EXHIBIT 99.13
FORM OF PURCHASE AGREEMENT
PURCHASE AGREEMENT
ND Tax-Free Fund, Inc. (the "Fund"), a corporation organized under the laws
of the State of North Dakota which proposes to register under the Investment
Company Act of 1940, and ND Holdings, Inc. ("Holdings"), a corporation organized
under the laws of the State of North Dakota which is the Fund's sponsor, hereby
agree as follows:
1. The Fund offers Holdings and Holdings hereby purchases 10,000 shares of
the Fund, par value $.001 (the "Shares"), for $10 per Share for the aggregate
purchase price of $100,000.
2. Holdings represents and warrants to the Fund that the Shares are being
acquired for investment purposes without any present intention of redeeming or
reselling them.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement this
_th day of October, 1988.
ND HOLDINGS, INC.
By:
Xxxxxx X. Xxxxxxx
President
ATTEST:
ND TAX-FREE FUND, INC.
By:
Xxxxxx X. Xxxxxxx
President
ATTEST:
