EXHIBIT 13
FORM OF
SUBSCRIPTION AGREEMENT
This Subscription Agreement ("Agreement") between Monument Series Fund,
Inc. ("Company"), a corporation organized under the laws of the State of
Maryland, and ___________________ (the "undersigned") (collectively, the
"Parties").
In consideration of the mutual promises set forth herein, the Parties
agree as follows:
1. The Company agrees to sell to the undersigned, and the undersigned agrees
to purchase, __________ shares of common stock of the Company ("Shares") at a
price of ten dollars ($10.00) per Share for each series of the Company in the
following amounts: __________ Shares of Washington Area Growth Fund, and
________ Shares of the Washington Area Aggressive Growth Fund, on a date to be
specified by the Company, prior to the effective date of the Company's Form
N-1A Registration Statement under the Securities Act of 1933 ("1933 Act").
2. The undersigned represents and warrants to the Company that the Shares are
being acquired solely for investment purposes and not with a view towards
resale or disposition of all or any part thereof, and that [he] has no present
plan or intention to sell or otherwise dispose of the Shares or any part
thereof.
3. The undersigned represents and warrants that [he] has such knowledge and
experience of financial and business matters to evaluate the merits and risks
of the prospective investment and to make an informed decision.
4. The undersigned acknowledges that the Shares have not been registered under
any state or federal securities laws and that, therefore, the Company is
relying on certain exemptions therein from such registration requirements,
including exemptions dependent on the intent of the undersigned in acquiring
the Shares.
5. The undersigned agrees not to sell or dispose of the Shares or any part
thereof unless registration statements with respect to such shares are then in
effect under the 1933 Act and under any applicable state securities laws or
unless the undersigned shall have delivered to the Company an opinion of
counsel acceptable to the Company, in form and substance acceptable to the
Company, that no such registration is necessary.
6. The undersigned agrees to withdraw any request to redeem any of the shares
to the extent that the Company informs the undersigned that the effect of such
redemption could have a material adverse effect on the series of the Company.
7. The Parties acknowledge that there are no agreements or arrangements
between the undersigned and any of the Company's officers, directors,
employees or its
investment adviser, or any affiliated persons thereof with respect to the
future distribution or redemption of shares.
8. The undersigned represents and warrants that the sale of the Shares will
only be made by redemption to the Company and not be a transfer to any third
party.
9. The undersigned acknowledges that [he] is fully aware that the organization
expenses of the Company, including the costs and expenses of registration of
the Shares, are being charged to the operation of the Company over a period of
five years, and that in the event the undersigned redeems any portion of these
shares prior to the end of said amortization period, the undersigned will
reimburse the Company for the pro rata share of the amortized organization
expenses (by reduction of the redemption proceeds) in the same proportion as
the number of Shares being redeemed bears to the total number of remaining
initial Shares acquired by the undersigned hereunder.
10. The undersigned acknowledges that [he] is aware that in issuing and
selling these Shares, the Company is relying upon the representations,
warranties and acknowledgments contained herein.
IN WITNESS WHEREOF, the Parties hereto have executed this agreement on this
______ day of ______________, 1997.
MONUMENT SERIES FUND, INC. [SUBSCRIBER]
BY:___________________________ ___________________________
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