Exhibit 24(b)(13)
SUBSCRIPTION AGREEMENT
▇▇▇▇ ▇▇▇▇▇▇ Investment Counsel
▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇
December 11, 1996
Brazos Mutual Funds
▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇
Gentlemen:
▇▇▇▇ ▇▇▇▇▇▇ Investment Counsel hereby agrees to purchase 10,000 shares
of beneficial interest (the "Shares") of BRAZOS MUTUAL FUNDS (the "Fund") at $10
per share for an aggregate of $100,000. Such purchase is allocated between the
Fund's two series of shares as follows: 5,000 shares of the BRAZOS/JMIC
Small/Emerging Growth Portfolio and 5,000 shares of the BRAZOS/JMIC Real Estate
Securities Portfolio. The Fund, by its acknowledgement below, acknowledges
receipt of funds in the amount of $100,000 in full payment of the Shares.
I further advise that in making this purchase, which represents the
initial capital of BRAZOS MUTUAL FUNDS, such purchase is for investment purposes
only and without any present intention of further distributing such shares or
presenting them for redemption or repurchase.
/s/▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇ ▇. ▇▇▇▇▇▇, General Partner
▇▇▇▇ ▇▇▇▇▇▇ & Associates, General Partner
▇▇▇▇ ▇▇▇▇▇▇ Investment Counsel
Attest: BRAZOS MUTUAL FUNDS
▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ By: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇
President and Treasurer
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