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EXHIBIT 13
SUBSCRIPTION AGREEMENT
Bremer Investment Funds, Inc.
P. X. Xxx 0000
Xx. Xxxxx, Xxxxxxxxx 00000
Gentlemen:
The undesigned hereby subscribes for one share of Class A Common Stock
(the Growth Stock Fund) and 9,999 shares of Class B Common Stock (the Bond
Fund), $0.0001 par value per share (the "Shares"), of Bremer Investment Funds,
Inc. (the "Fund"), and agrees to pay to the Fund the sum of $100,000 in cash.
It is understood that, upon acceptance hereof by the Fund, certificates
representing the Shares subscribed for shall be issued to the undersigned and
such Shares shall be deemed to be fully paid and nonassessable.
The undersigned agrees that it is purchasing the Shares for investment
only, with no intention of resale. The undersigned acknowledges that the
Shares have not been registered under the Securities Act of 1933, as amended,
and that the certificates representing the Shares will bear appropriate
restrictive legends.
Dated and effective as of this 17th day of December, 1996.
FIRST AMERICAN TRUST COMPANY
OF MINNESOTA
By: /s/ Xxxxxxx X. XxXxxxx
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Xxxxxxx X. XxXxxxx
Vice President/Chief Financial
Officer
The foregoing subscription is hereby accepted effective as of 17th day of
December, 1996.
BREMER INVESTMENT FUNDS, INC.
By: /s/ Xxxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxxxx
President