INSURED MUNICIPAL SECURITIES TRUST
SERIES 10
REFERENCE TRUST AGREEMENT
This Reference Trust Agreement dated August 18, 1988 among Bear,
Xxxxxxx & Co. Inc., as Depositor, United States Trust Company of New York, as
Trustee and Standard & Poor's Corporation, as Evaluator, sets forth certain
provisions in full and incorporates other provisions by reference to the
document entitled "Insured Municipal Securities Trust, 9th Discount Series, and
Subsequent Series, Trust Indenture and Agreement" dated April 11, 1985 as
amended in part by this Reference Trust Agreement (herein as amended or
supplemented called the "Indenture") and such provisions as are set forth in
full and such provisions as are incorporated by reference constitute a single
instrument.
WITNESSETH THAT:
In consideration of the premises and of the mutual agreements herein
contained, the Depositor, the Trustee, and the Evaluator agree as follows:
Part I
STANDARD TERMS AND CONDITIONS OF TRUST
Subject to the provisions of Part II hereof, all the provisions
contained in the Indenture are herein incorporated by reference in their
entirety and shall be deemed to be a part of this instrument as fully and to
the same extent as though said provisions had been set forth in full in this
instrument except that for all purposes of this Insured Municipal Securities
Trust, Series 10, and all Subsequent Series, the following sections of the
Indenture are amended as follows:
(a) Section 1.01(6) shall be amended by adding the following word
immediately after the words "Bear, Xxxxxxx & Co.": "Inc.";
(b) Section 1.02 shall be amended by adding the following word
immediately after the words "Bear, Xxxxxxx & Co.": "Inc.", wherever the former
shall appear in said Section.
C/M 11939.0001 406278.1
Part II
SPECIAL TERMS AND CONDITIONS OF TRUST
The following special terms and conditions are hereby agreed to:
(a) The interest-bearing obligations listed in Schedule A hereto have
been deposited in trust under this Indenture.
(b) For the purposes of the definition of the Unit in Article I the
fractional undivided interest in and ownership of the Trust is 1/2,500.
(c) The term Record Date shall mean the first day of each month (or
the last business day prior thereto) commencing on January 1, 1989 for monthly
distributions, December 1 and June 1 of each year for semi-annual distributions
(commencing on December 1, 1988) and December 1 of each year for annual
distributions (commencing on December 1, 1988).
(d) The term Payment Date shall mean the fifteenth day of each month
(or the last business day prior thereto) commencing on January 15, 1989 for
monthly distributions, December 15 and June 15 of each year for semi-annual
distributions (commencing on December 15, 1988) and December 15 of each year
for annual distributions (commencing on December 15, 1988).
(e) All Certificateholders of record on December 1, 1988 (the "First
Record Date"), regardless of the plan of distribution selected, will receive a
distribution to be made on or shortly after December 15, 1988 (the "First
Payment Date"), and thereafter distributions will be made monthly,
semi-annually or annually, depending upon the plan of distribution chosen by
each Certificateholder.
(f) The First Settlement Date shall mean August 25, 1988.
(g) The number of Units referred to in Section 2.03 is 2,500.
(h) For the purposes of Section 4.02(a), the Evaluator shall receive
for each evaluation of the Bonds in the Trust a minimum fee of $15, plus a fee
of $0.25 for determining the aggregate value of each issue of Bonds in excess
of 50 issues (treating separate maturities of Bonds as separate issues).
(i) For the purposes of Section 6.01(g), the liquidation amount is
hereby specified to be $800,000.
-2-
C/M 11939.0001 406278.1
(j) For purposes of Section 6.04, the Trustee shall be paid per annum
$1.05 per $1,000 principal amount of Bonds for that portion of the Trust under
the monthly distribution plan, $.60 per $1,000 principal amount of Bonds for
that portion of the Trust under the semi-annual distribution plan and $.35 per
$1,000 principal amount of Bonds for that portion of the Trust under the annual
distribution plan. During the first year after the date hereof, such payments
to the Trustee will be reduced by a portion [a maximum of $.88 per Unit times
the number of Units on the monthly distribution plan, $.60 per unit plus $.28
of Trust expenses (to be assumed and paid by the Trustee) times the number of
Units on the semi-annual distribution plan and $.35 per Unit plus $.53 of Trust
expenses (to be assumed and paid by the Trustee) times the number of Units of
the annual distribution plan] of the amount of interest which accrues on any
"when, as and if issued" Bonds between the first settlement date of the Trust
and the respective dates of delivery of such Bonds.
(k) For purposes of Section 7.04, the Depositor's maximum annual fee
is hereby specified to be $0.15 per $1,000 principal amount of Bonds in the
Trust.
(l) For purposes of Section 9.05, the Depositor's address is 000 Xxxx
Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000.
(m) For purposes of this Series of Insured Municipal Securities
Trust, the form of Certificate set forth in this Indenture shall be
appropriately modified to reflect the title of this Series as set forth above.
IN WITNESS WHEREOF, the parties hereto have caused this Reference
Trust Agreement to be duly executed on the date first above written.
[Signatures on separate pages]
-3-
C/M 11939.0001 406278.1
BEAR, XXXXXXX & CO. INC.
Depositor
By: ------------------------
Authorized Signator
STATE OF NEW YORK )
: ss.:
COUNTY OF NEW YORK )
On this ---- day of ---------, 198-, before me personally appeared
----------------------, to me known, who being by me duly sworn, said that he
is an Authorized Signator of Bear, Xxxxxxx & Co. Inc., one of the corporations
described in and which executed the foregoing instrument, and that he signed
his name thereto by authority of the Board of Directors of said corporation.
----------------------------------
Notary Public
C/M 11939.0001 406278.1
UNITED STATES TRUST COMPANY OF NEW YORK
Trustee
By:------------------------------------
Assistant Vice President
STATE OF NEW YORK )
: ss.:
COUNTY OF NEW YORK )
On this ----- day of ---------------, 198-, before me personally
appeared ---------------------, to me known, who being by me duly sworn, said
that he is an Authorized Signator of United States Trust Company of New York,
one of the corporations described in and which executed the foregoing
instrument; that he knows the seal of said corporation; that the seal affixed
to said instrument is such corporate seal; that it was so affixed by authority
of the Board of Directors of said corporation and that he signed his name
thereto by like authority.
--------------------------------
Notary Public
C/M 11939.0001 406278.1
STANDARD & POOR'S CORPORATION
Evaluator
By:--------------------------
Vice President
SEAL
ATTEST:
----------------------------
(Assistant) Secretary
C/M 11939.0001 406278.1
SCHEDULE A
INSURED MUNICIPAL SECURITIES TRUST
PORTFOLIO
SERIES 10
As of August 18, 1988
A MONTHLY PAYMENT SERIES
SEMI-ANNUAL PAYMENT SERIES OR ANNUAL PAYMENT SERIES
Aggregate Name of Issuer and Coupon/ Redemption Feature
Portfolio Principal Title of Bonds Maturity S.F.-- Sinking Fund Cost of Bonds
No. Amount Contracted for(5) Ratings(1) Date(s)(2) Ref.-- Refunding(2) to Trust(3)
--- ------ ----------------- ---------- ---------- ------------------- -----------
1 $250,000 Xxxxx Cnty. Ga. Dev. Auth. Poll. Cntrl. Rev. AAA 11.750% No Sinking Fund $307,165
Bonds (Oglethorpe Pwr. Corp. Vogtle Prjt.) 11/01/2014 11/01/94 @ 102 Ref.
