EXHIBIT 7(r)
State Street Bank and Trust Company
0000 Xxxxxxxx Xxxxx
Xxxxx Xxxxxx, XX 00000
Gentlemen:
Pursuant to Section 12 of the Custodian Agreement dated as of November
3, 1982, by and between USAA Mutual Fund, Inc. (the "Company") and State Street
Bank and Trust Company (the "Custodian"), as amended, modified or supplemented
from time to time (the "Custodian Agreement"), please be advised that the
Company has established one new series of its shares, namely, the Value Fund
(collectively, the "Fund"). Please be further advised that the Company desires
to retain the Custodian to render custody services under the Custodian
Agreement to the Fund in accordance with the fee schedule attached hereto as
Exhibit A.
Please state below whether you are willing to render such services in
accordance with the fee schedule attached hereto as Exhibit A.
USAA MUTUAL FUND, INC.
Attest: By:
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Xxxxxxx X. Xxxxxx Xxxxxxxxxxx X. Xxxxx
Secretary President
Dated:
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We are willing to render custody services to the Value Fund in
accordance with the Custodian Agreement and the fee schedule attached hereto as
Exhibit A.
STATE STREET BANK AND TRUST COMPANY
Attest: By:
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Xxxxxxxxx X. Poster, Vice President Xxxxxx X. Xxxxx, Vice Chairman and
Chief Operating Officer
Dated: ___________________
STATE STREET State Street Bank and Trust Company
[STATE STREET LOGO] X.X. Xxx 0000
Xxxxxx, XX 02105
STATE STREET BANK AND TRUST COMPANY
CUSTODIAN FEE SCHEDULE
USAA INVESTMENT TRUST
USAA MUTUAL FUND, INC.
USAA TAX EXEMPT FUND, INC.
USAA STATE TAX FREE TRUST
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I. CUSTODY, PORTFOLIO AND FUND ACCOUNTING SERVICES - Maintain investment
ledgers, provide selected portfolio transactions, position and income
reports. Maintain general ledger, and capital stock accounts. Prepare
daily trial balance. Calculate net asset value daily. Provide selected
general ledger reports. Securities yield or market value quotations
will be provided to State Street by the fund or via State Streets
Automated Pricing service.
The administration fee shown below is an annual charge, in basis
points, billed and payable monthly, based on average monthly net
assets.
ANNUAL FEES PER PORTFOLIO
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Annual Full Service Fees
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First 50 Million 3.00 Basis Points
Next 50 Million 2.00 Basis Points
Next 100 Million 1.00 Basis Points
Excess .80 Basis Points
Minimum Monthly Charge WAIVED
II. PORTFOLIO TRADES - FOR EACH LINE ITEM PROCESSED
State Street Bank Repos $ 7.00
DTC or Fed Book Entry $ 8.00
Boston / New York Physical $ 25.00
PTC Buy / Sell $ 20.00
All Other Trades $ 16.00
Maturity Collections (NY Physical) $ 8.00
Option Charge for each option written or
closing contract, per issue, per broker $ 25.00
Option expiration / Option exercised $ 15.00
Interest Rate Futures -- no security movement $ 8.00
Monitoring for calls and processing coupons --
for each coupon issue held -- monthly charge $ 5.00
Principal Reduction Payments Per Paydown $ 10.00
Interest / Dividend Claim Charges
(For items held at the Request of Traders over record
date in street form) $ 50.00
III. HOLDINGS CHARGE
Per Security per Month (Domestic Securities Only) $ 5.00
STATE STREET BANK AND TRUST COMPANY
CUSTODIAN FEE SCHEDULE
USAA INVESTMENT TRUST
USAA MUTUAL FUND, INC.
USAA TAX EXEMPT FUND, INC.
USAA STATE TAX FREE TRUST
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IV. AFFIRMATION CHARGE
Per Affirmation per Month $ 1.00
V. GLOBAL CUSTODY
U.S. Equivalent Market Value 11.00 Basis Points
Euroclear 5.00 Basis Points
VI. AUTOMATED PRICING VIA NAVIGATOR
Monthly Base Fee:
Funds with International Holdings $ 375.00
All other Funds $ 300.00
Monthly Quote Charge:
- Municipal Bonds via Xxxxxx Data $ 10.00
- Municipal Bonds via Xxxxx Information Systems $ 16.00
- Government, Corporate and Convertible Bonds
via Xxxxxxx Xxxxx $ 11.00
- Corporate and Government Bonds via Xxxxxx Data $ 11.00
- Options, Futures and Private Placements $ 6.00
- Foreign Equities and Bonds via Extel Ltd. $ 6.00
- Listed Equities, OTC Equities, and Bonds $ 6.00
- Corporate, Municipal, Convertible and
Government Bonds, Adjustable Rate Preferred
Stocks via IDSI $ 12.00
VII. SHAREHOLDER CHECK-WRITING SERVICE
Per check presented for payment
(excluding postage) $ .65
VIII. ADVERTISED YIELD SERVICE
Annual Maintenance Fee:
For each portfolio maintained, monthly charge is based on the number
of holdings as followed:
STATE STREET BANK AND TRUST COMPANY
CUSTODIAN FEE SCHEDULE
USAA INVESTMENT TRUST
USAA MUTUAL FUND, INC.
USAA TAX EXEMPT FUND, INC.
USAA STATE TAX FREE TRUST
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Holding per Portfolio Monthly Charge
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0 to 50 $250.00
50 to 100 $300.00
over 100 $350.00
IX. SPECIAL SERVICES
Fees for activities of a non-recurring nature such as fund
consolidations or reorganizations, extraordinary security shipments
and the preparation of special reports will be subject to negotiation.
Fees for yield calculation, securities lending, and other special
items will be negotiated separately.
X. OUT-OF-POCKET EXPENSES
A billing for the recovery of applicable out-of-pocket expenses will
be made as of the end of each month. Out-of-pocket expenses include,
but are not limited to the following:
Telephone/Telex
Wire Charges ($5.25 per wire and $5.00 out)
Postage and Insurance (includes check writing postage)
Courier Service
Duplicating
Legal Fees
Supplies Related to Fund Records
Rush Transfer -- $8.00 Each
Transfer Fees
Sub-Custodian Charges
Price Waterhouse Audit Letter
Federal Reserve Fee for Return Check items over $2,500 - $4.25
(Xxxx directly to USAA
Transfer Agency Company) GNMA Transfer - $15 each
PTC Deposit/Withdrawal for same day turnarounds - $50.00
STATE STREET BANK AND TRUST COMPANY
CUSTODIAN FEE SCHEDULE
USAA INVESTMENT TRUST
USAA MUTUAL FUND, INC.
USAA TAX EXEMPT FUND, INC.
USAA STATE TAX FREE TRUST
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USAA INVESTMENT TRUST
USAA MUTUAL FUND, INC.
USAA TAX EXEMPT FUND, INC.
USAA STATE TAX FREE TRUST
USAA LIFE INVESTMENT TRUST (name struckout)
STATE STREET BANK & TRUST CO.
BY: /s/ Xxxxxxx Xxxx BY: /s/ Xxxxxxxxxx Xxxxxxx
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Xxxxxxx Xxxx Xxxxxxxxxx Xxxxxxx
TITLE: TREASURER TITLE: VICE PRESIDENT
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DATE: 7-10-97 DATE: 7/7/97
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