FIFTH THIRD BANK
GLOBAL CUSTODY ADDENDUM
This GLOBAL CUSTODY ("ADDENDUM") dated as of February 11, 2000 by
and between Capstone Christian Values Fund, Inc. (the
"Customer"), and FIFTH THIRD BANK, a banking corporation
organized pursuant to the laws of the State of Ohio ("Bank"), is
made as an addendum to the Custody Agreement dated February 11,
2000 (the "Custody Agreement") between the Customer and Bank;
WHEREAS, Bank has been appointed by Customer as the
Custodian of the assets of its portfolio of funds and Customer
desires to establish one or more custody accounts through Bank
for Global Custody;
NOW, THEREFORE, in consideration of the premises and of the
mutual promises and covenants contained herein, the parties
hereto agree as follows:
1. Appointment of Bank as Global Custodian. Bank is
hereby authorized and directed to, and shall, open and maintain
one or more custody accounts (the "Account") in such name or
names as Customer may, from time to time, direct; and will
accept, in accordance with the terms hereof, all cash and
currency (collectively referred to herein as "Cash") and all
securities, instruments and other intangible assets as may be
agreed upon by Bank and Customer which shall from time to time be
delivered to or received by it or any Sub-custodian in the United
States or in a country approved by Customer for deposit in or
otherwise held in the Account (collectively referred to herein as
"Securities") (Cash and Securities are collectively referred to
herein as "Assets"). Bank assumes no obligation to review
investments in the Account or to recommend the purchase,
retention or sale of any Assets unless provided for by a separate
written agreement between the parties.
2. Maintenance of Assets Outside the United States. Bank
is hereby authorized and directed to hold the Assets in the
countries with the Sub-custodians set forth on Schedule A annexed
hereto (the "Foreign Sub-custodians"), which Schedule A may be
amended (by deleting, adding or changing Sub-custodians or
deleting countries) from time to time by Bank without Customer
approval. Bank shall notify (either orally or in writing)
Customer of any such amendment or change.
3. Foreign Sub-Custodians. Except as may otherwise be
agreed upon in writing, Assets of the Fund shall at all times be
maintained in custody of an "Eligible Foreign Custodian" as
defined in or exempt under the 1940 Act. With respect to holding
Property with an Eligible Foreign Custodian, it is expressly
understood and agreed that:
(i) Bank will endeavor, to the extent feasible,
to hold securities in the country or other jurisdiction
in which the principal trading market for such
Securities is located, where such Securities are to be
presented for cancellation and/or payment and/or
registration, or where such Securities are acquired;
(ii) Cash which is maintained in a foreign country
will be in any currency which may be legally held in
such country and may be held in non-interest bearing
accounts;
(iii) Foreign Sub-custodians may hold
Securities in central securities depositories or
clearing agencies in which such participates;
(iv) Unless otherwise agreed to in writing by the
parties hereto or otherwise required by local law or
practice, Securities deposited with Eligible Foreign
Custodians will be held in a commingled account in the
name of Bank or its designee sub-custodian as custodian
or trustee for its customers;
(v) Settlement of and payment for Securities
received for, and delivered from the Account may be
made in accordance with the customary or established
securities trading or securities processing practices
and procedures in the jurisdiction or market in which
the transaction occurs,
including without limitation, the delivery of Securities to a
purchaser, broker, dealer or their prospective agents
either against a receipt for future payment or without
any payment (so-called "free delivery"); and
(vi) Customer is solely responsible for the
payment of and the reclamation, where applicable, of
taxes. Bank will, however, cooperate with Customers in
connection with Customer's payment or reclamation of
taxes and shall make the necessary filings in
connection with obtaining tax exemptions and tax
reclamations which are available to the Customer.