(Financial Guaranty)
2 250,000 Rockport Inc. Poll. Cntrl. Xxx. Xxxxx Series AAA 9.375% No Sinking Fund 277,513
1985A (AEP Genrtng. Co.) (Financial 9/01/2014 9/01/95 @ 102 Ref.
Guaranty)
3 250,000(4) La. Pub. Facs. Auth. Fixed Rate Hlth. & Ed. AAA* 8.200% 12/01/01 @ 100 S.F. 251,673
Cap. Facs. Xxx. Xxxxx (Our Lady of the 12/01/2015 12/01/98 @ 100 Ref.
Lake Reg. Med. Cntr.) Series 1985C (BIG)
4 250,000 Mass. Ind. Finc. Agncy. Poll. Cntrl. Rev. AAA 10.125% No Sinking Fund 283,610
Bonds 1983 Series (Eastern Edison Co. Prjt.) 8/01/2008 8/01/93 @ 103 Ref.
(AMBAC)
5 200,000 Missoula Mont. Hosp. Facs. Xxx. Xxxxx AAA 9.400% No Sinking Fund 222,280
(Sisters of Charity Prjt.-St. Patrick's Hosp. 9/01/2012 9/01/95 @ 102 Ref.
Prjt.) (AMBAC)
6 250,000 Farmington N.M. Util. Sys. Xxx. Xxxxx AAA 9.750% 5/15/06 @ 100 S.F. 284,572
Series 1985 (Financial Guaranty) 5/15/2013 5/15/96 @ 102 Ref.
7 200,000 Enid Ok. Muni. Auth. Util. and Sales Tax AAA 6.250% 2/01/06 @ 106 S.F 165,004
Xxx. Xxxxx Series 1987A (AMBAC) 2/01/2012 2/01/97 @ 102 Ref.
8 200,000 Pittsburgh Penn. Gen. Oblig. Xxx. Xxxxx AAA 6.000% 3/01/89 @ 100 S.F. 159,454
Series A 1986 (AMBAC) 3/01/2014 3/01/96 @ 100 Ref.
9 100,000 Memphis-Shelby Cnty. Tenn. Arpt. Auth. AAA 9.125% 9/01/06 @ 100 S.F. 108,308
Gen. Xxx. Xxxxx Series 0000 (XXXX) 9/01/2015 9/01/93 @ 102 Ref.
10 200,000 Tx. Pub. Bldg. Auth. Rev. Rfndg. Bonds AAA 6.000% 8/01/12 @ 100 S.F. 154,740
Series 0000 (XXXX) 8/01/2014 8/01/97 @ 100 Ref.
11 100,000 Houston Tx. Swr. Sys. Jr. Lien Rev. Rfndg. AAA 9.375% 12/01/06 @ 100 S.F. 111,830
Bonds Series 1985 (Financial Guaranty) 12/01/2013 12/01/95 @ 102 Ref.
12 150,000 Intermountain Pwr. Agncy. Utah Pwr. Supply AAA 5.000% 7/01/10 @ 100 S.F. 101,202
Rev. Rfndg. Bonds Series A (MBIA) 7/01/2012 1/01/97 @ 100 Ref.
13 100,000 Fremont Calif. Mtg. Xxx. Xxxxx Issue F 1985 AAA 0.000% 6/01/11 @ 20.202 S.F. 2,700
(Heritage Village Prjt.) (MBIA) 6/01/2027 12/01/96 @ 4.883 Ref.
---------- ----------
$2,500,000 $2,430,051
========== ==========
C/M 11939.0001 406278.1
INSURED MUNICIPAL SECURITIES TRUST
SERIES 11
REFERENCE TRUST AGREEMENT
This Reference Trust Agreement dated September 23, 1988 among Bear,
Xxxxxxx & Co. Inc., as Depositor, United States Trust Company of New York, as
Trustee and Standard & Poor's Corporation, as Evaluator, sets forth certain
provisions in full and incorporates other provisions by reference to the
document entitled "Insured Municipal Securities Trust, 9th Discount Series, and
Subsequent Series, Trust Indenture and Agreement" dated April 11, 1985 as
amended in part by this Reference Trust Agreement (herein as amended or
supplemented called the "Indenture") and such provisions as are set forth in
full and such provisions as are incorporated by reference constitute a single
instrument.
WITNESSETH THAT:
In consideration of the premises and of the mutual agreements herein
contained, the Depositor, the Trustee, and the Evaluator agree as follows:
Part I
STANDARD TERMS AND CONDITIONS OF TRUST
Subject to the provisions of Part II hereof, all the provisions
contained in the Indenture are herein incorporated by reference in their
entirety and shall be deemed to be a part of this instrument as fully and to
the same extent as though said provisions had been set forth in full in this
instrument except that for all purposes of this Insured Municipal Securities
Trust, Series 11, and all Subsequent Series, the following sections of the
Indenture are amended as follows:
(a) Section 1.01(6) shall be amended by adding the following word
immediately after the words "Bear, Xxxxxxx & Co.": "Inc.";
(b) Section 1.02 shall be amended by adding the following word
immediately after the words "Bear, Xxxxxxx & Co.": "Inc.", wherever the former
shall appear in said Section.
C/M 11939.0001 406278.1
Part II
SPECIAL TERMS AND CONDITIONS OF TRUST
The following special terms and conditions are hereby agreed to:
(a) The interest-bearing obligations listed in Schedule A hereto have
been deposited in trust under this Indenture.
(b) For the purposes of the definition of the Unit in Article I the
fractional undivided interest in and ownership of the Trust is 1/2,500.
(c) The term Record Date shall mean the first day of each month (or
the last business day prior thereto) commencing on February 1, 1989 for monthly
distributions, December 1 and June 1 of each year for semi-annual distributions
(commencing on June 1, 1989) and December 1 of each year for annual
distributions (commencing on December 1, 1989).
(d) The term Payment Date shall mean the fifteenth day of each month
(or the last business day prior thereto) commencing on February 15, 1989 for
monthly distributions, December 15 and June 15 of each year for semi-annual
distributions (commencing on June 15, 1989) and December 15 of each year for
annual distributions (commencing on December 15, 1989).
(e) All Certificateholders of record on January 1, 1989 (the "First
Record Date"), regardless of the plan of distribution selected, will receive a
distribution to be made on or shortly after January 15, 1989 (the "First
Payment Date"), and thereafter distributions will be made monthly,
semi-annually or annually, depending upon the plan of distribution chosen by
each Certificateholder.
(f) The First Settlement Date shall mean September 30, 1988.
(g) The number of Units referred to in Section 2.03 is 2,500.
(h) For the purposes of Section 4.02(a), the Evaluator shall receive
for each evaluation of the Bonds in the Trust a minimum fee of $15, plus a fee
of $0.25 for determining the aggregate value of each issue of Bonds in excess
of 50 issues (treating separate maturities of Bonds as separate issues).
(i) For the purposes of Section 6.01(g), the liquidation amount is
hereby specified to be $1,000,000.
