Ghalardi Income Tax Education Foundation - Page 6

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                  IF ANY CERTIFICATE holder of this trust shall                       
                  contest in any court the validity of this trust                     
                  or in any manner [sic] to nullify or set aside                      
                  this trust or any of its provisions, then the                       
                  interest of that certificate holder shall cease                     
                  and that person's interest shall be divided up                      
                  among the other certificate holders pro-rata.                       
                  The trustees are authorized to defend, at the                       
                  expense of the trust, any kind of contest or                        
                  attack by a certificate holder or any other                         
                  person against the trust or against any of its                      
                  provisions.                                                         
                  THE NAME OF EACH certificate holder of this trust                   
                  must be recorded by the trust record keeper in                      
                  the trust records.  Any third party may rely                        
                  upon that certified list (Attachment "C") in all                    
                  transactions with the trustees or in behalf of                      
                  the trust, and that list is intended to represent                   
                  a clear and definite means for the ascertainment                    
                  of the certificate holders of this trust.                           

             According to Schedule C, CERTIFIED LIST OF CERTIFICATE                   
             HOLDERS, attached to the declaration of trust, all                       
             certificates of interest in Ghalardi are owned by                        
             Isaac Hull Holding Co.  The record of this case does                     
             not describe this entity or state who owns this entity.                  
                  The declaration of trust sets forth the following                   
             standard governing distributions by the trust:                           

                        ASCERTAINABLE STANDARD FOR DISTRIBUTION                       
                  THE TRUSTEES may accumulate for or distribute                       
                  to any certificate holder such portions of                          
                  the income or corpus of the trust as the                            
                  trustees deem necessary for the support, care,                      
                  maintenance, education, medical expenses or                         
                  emergencies of the certificate holders.  No                         
                  distribution from the trust shall be made                           
                  except in conformity with this external                             




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Last modified: May 25, 2011