4. Powers of Bank. (a) General Powers. Subject to
and in accordance with Customer's instruction, Bank, as
Customer's agent, and for the account and risk of Customer, is
hereby authorized and empowered, with respect to Securities held
outside the United States with Foreign Sub-custodians, to
authorize and empower Foreign Sub-custodians to:
(i) receive and deliver Property;
(ii) receive all payments of principal, interest,
dividends and other income and distributions payable
with respect to Property;
(iii) exchange Securities in temporary or
bearer form for Securities in definitive or registered
form; effect an exchange of shares where the par value
of stock is changed; and surrender Securities at
maturity or earlier when advised of a call for
redemption (provided, however,that Bank shall not be
liable for failure to so exchange or surrender any
security or take other action (A) if notice of such
exchange or call for redemption or other action was not
actually received by Bank from the issuer (with respect
to Securities issued in the United States) or from one
of the nationally or internationally recognized bond or
corporate action services to which Bank subscribes or
from the Customer or (B) if, at the time of deposit,
any Security so deposited is subject to call, exchange,
redemption or similar action, unless specifically
instructed to do so by Customer);
(iv) hold Property (A) in its vaults, (B) at a
domestic or foreign entity that provides handling,
clearing or safekeeping service, (C) with issuer in non-
certificated form, (D) on Federal Book Entry at the
Federal Reserve Bank or (E) with the prior approval of
Customer at any other location;
(v) register and/or hold Property in the name of
any nominee of Bank or its Foreign Sub-custodians or
any of their respective nominees or any authorized
agent, subsidiary or other entity, including (without
limiting the generality of the foregoing) the nominee
of any central depository, clearing corporation or
other entity with which securities may be deposited
(and Customer hereby indemnifies and holds harmless
Bank and any such nominee against any liability as a
holder of record);
(vi) hold any investment in bearer form;
(vii) in connection with the receipt of
Property, accept documents in lieu of such Property as
long as such documents contain the agreement of the
issuer thereof to hold such Property subject to Bank's
sole order;
(viii) make, execute, acknowledge and deliver
as agent, any and all documents or instruments
(including but not limited to all declarations,
affidavits and certificates of ownership) that may be
necessary or appropriate to carry out the powers
granted herein;
(ix) employ and consult with, and obtain advice
from, suitable agents, including auditors and legal
counsel (who may be counsel to Customer or the Bank or
other advisers, and Bank shall incur no liability in
acting in good faith in accordance with the reasonable
advice and opinion of such agents or advisers;
(x) make any payments incidental to or in
connection with this paragraph 3(a); and
(xi) exercise all other rights and powers and to
take any action it deems necessary in carrying out the
purposes of this Agreement.
(b) Discretionary Corporate Action. Whenever Securities or
instruments (including, but not limited to, warrants, options,
tenders, options to tender or non-mandatory puts or calls) confer
optional rights on Customer or provide for discretionary action
or alternative courses of action by Customer, Customer shall be
responsible for making any decisions relating thereto and for
instructing Bank to act. In order for Bank to act, it must
receive Customer's instructions at Bank's offices, addressed as
Bank may from time to time request, by no later than noon
(Eastern Standard Time) at least two (2) business days prior to
the last scheduled date to act with respect to such securities or
instruments (or such earlier date or time as Bank may notify
Customer). Absent Bank's timely receipt of such instruction,
Bank shall not be liable for failure to take any action relating
to or to exercise any rights conferred by such securities or
instruments.
(c) Voting. With respect to all Securities, however
registered, the voting rights are to be exercised by Customer or
its designee. With respect to Securities issued in the United
States, Bank's only duty shall be to mail to Customer any
documents (including proxy statements, annual reports and signed
proxies) relating to the exercise of such voting rights. With
respect to Securities issued outside the United States at the
request of Customer, Bank will provide Customer with access to a
provider of global proxy services (the cost of which will be paid
by Customer). If Customer determines not to utilize the services
of such global proxy services provider, Bank will endeavor to
provide Customer with proxy material actually received by Bank
from Sub-Custodians, but otherwise shall have no obligations with
respect to voting.
(d) Foreign Exchange Transactions. Bank, as principal, is
authorized to enter into spot or forward foreign exchange
contracts with Customer and may provide such foreign exchange
services to Customer through its subsidiaries or affiliates or
through Foreign Sub-Custodians. Instructions, including standing
instructions, may be issued with respect to such contracts, but
Bank may establish rules or limitations concerning any foreign
exchange facility made available to Customer. In all cases where
Bank, its subsidiaries or affiliates or Foreign Sub-custodians
enter into foreign exchange contracts relating to the Account,
the terms and conditions of such foreign exchange contracts shall
apply to such transaction. Neither Bank nor any Foreign Sub-
custodian shall be liable for any fluctuations or changes in
foreign exchange rates, which shall be the sole risk and
liability of Customer.