-2-
C/M 11939.0001 406278.1
(j) For purposes of Section 6.04, the Trustee shall be paid per annum
$1.05 per $1,000 principal amount of Bonds for that portion of the Trust under
the monthly distribution plan, $.60 per $1,000 principal amount of Bonds for
that portion of the Trust under the semi-annual distribution plan and $.35 per
$1,000 principal amount of Bonds for that portion of the Trust under the annual
distribution plan. During the first year after the date hereof, such payments
to the Trustee will be reduced by a portion [a maximum of $.88 per Unit times
the number of Units on the monthly distribution plan, $.60 per unit plus $.28
of Trust expenses (to be assumed and paid by the Trustee) times the number of
Units on the semi-annual distribution plan and $.35 per Unit plus $.53 of Trust
expenses (to be assumed and paid by the Trustee) times the number of Units of
the annual distribution plan] of the amount of interest which accrues on any
"when, as and if issued" Bonds between the first settlement date of the Trust
and the respective dates of delivery of such Bonds.
(k) For purposes of Section 7.04, the Depositor's maximum annual fee
is hereby specified to be $0.15 per $1,000 principal amount of Bonds in the
Trust.
(l) For purposes of Section 9.05, the Depositor's address is 000 Xxxx
Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000.
(m) For purposes of this Series of Insured Municipal Securities
Trust, the form of Certificate set forth in this Indenture shall be
appropriately modified to reflect the title of this Series as set forth above.
IN WITNESS WHEREOF, the parties hereto have caused this Reference
Trust Agreement to be duly executed on the date first above written.
[Signatures on separate pages]
-3-
C/M 11939.0001 406278.1
BEAR, XXXXXXX & CO. INC.
Depositor
By:---------------------
Authorized Signator
STATE OF NEW YORK )
: ss.:
COUNTY OF NEW YORK )
On this 19 day of September, 1988, before me personally appeared
Xxxxx XxXxxxx, to me known, who being by me duly sworn, said that he is an
Authorized Signator of Bear, Xxxxxxx & Co. Inc., one of the corporations
described in and which executed the foregoing instrument, and that he signed
his name thereto by authority of the Board of Directors of said corporation.
--------------------------
Notary Public
C/M 11939.0001 406278.1
UNITED STATES TRUST COMPANY OF NEW YORK
Trustee
By:------------------------------------
Assistant Vice President
STATE OF NEW YORK )
: ss.:
COUNTY OF NEW YORK )
On this 12th day of September, 1988, before me personally appeared
Xxxxx X. Xxxxx, to me known, who being by me duly sworn, said that he is an
Authorized Signator of United States Trust Company of New York, one of the
corporations described in and which executed the foregoing instrument; that he
knows the seal of said corporation; that the seal affixed to said instrument is
such corporate seal; that it was so affixed by authority of the Board of
Directors of said corporation and that she signed her name thereto by like
authority.
----------------------------
Notary Public
C/M 11939.0001 406278.1
STANDARD & POOR'S CORPORATION
Evaluator
By:--------------------------
Vice President
SEAL
ATTEST:
--------------------------
(Assistant) Secretary
C/M 11939.0001 406278.1
SCHEDULE A
INSURED MUNICIPAL SECURITIES TRUST
PORTFOLIO
SERIES 11
As of September 23, 1988
A MONTHLY PAYMENT SERIES
SEMI-ANNUAL PAYMENT SERIES OR ANNUAL PAYMENT SERIES
Aggregate Name of Issuer and Coupon/ Redemption Feature
Portfolio Principal Title of Bonds Maturity S.F.-- Sinking Fund Cost of Bonds
No. Amount Contracted for(5) Ratings(1) Date(s)(2) Ref.-- Refunding(2) to Trust(3)
--- ------ ----------------- ---------- ---------- ------------------- -----------
1 $200,000 Xxxxx Cnty. Ga. Dev. Auth. Poll. Cntrl. Rev. AAA 11.750% No Sinking Fund $ 246,902
Bonds (Oglethorpe Pwr. Corp. Vogtle Prjt.) 11/01/2014 11/01/94 @ 102 Ref.
(Financial Guaranty)
2 105,000 Chicago Ill. Schl. Finc. Auth. Gen. Oblig. AAA 8.750% 6/01/06 @ 100 S.F. 113,647
Schl. Asstnc. Bonds Rfndg. Series 1985 6/01/2009 6/01/95 @ 102 Ref.
(Financial Guaranty)
3 250,000 Rockport Inc. Poll. Cntrl. Xxx. Xxxxx Series AAA 9.375% No Sinking Fund 282,340
1985A (AEP Genring. Co.) (Financial 9/01/2014 9/01/95 @ 102 Ref.
Guaranty)
4 200,000 Mass. Indus. Finc. Agncy. Poll. Cntrl. Rev. AAA 10.125% No Sinking Fund 228,030
Bonds 1983 Series (Eastern Edison Co. Prjt.) 8/01/2008 8/01/93 @ 103 Ref.
(AMBAC)
5 250,000 Cnty. of Monroe Mich. Poll. Cntrl. Rev. AAA 9.625% No Sinking Fund 178,678
Bonds (Detroit Edison Co. Prjt.) Series A 12/01/2015 12/01/95 @ 103 Ref.
1985 (AMBAC)
6 250,000 Cleveland Ohio Wtrwks. Imprvmnt. First AAA 5.000% 1/01/13 @ 100 S.F. 280,905
Mtg. Rfndg. Xxx. Xxxxx Series D 1986 1/01/2015 1/01/97 @ 100 Ref.
(AMBAC)
7 250,000 Cuyahoga Ohio Hosp. Rfndg. Xxx. Xxxxx AAA 9.250% 10/01/01 @ 100 S.F. 205,242
(Deaconess Hosp. of Cleveland) Series 1985 10/01/2009 10/01/95 @ 102 Ref.
A (Financial Guaranty)
8 250,000 Pittsburgh Penn. Gen. Oblig. Xxx. Xxxxx AAA 6.000% 3/01/89 @ 100 S.F. 162,080
Series A 1986 (AMBAC) 3/01/2014 3/01/96 @ 100 Ref.
9 200,000 Tx. Pub. Bldg. Auth. Rev. Rfndg. Bonds AAA 6.000% 8/01/12 @ 100 S.F. 116,614
Series 0000 (XXXX) 8/01/2014 8/01/97 @ 100 Ref.
10 100,000 Austin Tx. Combined Util. Sys. Xxx. Xxxxx AAA* 9.500% 5/15/01 @ 100 S.F. 228,969
Series 1985A (Financial Guaranty) 5/15/2015 5/15/00 @ 100 Ref.
11 000,000 Xxxxx Xxx Xxxxxx Xx. Muni. Util. Dstrct. Tx. AAA 8.250% No Sinking Fund 106,891
Cntrct. Xxx. Xxxxx Series 1986 (Financial 11/15/2006 11/15/96 @ 101 1/2Ref.
Guaranty)
12 100,000 Xxxxxx Cnty. Wa. Swr. Rev. & Rfndg. Bonds AAA 8.625% 2/01/97 @ 100 S.F. 3,405
Series 0000 (XXXX) 12/01/2003 2/01/95 @ 100 Ref.
13 125,000 Fremont Calif. Mtg. Xxx. Xxxxx Issue F 1985 AAA 0.000% 6/01/11 @ 00.000 X.X.
(Xxxxxxxx Xxxxxxx Xxxx.) (XXXX) 6/01/2027 12/01/96 @ 4.883 Ref.
