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        </BooksInCareOfUSAddress>
        <ForeignBank>0</ForeignBank>
      </StatementsRegardingActivities>
      <StatementsRegardingActy4720>
        <SaleOrExchangeWithDsqflyPerson>0</SaleOrExchangeWithDsqflyPerson>
        <BorrowOrLendWithDsqflyPerson>0</BorrowOrLendWithDsqflyPerson>
        <FurnishedGoodsWithDsqflyPerson>0</FurnishedGoodsWithDsqflyPerson>
        <PayCompensationToDsqflyPerson>1</PayCompensationToDsqflyPerson>
        <TransferAssetsToDsqflyPerson>0</TransferAssetsToDsqflyPerson>
        <PaymentToGovernmentOffical>0</PaymentToGovernmentOffical>
        <ActsFailToQualifyAsExceptions>0</ActsFailToQualifyAsExceptions>
        <UncorrectedPriorActs>0</UncorrectedPriorActs>
        <UndistributedIncomePriorYears>0</UndistributedIncomePriorYears>
        <BusinessHoldings>0</BusinessHoldings>
        <JeopardyInvestments>0</JeopardyInvestments>
        <UncorrectedJeopardyInvestments>0</UncorrectedJeopardyInvestments>
        <InfluenceLegislation>0</InfluenceLegislation>
        <InfluenceElection>0</InfluenceElection>
        <GrantsToIndividuals>1</GrantsToIndividuals>
        <GrantsToOrganizations>0</GrantsToOrganizations>
        <NoncharitablePurpose>0</NoncharitablePurpose>
        <TrFailToQualifyAsExceptions>0</TrFailToQualifyAsExceptions>
        <RcvFundsToPayPrsnlBnftContract>0</RcvFundsToPayPrsnlBnftContract>
        <PayPremiumsPrsnlBnftContract>0</PayPremiumsPrsnlBnftContract>
        <ProhibitedTaxShelterTransactn>0</ProhibitedTaxShelterTransactn>
      </StatementsRegardingActy4720>
      <OfcrDirTrusteesKeyEmployeeInfo>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>FRANCES P LONDON</PersonName>
          <USAddress>
            <AddressLine1>3222 BERMUDA VILLAGE DRIVE</AddressLine1>
            <City>ADVANCE</City>
            <State>NC</State>
            <ZIPCode>27006</ZIPCode>
          </USAddress>
          <Title>TRUSTEE</Title>
          <AvgHoursPerWkDevotedToPosition>0.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>DAVID D DAHL</PersonName>
          <USAddress>
            <AddressLine1>POST OFFICE BOX 20389</AddressLine1>
            <City>RALEIGH</City>
            <State>NC</State>
            <ZIPCode>276190389</ZIPCode>
          </USAddress>
          <Title>TRUSTEE</Title>
          <AvgHoursPerWkDevotedToPosition>0.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>SANDRA MARTIN CLARK</PersonName>
          <USAddress>
            <AddressLine1>POST OFFICE BOX 20389</AddressLine1>
            <City>RALEIGH</City>
            <State>NC</State>
            <ZIPCode>276190389</ZIPCode>
          </USAddress>
          <Title>TRUSTEE</Title>
          <AvgHoursPerWkDevotedToPosition>0.00</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <CompOfHighestPaidEmplNONE>NONE</CompOfHighestPaidEmplNONE>
        <TotNumberOfOthEmplPaidOver50k>0</TotNumberOfOthEmplPaidOver50k>
        <CompOfHghstPaidCntrctNONE>NONE</CompOfHghstPaidCntrctNONE>
        <TotNumberOfCntrctPaidOver50k>0</TotNumberOfCntrctPaidOver50k>
      </OfcrDirTrusteesKeyEmployeeInfo>
      <SumOfProgramRelatedInvestments>
        <Total>0</Total>
      </SumOfProgramRelatedInvestments>
      <MinimumInvestmentReturn>
        <AvgMonthlyFMVOfSecurities>5561767</AvgMonthlyFMVOfSecurities>
        <AvgMonthlyCashBalances>174515</AvgMonthlyCashBalances>
        <FMVAllOtherNoncharitableAssets>0</FMVAllOtherNoncharitableAssets>
        <TotalFMVOfUnusedAssets>5736282</TotalFMVOfUnusedAssets>
        <ReductionClaimed>0</ReductionClaimed>
        <AcquisitionIndebtedness>0</AcquisitionIndebtedness>
        <AdjTotalFMVOfUnusedAssets>5736282</AdjTotalFMVOfUnusedAssets>
        <CashDeemedCharitable>86044</CashDeemedCharitable>
        <NetNoncharitableAssets>5650238</NetNoncharitableAssets>
        <MinimumInvestmentReturn>282512</MinimumInvestmentReturn>
      </MinimumInvestmentReturn>
      <DistributableAmount>
        <MinimumInvestmentReturn>282512</MinimumInvestmentReturn>
        <TaxBasedOnInvestmentIncome>3032</TaxBasedOnInvestmentIncome>
        <TotalTax>3032</TotalTax>
        <DistributableAmountBeforeAdj>279480</DistributableAmountBeforeAdj>
        <RecoveriesQlfyDistributions>0</RecoveriesQlfyDistributions>
        <DistributableAmountBeforeDed>279480</DistributableAmountBeforeDed>
        <DeductionFrDistributableAmount>0</DeductionFrDistributableAmount>
        <DistributableAmountAsAdjusted>279480</DistributableAmountAsAdjusted>
      </DistributableAmount>
      <QualifyingDistributions>
        <ExpensesAndContributions>319807</ExpensesAndContributions>
        <ProgramRelatedInvestmentsTotal>0</ProgramRelatedInvestmentsTotal>
        <QualifyingDistributions>319807</QualifyingDistributions>