5. Agreements with Foreign Sub-Custodians. Each agreement
with a Foreign Sub-custodian shall provide that: (a) the Funds'
assets will not be subject to any right, charge, security
interest, lien or claim of any kind in favor of the foreign sub-
custodian or its creditors or agent, except a claim of payment
for their safe custody or administration; (b) beneficial
ownership of the Fund's assets will be freely transferable
without the payment of money or value other than for custody or
administration; (c) adequate records will be maintained
separately identifying the assets; (d) officers of or auditors
employed by, or other representatives of the Fund and any sub-
custodian, including to the extent permitted under applicable law
the independent public accountants for the Fund, will be given
access to the books and records of the Foreign Sub-custodian
relating to its actions under its agreement with the Foreign Sub-
custodian; and (e) assets of the Fund held by the Foreign Sub-
custodian will be subject only to the instructions of the Bank,
its' sub-custodian or its agents.
6. Transactions in Foreign Custody Account.
(a) Except as otherwise provided in Paragraph (b) of this
Section 7, the provisions of Section 3 of the Custody Agreement
shall apply, equally to the Securities of the Fund held outside
the United States by Foreign Sub-custodian.
(b) Notwithstanding any provision of this Agreement to the
contrary, settlement and payment for Securities received for the
account of the Fund and delivery of Securities maintained for the
account of the Fund may be effected in accordance with the
customary established securities trading or securities processing
practices and procedures in the jurisdiction or market in which
the transaction occurs, including, without limitation, delivering
securities to the purchaser thereof or to a dealer therefor (or
an agent for such purchaser or dealer) against a receipt with
expectation of receiving later payment for such securities from
such purchaser or dealer.
(c) Securities maintained in the custody of a Foreign Sub-
custodian may be maintained in the name of such entity's nominee
to the same extent as set forth in Section 3 of this Agreement,
and the Fund agrees to hold any such nominee harmless from any
liability as a holder of record of such securities.
7. Liability of Foreign Sub-Custodians. Each agreement
pursuant to which the Bank or its Sub-custodian employs a foreign
banking institution as a Foreign Sub-custodian shall to the
extent applicable require the institution to exercise the
customary standard of care in the performance of its duties and
to indemnify, and hold harmless, the Bank and any Sub-Custodian
for the benefit of the Fund for and against any loss, damage,
cost, expense, liability or claim arising out of or in connection
with the institution's performance of such obligations. At the
election of the Fund, it shall be entitled to be subrogated to
the rights of any sub-custodian with respect to any claims
against a Foreign Sub-custodian as a consequence of any such
loss, damage, cost, expense, liability or claim if and to the
extent that the Fund has not been made whole for any such loss,
damage, cost, expense, liability or claim.
8. Tax Law. The Bank shall have no responsibility or
liability for any obligations now or hereafter imposed on the
Fund or any sub-custodian by the tax law of the United States of
America or any state or political subdivision thereof. It shall
be the responsibility of the Fund to notify the Bank and any sub-
custodian of the obligations imposed on the Fund or any as sub-
custodian of the Fund by the tax law of jurisdictions other than
those mentioned in the above sentence, including responsibility
for withholding and other taxes, assessments or other
governmental charges, certifications and governmental reporting.
The sole responsibility of the Bank with regard to such tax law
shall be to use reasonable efforts to assist the fund with
respect to any claim for exemption or refund.
9. Compensation, Fees, Expenses and Taxes.
(a) In consideration of the services to be rendered
pursuant to this Addendum, Customer shall compensate Bank in
accordance with and pursuant to the Fee Schedule annexed hereto
as Schedule B, which Fee Schedule may be amended from time to
time upon thirty (30) days' prior written notice to Customer.
(b) In addition, Customer shall be responsible for and
shall reimburse Bank for all costs, expenses, and fees incurred
by Bank in connection with this Agreement, including (without
limiting the generality of the foregoing) all brokerage fees and
costs and transfer taxes incurred in connection with the
purchase, sale or disposition of Property, and all income taxes
or other taxes of any kind whatsoever which may be levied or
assessed under existing or future laws upon or in respect to the
Property, and all other similar expenses related to the
administration of the Account incurred by Bank in the performance
of its duties hereunder (including reasonable attorneys' fees and
expenses).