---------- ----------
$2,500,000 $2,441,993
========== ==========
C/M 11939.0001 406278.1
INSURED MUNICIPAL SECURITIES TRUST
SERIES 12
REFERENCE TRUST AGREEMENT
This Reference Trust Agreement dated October 27, 1988 among Bear,
Xxxxxxx & Co. Inc., as Depositor, United States Trust Company of New York, as
Trustee and Standard & Poor's Corporation, as Evaluator, sets forth certain
provisions in full and incorporates other provisions by reference to the
document entitled "Insured Municipal Securities Trust, 9th Discount Series, and
Subsequent Series, Trust Indenture and Agreement" dated April 11, 1985 as
amended in part by this Reference Trust Agreement (herein as amended or
supplemented called the "Indenture") and such provisions as are set forth in
full and such provisions as are incorporated by reference constitute a single
instrument.
WITNESSETH THAT:
In consideration of the premises and of the mutual agreements herein
contained, the Depositor, the Trustee, and the Evaluator agree as follows:
Part I
STANDARD TERMS AND CONDITIONS OF TRUST
Subject to the provisions of Part II hereof, all the provisions
contained in the Indenture are herein incorporated by reference in their
entirety and shall be deemed to be a part of this instrument as fully and to
the same extent as though said provisions had been set forth in full in this
instrument except that for all purposes of this Insured Municipal Securities
Trust, Series 12, and all Subsequent Series, the following sections of the
Indenture are amended as follows:
(a) Section 1.01(6) shall be amended by adding the following word
immediately after the words "Bear, Xxxxxxx & Co.": "Inc.";
(b) Section 1.02 shall be amended by adding the following word
immediately after the words "Bear, Xxxxxxx & Co.": "Inc.", wherever the former
shall appear in said Section.
C/M 11939.0001 406278.1
Part II
SPECIAL TERMS AND CONDITIONS OF TRUST
The following special terms and conditions are hereby agreed to:
(a) The interest-bearing obligations listed in Schedule A hereto have
been deposited in trust under this Indenture.
(b) For the purposes of the definition of the Unit in Article I the
fractional undivided interest in and ownership of the Trust is 1/3,500.
(c) The term Record Date shall mean the first day of each month (or
the last business day prior thereto) commencing on March 1, 1989 for monthly
distributions, December 1 and June 1 of each year for semi-annual distributions
(commencing on June 1, 1989) and December 1 of each year for annual
distributions (commencing on December 1, 1989).
(d) The term Payment Date shall mean the fifteenth day of each month
(or the last business day prior thereto) commencing on March 15, 1989 for
monthly distributions, December 15 and June 15 of each year for semi-annual
distributions (commencing on June 15, 1989) and December 15 of each year for
annual distributions (commencing on December 15, 1989).
(e) All Certificateholders of record on February 1, 1989 (the "First
Record Date"), regardless of the plan of distribution selected, will receive a
distribution to be made on or shortly after February 15, 1989 (the "First
Payment Date"), and thereafter distributions will be made monthly,
semi-annually or annually, depending upon the plan of distribution chosen by
each Certificateholder.
(f) The First Settlement Date shall mean November 3, 1988.
(g) The number of Units referred to in Section 2.03 is 3,500.
(h) For the purposes of Section 4.02(a), the Evaluator shall receive
for each evaluation of the Bonds in the Trust a minimum fee of $15, plus a fee
of $0.25 for determining the aggregate value of each issue of Bonds in excess
of 50 issues (treating separate maturities of Bonds as separate issues).
(i) For the purposes of Section 6.01(g), the liquidation amount is
hereby specified to be $1,400,000.
-2-
C/M 11939.0001 406278.1
(j) For purposes of Section 6.04, the Trustee shall be paid per annum
$1.05 per $1,000 principal amount of Bonds for that portion of the Trust under
the monthly distribution plan, $.60 per $1,000 principal amount of Bonds for
that portion of the Trust under the semi-annual distribution plan and $.35 per
$1,000 principal amount of Bonds for that portion of the Trust under the annual
distribution plan. During the first year after the date hereof, such payments
to the Trustee will be reduced by a portion [a maximum of $.88 per Unit times
the number of Units on the monthly distribution plan, $.60 per unit plus $.28
of Trust expenses (to be assumed and paid by the Trustee) times the number of
Units on the semi-annual distribution plan and $.35 per Unit plus $.53 of Trust
expenses (to be assumed and paid by the Trustee) times the number of Units of
the annual distribution plan] of the amount of interest which accrues on any
"when, as and if issued" Bonds between the first settlement date of the Trust
and the respective dates of delivery of such Bonds.
(k) For purposes of Section 7.04, the Depositor's maximum annual fee
is hereby specified to be $0.15 per $1,000 principal amount of Bonds in the
Trust.
(l) For purposes of Section 9.05, the Depositor's address is 000 Xxxx
Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000.
(m) For purposes of this Series of Insured Municipal Securities
Trust, the form of Certificate set forth in this Indenture shall be
appropriately modified to reflect the title of this Series as set forth above.
IN WITNESS WHEREOF, the parties hereto have caused this Reference
Trust Agreement to be duly executed on the date first above written.
[Signatures on separate pages]
-3-
C/M 11939.0001 406278.1
BEAR, XXXXXXX & CO. INC.
Depositor
By:---------------------
Authorized Signator
STATE OF NEW YORK )
: ss.:
COUNTY OF NEW YORK )
On this 25th day of October, 1988, before me personally appeared
Xxxxx XxXxxxx, to me known, who being by me duly sworn, said that he is an
Authorized Signator of Bear, Xxxxxxx & Co. Inc., one of the corporations
described in and which executed the foregoing instrument, and that he signed
his name thereto by authority of the Board of Directors of said corporation.
------------------------------
Notary Public
C/M 11939.0001 406278.1
UNITED STATES TRUST COMPANY OF NEW YORK
Trustee
By:------------------------------------
Assistant Vice President
STATE OF NEW YORK )
: ss.:
COUNTY OF NEW YORK )
On this 7th day of October, 1988, before me personally appeared Xxxxx
X. Xxxxx, to me known, who being by me duly sworn, said that she is an
Authorized Signator of United States Trust Company of New York, one of the
corporations described in and which executed the foregoing instrument; that she
knows the seal of said corporation; that the seal affixed to said instrument is
such corporate seal; that it was so affixed by authority of the Board of
Directors of said corporation and that she signed her name thereto by like
authority.
-------------------------------------
Notary Public
C/M 11939.0001 406278.1
STANDARD & POOR'S CORPORATION
Evaluator
By:--------------------------
Vice President
SEAL
ATTEST:
--------------------------
(Assistant) Secretary
C/M 11939.0001 406278.1
SCHEDULE A
INSURED MUNICIPAL SECURITIES TRUST
PORTFOLIO
SERIES 12
As of October 27, 1988
A MONTHLY PAYMENT SERIES
SEMI-ANNUAL PAYMENT SERIES OR ANNUAL PAYMENT SERIES
Aggregate Name of Issuer and Coupon/ Redemption Feature
Portfolio Principal Title of Bonds Maturity S.F.-- Sinking Fund Cost of Bonds
No. Amount Contracted for(5) Ratings(1) Date(s)(2) Ref.-- Refunding(2) to Trust(3)
--- ------ ----------------- ---------- ---------- ------------------- -----------
1 $250,000 Tallahassee Fla. Cap. Prgrm. Xxx. Xxxxx AAA 8.250% 10/10/09 @ 100 S.F. $ 264,590
Series 1988 (BIG) 10/01/2021 10/01/98 @ 102 Ref.