        <OnePctSect4940eOrgNetInvstIncm>3032</OnePctSect4940eOrgNetInvstIncm>
        <AdjQualifyingDistributions>316775</AdjQualifyingDistributions>
      </QualifyingDistributions>
      <UndistributedIncome>
        <DistributableAmountAsAdjusted>279480</DistributableAmountAsAdjusted>
        <UndistributedIncomePriorYear>0</UndistributedIncomePriorYear>
        <TotalForPriorYears>0</TotalForPriorYears>
        <ExcessDistriCarryoverYear3>27668</ExcessDistriCarryoverYear3>
        <ExcessDistriCarryoverYear1>67318</ExcessDistriCarryoverYear1>
        <TotalExcessDistriCarryover>94986</TotalExcessDistriCarryover>
        <QualifyingDistributions>319807</QualifyingDistributions>
        <AppliedToYear1>0</AppliedToYear1>
        <AppliedToPriorYears>0</AppliedToPriorYears>
        <TreatedAsDistriFromCorpus>0</TreatedAsDistriFromCorpus>
        <AppliedToCurrentYear>279480</AppliedToCurrentYear>
        <RemainingDistriFromCorpus>40327</RemainingDistriFromCorpus>
        <ExcessDistriCyovAppCYCorpus>0</ExcessDistriCyovAppCYCorpus>
        <ExcessDistriCyovAppliedCY>0</ExcessDistriCyovAppliedCY>
        <TotalCorpus>135313</TotalCorpus>
        <PriorYearUndistributedIncome>0</PriorYearUndistributedIncome>
        <PriorYearDeficiencyOrTax>0</PriorYearDeficiencyOrTax>
        <TaxableAmount1>0</TaxableAmount1>
        <TaxableAmount2>0</TaxableAmount2>
        <UndistributedIncomeCY>0</UndistributedIncomeCY>
        <DistriFromCorpus170b1EOr4942g3>0</DistriFromCorpus170b1EOr4942g3>
        <ExcessDistriCyovFromYear5>0</ExcessDistriCyovFromYear5>
        <ExcessDistriCyovToNextYear>135313</ExcessDistriCyovToNextYear>
        <ExcessFromYear3>27668</ExcessFromYear3>
        <ExcessFromYear1>67318</ExcessFromYear1>
        <ExcessFromCurrentYear>40327</ExcessFromCurrentYear>
      </UndistributedIncome>
      <SupplementaryInformation>
        <ContributingManager>FRANCES P LONDON</ContributingManager>
        <AppicationSubmissionInfo>
          <RecipientName>DAVID D DAHL</RecipientName>
          <RecipientUSAddress>
            <AddressLine1>POST OFFICE BOX 20389</AddressLine1>
            <City>RALEIGH</City>
            <State>NC</State>
            <ZIPCode>27619</ZIPCode>
          </RecipientUSAddress>
          <RecipientPhoneNumber>9197878880</RecipientPhoneNumber>
          <FormAndInfoAndMaterials>SEE COPY OF ATTACHED APPLICATION.</FormAndInfoAndMaterials>
          <SubmissionDeadlines>SPRING OF HIGH SCHOOL SENIOR'S ACADEMIC YEAR.</SubmissionDeadlines>
          <RestrictionsOnAwards>SEE ATTACHED "LONDON SCHOLARSHIP GUIDELINES".</RestrictionsOnAwards>
        </AppicationSubmissionInfo>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ABBY WRENN ANDERSON</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>POST OFFICE BOX 492</AddressLine1>
            <City>ENGLEHARD</City>
            <State>NC</State>
            <ZIPCode>27824</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - EAST CAROLINA UNIVERSITY</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ALEXANDER ROBERT WALTERS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>400 GUEST LANE</AddressLine1>
            <City>HAYESVILLE</City>
            <State>NC</State>
            <ZIPCode>28904</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - NATIONAL OUTDOOR LEADERSHIP SCHOOL; UNC CHAPEL HILL</PurposeOfGrantOrContribution>
          <Amount>11250</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ALLAN JAVON EVANS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>2088 MCNEIL FARM ROAD</AddressLine1>
            <City>RAEFORD</City>
            <State>NC</State>
            <ZIPCode>28376</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - NORTH CAROLINA STATE UNIVERSITY</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ALONZO MASON MARTIN</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>26 STONEWALL DRIVE</AddressLine1>
            <City>ROANOKE RAPIDS</City>
            <State>NC</State>
            <ZIPCode>27870</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - NORTH CAROLINA STATE UNIVERSITY</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>AMANDA JANE COLLINS</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>71 GROUND SQUIRREL PLACE</AddressLine1>
            <City>ROBBINSVILLE</City>
            <State>NC</State>
            <ZIPCode>28771</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - WESTERN CAROLINA UNIVERSITY</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ASHLEY NICOLE JARRELL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>3233 SAM POWELL DAIRY ROAD</AddressLine1>
            <City>ROANOKE RAPIDS</City>
            <State>NC</State>
