CHASE MEOLA MEMORIAL FUND

THE CORPORATION/ORGANIZATION IS ESTABLISHED WITHIN THE MEANING OF IRS PUBLICATION 557 SECTION 501(C)(3) ORGANIZATION OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE") OR THE CORRESPONDING SECTION OF ANY FUTURE FEDERAL TAX CODE AND SHALL BE OPERATED EXCLUSIVELY TO ESTABLISH SCHOLARSHIP FUNDS, TO PROVIDE EQUIPMENT FOR SCHOOL AND COMMUNITY ATHLETIC ENDEAVORS, AND TO PROMOTE AND CREATE PROGRAMS TO IMPROVE STUDENT SAFETY AND WELFARE. IN ADDITION, THIS CORPORATION/ORGANIZATION HAS BEEN FORMED FOR THE PURPOSE OF PERFORMING ALL THINGS INCIDENTAL TO, OR APPROPRIATE IN, THE FOREGOING SPECIFIC AND PRIMARY PURPOSES. HOWEVER, THE CORPORATION/ORGANIZATION SHALL NOT, EXCEPT TO AN INSUBSTANTIAL DEGREE, ENGAGE IN ANY ACTIVITY OR THE EXERCISE OF ANY POWERS WHICH ARE NOT IN FURTHERANCE OF ITS PRIMARY NON-PROFIT PURPOSES.