2 350,000 Orlando Fla. Cap. Prgrm. Xxx. Xxxxx Series AAA 8.250% 10/01/09 @ 100 S.F. 370,426
1988 (BIG) 10/01/2021 10/01/98 @ 102 Ref.
3 350,000 Xxxxx Cnty. Ga. Dev. Auth. Poll. Cntrl. Rev. AAA 11.750% No Sinking Fund 432,170
Bonds (Oglethorpe Pwr. Corp. Vogtle Prjt.) 11/01/2014 11/01/94 @ 102 Ref.
(Financial Guaranty)
4 325,000 Indianapolis Ind. Gas Util. Sys. Rev. Rfndg. AAA 3.500% No Sinking Fund 173,638
Bonds 1986 Series B (Financial Guaranty) 6/01/2018 Non Callable
5 270,000 Jefferson Sales Tax Dstrct. Xxxxxxxxx Xxxxx AAA 8.000% 7/01/92 @ 100 S.F. 279,755
Louisiana Spec. Sales Tax Xxx. Xxxxx 7/01/2005 7/01/96 @ 103 Ref.
Series A (BIG)
6 200,000 Mass. Indus. Finc. Agncy. Poll. Cntrl. Rev. AAA 10.125% No Sinking Fund 228,354
Bonds 1983 Series (Eastern Edison Co. Prjt.) 8/01/2008 8/01/93 @ 103 Ref.
(AMBAC)
7 250,000 N.C. Eastern Muni. Pwr. Agncy. Pwr. Sys. AAA 4.500% 7/01/20 @ 100 S.F. 157,475
Ref. Rfndg. Bonds Series 1987A (Financial 1/01/2024 1/01/97 @ 100 Ref.
Guaranty)
8 250,000 Xxxxxx Cnty, N.D. Poll. Cntrl. Xxx. Xxxxx AAA 10.500% 6/30/09 @ 100 S.F. 295,115
Series 1984 (Basin Elec. Pwr. Co-Op 6/30/2013 12/30/94 @ 102 Ref.
Antelope Valley Station) (AMBAC)
9 250,000 Xxxxxxx Tenn. Wtr. & Swr. Sys. Rev. Rfndg. AAA* 7.600% 7/01/09 @ 100 S.F. 250,835
Bonds Series 1988 (AMBAC) 1/01/2012 1/01/97 @ 102 Ref.
10 150,000 Galveston Cnty. Tx. Wtr. Auth. Wtr. Sys. AAA 9.000% 7/10/06 @ 100 S.F. 165,728
Cntrct. Rev. Rfndg. Bonds Mainland Prjt. 7/10/2009 7/10/96 @ 100 Ref.
Series 1985 (AMBAC)
11 250,000 Xxxxxx Cnty. Tx. Hosp. Dstrct. Rfndg. Rev. AAA 8.500% 4/01/06 @ 100 S.F. 267,652
Bonds Series 1986 (BIG) 4/01/2015 4/01/96 @ 102 Ref.
12 200,000 Xxx Xxxxxxx Tx. Muni. Pwr. Agncy. Pwr. AAA 9.250% 9/01/04 @ 100 S.F. 224,290
Supl. Sys. Xxx. Xxxxx (MBIA) 9/01/2008 9/01/95 @ 102 Ref.
13 230,000 Waco Tx. Hosp. Rfndg. Xxx. Xxxxx Series AAA 9.000% 9/01/00 @ 100 S.F. 254,867
1985 (Hillcrest Baptist Med. Xxxx. Xxxx.) 0/00/0000 0/00/00 @ 000 Xxx.
(XXXX)
14 175,000 Santa Clara Calif. Hsg. Auth. Multi-Fam. AAA 0.000% 4/01/07 @ 13.074 S.F. 4,485
Hsg. Xxx. Xxxxx Series 1984A (FHA Insrd. 4/01/2026 10/01/97 @ 5.011 Ref.
Mtg. Loan-Cedar Xxxx Aprtmnts. Prjt.)
(MBIA)
---------- ----------
$3,500,000 $3,369,380
========== ==========
C/M 11939.0001 406278.1
INSURED MUNICIPAL SECURITIES TRUST
SERIES 13
REFERENCE TRUST AGREEMENT
This Reference Trust Agreement dated December 1, 1988 among Bear,
Xxxxxxx & Co. Inc., as Depositor, United States Trust Company of New York, as
Trustee and Standard & Poor's Corporation, as Evaluator, sets forth certain
provisions in full and incorporates other provisions by reference to the
document entitled "Insured Municipal Securities Trust, 9th Discount Series, and
Subsequent Series, Trust Indenture and Agreement" dated April 11, 1985 as
amended in part by this Reference Trust Agreement (herein as amended or
supplemented called the "Indenture") and such provisions as are set forth in
full and such provisions as are incorporated by reference constitute a single
instrument.
WITNESSETH THAT:
In consideration of the premises and of the mutual agreements herein
contained, the Depositor, the Trustee, and the Evaluator agree as follows:
Part I
STANDARD TERMS AND CONDITIONS OF TRUST
Subject to the provisions of Part II hereof, all the provisions
contained in the Indenture are herein incorporated by reference in their
entirety and shall be deemed to be a part of this instrument as fully and to
the same extent as though said provisions had been set forth in full in this
instrument except that for all purposes of this Insured Municipal Securities
Trust, Series 13, and all Subsequent Series, the following sections of the
Indenture are amended as follows:
(a) Section 1.01(6) shall be amended by adding the following word
immediately after the words "Bear, Xxxxxxx & Co.": "Inc.";
(b) Section 1.02 shall be amended by adding the following word
immediately after the words "Bear, Xxxxxxx & Co.": "Inc.", wherever the former
shall appear in said Section.
C/M 11939.0001 406278.1
Part II
SPECIAL TERMS AND CONDITIONS OF TRUST
The following special terms and conditions are hereby agreed to:
(a) The interest-bearing obligations listed in Schedule A hereto have
been deposited in trust under this Indenture.
(b) For the purposes of the definition of the Unit in Article I the
fractional undivided interest in and ownership of the Trust is 1/5,000.
(c) The term Record Date shall mean the first day of each month (or
the last business day prior thereto) commencing on April 1, 1989 for monthly
distributions, December 1 and June 1 of each year for semi-annual distributions
(commencing on June 1, 1989) and December 1 of each year for annual
distributions (commencing on December 1, 1989).
(d) The term Payment Date shall mean the fifteenth day of each month
(or the last business day prior thereto) commencing on April 15, 1989 for
monthly distributions, December 15 and June 15 of each year for semi-annual
distributions (commencing on June 15, 1989) and December 15 of each year for
annual distributions (commencing on December 15, 1989).
(e) All Certificateholders of record on March 1, 1989 (the "First
Record Date"), regardless of the plan of distribution selected, will receive a
distribution to be made on or shortly after March 15, 1989 (the "First Payment
Date"), and thereafter distributions will be made monthly, semi-annually or
annually, depending upon the plan of distribution chosen by each
Certificateholder.
(f) The First Settlement Date shall mean December 1, 1988.
(g) The number of Units referred to in Section 2.03 is 5,000.