            <ZIPCode>27870</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - NORTH CAROLINA A&amp;T STATE UNIVERSITY</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>BRITTANY NICOLE TANN</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>450 BIG MARY ROAD</AddressLine1>
            <City>WINTON</City>
            <State>NC</State>
            <ZIPCode>27986</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - UNIVERISTY OF NORTH CAROLINA, CHAPEL H</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>BRUCE WALTER RIDDELL</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>246 QUEBEC ROAD</AddressLine1>
            <City>HARRELLSVILLE</City>
            <State>NC</State>
            <ZIPCode>27942</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - NORTH CAROLINA STATE UNIVERSITY</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CALLIE ELIZABETH GUTHRIE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>688 OCEAN HIGHWAY SOUTH</AddressLine1>
            <City>HERTFORD</City>
            <State>NC</State>
            <ZIPCode>27944</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - CAMPBELL UNIVERSITY</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CAROLINE BAILEY CRIDER</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1801 FONTANA ROAD</AddressLine1>
            <City>BRYSON CITY</City>
            <State>NC</State>
            <ZIPCode>28713</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - UNIVERSITY OF THE SOUTH</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CHRISTIAN MICHAEL LILLEY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>249 NC HIGHWAY 305</AddressLine1>
            <City>WINDSOR</City>
            <State>NC</State>
            <ZIPCode>27983</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - NORTH CAROLINA STATE UNIVERSITY</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>CRYSTAL NICOLE MARTIN</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>610 KERR LAKE COLE BRIDGE ROAD</AddressLine1>
            <City>NORLINA</City>
            <State>NC</State>
            <ZIPCode>27563</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - NORTH CAROLINA STATE UNIVERSITY</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>DARRILYN SARANDA FISHER</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>326 GREENTREE DRIVE</AddressLine1>
            <City>RAEFORD</City>
            <State>NC</State>
            <ZIPCode>28376</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - UNIVERISTY OF NORTH CAROLINA, CHAPEL H</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>DEANNA ASHLEY TENNEY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1529 NC HIGHWAY 305</AddressLine1>
            <City>AULANDER</City>
            <State>NC</State>
            <ZIPCode>27805</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - UNIVERISTY OF NORTH CAROLINA, CHAPEL H</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>DEVIN RAY WORLEY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>151 EULON LOOP</AddressLine1>
            <City>RAEFORD</City>
            <State>NC</State>
            <ZIPCode>28376</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - NORTH CAROLINA STATE UNIVERSITY</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ERIC SCOTT ROUNTREE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>414 WOODVILLE ROAD</AddressLine1>
            <City>HERTFORD</City>
            <State>NC</State>
            <ZIPCode>27944</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - NORTH CAROLINA STATE UNIVERSITY</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>ERIN MARIA BENNETT</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>POST OFFICE BOX 1607</AddressLine1>
            <City>ROBBINSVILLE</City>
            <State>NC</State>
            <ZIPCode>28771</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - NORTH CAROLINA STATE UNIVERSITY</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>HANNAH IVA ECK</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>2418 LOWER TUSKEEGEE ROAD</AddressLine1>
            <City>ROBBINSVILLE</City>
            <State>NC</State>
            <ZIPCode>28771</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - UNIVERISTY OF NORTH CAROLINA, CHAPEL H</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>HARRIET PAIGE LEWTER</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>203 LEWTER FARM ROAD</AddressLine1>
            <City>AHOSKIE</City>
            <State>NC</State>
            <ZIPCode>27910</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - NORTH CAROLINA A&amp;T STATE UNIVERSITY</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>HENRY LAMAR GREENE</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>1984 US HIGHWAY 301 NORTH</AddressLine1>
            <City>GARYSBURG</City>
            <State>NC</State>
