The Bartram Memorial Trust (Southrepps)

(1) SUBJECT TO PAYMENT OF THE EXPENSES AFORESAID THE MANAGING TRUSTEES SHALL APPLY INCOME OF THE CHARITY FOR FURTHERING THE RELIGIOUS AND OTHER CHARITABLE WORK OF THE CHURCH OF ENGLAND IN THE AREA OF BENEFIT WITH A PREFERENCE FOR THE ECCLESIASTICAL PARISH OF ST JAMES, SOUTHREPPS.(2) IF AND INSOFAR AS INCOME IN ANY YEAR IS NOT APPLIED AS AFORESAID, THE MANAGING TRUSTEES MAY APPLY THE SAME FOR SUCH OTHER RELIGIOUS AND OTHER CHARITABLE PURPOSES OF THE CHURCH OF ENGLAND AS THEY SHALL DECIDE.(3) IF IN ANY YEAR INCOME IS NOT APPLIED IN MANNER AFORESAID THE SAME MAY BE RETAINED AND INVESTED IN TRUST FOR THE CHARITY: PROVIDED THAT SUCH MONIES OR THE INVESTMENTS REPRESENTING THE SAME MAY AT ANY TIME BE APPLIED AS AFORESAID.