FERGUSON CHARITABLE FOUNDATION

FERGUSON CHARITABLE FOUNDATION (THE "FOUNDATION") IS ORGANIZED AND SHALL BE OPERATED FOR EXCLUSIVELY CHARITABLE, EDUCATIONAL, SCIENTIFIC, AND LITERARY PURPOSES, EACH WITHIN THE MEANING OF CODE SECTION 501(C)(3). THE FOUNDATION'S INITIAL ACTIVITIES SHALL INCLUDE, BUT SHALL NOT BE LIMITED TO, (A) SUPPORTING THE CREATION AND OPERATION OF AN EDUCATIONAL PROGRAM AND CURRICULUM IN CERTAIN COLLEGES AND UNIVERSITY ("PARTICIPATING COLLEGES") TO ENCOURAGE DIVERSE STUDENTS TO PURSUE MEANINGFUL CAREERS IN THE REAL ESTATE INDUSTRY; (B) PROVIDING SCHOLARSHIPS TO DIVERSE STUDENTS AT PARTICIPATING COLLEGES ENROLLED IN A REAL ESTATE CENTER FOR LEADERSHIP EXCELLENCE TO SUPPORT THE RETENTION OF STUDENTS PARTICIPATING IN THE PROGRAM; AND EQUIPPING DIVERSE STUDENTS TO ENTER THE REAL ESTATE INDUSTRY THROUGH INSTRUCTION, MENTORSHIP, AND ON-THE-JOB TRAINING.