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5. In addition to the foregoing, the FRIENDS OF THE LIBRARY <br /> <br />hereby recognize and agree: <br /> <br /> (a) That Holt Bequest funds shall be and remain the <br />property of CAB~_RRUS and that all ~aterial items <br />purchased with Holt Bequest fun~s are and will remain the <br />property of CABARRUS; <br /> <br /> (b) To establish an account in a financial <br />institution solely for the purpose of deposit of the Holt <br />Bequest funds, and agrees that in administering this <br />account it will not be merged or mingled with the funds <br />of any other financial account of the FRIENDS OF THE <br />LIBRARY; <br /> <br /> (c) That additional donations may be made to the <br />Holt Bequest funds by groups or indi¥iduals; that these <br />donations will be placed in the ~olt account, and will <br />become the property of CABARRUS; <br /> <br /> (d) In the event that the FRIENDS O~ THE LIBRARY <br />should cease to exist or in the event that the FRIENDS OF <br />THE LIBRARY should decide that it no longer wishes to <br />serve as custodian of Holt Bequest funds, it is agreed <br />that all remaining Holt Bequest funds shall be returned <br />to CABARRUS; <br /> <br /> (e) That any proposed expenditure of Holt Bequest <br />funds must be approved by the CABARRU$ Library Board of <br />Trustees with the recommendation of the Branch Librarian <br />of the Charles A. Cannon Memorial Library - Kannapolis <br />Branch; and <br /> <br /> (f) That the Branch Librarian and the FRIENDS OF <br />THE LIBRARY will submit a set of guidelines for the <br />expenditure of Holt Bequest funds to the CABARRUS Library <br />Board of Trustees. These guidelines must be Compatible <br />with those stated in the Will of Margaret M. Holt <br />relative to the Holt Bequest. Before any expenditure can <br />be made of the Holt Bequest funds, these guidelines must <br />be approved by the Library Board of Trustees. <br /> <br />6. The FRIENDS OF THE LIBP~.RY agrees to hold CABARRUS <br /> <br />harmless from any and all liability, damages or claims, including <br /> <br />attorney's fees, that might be asserted or suffered by CABA~RUS as <br /> <br />a result of any act or omission by the FRIENDS OF THE LIBP~.RY, its <br /> <br />officers, employees, agents or representatives, arising from or <br /> <br />90"cl 'OD SFIM~{-'JS~3 O/ 2,~k'J,~Efl'-I '-IU]8OWBI4 1401",INU:D WO~,=l 6£:80 <br /> <br /> <br />