(h) For the purposes of Section 4.02(a), the Evaluator shall receive
for each evaluation of the Bonds in the Trust a minimum fee of $15, plus a fee
of $0.25 for determining the aggregate value of each issue of Bonds in excess
of 50 issues (treating separate maturities of Bonds as separate issues).
(i) For the purposes of Section 6.01(g), the liquidation amount is
hereby specified to be $2,000,000.
-2-
C/M 11939.0001 406278.1
(j) For purposes of Section 6.04, the Trustee shall be paid per annum
$.97 per $1,000 principal amount of Bonds for that portion of the Trust under
the monthly distribution plan, $.80 per $1,000 principal amount of Bonds for
that portion of the Trust under the semi-annual distribution plan and $.29 per
$1,000 principal amount of Bonds for that portion of the Trust under the annual
distribution plan. During the first year after the date hereof, such payments
to the Trustee will be reduced by a portion [a maximum of $.80 per Unit times
the number of Units on the monthly distribution plan, $.51 per unit plus $.29
of Trust expenses (to be assumed and paid by the Trustee) times the number of
Units on the semi-annual distribution plan and $.33 per Unit plus $.47 of Trust
expenses (to be assumed and paid by the Trustee) times the number of Units of
the annual distribution plan] of the amount of interest which accrues on any
"when, as and if issued" Bonds between the first settlement date of the Trust
and the respective dates of delivery of such Bonds.
(k) For purposes of Section 7.04, the Depositor's maximum annual fee
is hereby specified to be $0.15 per $1,000 principal amount of Bonds in the
Trust.
(l) For purposes of Section 9.05, the Depositor's address is 000 Xxxx
Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000.
(m) For purposes of this Series of Insured Municipal Securities
Trust, the form of Certificate set forth in this Indenture shall be
appropriately modified to reflect the title of this Series as set forth above.
IN WITNESS WHEREOF, the parties hereto have caused this Reference
Trust Agreement to be duly executed on the date first above written.
[Signatures on separate pages]
-3-
C/M 11939.0001 406278.1
BEAR, XXXXXXX & CO. INC.
Depositor
By:---------------------
Authorized Signator
STATE OF NEW YORK )
: ss.:
COUNTY OF NEW YORK )
On this 18th day of November, 1988, before me personally appeared
Xxxxx XxXxxxx, to me known, who being by me duly sworn, said that he is an
Authorized Signator of Bear, Xxxxxxx & Co. Inc., one of the corporations
described in and which executed the foregoing instrument, and that he signed
his name thereto by authority of the Board of Directors of said corporation.
-------------------------------
Notary Public
C/M 11939.0001 406278.1
UNITED STATES TRUST COMPANY OF NEW YORK
Trustee
By:------------------------------------
Assistant Vice President
STATE OF NEW YORK )
: ss.:
COUNTY OF NEW YORK )
On this 2nd day of November, 1988, before me personally appeared
Xxxxxx Xxxxxxxx, to me known, who being by me duly sworn, said that he is an
Authorized Signator of United States Trust Company of New York, one of the
corporations described in and which executed the foregoing instrument; that he
knows the seal of said corporation; that the seal affixed to said instrument is
such corporate seal; that it was so affixed by authority of the Board of
Directors of said corporation and that he signed his name thereto by like
authority.
------------------------------
Notary Public
C/M 11939.0001 406278.1
STANDARD & POOR'S CORPORATION
Evaluator
By:--------------------------
Vice President
SEAL
ATTEST:
-----------------------------
(Assistant) Secretary
C/M 11939.0001 406278.1
SCHEDULE A
INSURED MUNICIPAL SECURITIES TRUST
PORTFOLIO
SERIES 13
As of December 1, 1988
A MONTHLY PAYMENT SERIES
SEMI-ANNUAL PAYMENT SERIES OR ANNUAL PAYMENT SERIES
Aggregate Name of Issuer and Coupon/ Redemption Feature
Portfolio Principal Title of Bonds Maturity S.F.-- Sinking Fund Cost of Bonds
No. Amount Contracted for(5) Ratings(1) Date(s)(2) Ref.-- Refunding(2) to Trust(3)
--- ------ ----------------- ---------- ---------- ------------------- -----------
1 $ 205,000 Municipality of Anchorage, Alaska 1986 AAA 8.125% 6/01/02 @ 100 S.F. $ 210,781
Gen. Oblig. Wtr. Bonds (Financial Guaranty) 6/01/2011 6/01/96 @ 102 Ref.
2 395,000 City of Dunedin Fla. Hosp. Ref. Bonds Series AAA 8.900% No Sinking Fund 437,818
1982 (Xxxxx Hosp. & Clinic Prjt.) (MBIA) 10/01/1999 10/01/95 @ 102 Ref.
3 400,000 Orlando Fla. Cap. Prgrm. Xxx. Xxxxx Series AAA 8.250% 10/01/09 @ 100 S.F. 415,244
1988 (BIG) 10/01/2021 10/01/98 @ 102 Ref.
4 400,000 Tallahassee Fla. Cap. Prgrm. Xxx. Xxxxx AAA 8.250% 10/01/09 @ 100 S.F. 415,244
Series 1988 (BIG) 10/01/2021 10/01/98 @ 102 Ref.
5 350,000 Xxxxx Cnty. Ga. Dev. Auth. Poll. Cntrl. Rev. AAA 11.750% No Sinking Fund 431,179
Bonds (Oglethorpe Pwr. Corp--Vogtle Prjt.) 11/01/2014 11/01/94 @ 102 Ref.
(Financial Guaranty)
6 400,000 Carbondale Ill. Hosp. Rev. Rfndg. Bonds AAA 6.875% 3/01/07 @ 100 S.F. 362,972
Series 1987 (Southern Ill. Hosp. Serv.) 3/01/2015 3/01/97 @ 102 Ref.
(MBIA Corp.)
7 200,000 City of Chicago Xxxx Cnty. Ill. Gen. Oblig. AAA 6.000% 1/01/12 @ 100 S.F. 163,918
Prjt. & Rfndg. Bonds Series 0000 (XXXX 1/01/2013 1/01/97 @ 100 Ref.
Corp.)
8 350,000 Xxxxx Crest Ill. Hosp. Facs. Rev. Rfndg. and AAA* 9.125% 7/01/99 @ 100 S.F. 396,368
Imprvent. Bonds (So. Suburban Prjt.) (BIG) 7/01/2017 7/01/97 @ 102 Ref.
9 400,000 Northwest Suburban Muni. Joint Action Wtr. AAA 5.750% 5/01/09 @ 100 S.F. 317,744
Agency (Xxxx, DuPage & Xxxx Cntys. Ill.) 5/01/2012 5/01/96 @ 100 Ref.
Wtr. Supl. Sys. Xxx. Xxxxx Series 1986
(MBIA)
10 100,000 Indiana State Toll Finc. Auth. Toll Rd. Rev. AAA 6.875% 7/01/08 @ 100 S.F. 92,093
Rfndg. Bonds (Financial Guaranty) 7/01/2012 1/01/97 @ 102 Ref.
11 50,000 Parish of Xxxx Xxxxxxxxx St. of La. Poll. AAA 12.000% No Sinking Fund 62,770
Cntrl. Xxx. Xxxxx (Gulf Sts. Utils. Co. Prjt.) 5/01/2014 1/01/95 @ 103 Ref.
