LETTER OF INVESTMENT INTENT
This Agreement is made as of the 31st day of July, 2000 between Xxxx Xxxxxxx
Advisers, Inc., a Delaware corporation ("Purchaser"), and Xxxx Xxxxxxx Equity
Trust, a Massachusetts business trust (the "Trust"), on behalf of Xxxx Xxxxxxx
Growth Trends Fund (the "Fund"), a series of the Trust.
WHEREAS, the Fund wishes to sell to Purchaser, and Purchaser wishes to purchase
from the Fund, $100,000 shares of beneficial interest of the Fund at a purchase
price of $10.00 per share (collectively, the "Shares"); and
WHEREAS, Purchaser is purchasing the Shares for the purpose of providing the
initial capitalization of the Trust as required by the Investment Company Act of
1940;
NOW, THEREFORE, the parties hereto agree as follows:
1. Simultaneously with the execution of this Agreement, Purchaser is
delivering to the Fund a check in the amount of $100,000 in full
payment for the Shares.
2. Purchaser agrees that it is purchasing the Shares for investment and
has no present intention of redeeming or reselling the Shares.
3. Purchaser further agrees that it may not withdraw the Shares from the
Fund at a rate, which at any time during the Fund's first year of
operations, exceeds in the aggregate $8,333.34 per month.
Executed as of the date first set forth above.
Xxxx Xxxxxxx Advisers, Inc.
By: __________________________________
Its: President
Xxxx Xxxxxxx Declaration Trust
--on behalf of Xxxx Xxxxxxx Growth Trends Fund
By: __________________________________
Its: President
