Common use of Legal Clause in Contracts

Legal. A. Provide registration and other administrative services necessary to qualify the shares of the Fund for sale in those jurisdictions determined from time to time by the Fund's Board of Directors (commonly known as "Blue Sky Registration"). B. Provide registration with and reports to the Securities and Exchange Commission in compliance with the provisions of the Investment Company Act of 1940 and the Securities Act of 1933. C. Prepare and review Fund prospectus and Statement of Additional Information. D. Prepare proxy statements and oversee proxy tabulation for annual meetings. E. Prepare Board materials and maintain minutes of Board meetings. F. Draft, review and maintain contractual agreements between Fund and Investment Advisor, Custodian, Distributor and Transfer Agent. G. Oversee printing of proxy statements, financial reports to shareholders, prospectuses and Statements of Additional Information. H. Provide legal advice and oversight regarding shareholder transactions, administrative services, compliance with contractual agreements and the provisions of the 1940 and 1933 Acts. (Notwithstanding the above, outside counsel for the Funds may provide the services listed above as a direct Fund expense or at the option of the Funds, the Funds may employ their own counsel to perform any of these services.) SCHEDULE OF SHARE TRANSFER AND DIVIDEND DISBURSING SERVICES Security Management Company agrees to provide the Fund the following transfer agency and dividend disbursing services: 1. Maintenance of shareholder accounts, including processing of new accounts. 2. Posting address changes and other file maintenance for shareholder accounts. 3. Posting all transactions to the shareholder file, including: A. Direct purchases B. Wire order purchases C. Direct redemptions D. Wire order redemptions E. Draft redemptions F. Direct exchanges G. Transfers H. Certificate issuances I. Certificate deposits 4. Monitor fiduciary processing, insuring accuracy and deduction of fees. 5. Prepare daily reconciliations of shareholder processing to money movement instructions. 6. Handle bounced check collections. Immediately liquidate shares purchased and return to the shareholder the check and confirmation of the transaction. 7. Issuing all checks and stopping and replacing lost checks. 8. Draft clearing services. A. Maintenance of signature cards and appropriate corporate resolutions. B. Comparison of the signature on the check to the signatures on the signature card for the purpose of paying the face amount of the check only. C. Receiving checks presented for payment and liquidating shares after verifying account balance. D. Ordering checks in quantity specified by the Fund for the shareholder. 9. Mailing confirmations, checks and/or certificates resulting from transaction requests to shareholders. 10. Performing all of the Fund's other mailings, including: A. Dividend and capital gain distributions. B. Semiannual and annual reports. C. 1099/year-end shareholder reporting. D. Systematic withdrawal plan payments.

Legal. A. Provide registration and other administrative services necessary to qualify the shares of the Fund for sale in those jurisdictions determined from time to time by the Fund's Board of Directors (commonly known as "Blue Sky Registration"). B. Provide registration with and reports to the Securities and Exchange Commission in compliance with the provisions of the Investment Company Act of 1940 and the Securities Act of 1933. C. Prepare and review Fund prospectus and Statement of Additional Information. D. Prepare proxy statements and oversee proxy tabulation for annual meetings. E. Prepare Board materials and maintain minutes of Board meetings. F. Draft, review and maintain contractual agreements between Fund and Investment Advisor, Custodian, Distributor and Transfer Agent. G. Oversee printing of proxy statements, financial reports to shareholders, prospectuses and Statements of Additional Information. H. Provide legal advice and oversight regarding shareholder transactions, administrative services, compliance with contractual agreements and the provisions of the 1940 and 1933 Acts. (Notwithstanding the above, outside counsel for the Funds may provide the services listed above as a direct Fund expense or at the option of the Funds, the Funds may employ their own counsel to perform any of these services.) SCHEDULE OF SHARE TRANSFER AND DIVIDEND DISBURSING SERVICES Security Management Company agrees to provide the Fund the following transfer agency and dividend disbursing services: 1. Maintenance of shareholder accounts, including processing of new accounts. 2. Posting address changes and other file maintenance for shareholder accounts. 3. Posting all transactions to the shareholder file, including: A. Direct purchases B. Wire order purchases C. Direct redemptions D. Wire order redemptions E. Draft redemptions F. Direct exchanges G. Transfers H. Certificate issuances I. Certificate deposits 4. Monitor fiduciary processing, insuring accuracy and deduction of fees. 5. Prepare daily reconciliations of shareholder processing to money movement instructions. 6. Handle bounced check collections. Immediately liquidate shares purchased and return to the shareholder the check and confirmation of the transaction. 7. Issuing all checks and stopping and replacing lost checks. 8. Draft clearing services. A. Maintenance of signature cards and appropriate corporate resolutions. B. Comparison of the signature on the check to the signatures on the signature card for the purpose of paying the face amount of the check only. C. Receiving checks presented for payment and liquidating shares after verifying account balance. D. Ordering checks in quantity specified by the Fund for the shareholder. 9. Mailing confirmations, checks and/or certificates resulting from transaction requests to shareholders. 10. Performing all of the Fund's other mailings, including: A. Dividend and capital gain distributions. B. Semiannual and annual reports. C. 1099/year-end shareholder reporting. D. Systematic withdrawal plan payments.