Series 1984D (AMBAC)
12 150,000 Mich. St. Hsg. Dev. Auth. Multi-Fam. Insrd. AAA 8.875% 1/01/04 @ 100 S.F. 161,250
Hsg. Bonds Series A (Financial Guaranty) 7/01/2017 7/01/95 @ 103 Ref.
13 350,000 Xxxxxx Cnty. N.D. Poll. Contrl. Xxx. Xxxxx AAA 10.500% 6/30/09 @ 100 S.F. 411,548
Series 1984 (Basin Elec. Pwr. Co-Op. 6/30/2013 12/30/94 @ 102 Ref.
Antelope Valley Station) (AMBAC)
14 350,000 Xxx Xxxxxxx Tx. Muni. Pwr. Agncy Pwr. AAA 9.250% 9/01/04 @ 100 S.F. 392,112
Supl. Sys. Xxx. Xxxxx (MBIA) 9/01/2008 9/01/95 @ 102 Ref.
15 300,000 Dallas Cnty. Tex. Util. & Reclamation Dstrct. AAA 8.300% 2/15/09 @ 100 S.F. 310,662
Unlmtd. Ad Valorem Tax Bonds Series 1987 2/15/2016 2/15/98 @ 000 Xxx.
(XXXX Corp.)
16 150,000 Intermountain Pwr. Agncy. Utah Pwr. Supl. AAA 5.000% 7/01/10 @ 100 S.F. 106,244
Rev. Rfndg. Bonds Series A (MBIA Corp.) 7/01/2012 1/01/97 @ 100 Ref.
17 200,000 Intermountain Pwr. Agncy. Utah Pwr. Supl. AAA 5.000% 7/01/10 @ 100 S.F. 140,800
Rev. Rfndg. Bonds, 1986 Series F (AMBAC) 7/01/2013 1/01/96 @ 100 Ref.
18 250,000 Santa Clara Calif. Hsg. Auth. Multi-Fam. AAA 0.000% 4/01/07 @ 13.074 S.F. 6,462
Hsg. Xxx. Xxxxx Series 1984A (FHA Insrd. 4/01/2026 10/01/97 @ 5.011 Ref.
Mtg. Loan-Cedar Xxxx Aptmnts. Prjt.)
(MBIA)
---------- ----------
$5,000,000 $4,835,209
========== =============
C/M 11939.0001 406278.1
INSURED MUNICIPAL SECURITIES TRUST
SERIES 14
REFERENCE TRUST AGREEMENT
This Reference Trust Agreement dated December 22, 1988 among Bear,
Xxxxxxx & Co. Inc., as Depositor, United States Trust Company of New York, as
Trustee and Standard & Poor's Corporation, as Evaluator, sets forth certain
provisions in full and incorporates other provisions by reference to the
document entitled "Insured Municipal Securities Trust, 9th Discount Series, and
Subsequent Series, Trust Indenture and Agreement" dated April 11, 1985 as
amended in part by this Reference Trust Agreement (herein as amended or
supplemented called the "Indenture") and such provisions as are set forth in
full and such provisions as are incorporated by reference constitute a single
instrument.
WITNESSETH THAT:
In consideration of the premises and of the mutual agreements herein
contained, the Depositor, the Trustee, and the Evaluator agree as follows:
Part I
STANDARD TERMS AND CONDITIONS OF TRUST
Subject to the provisions of Part II hereof, all the provisions
contained in the Indenture are herein incorporated by reference in their
entirety and shall be deemed to be a part of this instrument as fully and to
the same extent as though said provisions had been set forth in full in this
instrument except that for all purposes of this Insured Municipal Securities
Trust, Series 14, and all Subsequent Series, the following sections of the
Indenture are amended as follows:
(a) Section 1.01(6) shall be amended by adding the following word
immediately after the words "Bear, Xxxxxxx & Co.": "Inc.";
(b) Section 1.02 shall be amended by adding the following word
immediately after the words "Bear, Xxxxxxx & Co.": "Inc.", wherever the former
shall appear in said Section.
C/M 11939.0001 406278.1
Part II
SPECIAL TERMS AND CONDITIONS OF TRUST
The following special terms and conditions are hereby agreed to:
(a) The interest-bearing obligations listed in Schedule A hereto have
been deposited in trust under this Indenture.
(b) For the purposes of the definition of the Unit in Article I the
fractional undivided interest in and ownership of the Trust is 1/6,000.
(c) The term Record Date shall mean the first day of each month (or
the last business day prior thereto) commencing on May 1, 1989 for monthly
distributions, December 1 and June 1 of each year for semi-annual distributions
(commencing on June 1, 1989) and December 1 of each year for annual
distributions (commencing on December 1, 1989).
(d) The term Payment Date shall mean the fifteenth day of each month
(or the last business day prior thereto) commencing on May 15, 1989 for monthly
distributions, December 15 and June 15 of each year for semi-annual
distributions (commencing on June 15, 1989) and December 15 of each year for
annual distributions (commencing on December 15, 1989).
(e) All Certificateholders of record on April 1, 1989 (the "First
Record Date"), regardless of the plan of distribution selected, will receive a
distribution to be made on or shortly after April 15, 1989 (the "First Payment
Date"), and thereafter distributions will be made monthly, semi-annually or
annually, depending upon the plan of distribution chosen by each
Certificateholder.
(f) The First Settlement Date shall mean December 30, 1988.
(g) The number of Units referred to in Section 2.03 is 6,000.
(h) For the purposes of Section 4.02(a), the Evaluator shall receive
for each evaluation of the Bonds in the Trust a minimum fee of $15, plus a fee
of $0.25 for determining the aggregate value of each issue of Bonds in excess
of 50 issues (treating separate maturities of Bonds as separate issues).
(i) For the purposes of Section 6.01(g), the liquidation amount is
hereby specified to be $2,400,000.
-2-
C/M 11939.0001 406278.1
(j) For purposes of Section 6.04, the Trustee shall be paid per annum
$.97 per $1,000 principal amount of Bonds for that portion of the Trust under
the monthly distribution plan, $.51 per $1,000 principal amount of Bonds for
that portion of the Trust under the semi-annual distribution plan and $.33 per
$1,000 principal amount of Bonds for that portion of the Trust under the annual
distribution plan. During the first year after the date hereof, such payments
to the Trustee will be reduced by a portion [a maximum of $.80 per Unit times
the number of Units on the monthly distribution plan, $.51 per unit plus $.29
of Trust expenses (to be assumed and paid by the Trustee) times the number of
Units on the semi-annual distribution plan and $.33 per Unit plus $.47 of Trust
expenses (to be assumed and paid by the Trustee) times the number of Units of
the annual distribution plan] of the amount of interest which accrues on any
"when, as and if issued" Bonds between the first settlement date of the Trust
and the respective dates of delivery of such Bonds.
(k) For purposes of Section 7.04, the Depositor's maximum annual fee
is hereby specified to be $0.25 per $1,000 principal amount of Bonds in the
Trust.
(l) For purposes of Section 9.05, the Depositor's address is 000 Xxxx
Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000.
(m) For purposes of this Series of Insured Municipal Securities
Trust, the form of Certificate set forth in this Indenture shall be
appropriately modified to reflect the title of this Series as set forth above.
IN WITNESS WHEREOF, the parties hereto have caused this Reference
Trust Agreement to be duly executed on the date first above written.
