INSURED MUNICIPAL SECURITIES TRUST
SERIES 29
REFERENCE TRUST AGREEMENT
This Reference Trust Agreement dated July 23, 1992 among
Bear, Xxxxxxx & Co. Inc. and Gruntal & Co., Incorporated, as Depositors, United
States Trust Company of New York, as Trustee and Xxxxx S&P Evaluation Services,
a division of Xxxxx Information Systems, Inc., as Evaluator, sets forth certain
provisions in full and incorporates other provisions by reference to the
document entitled "Insured Municipal Securities Trust, 47th Discount Series and
Series 20, and Subsequent Series, Trust Indenture and Agreement" dated June 16,
1989 as amended in part by this Reference Trust Agreement (herein as amended or
supplemented called the "Indenture"). This Reference Trust Agreement and the
Indenture, as incorporated by reference herein, will constitute a single
instrument.
WITNESSETH THAT:
In consideration of the premises and of the mutual agreements
herein contained, the Depositors, 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.
For purposes of the references made to Section 7.04 in
Sections 3.05(d), 3.06(A)(3), 3.06(B)(3) and 7.05 of the Indenture, the
Indenture is hereby amended to delete such references made to Section 7.04 and
to substitute therefor references to Section 7.05.
(a) All references to the words "Standard and Poor's
Corporation" appearing therein are hereby deleted and the words "Xxxxx S&P
Evaluation Services, a division of Xxxxx Information Systems, Inc." are hereby
added in place thereof.
1042.1
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 fiscal year for the Trust shall end on June 30 of
each year.
(d) The term Record Date shall mean the first day of each
month (or the last business day prior thereto) commencing on December 1, 1992
for monthly distributions, December 1 and June 1 of each year for semi-annual
distributions (commencing on December 1, 1992) and December 1 of each year for
annual distributions (commencing on December 1, 1992).
(e) The term Payment Date shall mean the fifteenth day of
each month (or the last business day prior thereto) commencing on December 15,
1992 for monthly distributions, December 15 and June 15 of each year for
semi-annual distributions (commencing on December 15, 1992) and December 15 of
each year for annual distributions (commencing on December 15, 1992).
(f) All Certificateholders of record on November 1, 1992 (the
"First Record Date"), regardless of the plan of distribution selected, will
receive a distribution to be made on or shortly after November 15, 1992 (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.
(g) The First Settlement Date shall mean July 30, 1992.
(h) The number of Units referred to in Section 2.03 is 6,000.
(i) For the purposes of Section 4.02, the Evaluator shall
receive for each evaluation of the Bonds in the Trust a minimum fee of $8, 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).
-2-
1042.1
(j) For the purposes of Section 6.01(g), the liquidation
amount is hereby specified to be $2,400,000.
(k) For purposes of Section 6.04, the Trustee shall be paid
per annum $1.00 per $1,000 principal amount of Bonds for that portion of the
Trust under the monthly distribution plan, $.52 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 $.83 per
Unit times the number of Units on the monthly distribution plan, $.52 per unit
plus $.31 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
$.50 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.
(l) For purposes of Section 7.05, the Depositors' maximum
annual fee is hereby specified to be $0.25 per $1,000 principal amount of Bonds
in the Trust.
(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.
(n) For purposes of this Series of Insured Municipal
Securities Trust, the execution date of this Indenture shall be the date first
written 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-
1042.1
GRUNTAL & CO. INCORPORATED
Depositor
By:/s/ Xxxxxx Xxxxxxxxx
Authorized Signator
STATE OF NEW YORK )
: ss.:
COUNTY OF NEW YORK)
On this 23rd day of July, 1992, before me personally appeared
Xxxxxx Xxxxxxxxx, to me know, who being by me duly sworn, said that he is an
Authorized Signator of Gruntal & Co. Incorporated, one of the corporations
described in and which executed and foregoing instrument, and that he signed
his name thereto by authority of the Board of Directors of said corporation.
/s/ Xxxxxxxx X. Xxxxxx
Notary Public
XXXXXXXX X. XXXXXX
Notary Public, State of New York
No. 00-0000000
Qualified in New York County
Commission Expires February 3, 0000
-0-
0000.0
XXXXXX XXXXXX TRUST COMPANY OF NEW YORK
Trustee
By:/s/ Xxxxxx X. Xxxxxxxx
Vice President
STATE OF NEW YORK )
:ss.:
COUNTY OF NEW YORK )
On this 7 day of July, 1992, before me personally appeared
Xxxxxx X. Xxxxxxxx, to me know, who being by me duly sworn, said that he is an
Authorized Signator 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.
/s/ Xxxxxxx X. Xxxxxxx
Notary Public
XXXXXXX X. XXXXXXX
NOTARY PUBLIC, State of New York
No. 01B04950864
Qualified in Richmond County
Commission Expires 5-8-93
-5-
1042.1
BEAR, XXXXXXX & CO. INC.
Depositor
By:/s/ Xxxxx X. XxXxxxx
Authorized Signator
STATE OF NEW YORK )
: ss:
COUNTY OF NEW YORK )
On this 23rd day of July, 1992, before me personally appeared
Xxxxx X. 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.
/s/ Xxxxxx Xxxxxx
Notary Public
XXXXXX XXXXXX
Notary Public, State of New York
No. 00-0000000
Qualified in the County of New York
Term Expires 8/31/92
-6-
1042.1
XXXXX INFORMATION SYSTEMS, INC.,
Evaluator
By:/s/
President
SEAL
ATTEST:
/s/
Senior Vice President/Director
-7-
1042.1
SCHEDULE A
INSURED MUNICIPAL SECURITIES TRUST
PORTFOLIO
SERIES 29 (LONG-INTERMEDIATE)
As of July 23, 1992
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(4) Ratings(1) Date(2) Ref. -- Refunding(2) to Trust(3)
1 $ 700,000 Alaska Student Ln. Corp. State Asstd. Rev. AAA 6.125% No Sinking Fund $ 700,000
Bonds Series A (AMT) (AMBAC) 7/01/2005 7/01/02 @ 100 Ref.
2 600,000 Xxxxx Cnty. Co. Schl. Dstrct. No. 12 Genl. AAA 6.125% No Sinking Fund 606,102
Oblig. Rfndg. Xxx. Xxxxx Series 1992 12/15/2007 12/15/03 @ 100 Ref.
(Financial Guaranty)
3 230,000 Escambia Cnty. Fla. Schl. Bd. Certs. of Part. AAA 6.250% 2/01/05 @ 100 S.F. 234,119
Series 1992 (Financial Security) 2/01/2007 2/01/02 @ 100 Ref.
4 215,000 Xxx Cnty. Fla. Solid Waste Sys. Xxx. Xxxxx AAA 6.900% No Sinking Fund 232,404
Series 0000X (XXX) (XXXX Corp.) 10/01/2003 10/01/01 @ 102 Ref.
5 500,000 St. John's Cnty. Fla. Trans. Imprvmnt. AAA 6.000% 10/01/04 @ 100 S.F. 500,000
Rfndg. Xxx. Xxxxx Series 1992 (Financial 10/01/2007 10/01/00 @ 102 Ref.
Guaranty)
6 205,000 Will Cnty. Ill. Forest Preserve Genl. Oblig. AAA 6.000% No Sinking Fund 205,000
Rfndg. Xxx. Xxxxx Series 1992 (AMBAC) 12/01/2007 12/01/02 @ 100 Ref.
7 700,000 State of Iowa Certs. of Part. Series 1992A AAA 6.500% 7/01/03 @ 100 S.F. 729,498
(AMBAC) 7/01/2006 7/01/02 @ 102 Ref.
8 700,000(4) Parish of Iberville La. Genl. Oblig. Schl. AAA 6.000% No Sinking Fund 693,049
Rfndg. Bonds Cnsldtd. Schl. Dstrct. No. 5 10/01/2007 10/01/02 @ 102 Ref.
Series 1992 (Financial Security)
9 000,000 Xxxx Xxxxxxx Xxxxxx Xx. Sch. Dstrct. Genl. AAA 6.700% No Sinking Fund 737,982
Oblig. Rev. Rfndg. Bonds Series 1991 3/01/2006 3/01/01 @ 102 Ref.
(Financial Security)
10 625,000 N.Y. City Gen. Oblig. Xxx. Xxxxx Fiscal AAA 8.250% No Sinking Fund 752,838
1991 Series B (AMBAC) 6/01/2005 Non-Callable
11 235,000 Brownsville Tx. Utils. Sys. Priority Rev. AAA 6.250% No Sinking Fund 239,386
Rfndg. Bonds Series 1992 (MBIA Corp.) 9/01/2007 9/01/02 @ 100 Ref.
12 590,000(4) Mi. State Trunk Line Fund Xxx. Xxxxx Series AAA 0.000% No Sinking Fund 233,350
1992A (AMBAC) 10/01/2007 Non-Callable
$6,000,000 $5,863,728
============= =============
-8-
1042.1
INSURED MUNICIPAL SECURITIES TRUST
NEW YORK NAVIGATOR INSURED SERIES 11
REFERENCE TRUST AGREEMENT
This Reference Trust Agreement dated July 23, 1992 among
Bear, Xxxxxxx & Co. Inc. and Gruntal & Co., Incorporated, as Depositors, United
States Trust Company of New York, as Trustee and Xxxxx S&P Evaluation Services,
a division of Xxxxx Information Systems, Inc., as Evaluator, sets forth certain
provisions in full and incorporates other provisions by reference to the
document entitled "Insured Municipal Securities Trust, 47th Discount Series and
Series 20, and Subsequent Series, Trust Indenture and Agreement" dated June 16,
1989 as amended in part by this Reference Trust Agreement (herein as amended or
supplemented called the "Indenture"). This Reference Trust Agreement and the
Indenture, as incorporated by reference herein, will constitute a single
instrument.
WITNESSETH THAT:
In consideration of the premises and of the mutual agreements
herein contained, the Depositors, 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.
For purposes of the references made to Section 7.04 in
Sections 3.05(d), 3.06(A)(3), 3.06(B)(3) and 7.05 of the Indenture, the
Indenture is hereby amended to delete such references made to Section 7.04 and
to substitute therefor references to Section 7.05.
(a) All references to the words "Standard & Poor's
Corporation" appearing therein are hereby deleted and the words "Xxxxx S&P
Evaluation Services, a division of Xxxxx Information Systems, Inc." are hereby
added in place thereof.
1260.1
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 1/4,000.
(c) The fiscal year for the Trust shall end on June
30th of each year.
(d) The term Record Date shall mean the first day of each
month (or the last business day prior thereto) commencing on December 1, 1992
for monthly distributions, December 1 and June 1 of each year for semi-annual
distributions (commencing on December 1, 1992) and December 1 of each year for
annual distributions (commencing on December 1, 1992).
(e) The term Payment Date shall mean the fifteenth day of
each month (or the last business day prior thereto) commencing on December 15,
1992 for monthly distributions, December 15 and June 15 of each year for
semi-annual distributions (commencing on December 15, 1992) and December 15 of
each year for annual distributions (commencing on December 15, 1992).
(f) All Certificateholders of record on November 1, 1992 (the
"First Record Date"), regardless of the plan of distribution selected, will
receive a distribution to be made on or shortly after November 15, 1992 (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.
(g) The First Settlement Date shall mean July 30, 1992.
(h) The number of Units referred to in Section 2.03 is 4,000.
(i) For the purposes of Section 4.02, the Evaluator shall
receive for each evaluation of the Bonds in the Trust a minimum fee of $8, 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).
-2-
1260.1
(j) For the purposes of Section 6.01(8), the liquidation
amount is hereby specified to be $1,600,000.
(k) For purposes of Section 6.04, the Trustee shall be paid
per annum $1.14 per $1,000 principal amount of Bonds for that portion of the
Trust under the monthly distribution plan, $.67 per $1,000 principal amount of
Bonds for that portion of the Trust under the semi-annual distribution plan and
$.40 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 $.97 per
Unit times the number of Units on the monthly distribution plan, $.67 per unit
plus $.30 of Trust expenses (to be assumed and paid by the Trustee) times the
number of Units on the semi-annual distribution plan and $.40 per Unit plus
$.57 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.
(l) For purposes of Section 7.05, the Depositors' maximum
annual fee is hereby specified to be $0.25 per $1,000 principal amount of Bonds
in the Trust.
(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.
(n) For purposes of this Series of Insured Municipal
Securities Trust, the execution date of this Indenture shall be the date first
written 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-
1260.1
GRUNTAL & CO. INCORPORATED
Depositor
By:/s/ Xxxxxx Xxxxxxxxx
Authorized Signator
STATE OF NEW YORK )
: ss.:
COUNTY OF NEW YORK)
On this 23rd day of July, 1992, before me personally appeared
Xxxxxx Xxxxxxxxx, to me know, who being by me duly sworn, said that he is an
Authorized Signator of Gruntal & Co. Incorporated, one of the corporations
described in and which executed and foregoing instrument, and that he signed
his name thereto by authority of the Board of Directors of said corporation.
/s/ Xxxxxxxx X. Xxxxxx
Notary Public
XXXXXXXX X. XXXXXX
Notary Public, State of New York
No. 00-0000000
Qualified in New York County
Commission Expires February 3, 0000
-0-
0000.0
XXXXXX XXXXXX TRUST COMPANY OF NEW YORK
Trustee
By:/s/ Xxxxxx X. Xxxxxxxx
Vice President
STATE OF NEW YORK )
:ss.:
COUNTY OF NEW YORK )
On this 7 day of July, 1992, before me personally appeared
Xxxxxx X. Xxxxxxxx, to me know, who being by me duly sworn, said that he is an
Authorized Signator 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.
/s/ Xxxxxxx X. Xxxxxxx
Notary Public
XXXXXXX X. XXXXXXX
NOTARY PUBLIC, State of New York
No. 01B04950864
Qualified in Richmond County
Commission Expires 5-8-93
-5-
1260.1
BEAR, XXXXXXX & CO. INC.
Depositor
By:/s/ Xxxxx X. XxXxxxx
Authorized Signator
STATE OF NEW YORK )
: ss:
COUNTY OF NEW YORK )
On this 23rd day of July, 1992, before me personally appeared
Xxxxx X. 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.
/s/ Xxxxxx Xxxxxx
Notary Public
XXXXXX XXXXXX
Notary Public, State of New York
No. 00-0000000
Qualified in the County of New York
Term Expires 8/31/92
-6-
1260.1
XXXXX INFORMATION SYSTEMS, INC.,
Evaluator
By:/s/
President
SEAL
ATTEST:
/s/
Senior Vice President/Director
-7-
1260.1
SCHEDULE A
INSURED MUNICIPAL SECURITIES TRUST
PORTFOLIO
NEW YORK NAVIGATOR INSURED SERIES 11
As of July 23, 1992
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 ost of Bonds
No. Amount Contracted for(4) Ratings(1) Date(2) Ref.-- Refunding(2) to Trust(3)
--- ------ ----------------- ---------- -------- ------------------- -----------
1 $ 525,000 N.Y. State Dorm. Auth. State Univ. Ed. Facs. AAA 6.750% 5/15/19 @ 100 S.F. $ 553,371
Xxx. Xxxxx Series 0000X (XXXX Corp.) 5/15/2021 5/15/02 @ 102 Ref.
2 250,000 N.Y. State Hsg. Finc. Agncy. Multi. Fam. AAA 7.650% No Sinking Fund 279,582
Hsg. Xxx. Xxxxx (MBIA Corp.) 3/15/2005 3/15/01 @ 102 Ref.
3 250,000 N.Y. State Med. Care Facs. Finc. Agncy. AAA 7.750% 2/15/11 @ 100 S.F. 279,470
Mental Hlth. Servs. Facs. Imprvmnt. Rev. 2/15/2020 2/15/00 @ 102 Ref.
Bonds 1990 Series A (MBIA Corp.)
4 100,000 N.Y. State Med. Care Facs. Finc. Agncy. AAA 6.200% No Sinking Fund 101,694
Hosp. & Nrsg. Facs. (MBIA Corp.) 8/15/2022 8/15/02 @ 102 Ref.
5 275,000 Metro. Trans. Auth. of N.Y. Trans. Facs. AAA 6.000% 7/01/10 @ 100 S.F. 275,000
Xxx. Xxxxx (MBIA Corp.) 7/01/2011 7/01/00 @ 100 Ref.
6 50,000 Metro Trans. Auth. of N.Y. Cmmtr. Facs. AAA 6.125% No Sinking Fund 50,000
Xxx. Xxxxx Series A (MBIA Corp.) 7/01/2012 7/01/02 @ 102 Ref.
7 300,000 Metro. Trans. Auth. of N.Y. Cmmtr. Facs. AAA 6.250% 7/01/18 @ 100 S.F. 303,762
Xxx. Xxxxx Series B (MBIA Corp.) 7/01/2022 7/01/02 @ 102 Ref.
8 250,000 N.Y. City Genl. Oblig. Xxx. Xxxxx Fiscal AAA 6.250% No Sinking Fund 254,222
1992 Series (MBIA Corp.) 8/01/2010 8/01/02 @ 101.5 Ref.
9 350,000 N.Y. City Genl. Oblig. Xxx. Xxxxx Fiscal AAA 7.000% No Sinking Fund 372,806
1992 Series H (MBIA Corp.) 2/02/2022 2/01/02 @ 101.5 Ref.
10 370,000 N.Y. City Muni. & Wtr. Finc. Auth. Wtr. & AAA 6.500% 6/15/19 @ 100 S.F. 379,136
Swr. Sys. Xxx. Xxxxx (MBIA Corp.) 6/15/2021 6/15/97 @ 101.5 Ref.
11 350,000 N.Y. City Muni. Wtr. Finc. Auth. Wtr. & AAA 6.000% No Sinking Fund 347,778
Swr. Sys. Xxx. Xxxxx Fiscal 1990 Series A 6/15/2016 6/15/99 @ 000 Xxx.
(XXXX Corp.)
12 500,000 Triborough Bridge & Tunnel Auth. of N.Y. AAA 6.000% 1/01/13 @ 100 S.F. 497,500
Spec. Oblig. Xxx. Xxxxx (MBIA Corp.) 1/01/2015 1/01/02 @ 101.5 Ref.
13 200,000 Triborough Bridge & Tunnel Auth. of N.Y. AAA 5.500% 1/01/16 @ 100 S.F. 187,254
Spec. Oblig. Xxx. Xxxxx (MBIA Corp.) 1/1/2017 1/01/02 @ 100 Ref.
14 230,000 N.Y. State Mtg. Agncy. Hmownr. Mtg. Rev. AAA 0.000% 4/01/12 @ 52.88 S.F. 27,501
Bonds Series II (MBIA Corp.) 4/01/2020 4/01/99 @ 19.34 Ref.
$4,000,000 $3,909,076
============= =============
-8-
1260.1
INSURED MUNICIPAL SECURITIES TRUST
NEW JERSEY NAVIGATOR INSURED SERIES 8
REFERENCE TRUST AGREEMENT
This Reference Trust Agreement dated July 23, 1992 among
Bear, Xxxxxxx & Co. Inc. and Gruntal & Co., Incorporated, as Depositors, United
States Trust Company of New York, as Trustee and Xxxxx S&P Evaluation Services,
a division of Xxxxx Information Systems, Inc., as Evaluator, sets forth certain
provisions in full and incorporates other provisions by reference to the
document entitled "Insured Municipal Securities Trust, 47th Discount Series and
Series 20, and Subsequent Series, Trust Indenture and Agreement" dated June 16,
1989 as amended in part by this Reference Trust Agreement (herein as amended or
supplemented called the "Indenture"). This Reference Trust Agreement and the
Indenture, as incorporated by reference herein, will constitute a single
instrument.
WITNESSETH THAT:
In consideration of the premises and of the mutual agreements
herein contained, the Depositors, 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.
For purposes of the references made to Section 7.04 in
Sections 3.05(d), 3.06(A)(3), 3.06(B)(3) and 7.05 of the Indenture, the
Indenture is hereby amended to delete such references made to Section 7.04 and
to substitute therefor references to Section 7.05.
(a) All references to the words "Standard & Poor's
Corporation" appearing therein are hereby deleted and the words "Xxxxx S&P
Evaluation Services, a division of Xxxxx Information Systems, Inc." are hereby
added in place thereof.
1187.1
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 fiscal year for the Trust shall end on June 30th of
each year.
(d) The term Record Date shall mean the first day of each
month (or the last business day prior thereto) commencing on December 1, 1992
for monthly distributions, December 1 and June 1 of each year for semi-annual
distributions (commencing on December 1, 1992) and December 1 of each year for
annual distributions (commencing on December 1, 1992).
(e) The term Payment Date shall mean the fifteenth day of
each month (or the last business day prior thereto) commencing on December 15,
1992 for monthly distributions, December 15 and June 15 of each year for
semi-annual distributions (commencing on December 15, 1992) and December 15 of
each year for annual distributions (commencing on December 15, 1992).
(f) All Certificateholders of record on November 1, 1992 (the
"First Record Date"), regardless of the plan of distribution selected, will
receive a distribution to be made on or shortly after November 15, 1992 (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.
(g) The First Settlement Date shall mean July 30, 1992.
(h) The number of Units referred to in Section 2.03 is 3,500.
(i) For the purposes of Section 4.02, the Evaluator shall
receive for each evaluation of the Bonds in the Trust a minimum fee of $8, 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).
-2-
1187.1
(j) For the purposes of Section 6.01(g), the liquida- tion
amount is hereby specified to be $1,400,000.
(k) For purposes of Section 6.04, the Trustee shall be paid
per annum $1.12 per $1,000 principal amount of Bonds for that portion of the
Trust under the monthly distribution plan, $.65 per $1,000 principal amount of
Bonds for that portion of the Trust under the semi-annual distribution plan and
$.38 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 $.95 per
Unit times the number of Units on the monthly distribution plan, $.65 per unit
plus $.30 of Trust expenses (to be assumed and paid by the Trustee) times the
number of Units on the semi-annual distribution plan and $.38 per Unit plus
$.57 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.
(l) For purposes of Section 7.05, the Depositors' maximum
annual fee is hereby specified to be $0.25 per $1,000 principal amount of Bonds
in the Trust.
(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.
(n) For purposes of this Series of Insured Municipal
Securities Trust, the execution date of this Indenture shall be the date first
written 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-
1187.1
GRUNTAL & CO. INCORPORATED
Depositor
By:/s/ Xxxxxx Xxxxxxxxx
Authorized Signator
STATE OF NEW YORK )
: ss.:
COUNTY OF NEW YORK)
On this 23rd day of July, 1992, before me personally appeared
Xxxxxx Xxxxxxxxx, to me know, who being by me duly sworn, said that he is an
Authorized Signator of Gruntal & Co. Incorporated, one of the corporations
described in and which executed and foregoing instrument, and that he signed
his name thereto by authority of the Board of Directors of said corporation.
/s/ Xxxxxxxx X. Xxxxxx
Notary Public
XXXXXXXX X. XXXXXX
Notary Public, State of New York
No. 00-0000000
Qualified in New York County
Commission Expires February 3, 0000
-0-
0000.0
XXXXXX XXXXXX TRUST COMPANY OF NEW YORK
Trustee
By:/s/ Xxxxxx X. Xxxxxxxx
Vice President
STATE OF NEW YORK )
:ss.:
COUNTY OF NEW YORK )
On this 7 day of July, 1992, before me personally appeared
Xxxxxx X. Xxxxxxxx, to me know, who being by me duly sworn, said that he is an
Authorized Signator 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.
/s/ Xxxxxxx X. Xxxxxxx
Notary Public
XXXXXXX X. XXXXXXX
NOTARY PUBLIC, State of New York
No. 01B04950864
Qualified in Richmond County
Commission Expires 5-8-93
-5-
1187.1
BEAR, XXXXXXX & CO. INC.
Depositor
By:/s/ Xxxxx X. XxXxxxx
Authorized Signator
STATE OF NEW YORK )
: ss:
COUNTY OF NEW YORK )
On this 23rd day of July, 1992, before me personally appeared
Xxxxx X. 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.
/s/ Xxxxxx Xxxxxx
Notary Public
XXXXXX XXXXXX
Notary Public, State of New York
No. 00-0000000
Qualified in the County of New York
Term Expires 8/31/92
-6-
1187.1
XXXXX INFORMATION SYSTEMS, INC.,
Evaluator
By:/s/
President
SEAL
ATTEST:
/s/
Senior Vice President/Director
-7-
1187.1
SCHEDULE A
INSURED MUNICIPAL SECURITIES TRUST
PORTFOLIO
NEW JERSEY NAVIGATOR INSURED SERIES 8
As of July 23, 1992
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(4) Ratings(1) Date(2) Ref.-- Refunding(2) to Trust(3)
--- ------ ----------------- ---------- -------- ------------------- -----------
1 $ 235,000 N.J. Ed. Facs. Auth. Xxx. Xxxxx Montclair AAA 6.500% 7/01/12 @ 100 S.F. $ 243,362
State Cllg. Issue Series 1991E (MBIA Corp.) 7/01/2021 7/01/01 @ 101 Ref.
2 600,000 N.J. Hlth. Care Facs. Fincg. Auth. Rev. AAA 6.500% 7/01/03 @ 100 S.F. 618,924
Bonds Bayshore Cmmnty. Hosp. Issue Series 7/01/2020 7/01/99 @ 000 Xxx.
0000X (XXXX Corp.)
3 525,000 N.J. Hlth. Care Facs. Fincg. Auth. Rev. AAA 6.000% 7/01/19 @ 100 S.F. 521,320
Bonds St. Barnabus Med. Cntr. Issue 7/01/2023 7/01/99 @ 100 Ref.
Series B (MBIA Corp.)
4 350,000 N.J. Tnpke. Auth. Tnpke. Xxx. Xxxxx Series AAA 6.500% 1/01/12 @ 100 S.F. 369,576
0000X (XXXX Corp.) 1/01/2016 Non-Callable
5 130,000 Essex Cnty. N.J. Imprvmnt. Auth. Pkg. Fac. AAA 6.200% 7/01/13 @ 100 S.F. 131,084
Xxx. Xxxxx Series 1992 (MBIA Corp.) 7/01/2022 7/01/02 @ 101 Ref.
6 330,000 Xxxxxx Cnty. N.J. Imprvmnt. Auth. Insrd. AAA 6.700% 4/01/08 @ 100 S.F. 346,342
Solid Waste Xxx. Xxxxx (Resource Rec. Prjt.) 4/01/2013 4/01/02 @ 000 Xxx.
Xxxxx. Xxxxxx 0000X (XXX) (XXXX Corp.)
7 335,000 Middlesex Cnty. N.J. Utils. Auth. Swr. Rev. AAA 6.000% 2/15/10 @ 100 S.F. 335,000
Bonds Series 0000 (XXXX Corp.) 8/15/2015 2/15/97 @ 100 Ref.
8 375,000 New Brunswick N.J. Hsg. & Urb. Dev. Auth. AAA 5.750% 7/01/13 @ 100 S.F. 359,156
Lease Xxx. Xxxxx Series 1992 (MBIA Corp.) 7/01/2024 7/01/02 @ 102 Ref.
9 250,000 No. Jersey Dstrct. Wtr. Supl. Comm. AAA 6.250% 11/15/12 @ 100 S.F. 255,052
Wanaque No. Prjt. Rev. Rfndg. Bonds Series 1/15/2017 11/15/01 @ 000 Xxx.
0000X (XXXX Corp.)
10 215,000 Port. Auth. of N.Y. & N.J. Cnsldtd. Rev. AAA 6.500% 7/15/13 @ 100 S.F. 222,426
Bonds Seventy-first Series (MBIA Corp.) 1/15/2026 1/15/01 @ 101 Ref.
11 100,000 Camden Cnty. N.J. Muni. Utils. Auth. Cnty. AAA 0.000% No Sinking Fund 22,416
Agreement Swr. Rev. Cap. Apprec. Bonds 9/01/2016 Non-Callable
Series 0000X (XXXX Corp.)
12 55,000 Camden Cnty. N.J. Muni. Utils. Auth. Cnty. AAA 0.000% No Sinking Fund 11,586
Agreement Swr. Rev. Cap. Apprec. Bonds 9/01/2017 Non-Callable
Series 0000X (XXXX Corp.)
$3,500,000 $3,436,244
============= ============
-8-
1187.1
INSURED MUNICIPAL SECURITIES TRUST
SERIES 30
REFERENCE TRUST AGREEMENT
This Reference Trust Agreement dated November 6, 1992 among
Bear, Xxxxxxx & Co. Inc. and Gruntal & Co., Incorporated, as Depositors, United
States Trust Company of New York, as Trustee and Xxxxx S&P Evaluation Services,
a division of Xxxxx Information Systems, Inc., as Evaluator, sets forth certain
provisions in full and incorporates other provisions by reference to the
document entitled "Insured Municipal Securities Trust, 47th Discount Series and
Series 20, and Subsequent Series, Trust Indenture and Agreement" dated June 16,
1989 as amended in part by this Reference Trust Agreement (herein as amended or
supplemented called the "Indenture"). This Reference Trust Agreement and the
Indenture, as incorporated by reference herein, will constitute a single
instrument.
WITNESSETH THAT:
In consideration of the premises and of the mutual agreements
herein contained, the Depositors, 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.
For purposes of the references made to Section 7.04 in
Sections 3.05(d), 3.06(A)(3), 3.06(B)(3) and 7.05 of the Indenture, the
Indenture is hereby amended to delete such references made to Section 7.04 and
to substitute therefor references to Section 7.05.
(a) All references to the words "Standard and Poor's
Corporation" appearing therein are hereby deleted and the words "Xxxxx S&P
Evaluation Services, a division of Xxxxx Information Systems, Inc." are hereby
added in place thereof.
84994.1
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 fiscal year for the Trust shall end on June 30 of
each year.
(d) The term Record Date shall mean the first day of each
month (or the last business day prior thereto) commencing on April 1, 1993 for
monthly distributions, December 1 and June 1 of each year for semi-annual
distributions (commencing on June 1, 1993) and December 1 of each year for
annual distributions (commencing on December 1, 1993).
(e) The term Payment Date shall mean the fifteenth day of
each month (or the last business day prior thereto) commencing on April 1, 1993
for monthly distributions, December 15 and June 15 of each year for semi-annual
distributions (commencing on June 15, 1993) and December 15 of each year for
annual distributions (commencing on December 15, 1993).
(f) All Certificateholders of record on March 1, 1993 (the
"First Record Date"), regardless of the plan of distribution selected, will
receive a distribution to be made on or shortly after March 15, 1993 (the
"First Payment Date"), and thereafter distributions will be made monthly,
semi-annually or annually, depending upon the plan of distribution chosen by
each Certifi-cateholder.
(g) The First Settlement Date shall mean November 16, 1992.
(h) The number of Units referred to in Section 2.03 is 5,000.
(i) For the purposes of Section 4.02, the Evaluator shall
receive for each evaluation of the Bonds in the Trust a minimum fee of $8, 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).
-2-
84994.1
(j) For the purposes of Section 6.01(g), the liquidation
amount is hereby specified to be $2,000,000.
(k) For purposes of Section 6.04, the Trustee shall be paid
per annum $1.00 per $1,000 principal amount of Bonds for that portion of the
Trust under the monthly distribution plan, $.52 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 $.83 per
Unit times the number of Units on the monthly distribution plan, $.52 per unit
plus $.31 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
$.50 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.
(l) For purposes of Section 7.05, the Depositors' maximum
annual fee is hereby specified to be $0.25 per $1,000 principal amount of Bonds
in the Trust.
(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.
(n) For purposes of this Series of Insured Municipal
Securities Trust, the execution date of this Indenture shall be the date first
written 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-
84994.1
GRUNTAL & CO. INCORPORATED
Depositor
By:/s/ Xxxxxx Xxxxxxxxx
Authorized Signator
STATE OF NEW YORK )
: ss.:
COUNTY OF NEW YORK)
On this 6th day of November, 1992, before me personally
appeared Xxxxxx Xxxxxxxxx, to me know, who being by me duly sworn, said that he
is an Authorized Signator of Gruntal & Co. Incorporated, one of the
corporations described in and which executed and foregoing instrument, and that
he signed his name thereto by authority of the Board of Directors of said
corporation.
/s/ Xxxxxxxx X. Xxxxxx
Notary Public
XXXXXXXX X. XXXXXX
Notary Public, State of New York
No. 00-0000000
Qualified in New York County
Commission Expires February 3, 0000
-0-
00000.0
XXXXXX XXXXXX TRUST COMPANY OF NEW YORK
Trustee
By:/s/ Xxxxxx X. Xxxxxxxx
Vice President
STATE OF NEW YORK )
:ss.:
COUNTY OF NEW YORK )
On this 15 day of October, 1992, before me personally
appeared Xxxxxx X. Xxxxxxxx, to me know, who being by me duly sworn, said that
he is an Authorized Signator 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.
/s/ Xxxxxxx X. Xxxxxxx
Notary Public
XXXXXXX X. XXXXXXX
NOTARY PUBLIC, State of New York
No. 01B04950864
Qualified in Richmond County
Commission Expires 5-8-93
-5-
84994.1
BEAR, XXXXXXX & CO. INC.
Depositor
By:/s/ Xxxxx X. XxXxxxx
Authorized Signator
STATE OF NEW YORK )
: ss:
COUNTY OF NEW YORK )
On this 6th day of November, 1992, before me personally
appeared Xxxxx X. 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.
/s/ Xxxxxxxx X. Xxxxxx
Notary Public
XXXXXXXX X. XXXXXX
Notary Public, State of New York
No. 00-0000000
Qualified in New York County
Commission Expires February 3, 1994
-6-
84994.1
XXXXX INFORMATION SYSTEMS, INC.,
Evaluator
By:/s/
President
SEAL
ATTEST:
/s/
Senior Vice President/Director
-7-
84994.1
SCHEDULE A
INSURED MUNICIPAL SECURITIES TRUST
PORTFOLIO
SERIES 30
As of November 6, 1992
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(2) Opt. - Optional(2)(3) to Trust(4)
--- ------ ----------------- ---------- -------- --------------------- -----------
1 $ 500,000(4) Volusia Cnty. Fla. Ed. Fac. Auth. Xxx. Xxxxx AAA 6.625% 10/15/16 @ 100 S.F. $ 503,045
(Xxxxx-Xxxxxx Aeronautical Univ.) (Xxxxxx 10/15/2022 10/15/02 @ 102 Opt.
Xxx)
2 400,000 Iowa Finc. Auth. Hosp. Xxx. Xxxxx (Sisters AAA 6.250% 2/15/09 @ 100 S.F. 384,404
of Mercy Hlth. Corp. Oblig. Group) 1992 2/15/2022 2/15/02 @ 102 Opt.
Series N (Financial Security)
3 250,000 Me. Hlth. & Hghr. Ea. Facs. Auth. Hosp. AAA 6.375% 10/01/12 @ 100 S.F. 244,337
Xxx. Xxxxx Ea. Me. Hlthcare. Issue Series 10/01/2021 10/01/01 @ 102 Opt.
1991 (Financial Guaranty)
4 220,000 Humbolt Cnty. Nv. Poll. Cntrl. Rfndg. Rev. AAA 6.550% No Sinking Fund 220,000
Bonds (Sierra Pacific Pwr. Co. Prjt.) Series 10/01/2013 5/28/02 @ 102 Opt.
1987 (AMBAC)
5 500,000 Sand Springs Ok. Muni. Auth. Wtr. & Swr. AAA 6.500% 5/01/08 @ 100 S.F. 497,260
Sys. Rev. Rfndg. Bonds (AMBAC) 5/01/2012 5/01/02 @ 102 Opt.
6 500,000 R.I. Depositors Econom. Protection Corp. AAA 6.625% 8/01/14 @ 100 S.F. 502,970
Spec. Oblig. Bonds 1992 Series A (Financial 8/01/2019 8/01/02 @ 102 Opt.
Security)
7 500,000 City of Bristol Tn. Hlth. & Ed. Facs. Bd. AAA 7.000% 9/01/12 @ 100 S.F. 518,520
Hosp. Xxx. Xxxxx (Bristol Mem. Hosp.) 9/01/2021 3/01/01 @ 102 Opt.
Series 1991 (Financial Guaranty)
8 500,000 Tx. Wtr. Res. Finc. Auth. Xxx. Xxxxx Series AAA 7.500% 2/15/09 @ 100 S.F. 526,985
1989 (AMBAC) 8/15/2013 2/15/99 @ 100 Opt.
9 675,000 Xxxxxxxxxx Cnty. Tx. Hosp. Dstrct. Rev. AAA 6.625% 4/01/10 @ 100 S.F. 678,963
Bonds (Financial Security) 4/01/2017 4/01/02 @ 102 Opt.
10 605,000 Sabine Rvr. Auth. of Tx. Colltzd. Poll. Xxxxx.XXX 6.550% No Sinking Fund 605,000
Rev. Rfndg. Bonds (Tx. Utils. Elec. Co. Prjt.) 10/01/2022 10/01/02 @ 102 Opt.
Series 1992 (Financial Guaranty)
11 250,000 Mo. Hlth. & Ed. Facs. Auth. Hlth. Facs. Rev. AAA 0.000% No Sinking Fund 41,050
Bonds (Xxxxxx X. Xxx Med. Cntrs. Prjt.) 9/01/2020 None
Series 1992-H (MBIA Corp.)
12 000,000 Xxxx xx Xxxxxx Xx. (Dallas, Denton & Collin AAA 0.000% No Sinking Fund 14,600
Cntys.) Civic Cntr. Cnvntn. Cmplx. Sr. Lien 1/01/2021 1/01/06 @ 34.967 Opt.
Xxx. Xxxxx Series 1991 (AMBAC)
$5,000,000 $4,737,134
============= =============
-8-
84994.1
INSURED MUNICIPAL SECURITIES TRUST
NEW YORK NAVIGATOR INSURED SERIES 12
REFERENCE TRUST AGREEMENT
This Reference Trust Agreement dated November 6, 1992 among
Bear, Xxxxxxx & Co. Inc. and Gruntal & Co., Incorporated, as Depositors, United
States Trust Company of New York, as Trustee and Xxxxx S&P Evaluation Services,
a division of Xxxxx Information Systems, Inc., as Evaluator, sets forth certain
provisions in full and incorporates other provisions by reference to the
document entitled "Insured Municipal Securities Trust, 47th Discount Series and
Series 20, and Subsequent Series, Trust Indenture and Agreement" dated June 16,
1989 as amended in part by this Reference Trust Agreement (herein as amended or
supplemented called the "Indenture"). This Reference Trust Agreement and the
Indenture, as incorporated by reference herein, will constitute a single
instrument.
WITNESSETH THAT:
In consideration of the premises and of the mutual agreements
herein contained, the Depositors, 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.
For purposes of the references made to Section 7.04 in
Sections 3.05(d), 3.06(A)(3), 3.06(B)(3) and 7.05 of the Indenture, the
Indenture is hereby amended to delete such references made to Section 7.04 and
to substitute therefor references to Section 7.05.
(a) All references to the words "Standard & Poor's
Corporation" appearing therein are hereby deleted and the words "Xxxxx S&P
Evaluation Services, a division of Xxxxx Information Systems, Inc." are hereby
added in place thereof.
84993.1
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 fiscal year for the Trust shall end on June 30th of
each year.
(d) The term Record Date shall mean the first day of each
month (or the last business day prior thereto) commencing on April 1, 1993 for
monthly distributions, December 1 and June 1 of each year for semi-annual
distributions (commencing on June 1, 1993) and December 1 of each year for
annual distributions (commencing on December 1, 1993).
(e) The term Payment Date shall mean the fifteenth day of
each month (or the last business day prior thereto) commencing on April 15,
1993 for monthly distributions, December 15 and June 15 of each year for
semi-annual distributions (commencing on June 15, 1993) and December 15 of each
year for annual distributions (commencing on December 15, 1993).
(f) All Certificateholders of record on March 1, 1993 (the
"First Record Date"), regardless of the plan of distribution selected, will
receive a distribution to be made on or shortly after March 15, 1993 (the
"First Payment Date"), and thereafter distributions will be made monthly,
semi-annually or annually, depending upon the plan of distribution chosen by
each Certifi-cateholder.
(g) The First Settlement Date shall mean November 16, 1992.
(h) The number of Units referred to in Section 2.03 is 5,000.
(i) For the purposes of Section 4.02, the Evaluator shall
receive for each evaluation of the Bonds in the Trust a minimum fee of $8, 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).
-2-
84993.1
(j) For the purposes of Section 6.01(8), the liquidation
amount is hereby specified to be $2,000,000.
(k) For purposes of Section 6.04, the Trustee shall be paid
per annum $1.04 per $1,000 principal amount of Bonds for that portion of the
Trust under the monthly distribution plan, $.56 per $1,000 principal amount of
Bonds for that portion of the Trust under the semi-annual distribution plan and
$.37 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 $.87 per
Unit times the number of Units on the monthly distribution plan, $.56 per unit
plus $.31 of Trust expenses (to be assumed and paid by the Trustee) times the
number of Units on the semi-annual distribution plan and $.37 per Unit plus
$.50 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.
