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EXHIBIT 99.B13
XXXXXXX XXXXX READY RESERVES, INC.
SUBSCRIPTION AGREEMENT
1. Share Subscription. The undersigned hereby agrees to purchase
from Xxxxxxx Xxxxx Ready Reserves, Inc. ("Fund"), which is a series type mutual
fund currently having one series, the Money Market Portfolio ("Portfolio"),
100,000 shares (par value of $0.001 per share) of the Portfolio ("Shares") at a
purchase price of $1.00 per share, on the terms and conditions set forth herein
and in the Preliminary Prospectus described below. The undersigned hereby
tenders $100,000 for the purchase of the Shares.
The undersigned understands that the Fund has filed a Registration
Statement (No. 33-17463) on Form N-1A with the Securities and Exchange
Commission, which contains the Preliminary Prospectus describing the Fund and
the Shares. By its signature hereto, the undersigned hereby acknowledges
receipt of a copy of the Preliminary Prospectus.
The undersigned recognizes that the Fund will not be fully operational
until such time as it commences the offering of its shares. Accordingly, a
number of features of the Fund described in the Preliminary Prospectus,
including, without limitation, the declaration and payment of dividends and
redemptions of shares upon request of shareholders, are not, in fact, in
existence at the present time and will not be instituted until the Fund's
Registration Statement on Form N-1A is declared effective.
2. Representations and Warranties. The undersigned hereby
represents and warrants as follows:
a. It is aware that no federal or state agency has made any
findings or determination as to the fairness for investment, nor any
recommendations or endorsement, of the Shares;
b. It has such knowledge and experience of financial and
business matters as will enable it to utilize the information made
available to it, in connection with the offering of the Shares, to
evaluate the merits and risks of the prospective investment and to make
an informed investment decision;
c. It recognizes that the Fund has only recently been
organized and has no financial or operating history and, further, that
investment in the Fund involves certain risks, and it has taken full
cognizance of and understands all of the risks related to the purchase
of the Shares, and it acknowledges that it has suitable financial
resources and anticipated income to bear the economic risk of such an
investment;
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d. It is purchasing the Shares for its own account, for
investment, and not with any intention of redemption, distribution, or
resale of the Shares, either in whole or in part;
e. It will not sell the Shares purchased by it without
registration of the Shares under the Securities Act of 1933 or
exemption therefrom;
f. It has been furnished with, and has carefully read, this
Agreement and the Preliminary Prospectus and such material documents
relating to the Fund as it has requested and as have been provided to
it by the Fund; and
g. It has also had the opportunity to ask questions of, and
receive answers from, the Fund concerning the Fund and the terms of the
offering.
IN WITNESS WHEREOF, the undersigned has executed this instrument as of
November 19, 1987.
XXXXXXX XXXXX & COMPANY
By: /s/ Xxxxx X. Xxxxxx, Xx.
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Partner
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