Hayward Memorial Testamentary Trust

“Hayward memorial testamentary trust was created upon the death of orlan a. Hayward on november 21, 1954, under the last will and testament of orlan a. Hayward dated march 19, 1949. No changes can be made to organizational documents without court approval. Pursuant to the order of the minnehaha county circuit court, there are five trustees of the trust, one of which is the first national bank in sioux falls, one of whom is appointed by children's home society, f/k/a south dakota children's home society, one of whom is appointed by university of sioux falls, f/k/a sioux falls baptist college, one of whom is appointed by children's care hospital & school, d/b/a lifescape, f/k/a crippled children's hospital and school, and sanford health, f/k/a sioux valley hospital association. A meeting of the co-trustees is offered annually and may be waived if no co-trustee indicates a desire to hold such a meeting. Co-trustee's receive annual reports. Co-trustees have delegated investment discretion to the first national bank in sioux falls, however, this delegation may be revoked at any time.”

“Each of the four organizations listed in the narrative for part vi, section a, line 1 appoint one trustee to the board of trustees.”

“Changes may not be made to the governance documents without court approval.”

“There is no committee with the authority to act on behalf of the governing body.”

“The draft of form 990 is provided to the first national bank in sioux falls for review before filing.”

“The trust is a court-approved trust with annual reports to the second judicial circuit court in sioux falls, sd. Trust documents are not available to the public.”