[Signatures on separate pages]
-3-
C/M 11939.0001 406278.1
BEAR, XXXXXXX & CO. INC.
Depositor
By:----------------------
Authorized Signator
STATE OF NEW YORK )
: ss.:
COUNTY OF NEW YORK )
On this 22nd day of December, 1988, before me personally appeared
Xxxxx XxXxxxx, to me known, who being by me duly sworn, said that he is an
Authorized Signator of Bear, Xxxxxxx & Co. Inc., one of the corporations
described in and which executed the foregoing instrument, and that he signed
his name thereto by authority of the Board of Directors of said corporation.
---------------------------
Notary Public
C/M 11939.0001 406278.1
UNITED STATES TRUST COMPANY OF NEW YORK
Trustee
By:------------------------------------
Assistant Vice President
STATE OF NEW YORK )
: ss.:
COUNTY OF NEW YORK )
On this 14th day of December, 1988, before me personally appeared
Xxxxxx Xxxxxxxx, to me known, who being by me duly sworn, said that he is an
Authorized Signator of United States Trust Company of New York, one of the
corporations described in and which executed the foregoing instrument; that he
knows the seal of said corporation; that the seal affixed to said instrument is
such corporate seal; that it was so affixed by authority of the Board of
Directors of said corporation and that he signed his name thereto by like
authority.
-----------------------------
Notary Public
C/M 11939.0001 406278.1
STANDARD & POOR'S CORPORATION
Evaluator
By:--------------------------
Vice President
SEAL
ATTEST:
----------------------------
(Assistant) Secretary
C/M 11939.0001 406278.1
SCHEDULE A
INSURED MUNICIPAL SECURITIES TRUST
PORTFOLIO
SERIES 14
As of December 22, 1988
A MONTHLY PAYMENT SERIES
SEMI-ANNUAL PAYMENT SERIES OR ANNUAL PAYMENT SERIES
Aggregate Name of Issuer and Coupon/ Redemption Feature
Portfolio Principal Title of Bonds Maturity S.F.-- Sinking Fund Cost of Bonds
No. Amount Contracted for(5) Ratings(1) Date(s)(2) Ref.-- Refunding(2) to Trust(3)
--- ------ ----------------- ---------- ---------- ------------------- -----------
1 $ 300,000 San Jose Calif. Arpt. Xxx. Xxxxx Series 1985 AAA* 8.750% 3/01/02 @ 100 S.F. $ 324,873
(MBIA) 3/01/2016 3/01/93 @ 104 Ref.
2 400,000 Orlando Fla. Cap. Prgrm. Xxx. Xxxxx. Series AAA 8.250% 10/01/09 @ 100 S.F. 415,188
1988 (BIG) 10/01/2021 10/01/98 @ 102 Ref.
3 400,000 Tallahassee Fla. Cap. Prgm. Xxx. Xxxxx AAA 8.250% 10/01/09 @ 100 S.F. 415,188
Series 1988 (BIG) 10/01/2021 10/01/98 @ 102 Ref.
4 400,000 Xxxxx Cnty. Ga. Poll. Cntrl. Xxx. Xxxxx (Ga. AAA 12.000% No Sinking Fund 495,748
Pwr. Co. Plant Vogtle. Prjt.) 1st Series 1984 10/01/2014 10/01/94 @ 102 Ref.
(BIG)
5 400,000 Cherokee Cnty. Ga. Wtr. & Swrage. Auth. AAA 9.125% 8/01/06 @ 100 S.F. 446,020
Xxx. Xxxxx Series 1985 (MBIA) 8/01/2009 8/01/95 @ 102.5 Ref.
6 375,000 Columbus Ga. Med. Centr. Hosp. Auth. Rev. AAA 9.125% 7/01/01 @ 100 S.F. 417,825
Rfndg. Bonds Anticipation Certs. Series 1985 7/01/2005 7/01/95 @ 102 Ref.
(BIG)
7 250,000 Xxxxx Ga. Hosp. Auth. Xxx. Xxxxx AAA 9.300% 4/01/06 @ 100 S.F. 281,533
Anticipation Certs. (St. Joseph's Hosp. of 10/01/2015 10/01/95 @ 102 Ref.
Atlanta Proj.) Series 1985A (AMBAC)
8 150,000 Chicago Hts. Ill. Gen. Oblig. Corp. Purp. AAA 9.000% No Sinking Fund 166,515
Bonds Series 0000X (XXXX) 12/01/2006 6/01/96 @ 102 Ref.
9 250,000 Village of Evergreen Park Xxxx Cnty. Ill. AAA 6.000% 8/15/11 @ 100 S.F. 209,065
Hosp. Fac. Rev. Rfndg. Bonds (Little Co. of 2/15/2012 2/15/98 @ 100 Ref.
Xxxx Hosp. Inc.) Series 0000 (XXXX Corp.)
10 500,000 Northwest Suburban Muni. Joint Action Wtr. AAA 5.750% 5/01/09 @ 100 S.F. 404,170
Agncy. (Xxxx, DuPage & Xxxx Cntys. Ill.) 5/01/2012 5/01/96 @ 100 Ref.
Wtr. Supl. Sys. Xxx. Xxxxx Series 1986
(MBIA)
11 400,000 Mass. Indus. Finc. Agncy. Poll. Cntrl. Rev. AAA 10.125% No Sinking Fund 453,824
Bonds 1983 Series (Eastern Edison Co. Prjt.) 8/01/2008 8/01/93 @ 103 Ref.
(AMBAC)
12 300,000 N.J. Wastewtr. Treatment Trust Insrd. Loan AAA* 9.000% No Sinking Fund 331,470
Xxx. Xxxxx Series 1987 (BIG) 9/01/2006 9/01/97 @ 102 Ref.
13 400,000 Farmington N.M. Util. Sys. Xxx. Xxxxx AAA 9.750% 5/15/06 @ 100 S.F. 463,668
Series 1985 (Financial Guaranty) 5/15/2013 5/15/96 @ 102 Ref.
14 300,000 N.C. Eastern Muni. Pwr. Agncy. Pwr. Sys. AAA 4.500% 7/01/20 @ 100 S.F. 191,649
Rev. Rfndg. Bonds Series 1987A (BIG) 1/01/2024 1/01/97 @ 100 Ref.
15 375,000 Charleston Cnty. S.C. Hosp. Fac. Rev. Rfndg. AAA 9.125% 10/01/06 @ 100 S.F. 418,822
& Imprvmt. Bonds (Xxxxx Hosp. Prjt.) Series 10/01/2011 10/01/95 @ 102 Ref.
1985 (Financial Guaranty)
16 500,000 Intermountain Pwr. Agncy. Utah Spec. Oblig. AAA* 5.750% 7/01/19 @ 100 S.F. 397,260
Bonds Series C (BIG) 7/01/2020 7/01/96 @ 100 Ref.
17 300,000 Santa Clara Calif. Hsg. Auth. Multi-Fam. AAA 0.000% 4/01/07 @ 13.074 S.F. 7,788
Hsg. Xxx. Xxxxx Series 1984A (FHA Insrd. 4/01/2026 10/01/97 @ 5.011 Ref.
Mtg. Loan-Cedar Xxxx Aprtmts. Prjt.)
(MBIA)
---------- ----------
$6,000,000 $5,840,606
========== =============
C/M 11939.0001 406278.1
