public trusts agree to <br />hold the trust fund to be known as the Lexington Police Betterment Association <br />Scholarship Fund, <br />The Trustees will hold and invest the fund as part of the Endowment Fund <br />administered by them for the benefit of the Town of Lexington, <br />2. Three - quarters of the. net incomes earned each year b� the fund shall be paid out in <br />scholarship(s) awarded by the Lexington P.T.A. Council Scholarship Committee <br />as long as such cc>mmittcc exists, rf the . Uxington PTA, Council Scholarship <br />Co mmit tee ceases to exist, the income so earned may be awarded in scholarships <br />designated by the Lexington high School Scholarship Coordinator, <br />3. Scholarships are to be need based, <br />4. One quarter of the net income earned each year, and'all capital gains, shall be <br />added to principal. <br />S, Additional donations may be directed to either or both principal or income at any <br />time. <br />J G. Lattiff <br />