CUSTODIAN AGREEMENT
WHEREAS, TWENTIETH CENTURY STRATEGIC ASSET ALLOCATIONS, INC., a
Maryland corporation ("Corporation") desires to appoint a custodian with respect
to certain monies received from shareholders for the purchase of its shares; and
WHEREAS, UMB BANK, N.A., a nationally-chartered banking association
("Custodian"), desires to serve as a custodian for these assets of the
Corporation;
NOW, THEREFORE, in consideration of the mutual promises herein
contained, and other good and valuable consideration, the parties hereto agree
as follows:
1. During the term of this Agreement the Corporation shall maintain one
or more custody accounts (the "Accounts") with the Custodian and shall deposit
in the Accounts all Automated Clearing House (ACH) purchases designated for the
Corporation in payment for its shares.
2. The Custodian shall process all ACH purchases pursuant to that
certain Electronic Entries Agreement dated September 13, 1994, between the
Custodian and Twentieth Century Services, Inc.
3. The Custodian promptly and in a business-like manner shall process
the items so deposited in the Accounts and remit the funds deposited to United
States Trust Company of New York, the Corporation's Custodian, for deposit in
Corporation's accounts there. Any funds not remitted by the close of each day
shall be invested for the Corporation's benefit in such manner as the
Corporation and Custodian may from time to time agree upon. All income from such
investments shall be deposited in the Accounts. No funds shall be invested or
otherwise utilized for the benefit of the Custodian.
4. (a) The Custodian shall no later than 9 a.m. on every day
(Saturdays, Sundays and Holidays excluded) report to the Corporation the balance
in the Accounts and the amounts available for transfer to United States Trust
Company of New York.
(b) The Custodian shall furnish monthly bank statements of the
Accounts in the usual form.
(c) At least monthly the Custodian shall provide the Corporation
with an account analysis showing average ledger and collected balance for the
month, total items processed and other bank services used during the period.
5. If the Corporation instructs the Custodian in any capacity to take
any action with respect to any funds held by it hereunder, which action might
subject the Custodian in the opinion of the Custodian to liability for any cost,
loss, damage or expense, as a prerequisite to taking such action the Custodian
shall be and be kept indemnified in an amount and form satisfactory to it.
6. This Agreement may be terminated by the Corporation in whole or in
part upon ten (10) days written notice delivered to the Custodian at 00xx &
Xxxxx Xxxxxxx, Xxxxxx Xxxx, Xxxxxxxx 00000 (mailing address X.X. Xxx 000000,
Xxxxxx Xxxx, Xxxxxxxx 64141) or by the Custodian upon sixty (60) days written
notice delivered to the Corporation at 0000 Xxxx Xxxxxx, Xxxxxx Xxxx, Xxxxxxxx
00000 (mailing address X.X. Xxx 000000, Xxxxxx Xxxx, Xxxxxxxx 00000), and each
party may from time to time designate another address to which such notice shall
be delivered. Such notices shall be sent by registered mail and shall be deemed
delivered when deposited in the United States Mail, postage prepaid. In the
event of the inability of the Custodian to serve or other termination of this
Agreement by either party, the Corporation shall forthwith appoint a custodian
which qualifies as such under the Investment Company Act of 1940 or any other
applicable law and the Custodian shall deliver all funds to such successor
custodian (or to any other Custodian of the Corporation's assets) and such
delivery shall constitute a full and complete discharge of the Custodian's
obligations hereunder. If no such successor shall be found and there should be
no other custodian, the Corporation shall submit to the holders of shares of its
capital stock, before permitting delivery of such cash to anyone other than a
qualified custodian, the question whether the Corporation shall be dissolved or
shall function without a Custodian; and pending such decision the Custodian
shall,
(a) continue to hold the Accounts, or
(b) deliver the funds in the Accounts, and all other assets, if any,
to a Bank or Trust Company selected by it, such funds and assets to be held
subject to the terms of custody hereunder and any such delivery shall be a full
and complete discharge of its obligations hereunder.
7. If the Corporation shall be liquidated while this Agreement is in
force, the Custodian shall distribute the property of the Corporation to
creditors and shareholders in such manner as the Corporation may direct.
IN WITNESS WHEREOF, each of the parties hereto has caused this
Agreement to be executed in its name and on its behalf by its officer or
officers duly authorized, as of the 1st day of February, 1996.
TWENTIETH CENTURY STRATEGIC ASSET ALLOCATIONS, INC.
By: /s/Xxxxx X. Xxxxxxx III
----------------------------
President
UMB BANK, N.A.
By: /s/Xxxxxxx X. Xxxxxxx
-------------------------
Xxxxxxx X. Xxxxxxx, Vice President
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