INVESTMENT AGREEMENT Exhibit l(2)
Merlin Funds Group
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▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇
This Investment Agreement is made among Merlin Funds Group, a Delaware
business trust (the "Fund"), ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, Inc. ("MPI"), distributor for
the Fund, and ▇▇▇▇▇ ▇▇▇▇▇▇, (the "Investor").
For and in consideration of the mutual agreements herein contained,
Investor hereby agrees to purchase from the Fund and the Fund agrees to sell to
Investor shares of beneficial interest ("Shares"), in Merlin US Community Bank
Stock Fund, ("Series"), a series of the fund, at the price of $10.00 dollar(s) a
share, upon the following terms and conditions:
Section 1. Investor agrees to deliver $50,000.00 dollar(s) to MPI
simultaneously with Investor's execution of this Investment Agreement. As agent
for Investor, MPI will hold this money in a segregated bank account until either
the Fund or Investor has a right under the terms of this Investment Agreement to
receive the money.
Section 2. The Fund will not issue any securities to Investor or
receive any of the proceeds of this Investment Agreement until investment
agreements identical in form to this one have been made by not more than 25
persons (which persons shall include Investor) to purchase from the Fund
securities for an aggregate net amount, which plus the Series' then net worth
will equal at least$100,000.
Section 3. Unless such aggregate net amount is paid to the Fund and
the Series has $100,000 of net worth within 90 days after the date on which the
registration statement filed under the Securities Act of 1933 with respect to
the Fund's shares becomes effective, this Investment Agreement shall become null
and void and the full amount paid in by the Investor and held in the segregated
bank account by MPI will be refunded to the Investor on demand without any
deduction.
Section 4. In the event that such aggregate net amount of cash has
been paid in and the Series has a net worth of at least $100,000 within 90 days
after such registration statement has become effective, then this Investment
Agreement shall be in full force and effect and MPI will deliver to the Fund the
full amount paid by the Investor and held in the segregated bank account.
Section 5. Investor agrees that the shares are being purchased for
investment with no present intention of reselling or redeeming said shares.
Section 6. It is understood that said aggregate net amount will be
paid in to the Fund before any investment agreements for shares will be accepted
from any persons in excess of twenty-five.
IN WITNESS WHEREOF, this Investment Agreement is entered into by the
undersigned as of the 20th day of May, 1999.
/s/ J.▇▇▇▇▇ ▇▇▇▇▇▇ for ▇▇▇▇▇ ▇▇▇▇▇▇
Investor Signature
Print Name: ▇▇▇▇▇ ▇▇▇▇▇▇
Address: c/o J. ▇▇▇▇▇ ▇▇▇▇▇▇
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▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, INC.,
distributor for Merlin Funds Group
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, President
MERLIN FUNDS GROUP, a Delaware business trust
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
▇▇▇▇▇▇ ▇▇▇▇▇▇▇, President