EXHIBIT 1.1
XXXXXX UNIT INVESTMENT TRUSTS
SERIES 57
TRUST AGREEMENT
Dated: May 5, 1997
This Trust Agreement between Xxxxxx & Associates, Inc., as
Depositor, and Bank of New York, as Trustee, sets forth certain
provisions in full and incorporates other provisions by reference to the
document entitled "Standard Terms and Conditions of Trust For The Kansas
Tax-Exempt Trust, Series 44 and Subsequent Series, Effective August 15,
1991" (herein called the "Standard Terms and Conditions of Trust"), and
such provisions as are set forth in full and such provisions as are
incorporated by reference constitute a single instrument. All references
herein to Articles and Sections are to Articles and Sections of the
Standard Terms and Conditions of Trust.
WITNESSETH THAT:
In consideration of the premises and of the mutual agreements herein
contained, the Depositor and the Trustee 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 Standard Terms and Conditions of Trust 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.
PART II
SPECIAL TERMS AND CONDITIONS OF TRUST
The following special terms and conditions are hereby agreed to:
(a) The Bonds defined in Section 1.01(1) listed in Schedule A
hereto have been deposited in trust under this Trust Agreement.
(b) The fractional undivided interest in and ownership of the
Trust represented by each unit is the amount set forth under
"Summary of Essential Financial Information - Fractional Undivided
Interest in the Trust per Unit" in the Prospectus.
(c) The First General Record Date shall be the record date for
the Interest Account and the amount set forth under "Distributions"
on page 2 of the Prospectus.
(d) The First Settlement Date shall be the date set forth
under "Summary of Essential Financial Information - First Settlement
Date" in the Prospectus.
(e) The second sentence of Section 4.03 of the Standard Terms
and Conditions of Trust is hereby revised as follows:
"Such compensation initially shall be that amount set
forth under 'Summary of Essential Financial Information' in the
Prospectus."
(f) The second sentence of Section 6.04 of the Standard Terms
and Conditions of Trust is hereby revised as follows:
"Such compensation initially shall be that amount set forth
under 'Summary of Essential Financial Information' in the Prospectus
and may be periodically adjusted in response to fluctuations in
short-term interest rates (reflecting the cost to the Trustee of
advancing funds to the Trust to meet scheduled distributions)."
(g) Section 6.06 is hereby revised to require Trustee
aggregate capital, surplus, and undivided profits of not less than
$500,000 rather than $5,000,000.
(h) Notwithstanding anything to the contrary in the Standard
Terms and Conditions of Trust, the Trustee for the Trust shall be
the Bank of New York and any notice, demand or instruction to be
given to the Trustee shall be directed to the Trustee at 000 Xxxxxxx
Xxxxxx, 00xx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000, Attention: Unit
Investment Trust Division.
(i) Notwithstanding anything to the contrary in the Standard
Terms and Conditions of Trust, all laws or rules of construction of
the state of New York shall govern the rights of the parties to this
Trust Agreement and the Unitholders and the interpretation of the
provisions hereof.
-2-
IN WITNESS THEREOF, the parties hereto have caused this Trust
Agreement to be duly executed.
XXXXXX & ASSOCIATES, INC., Depositor
By /s/ Xxxx X. Xxxxxxxx
----------------------------------
Chairman of the Board and Director
(SEAL)
Attest:
By: /s/ Xxxxx X. Xxxxxxxxx
----------------------------
Chief Executive Officer
and Director
BANK OF NEW YORK, Trustee
By /s/ Xxx Xxxxxx
----------------------------------
Vice President
SCHEDULE A TO TRUST AGREEMENT
SECURITIES INITIALLY DEPOSITED
IN
XXXXXX UNIT INVESTMENT TRUSTS, SERIES 57
(Note: Incorporated herein and made a part hereof is the "Trust
Portfolio" as set forth in the Prospectus.)