            <ZIPCode>27831</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - UNIVERISTY OF NORTH CAROLINA, CHAPEL H</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>JACLYN FAITH WINSLOW</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>129 DEERVIEW DRIVE</AddressLine1>
            <City>HERTFORD</City>
            <State>NC</State>
            <ZIPCode>27944</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - ASBURY COLLEGE</PurposeOfGrantOrContribution>
          <Amount>375</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>JAMES O'NEIL RAY</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>134 ROSE STREET</AddressLine1>
            <City>RAEFORD</City>
            <State>NC</State>
            <ZIPCode>28376</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - UNIVERISTY OF NORTH CAROLINA, CHAPEL H</PurposeOfGrantOrContribution>
          <Amount>11250</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>JENNA LEIGH WOOD</BusinessNameLine1>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1>2062 RIVERSHORE ROAD</AddressLine1>
            <City>ELIZABETH CITY</City>
            <State>NC</State>
            <ZIPCode>27909</ZIPCode>
          </RecipientUSAddress>
          <RecipientRelationship>NONE</RecipientRelationship>
          <RecipientFoundationStatus>INDIVIDUAL</RecipientFoundationStatus>
          <PurposeOfGrantOrContribution>SCHOLARSHIP - UNIVERISTY OF NORTH CAROLINA, CHAPEL H</PurposeOfGrantOrContribution>
          <Amount>7500</Amount>
        </GrantOrContriPaidDuringYear>
        <GrantOrContriPaidDuringYear>
          <RecipientBusinessName>
            <BusinessNameLine1>JENNY REBECCA BURTON</BusinessNameLine1>
          </RecipientBusinessName>
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        <EOYFMV>282430</EOYFMV>
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      <InvestmentsCorpStock>
        <NameOfStock>PROGRESS ENERGY INC</NameOfStock>
        <EOYBookValue>99549</EOYBookValue>
        <EOYFMV>86960</EOYFMV>
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      <InvestmentsCorpStock>
        <NameOfStock>UNITED TECHS CORP</NameOfStock>
        <EOYBookValue>248622</EOYBookValue>
        <EOYFMV>314880</EOYFMV>
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      <InvestmentsCorpStock>
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        <EOYFMV>123402</EOYFMV>
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        <BookValue>93118</BookValue>
        <EOYFMV>74656</EOYFMV>
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      <InvestmentsOther>
        <CategoryOrItem>ENERGY TRANSFER PARTNERS LP</CategoryOrItem>
        <ListedAtCostOrFMV>FMV</ListedAtCostOrFMV>
        <BookValue>92406</BookValue>
        <EOYFMV>108822</EOYFMV>
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      <InvestmentsOther>
        <CategoryOrItem>KINDER MORGAN ENERGY PARTNERS LP</CategoryOrItem>
        <ListedAtCostOrFMV>FMV</ListedAtCostOrFMV>
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        <EOYFMV>105390</EOYFMV>
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      <InvestmentsOther>
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        <EOYFMV>100464</EOYFMV>
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      <LegalFees>
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        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
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    </LegalFeesSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpenses>
        <Description>WACHOVIA BANK NA BANK CHARGES</Description>
        <RevenueAndExpensesPerBooks>10</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>10</NetInvestmentIncome>
        <DisbursementsCharitablePrps>0</DisbursementsCharitablePrps>
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      <OtherExpenses>
        <Description>CULTURAL EVENT FOR SCHOLARS</Description>
        <RevenueAndExpensesPerBooks>682</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>682</DisbursementsCharitablePrps>
      </OtherExpenses>
      <OtherExpenses>
        <Description>PRIOR YEARS' CONTRIBUTION CHECKS NOT CASHED</Description>
        <RevenueAndExpensesPerBooks>-18750</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <DisbursementsCharitablePrps>-18750</DisbursementsCharitablePrps>
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    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc2001500001">
      <OtherIncome>
        <Description>REFUNDS FROM MERRILL LYNCH</Description>
        <RevenueAndExpensesPerBooks>153</RevenueAndExpensesPerBooks>
        <NetInvestmentIncome>0</NetInvestmentIncome>
        <AdjustedNetIncome>153</AdjustedNetIncome>
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