Exhibit 4.1 TRUST AGREEMENT TRUST AGREEMENT, between MS Structured Asset Corp. (the "Depositor") and LaSalle Bank National Association (the "Trustee"), made as of the date set forth in Schedule I attached hereto, which Schedule together with Schedules...Trust Agreement • May 13th, 2004 • MS Structured Saturns Series 2004-7 • Asset-backed securities • New York