(c) Fees and reimbursement for costs and expenses shall be
paid monthly after the last business day of each calendar month,
with the first payment for the calendar month following any
activity. Bank is hereby authorized to charge the Account for
such fees, costs and expenses.
(d) In the event services are rendered for less than a
calendar month or this Addendum is terminated prior to the end of
a calendar month, Customer shall pay Bank's fee prorated for the
portion of the calendar month such services are rendered, plus
any costs and expenses incurred by Bank for Customer's Account up
to or subsequent to the date of termination.
10. Limitation of Liability; Indemnification. (a) Bank
shall not be liable for any Losses (as defined below) or action
taken or omitted or for any loss or injury resulting from its
actions or its performance or lack of performance of its duties
hereunder in the absence of gross negligence or willful
misconduct on its part. With respect to Losses incurred by
Customer as a result of the acts or the failure to act by any Sub-
custodian or Foreign Sub-custodian, Bank shall take appropriate
action to recover such Losses from such sub-custodian; and Bank's
sole responsibility and liability to Customer shall be limited to
amounts so received from such Sub-custodian (exclusive of costs
and expenses incurred by Bank). In no event shall Bank or any
Sub-custodian be liable (i) for acting in accordance with
instructions from Customer or any agent of Customer, (ii) for
special or consequential damages, (iii) for the acts or omissions
of its nominees, correspondents, designees or subagents, (iv) for
holding Property in any particular country, including, but not
limited to, Losses resulting from nationalization, expropriation
or other governmental actions; regulation of the banking or
securities industry; currency controls or restrictions,
devaluations or fluctuations; or market conditions which prevent
the orderly execution of securities transactions or affect the
value of Property, or (v) for any Losses due to forces beyond the
control of Bank or any sub-custodian, including, without
limitation, strikes, work stoppages, acts of war or terrorism,
insurrection, revolution, nuclear or natural catastrophes or acts
of God, and interruptions, loss or malfunctions of utilities,
communications or computer (software and hardware) services.
(b) Customer shall be liable for and shall indemnify Bank
and hold it harmless against any and all claims, losses,
liabilities, damages or expenses (including reasonable attorneys'
fees and expenses) (collectively referred to herein as "Losses")
however arising from or in connection with this Addendum or the
performance of its duties hereunder, provided, however, that
nothing contained herein shall limit or in any way impair the
right of Bank to indemnification under any other provision of
this Agreement.
(c) No legal action, shall be instituted against Bank after
one year from the date of the first Confirmation, Statement of
Assets or Statement of Accounts that reflects the information,
error or omission which provides the basis for such claim.
(d) Customer understands that when a sub-custodian is
instructed to deliver Property against payment, it may deliver
such Property prior to actually receiving final payment and that,
as a matter of bookkeeping convenience, it may credit Customer's
Account with anticipated proceeds of sale prior to actual receipt
of final payment. The risk of non-receipt of payment shall be
Customer's and Bank or said sub-custodian shall have no liability
therefor.
(e) All credits to the Account of Customer of anticipated
proceeds of sales and redemptions of Property and of anticipated
income from Property shall be conditional upon receipt of final
payment and may be reversed to the extent final payment is not
received. In the event that Bank in its description advances
funds to Customer to facilitate the settlement of any
transaction, or elects to permit Customer to use funds credited
to the Account in anticipation of final payment, or if Customer
otherwise becomes indebted to Bank (including indebtedness as a
result of overdrafts in the Account), Customer shall, immediately
upon demand, reimburse Bank for such amounts plus any interest
thereon.
(f) Bank's duties and responsibilities are solely those set
forth herein and it shall not be obligated to perform any
services or take any action not provided for herein unless
specifically agreed to by it in writing. Nothing contained in
this Agreement shall cause Bank to be deemed a trustee or
fiduciary for or on behalf of Customer.
11. Reports; Statements of Account; Computer Services. (a)
Written Reports. Bank shall provide Customer on a periodic basis
with Statements of Assets in the Account ("Statement of Assets")
and Statements of Account showing all transactions in the Account
("Statement of Account"). Statement of Assets, Statement of
Account and Confirmations shall identify the Property held, and
transactions involving, each Sub-custodian.
(b) Examination of Reports. Customer shall examine
promptly each such Confirmation, Statement of Account and
Statement of Assets. Unless Customer files with Bank a written
exception or objection within ninety (90) days after the date of
such Confirmation or the closing date of the period covered by
the first such Statement of Assets or Statement of Account that
reflects an error or omission, Customer shall be conclusively
deemed to have waived any such exception or objection or claim
based thereon.
12. Notices, Instructions and Other Communications. Unless
otherwise specified herein, all Statements of Assets, Statements
of Account and Confirmations shall be in writing and all notices,
instructions or other communications may be given either orally
or in writing (including by tested telex, telecopy or other
electronic transmission, which may include Trade Reports issued
by the Institutions Delivery System or Depository Trust Company).
All Statements of Assets, Statements of Account, Confirmations,
notices, instructions and other communications shall be delivered
to the address (post office, telephone, telex or other electronic
address) set forth on Schedule C annexed hereto, which address
may be changed upon thirty (30) days' prior written notice to the
other party. Customer shall furnish, and shall cause each
Investment Manger to furnish, to Bank a certificate indicating
those person who are authorized to give Bank instructions
hereunder and with specimen signatures of such person. Bank is
authorized to comply with and rely upon any such notices,
instructions or other communications believed by it to have been
sent or given by an authorized person. Bank's understanding of
any oral notice, instruction or other communication shall be
deemed controlling (whether given or received by Bank),
notwithstanding any discrepancy between such understanding and
any subsequent confirming document or communication.
13. Appointment of Investment Manager. Customer may, from
time to time, appoint one or more investment managers (each an
"Investment Manager") to manage the Property in the Account, to
vote securities in the Account, to purchase, sell or otherwise
acquire or dispose of Property in the Account, and to engage in
foreign exchange transactions on behalf of Customer. Upon
receipt of notice of the appointment of any Investment Manager,
which notice shall be annexed hereto as Schedule D (as such
Schedule may be amended from time to time by Customer), and
except as otherwise provided herein, Bank is to rely upon and
comply with (and shall have no liability for relying upon and
complying with) instructions and directions from the Investment
Manager (including instructions and directions with respect to
the voting of securities in the Account, the purchase, sale or
other acquisition or disposition of Property in the Account and
the furnishing of information and records relating to the Account
to the Investment Manager) to the same extent as if such
instructions and directions were given by Customer and Bank shall
have no duty or obligation to determine the propriety or
appropriateness of such instructions or directions. Any such
appointment shall remain in full force and effect unless and
until Bank receive written notice from Customer to the contrary.
14. Termination. This Addendum shall be continuing and
shall remain in full force and effect until terminated by Bank or
Customer upon the termination of the Custody Agreement between
Customer and Bank.
15. Assignment. Neither Bank nor Customer shall assign
this Addendum without first obtaining the written consent of the
other party hereto.
16. Headings and Capital Terms. The section and paragraph
headings contained herein are for convenience and reference only
and are not intended to define or limit the scope of any
provision of this Agreement. All capitalized terms used in this
Addendum but not defined shall have the meanings assigned to such
terms in the Custody Agreement.
17. Entire Agreement; Amendment. This Addendum shall
constitute the entire agreement of the parties with respect to
the subject matter and supersedes all prior oral or written
agreements in regard thereto. Except as otherwise provided, this
Addendum may be amended only by an instrument in writing duly
executed by both parties hereto.
18. Governing Law; Jurisdiction; Certain Waivers. (a)
This Addendum shall be interpreted and construed in accordance
with the internal substantive laws (and not the choice of law
rules) of the State of Ohio.
(b) The invalidity, illegality or unenforceability of any
provision of this Addendum shall in no away affect the validity,
legality or enforceability of any other provision; and if any
provision is held to be unenforceable as a matter of law, the
other provisions shall not be affected thereby and shall remain
in full force and effect.
19. Rights and Remedies. The rights and remedies conferred
upon the parties hereto shall be cumulative, and the exercise of
waiver of any such rights or remedy shall not preclude or inhibit
the exercise or any additional rights or remedies. The waiver of
any right or remedy hereunder shall not preclude or inhibit the
subsequent exercise of such right or remedy.
IN WITNESS WHEREOF, this Addendum has been executed and
attested as of the day and year first above written, by the duly
authorized offices of Customer and Bank.
Capstone Christian Values Fund, Inc.
