Common use of Deductions and Distributions Clause in Contracts

Deductions and Distributions. (a) The Trustee, as of the First Settlement Date shall advance from its own funds and shall pay to the Unitholders of a Trust then of record the amount of interest accrued on the Treasury Obligations deposited in such Trust. The Trustee shall be entitled to reimbursement for such advancement from interest received by the respective Trust before any further distributions shall be made from the Income Account to Unitholders of the Trust. The Trustee shall also advance from its own funds and pay the appropriate persons the amount of any interest which accrues on any "when, as and if issued" or "delayed delivery" Treasury Obligations deposited in a Trust from the First Settlement Date to the respective dates of delivery to the Trust of any such Treasury Obligations. Subsequent distributions shall be made as hereinafter provided. Subsequent distributions of funds from the Income Account of a Trust shall be made on the applicable Record Dates of a Trust as described herein. On or immediately after the twenty-fifth day of each month, the Trustee shall satisfy itself as to the adequacy of the Reserve Account, making any further credits thereto as may appear appropriate in accordance with Section 3.04 and shall then with respect to each Trust:" 13. Section 3.05(b)(i) of the Standard Terms and Conditions of Trust shall be replaced in its entirety with the following: "On each Distribution Date, the Trustee shall distribute to each Unitholder of record at the close of business on the preceding Record Date an amount per Unit equal to such Unitholder's Income Distribution (as defined below) computed as of the close of business on the Record Date immediately preceding such Distribution Date. On each Distribution Date, the Trustee shall distribute to each Unitholder of record at the close of business on the preceding Record Date such Unitholder's pro rata share of the balance of the Capital Account (except for moneys on deposit therein required to purchase Contract Securities). The Trust may provide the following distribution elections: (1) distributions to be made to the address of the Unitholder as it appears on the registration books of the Trustee or (2) distributions to be made to the designated agent for any reinvestment program when, as and if available to the Unitholder through the Depositor. If no election is offered by the Depositor or if no election is specified by the Unitholder at the time of purchase of any Unit, distribution of principal and income and capital gains, if any, shall be distributed as provided in (1) above. Any election other than a deemed election as described in the preceding sentence shall be by written notice to, and in form satisfactory to, the Trustee. Once a distribution election has been chosen by the Unitholder, such election shall remain in effect until changed by the Unitholder. Such change of election may be made by notification thereof to the Trustee at any time in form satisfactory to the Trustee. A transferee of any Unit may make his distribution election in the manner as set forth above. The Trustee shall be entitled to receive in writing a notification from the Unitholder as to his or her change of address." 14. Section 3.06(b)(i)(1) is replaced in its entirety with the following: (1) the amount of income received on the Securities (including amounts received as a portion of the proceeds of any disposition of Securities and accreted original discount on the Treasury Obligations)." 15. Section 3.07(a)(iii) is replaced in its entirety with the following:

Deductions and Distributions. (a) The Trustee, as of the First Settlement Date shall advance from its own funds and shall pay to the Unitholders of a Trust then of record the amount of interest accrued on the Treasury Obligations deposited in such Trust. The Trustee shall be entitled to reimbursement for such advancement from interest received by the respective Trust before any further distributions shall be made from the Income Account to Unitholders of the Trust. The Trustee shall also advance from its own funds and pay the appropriate persons the amount of any interest which accrues on any "when, as and if issued" or "delayed delivery" Treasury Obligations deposited in a Trust from the First Settlement Date to the respective dates of delivery to the Trust of any such Treasury Obligations. Subsequent distributions shall be made as hereinafter provided. Subsequent distributions of funds from the Income Account of a Trust shall be made on the applicable Record Dates of a Trust as described herein. On or immediately after the twenty-fifth day of each month, the Trustee shall satisfy itself as to the adequacy of the Reserve Account, making any further credits thereto as may appear appropriate in accordance with Section 3.04 and shall then with respect to each Trust:" 13. Section 3.05(b)(i3.06(b)(i)(1) of the Standard Terms and Conditions of the Trust shall be replaced in its entirety with the following: "On each Distribution Date, the Trustee shall distribute to each Unitholder of record at the close of business on the preceding Record Date an amount per Unit equal to such Unitholder's Income Distribution (as defined below) computed as of the close of business on the Record Date immediately preceding such Distribution Date. On each Distribution Date, the Trustee shall distribute to each Unitholder of record at the close of business on the preceding Record Date such Unitholder's pro rata share of the balance of the Capital Account (except for moneys on deposit therein required to purchase Contract Securities). The Trust may provide the following distribution elections: (1) distributions to be made to the address of the Unitholder as it appears on the registration books of the Trustee or (2) distributions to be made to the designated agent for any reinvestment program when, as and if available to the Unitholder through the Depositor. If no election is offered by the Depositor or if no election is specified by the Unitholder at the time of purchase of any Unit, distribution of principal and income and capital gains, if any, shall be distributed as provided in (1) above. Any election other than a deemed election as described in the preceding sentence shall be by written notice to, and in form satisfactory to, the Trustee. Once a distribution election has been chosen by the Unitholder, such election shall remain in effect until changed by the Unitholder. Such change of election may be made by notification thereof to the Trustee at any time in form satisfactory to the Trustee. A transferee of any Unit may make his distribution election in the manner as set forth above. The Trustee shall be entitled to receive in writing a notification from the Unitholder as to his or her change of address." 14. Section 3.06(b)(i)(1) is replaced in its entirety with the following: (1) the amount of income received on the Securities (including amounts received as a portion of the proceeds of any disposition of Securities and accreted original discount on the Treasury Obligations)." 1514. Section 3.07(a)(iii) of the Standard Terms and Conditions of the Trust is replaced in its entirety with the following:

Deductions and Distributions. (a) The Trustee, as of the First Settlement Date shall advance from its own funds and shall pay to the Unitholders of a Trust then of record the amount of interest accrued on the Treasury Obligations deposited in such Trust. The Trustee shall be entitled to reimbursement for such advancement from interest received by the respective Trust before any further distributions shall be made from the Income Account to Unitholders of the Trust. The Trustee shall also advance from its own funds and pay the appropriate persons the amount of any interest which accrues on any "when, as and if issued" or "delayed delivery" Treasury Obligations deposited in a Trust from the First Settlement Date to the respective dates of delivery to the Trust of any such Treasury Obligations. Subsequent distributions shall be made as hereinafter provided. Subsequent distributions of funds from the Income Account of a Trust shall be made on the applicable Record Dates of a Trust as described herein. On or immediately after the twenty-fifth (5th) day of each monthMarch, June, October, and December, the Trustee Depositor-Sponsor shall satisfy itself as to the adequacy of the Reserve Account, making any and shall provide instructions to the Trustee, if Depositor-Sponsor deems it necessary, to make further credits thereto as may appear appropriate in accordance with Section 3.04 and shall 3.4. The Trustee then shall, with respect to each the Trust:" 13. (i) deduct from the Income Account or, to the extent funds are not available in such Account, from the Capital Account, and pay to itself the amount that it is at the time entitled to receive pursuant to Section 3.05(b)(i7.4; (ii) deduct from the Income Account or, to the extent funds are not available in such Account, from the Capital Account, and pay to counsel, as hereinafter provided for, an amount equal to unpaid fees and expenses, if any, of such counsel pursuant to Section 3.8, as certified to by the Depositor-Sponsor; and (iii) deduct from the Income Account or, to the extent funds are not available in such Account, from the Capital Account, and pay to counsel, as hereinafter provided for, an amount equal to unpaid fees and expenses, if any, of such counsel pursuant to Section 7.1(e), as certified to by the Trustee. (i) The Depositor-Sponsor shall provide the Trustee monthly with a written notice of the Standard Terms and Conditions Unitholders' Income Distribution (as defined below). Upon receipt of Trust shall be replaced in its entirety with such notice, the following: "On Trustee shall, on each Income Distribution Date, the Trustee shall distribute to each Unitholder of record at the close of business on the preceding Record Date an amount per Unit equal to such each Unitholder's Income Distribution (as defined below) computed by the Depositor-Sponsor as of the close of business on the Income Distribution Record Date immediately preceding such Distribution Date. On each Distribution Date, the Trustee shall distribute to each Unitholder of record at the close of business on the preceding Record Date such Unitholder's pro rata share of the balance of the Capital Account (except for moneys on deposit therein required to purchase Contract Securities). The Trust may provide the following distribution elections: immediately (1) distributions to be made by mail addressed to the post office address of the Unitholder as it appears on the registration books of the Trustee Depositor-Sponsor or (2) distributions to be made to the designated agent for any reinvestment program when, as and if available to the Unitholder through the Depositor-Sponsor. If no election is offered by the Depositor or if no election is specified by the Unitholder at the time of purchase of any Unit, distribution of principal and income and capital gains, if any, shall be distributed as provided in (1) above. Any election other than a deemed election as described in the preceding sentence shall be by written notice to, and in form satisfactory to, the Trustee. Once a distribution election has been chosen by the Unitholder, such election shall remain in effect until changed by the Unitholder. Such change of election may be made by notification thereof to the Trustee at any time in form satisfactory to the Trustee. A transferee transfer of any Unit may make his distribution election in the manner as set forth above. The Until notified otherwise in writing of a change or correction, the Trustee shall be entitled to receive in writing a notification from treat as correct the post office address of the Unitholder as it appears on its registration books. (ii) For the purpose of this Section 3.5, the Unitholder's "Income Distribution" shall be equal to his the Unitholder's number of Units multiplied by the income per Unit as projected by the Depositor-Sponsor. The payment of the projected income may be subsequently adjusted in later Income Distribution Payments in the event of breach of a lease or her change of address." 14. Section 3.06(b)(i)(1) is replaced default or any other cause or condition which the Depositor-Sponsor, in its entirety with discretion, determines could reasonably affect the following: (1) projected income from the amount Assignment of income received on Rents or other Securities. The "Income Distribution" shall be computed by the Securities (including amounts received as a portion of the proceeds of any disposition of Securities and accreted original discount on the Treasury Obligations)Depositor-Sponsor." 15. Section 3.07(a)(iii) is replaced in its entirety with the following: