INSURED MUNICIPAL SECURITIES TRUST
NEW YORK NAVIGATOR INSURED SERIES 3
AMENDED REFERENCE TRUST AGREEMENT
This Amended Reference Trust Agreement dated May 1, 1991 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, amends that certain
"Insured Municipal Securities Trust, 47th Discount Series and Series 20, and
Subsequent Series, Trust Indenture and Agreement" dated June 16, 1989 (the
"Indenture"), as amended by that certain "Insured Municipal Securities Trust,
New York Navigator Insured Series 3, Reference Trust Agreement" dated June 28,
1990 among Bear, Xxxxxxx & Co. Inc. and Gruntal & Co., Incorporated, as
Depositors, United States Trust Company, as Trustee and Standard & Poor's
Corporation, as Evaluator (the "Reference Trust Agreement").
WITNESSETH THAT:
Pursuant to the provisions of Section 9.01 of the Indenture,
the Depositors, Trustee and Evaluator hereby agree to amend the Reference Trust
Agreement in order to correct certain typographical errors contained in that
Agreement and to restate certain portions of that Agreement so as to reflect
properly the intent of the parties hereto. The parties hereto, therefore, agree
as follows:
That paragraphs (g) and (i) of Part II of the Reference Trust
Agreement be amended in their entirety to read as follows:
"(g) The First Settlement Date shall mean July 6, 1990.
(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)."
IN WITNESS WHEREOF, the parties hereto have caused this
Amended Reference Trust Agreement to be duly executed on the date first above
written.
[Signatures on separate pages]
480138.1
BEAR, XXXXXXX & CO. INC.
Depositor
By:
-----------------------
Authorized Signator
STATE OF NEW YORK )
: ss.:
COUNTY OF NEW YORK )
On this 1st day of May, 1991, 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.
--------------------------
Notary Public
480138.1
-2-
GRUNTAL & CO. INCORPORATED
Depositor
By:
-----------------------
Authorized Signator
STATE OF NEW YORK )
: ss.:
COUNTY OF NEW YORK )
On this 1st day of May, 1991, before me personally appeared
Xxxxxx Xxxxxxx, to me known, 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 the foregoing instrument, and that be signed his
name thereto by authority of the Board of Directors of said corporation.
--------------------------
Notary Public
480138.1
-0-
XXXXXX XXXXXX TRUST COMPANY OF
NEW YORK, Trustee
By:
---------------------------
Assistant Vice President
STATE OF NEW YORK )
: ss.:
COUNTY OF NEW YORK )
On this ____ day of _______________________, 199_, 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 ____________ name thereto by
like authority.
-------------------------
Notary Public
480138.1
-4-
XXXXX INFORMATION SYSTEMS, INC.,
Evaluator
By:
----------------------------
President
SEAL
ATTEST:
-------------------------------
Executive Vice President
and Secretary
480138.1
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