Ch. 102                          MARVIN MANDEL, Governor                               163

(3)     To act as trustee under any trust created solely for the educational
benefit of an individual or individuals, and revocable upon termination of the
purposes of the trust, by the Settlor.

(4)    To act as trustee, and to manage funds received by gift or devise as
continuing endowments, when the sole beneficiary is a specific individual or
individuals or class of individuals.

(5)    To act as trustee and to administer funds that may be received from
individuals, associations or corporations for specified educational purposes,
acceptable to the Foundation.

(6)    To establish one or more permanent endowment funds to be used for
educational scholarships or fellowships, and to administer such funds in
furtherance of the objectives of the Foundation.

(7)     To act in the capacity of advisor, counsellor and/or supervisor of
educational pursuits of beneficiaries under trusts or grants, in the event such
powers may be appended to monies received for administration.

(8)   To assist banks and lending institutions in developing and administering
student loan plans.

(9)   To administer educational and research grants received from Federal or
State Governments, from Foundations or from others.

[[(10) TO ENDORSE ANY PROMISSORY NOTE OR OBLIGATION
FOR ANY STUDENT AID LOAN AT ANY BANK OR LENDING
INSTITUTION, AND TO PROVIDE ANY CONTRACTUAL SERVICES
CONCERNING SUCH STUDENT AID LOANS FOR ANY BANK OR
LENDING INSTITUTION.

(11) TO ENTER INTO ANY CONTRACT WITH THE MARYLAND
HIGHER EDUCATION LOAN CORPORATION OR WITH ANY AGENCY
OF THE STATE OR FEDERAL GOVERNMENT TO ACT AS AN AGENT
FOR SUCH CORPORATION OR AGENCY, OR FOR THE PURPOSE OF
IMPLEMENTING STUDENT AID LOAN PROGRAMS, BY WAY OF
GUARANTEE OR OTHERWISE.]] (10) NOT WITHSTANDING ANY
OTHER STATE OR LOCAL LAW TO THE CONTRARY TO BORROW
MONEY AND ISSUE NOTES OR OTHER EVIDENCE OF
INDEBTEDNESS, OR TO ENDORSE ANY PROMISSORY NOTE OR
OBLIGATION FOR ANY STUDENT AID LOAN AT ANY BANK OR
LENDING INSTITUTION, AND_ TO PROVIDE ANY CONTRACTUAL
SERVICES CONCERNING SUCH STUDENT AID LOANS_ FOR ANY
BANK OR LENDING INSTITUTION OR TO ENTER INTO ANY
CONTRACT WITH THE MARYLAND HIGHER EDUCATION LOAN
CORPORATION OR WITH ANY AGENCY OF THE STATE OR FEDERAL
GOVERNMENT OR TO ACT AS AN AGENT FOR SUCH CORPORATION
OR AGENCY FOR THE PURPOSE OF IMPLEMENTING STUDENT AID
LOAN PROGRAMS, BY WAY OF GUARANTEE OR OTHERWISE.

Should a question of law arise with respect to the power of the Foundation to
receive and administer any grant or devise, that cannot otherwise be resolved, the
Foundation or any party of interest may petition the Circuit Court for Harford
County or other Courts having jurisdiction for instruction as to its responsibilities
in the property.