M. E. Rinker, Sr. Endowment #2

Support the expenses of a Landscape Architecture Faculty and/or student to document the Property and prepare a master plan for a Florida native plant collection/educational garden located there; may be used to implement the resulting master plan/maintain the Property. If the Property is sold, the new sales proceeds will be added to this endowment and utilized to advance teaching and relate to Florida native plants performed in the Department of Landscape Architecture at the College. The parties acknowledge the Donors' preference, if the Property is ever sold, that consideration be given to selling it to an organization with an interest in native plants. It is the parties' intention that the property be held during the development of the master plan and for other teaching and educational purposes. If the Foundation elects to sell the property at any time, it shall first provide a right of first refusal (on a one-time basis) to Donors' four children, Stephen M. Schutt, Kevin B. Schutt, Terry D. Schutt and Andrea Schutt Grindstaff, to purchase for a current appraised value on mutually acceptable terms. This offer to sell shall be considered made when sent by U.S. mail to: Stephen M. Schutt, 760 Edencrest Lane, Suwannee, GA 30024. This contact information may be changed only by written notice from all four children to the Foundation. The Donors' four children (or any one or two or three of them) may purchase the Property by submitting a written contract within thirty days after the date of notice. The contract shall provide for the purchase price to be determined by an appraisal by an appraiser reasonably acceptable to the Foundation. obtained at the purchaser's cost. If two, three, or four of the children want to purchase the Property, the Foundation may elect to sell it to them jointly. After the 30-day period has elapsed, the Foundation may sell the Property at any time thereafter without further obligation to offer it to the Donors' children. This agreement to offer the Property shall not be included in the deed from the Donors to the Foundation or recorded in the public records in any form. This right is non-assignable and personal to each of the four children named above and does not inure to the benefit of their spouses, heirs or assigns.

The funds will be awarded in two scholarships of $5,000 annually for an undergraduate student in the M.E. Rinker, Sr. School of Construction Management.