Attest:
By:
Name: Name:
Title: Title:
THE FIFTH THIRD BANK
Attest:
By:
Name: Name:
Title: Title:
SCHEDULE A
THE FIFTH THIRD BANK
GLOBAL CUSTODY NETWORK
COUNTRIES AND SUB-CUSTODIANS
FOR
CAPSTONE CHRISTIAN VALUES FUND, INC.
February 11, 2000
COUNTRY SUB-CUSTODIAN
Argentina Banco Rio de xx Xxxxx, XX
Australia Commonwealth Bank of Australia, Ltd.
Austria Bank Austria AG
Bangladesh Standard Chartered Bank
Belgium Banque Bruxelles Xxxxxxx
Bermuda The Bank of Bermuda
Botswana SCMB (Stanbic Bank Botswana)
Brazil The Bank of Boston
Bulgaria ING Bank Sofia
Canada Royal Bank of Canada
Chile The Bank of Boston
China Standard Chartered Bank
Colombia Cititrust
Croatia Privredna Banka
Cyprus Bank of Cyprus
Czech Republic Ceskoslovenska Obchodni Bank
Denmark Den Danske Bank
EASDAQ Banque Bruxelles Xxxxxxx
Ecuador Citibank
Egypt Citibank
Estonia Hansabank
Euromarkets Euroclear
Finland Xxxxxx Bank, Ltd.
France Banque Paribas
Germany Dresdner Bank
Ghana SCMB (Merchant Bank of Ghana Ltd.)
Greece Paribas, Athens
Hong Kong Hongkong and Shanghai Banking Corp.
Hungary Citibank Budapest
Iceland Landsbanki
India State Bank of India
Indonesia Hongkong and Shanghai Banking Corp.
Ireland Allied Irish Banks Plc.
Israel Bank Leumi LE- Israel B.M.
Italy Banca Commerciale Italiana
Ivory Coast Societe Generale de Banques en Cote d'Ivoire
Japan Bank of Tokyo Mitsubishi Ltd.
Jordan The British Bank of Middle East
Kenya SCMB (Stanbic Bank of Kenya Ltd)
Latvia Societe Generale
Lebanon The British Bank of the Middle East
Lithuania Vilniaus Bankas
Luxembourg Banque Internationale a Luxembourg
Malaysia Hongkong Bank Malaysia Berhad
Mauritius Hongkong and Shanghai Banking Corp.
Mexico Banco Nacional de Mexico
Morocco Banque Commerciale du Maroc
Namibia SCMB (Stanbic Bank Nambia Ltd.)
Netherlands Mees Pierson
New Zealand ANZ Banking Group Ltd.
Nigeria SCMB (Stanbic Bank Nigeria Ltd.)
Norway Den Norske Bank
Oman The British Bank of the Middle East)
Pakistan Standard Chartered Bank
Peru Citibank NA
Philippines Hongkong and Shanghai Banking Corp
Poland Bank Handlowy WWarszawie
Portugal Banco Comercial Portugues
Romania ING Bank- Bucharest Branch
Russia (Min Fin only) Bank for Foreign Trade
Russia (Equities & Bonds) Unexim Bank
Russia (Equities) Credit Suisse First Bonston Ltd- Moscow
Singapore Development Bank of Singapore
Slovakia Ceskoslovenska Obchodna Banka
Slovenia Banka
South Africa Standard Bank of South Africa
South Korea Standard Chartered Bank
Spain Banco Bilbao Vizcaya
Sri Lanka Standard Chartered Bank
Swaziland SCMB (Stanbic Bank Swaziland Ltd)
Sweden Skandinaviska Enskilda Banken
Switzerland Union Bank of Switzerland
Taiwan Hongkon and Shanghai Banking Corp.