(l) For purposes of Section 7.05, the Depositors' maximum
annual fee is hereby specified to be $0.25 per $1,000 principal amount of Bonds
in the Trust.
(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.
(n) For purposes of this Series of Insured Municipal
Securities Trust, the execution date of this Indenture shall be the date first
written 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-
84993.1
GRUNTAL & CO. INCORPORATED
Depositor
By:/s/ Xxxxxx Xxxxxxxxx
Authorized Signator
STATE OF NEW YORK )
: ss.:
COUNTY OF NEW YORK)
On this 6th day of November, 1992, before me personally
appeared Xxxxxx Xxxxxxxxx, to me know, who being by me duly sworn, said that he
is an Authorized Signator of Gruntal & Co. Incorporated, one of the
corporations described in and which executed and foregoing instrument, and that
he signed his name thereto by authority of the Board of Directors of said
corporation.
/s/ Xxxxxxxx X. Xxxxxx
Notary Public
XXXXXXXX X. XXXXXX
Notary Public, State of New York
No. 00-0000000
Qualified in New York County
Commission Expires February 3, 0000
-0-
00000.0
XXXXXX XXXXXX TRUST COMPANY OF NEW YORK
Trustee
By:/s/ Xxxxxx X. Xxxxxxxx
Vice President
STATE OF NEW YORK )
:ss.:
COUNTY OF NEW YORK )
On this 15 day of October, 1992, before me personally
appeared Xxxxxx X. Xxxxxxxx, to me know, who being by me duly sworn, said that
he is an Authorized Signator 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.
/s/ Xxxxxxx X. Xxxxxxx
Notary Public
XXXXXXX X. XXXXXXX
NOTARY PUBLIC, State of New York
No. 01B04950864
Qualified in Richmond County
Commission Expires 5-8-93
-5-
84993.1
BEAR, XXXXXXX & CO. INC.
Depositor
By:/s/ Xxxxx X. XxXxxxx
Authorized Signator
STATE OF NEW YORK )
: ss:
COUNTY OF NEW YORK )
On this 6th day of November, 1992, before me personally
appeared Xxxxx X. 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.
/s/ Xxxxxxxx X. Xxxxxx
Notary Public
XXXXXXXX X. XXXXXX
Notary Public, State of New York
No. 00-0000000
Qualified in New York County
Commission Expires February 3, 1994
-6-
84993.1
XXXXX INFORMATION SYSTEMS, INC.,
Evaluator
By:/s/
President
SEAL
ATTEST:
/s/
Senior Vice President/Director
-7-
84993.1
Revised Schedule A
INSURED MUNICIPAL SECURITIES TRUST
PORTFOLIO
NEW YORK NAVIGATOR INSURED SERIES 12
As of November 6, 1992
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(2) Opt.--Optional(2)(3) to Trust(4)
--- ------ ----------------- ---------- -------- -------------------- -----------
1 $ 500,000 N.Y. State Dorm. Auth. Rev. Rfndg. Bonds AAA 7.250% 5/15/09 @ 100 S.F. $ 526,310
State Univ. Ed. Facs. Series 0000X (XXXX 5/15/2015 5/15/00 @ 102 Opt.
Corp.)
2 500,000 N.Y. State Dorm. Auth. State Univ. Ed. Facs. AAA 6.500% 5/15/14 @ 100 S.F. 500,000
Xxx. Xxxxx Series 0000X (XXXX Corp.) 5/15/2019 5/15/00 @ 100 Opt.
3 690,000 N.Y. State Med. Care. Facs. Finc. Agncy. AAA 6.875% No Sinking Fund 710,362
Hosp. & Nrsg. Home Insrd. Mtg. Xxx. Xxxxx 2/15/2032 2/15/02 @ 102 Opt.
Series 0000X (XXXX Corp.)
4 250,000 N.Y. State Thruway Auth. Genl. Xxx. Xxxxx AAA 5.500% 1/01/20 @ 100 S.F. 221,592
Series A (MBIA Corp.) 1/01/2023 1/01/02 @ 100 Opt.
5 500,000 Metro. Trans. Auth. of N.Y. Transit Facs. AAA 6.000% 7/01/16 @ 100 S.F. 470,720
1987 Serv. Cntrct. Xxx. Xxxxx Series 6 7/01/2021 7/01/01 @ 100 Opt.
(MBIA Corp.)
6 550,000 N.Y. City Genl. Oblig. Xxx. Xxxxx Fiscal AAA 6.250% No Sinking Fund 533,121
1993 Series A (MBIA Corp.) 8/01/2017 8/01/02 @ 101.5 Opt.
7 500,000 N.Y. City Genl. Oblig. Xxx. Xxxxx Fiscal AAA 7.000% No Sinking Fund 517,630
1992 Series H (MBIA Corp.) 2/01/2016 2/01/02 @ 101.5 Opt.
8 330,000 N.Y. Local Gov. Assis. Corp. (A Pub. AAA 6.500% 4/01/19 @ 100 S.F. 330,000
Benefit Corp. of the State of N.Y.) Rev. 4/01/2020 4/01/01 @ 102 Opt.
Bonds Series 0000X (XXXX Corp.)
9 695,000 N.Y. City Muni. Wtr. Finc. Auth. Wtr. & AAA 6.375% 6/15/21 @ 100 S.F. 679,120
Swr. Sys. Xxx. Xxxxx Fiscal 1993 Series B 6/15/2022 6/15/02 @ 101 Opt.
(MBIA Corp.)
10 235,000 Triborough Bridge & Tunnel Auth. of N.Y. AAA 6.000% 1/01/04 @ 100 S.F. 223,757
Convntn. Cntr. Prjt. Bonds Series E (MBIA 1/01/2011 None
Corp.)
11 250,000 N.Y. State Mtg. Agncy. Hmownr. Mtg. Rev. AAA 0.000% 4/01/12 @ 52.88 S.F. 23,912
Bonds Series II (MBIA Corp.) 4/01/2020 4/01/99 @ 19.34 Opt.
$5,000,000 $4,736,524
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84993.1
