University of Virginia Library

MONROE & LEMANN Attorneys and Counsellors at Law Whitney Building NEW ORLEANS 70130 April 12, 1965 #3849-D-19-A

Mr. Lester E. Junge Trust Officer Whitney National Bank New Orleans, Louisiana

Re: Custodianship Mrs. Mildred Saffold Vincent, Usufructuary, et al - Tulane University, University of Virginia and Trinity Church, Naked Owners

Dear Mr. Junge:

Contemporaneously with the execution of this letter the undersigned have executed an agreement which extends and brings down to date the agreement on June 7, 1956 covering the handling of the securities in the above account.

We now supplement that agreement as follows:

a) Mr. Darwin Fenner and Mr. Lee Murphy, Jr. are constituted hereafter as the securities committee. The Securities Committee will make all recommendations thereto with respect to the portfolio. Upon receipt of these recommendations, you will circulate them among the parties hereto and upon approval of all parties, you will proceed to carry out these recommendations. All executions are to be handled through the firms of Merrill, Lynch, Pierce, Fenner & Smith and Ladd Dinkins & Company.

b) Whenever municipal bonds mature or are called, the Securities Committee is authorized without further authorization to reinvest proceeds thereof in municipal bonds having a rating of Moody's "A" qualification or better with maturities extending not longer than 20 years from the date of purchase.

c) Whenever you receive either rights, subscriptions, warrants or fractional shares in connection with any securities in your portfolio, you are authorized to deal with said right, subscriptions, warrants or fractional shares on written instructions of the Securities Committee without any written authorization from the undersigned.

In connection with (b) and (c) above, whenever any action is taken you will notify all of the undersigned in writing promptly.

APPROVED

Tulane University of Louisiana

Darwin S. Fenner

Trinity Church

Respectively submitted,

For Succession Hugh E. Vincent Mrs. Mildred Saffold Vincent, Usuf.

Mrs. Mildred Saffold Vincent

University of Virginia

Judge Wayne G. Borah