Thailand Standard Chartered Bank
Tunisia Banque Internationale Arabe de Tunisie
Turkey Ottoman Bank
Ukraine Bank Ukraina
United Kingdom The Bank of New York
Uruguay BankBoston
Venezuela Citibank NA
Zambia SCMB (Stanbic Bank Zambia LTd)
Zimbabwe SCMB (Stanbic Bank Zimbabwe Ltd)
SCHEDULE B
THE FIFTH THIRD BANK
GLOBAL CUSTODY AGREEMENT
FEE SCHEDULE
SCHEDULE C
THE FIFTH THIRD BANK
GLOBAL CUSTODY AGREEMENT
NOTICES
February 11, 2000
TO THE FIFTH THIRD BANK:
Post Office Address: Fifth Third Center
00 Xxxxxxxx Xxxxxx Xxxxx
Mail Drop 1090E5
Xxxxxxxxxx, Xxxx 00000
Attention: Xxxxxxxxx X. Ok
Telephone: (000) 000-0000
Telex: (000) 000-0000
TO CAPSTONE CHRISTIAN VALUES FUND, INC.:
Post Office Address: Capstone Christian Values Fund, Inc.
0000 Xxx Xxxxxx
Xxxxx 0000
Xxxxxxx, XX 00000
SCHEDULE D
THE FIFTH THIRD BANK
GLOBAL CUSTODY AGREEMENT
INVESTMENT MANAGERS
, 2000
INCUMBENCY AND SIGNATURE CERTIFICATE
The undersigned hereby certifies to The Fifth Third Bank that I
am Secretary of Treasurer of the State of Ohio (the
"Corporation"), a corporation, and that, as
such, I am duly authorized to execute this Certificate on behalf
of the Corporation, and further certifies that each of the
following persons, as of the date hereof, is a duly elected,
qualified and acting officer of the Corporation, holding the
office of the Corporation set opposite his name below; and that
the signatures of each such person appearing opposite such
person's name is such person's own true signature:
Name: Officer: Signature:
WITNESS the seal of the Corporation and the signature of the
undersigned this , 2000.
[Corporate Seal]
Secretary
The undersigned, the President of the Corporation and one of the
officers named in the foregoing Certificate, hereby confirms such
Certificate on the date hereof.
Name:
Title: President
Name:
Title:
CORPORATE RESOLUTION
The undersigned hereby certifies to The Fifth Third Bank that the
Board of Directors of , a corporation organized
under the laws of , duly adopted the following
resolutions on the day of , 19
, and that such resolutions are in full force and effect:
RESOLVED, that any of the
following officers, employees or agents of this
corporation, acting (alone)(jointly), be and hereby
(is)(are) authorized and empowered to enter into a
Global Custody Agreement with The Fifth Third Bank
substantially in the form attached hereto with such
changes thereto as the person executing that same shall
deem advisable. The execution of such agreement by
such person to be conclusive evidence of such approval.
Name Title
and RESOLVED, that any of the
following persons, acting (alone)(jointly), be and
hereby (is)(are) authorized from time to time to
designate in writing to The Fifth Third Bank those
officers, employees and other agents of this
corporation authorized to issue instructions under such
Agreement, including, without limitation, with respect
to deposit or withdrawal of cash and the deposit,
withdrawal, purchase or sale of securities and other
property without limitation as to price, items or
condition and otherwise to deal therewith, all pursuant
to the provisions of such Global Custody Agreement:
Name Title
and RESOLVED, that notice of any change in these
resolutions be communicated in writing to The Fifth
Third Bank, and, until The Fifth Third Bank has
actually received such notice, it is authorized to act
pursuant to these resolutions.
IN WITNESS WHEREOF, I have hereunto set my hand as secretary of
said corporation and affixed the corporate seal this day
of , 19 .
[CORPORATE SEAL]
Secretary
STATE OF OHIO )
) SS
COUNTY OF XXXXXXXX )
On the day of , 19 , before me
personally came , to me
known, who, being by me duly sworn, did depose and say that
he/she resides at ; that
he/she is of The Fifth Third
Bank one of the corporations described in and which executed the
above instrument; that he/she knows the corporate seal of said
corporation; that the seal affixed to said instrument is such
corporate seal; that it was so affixed by the authority of the
Board of Directors of said corporation; and that he/she signed
his/her name thereto by like authority.
Notary Public
STATE OF OHIO )
) SS
COUNTY OF XXXXXXXX )
On the day of , 19 , before me
personally came , to me
known, who, being by me duly sworn, did depose and say that
he/she resides at ; that
he/she is of
one of the corporations described in and which executed the above
instrument; that he/she knows the corporate seal of said
corporation; that the seal affixed to said instrument is such
corporate seal; that it was so affixed by the authority of the
Board of Directors of said corporation; and that he/she signed
his/her name thereto by like authority.
Notary Public
