Caleb Lovejoy's Almshouse Charity

THE CHARITY'S OBJECTS ("OBJECTS") ARE SPECIFICALLY RESTRICTED TO THE FOLLOWING:A) FIRST, IN PAYING THE COST OF REPAIRS AND INSURANCE, AND ALL OTHER CHARGES AND OUTGOINGS PAYABLE IN RESPECT OF THE PROPERTY OF THE CHARITY, AND ALL THE PROPER COSTS, CHARGES, AND EXPENSES OF AND INCIDENTAL TO THE ADMINISTRATION AND MANAGEMENT OF THE CHARITY.B) SECONDLY, IN PAYING TO THE RECTOR OF THE PARISH CHURCH OF ST. NICOLAS, GUILDFORD, NOTWITHSTANDING THAT HE MAY BE A TRUSTEE OF THE CHARITY, FOR PREACHING A SERMON COMMEMORATING THE ANNIVERSARY OF THE FUNERAL OF THE FOUNDER OF THE CHARITY, OR IF ANY OTHER MINISTER PREACHES THE SAID SERMON, IN PAYING SUCH PREACHER AND THE SAID RECTOR ACCORDINGLY.C)THIRDLY, IN THE MAINTENANCE OF ALMSHOUSES FOR POOR PERSONS AS MORE SPECIFICALLY PROVIDED FOR IN SCHEDULE 1 OF THE ATTACHED ARTICLES OF ASSOCIATION.D) FOURTHLY, THE RESIDUE OF THE INCOME OF THE CHARITY SHALL BE APPLIED BY THE TRUSTEES IN SUCH WAYS AS THEY THINK FIT IN PROMOTING THE EDUCATION OF PERSONS RESIDENT IN THE AREA OF THE ANCIENT PARISH OF ST. NICOLAS, GUILDFORD, WHO ARE IN NEED OF ASSISTANCE.