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EXHIBIT 13.(b)
PURCHASE AGREEMENT
LIQUIDITY FUND FOR THRIFTS, INC. (the "Fund"), an open-end
diversified management investment company, and the undersigned depository
institution ("Purchaser"), intending to be legally bound, hereby agree as
follows:
1. In order to provide the Mortgage Securities
Performance Portfolio with its initial capital, the Fund hereby sells to
Purchaser and Purchaser purchases 20,000 shares of Common Stock of the Mortgage
Securities Performance Portfolio at a price of $10.00 per share (the "Shares").
The Fund hereby acknowledges receipt from Purchaser of funds in the amount of
$200,000 in full payment for the Shares.
2. Purchaser represents and warrants to the Fund that
the Shares are being acquired for investment and not with a view to
distribution thereof, that Purchaser has no present intention to redeem or
dispose of any of the Shares, and that Purchaser is a "depository institution"
as defined in Regulation D of the Board of Governors of the Federal Reserve
System and may purchase any of the Portfolio's Eligible Investments without
limitation as to percentage of assets.
IN WITNESS WHEREOF, the parties have executed this agreement
as of the 2nd day of November, 1983.
LIQUIDITY FUND FOR THRIFTS, INC.
By
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Xxxxxx X. Xxxx, President
[Name of Institution]
By
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Name:
Title:
