EXHIBIT 6 UNDER FORM N-1A
EXHIBIT 1 UNDER ITEM 601/REG. S-K
FEDERATED MUNICIPAL INCOME TRUST
DISTRIBUTOR'S CONTRACT
AGREEMENT is made this 9th day of September, 1991, by and
between FEDERATED MUNICIPAL INCOME TRUST (the "Trust"), a
Massachusetts business trust, and FEDERATED SECURITIES CORP. ("FSC"),
a Pennsylvania Corporation.
In considerationof the mutual covenants hereinafter
contained, it is hereby agreed by and between the parties hereto as
follows:
1. The Trust hereby appoints FSC as its agent to sell and
distribute shares of the Trust which may be offered in one or more
series (the "Funds") consisting of one or more classes (the "Classes")
of shares (the "Shares") as described and set forth on one or more
exhibits to this Agreement at the current offering price thereof as
described and set forth in the current Prospectuses of the Trust. FSC
hereby accepts such appointment and agrees to provide such other
services for the Trust, if any, and accept such compensation from the
Trust, if any, as set forth in the applicable exhibit to this
Agreement.
2. The sale of any Shares may be suspended without prior notice
whenever in the judgment of the Trust it is in its best interest to do so.
3. Neither FSC nor any other person is authorized by the
Trust to give any information or to make any representation relative
to any Shares other than those contained in the Registration
Statement, Prospectuses, or Statements of Additional Information
("SAIs") filed with the Securities and Exchange Commission, as the
same may be amended from time to time, or in any supplemental
information to said Prospectuses or SAIs approved by the Trust. FSC
agrees that any other information or representations other than those
specified above which it or any dealer or other person who purchases
Shares through FSC may make in connection with the offer or sale of
Shares, shall be made entirely without liability on the part of the
Trust. No person or dealer, other than FSC, is authorized to act as
agent for the Trust for any purpose. FSC agrees that in offering or
selling Shares as agent of the Trust, it will, in all respects, duly
conform to all applicable state and federal laws and rules and
regulations of the National Association of Securities Dealers, Inc.,
including its Rules of Fair Practice. FSC will submit to the Trust
copies of all sales literature before using the same and will not use
such sales literature if disapproved by the Trust.
4. This Agreement is effective with respect to each Class as
of the date of execution of the applicable exhibit and shall continue
in effect with respect to each Class presently set forth on an exhibit
and any subsequent Classes added pursuant to an exhibit during the
initial term of this Agreement for one year from the date set forth
above, and thereafter for successive periods of one year if such
continuance is approved at least annually by the Trustees of the Trust
including a majority of the member of the Board of Trustees of the
Trust who are not interested persons of the Trust and have no direct
or indirect financial interest in the operation of any Distribution
Plan relating to the Trust or in any related documents to such Plan
("Disinterested Trustees") cast in person at a meeting called for that
purpose. If a Class is added after the first annual approval by the
Trustees as described above, this Agreement will be effective as to
that Class upon execution of the applicable exhibit and will continue
in effect until the next annual approval of this Agreement by the
Trustees and thereafter for successive periods of one year, subject to
approval as described above.
5. This Agreement may be terminated with regard to a
particular Fund or Class at any time, without the payment of any
penalty, by the vote of a majority of the Disinterested Trustees or by
a majority of the outstanding voting securities of the particular Fund
or Class on not more than sixty (60) days' written notice to any other
party to this Agreement. This Agreement may be terminated with regard
to a particular Fund or Class by FSC on sixty (60) days' written
notice to the Trust.
6. This Agreement may not be assigned by FSC and shall
automatically terminate in the event of an assignment by FSC as
defined in the Investment Company Act of 1940, provided, however, that
FSC may employ such other person, persons, corporation or corporations
as it shall determine in order to assist it in carrying out its duties
under this Agreement.
7. FSC shall not be liable to the Trust for anything done or
omitted by it, except acts or omissions involving willful misfeasance,
bad faith, gross negligence, or reckless disregard of the duties
imposed by this Agreement.
8. This Agreement may be amended at any time by mutual
agreement in writing of all the parties hereto, provided that such
amendment is approved by the Trusteesof the Trust including a majority
of the Disinterested Trustees of the Trust cast in person at a meeting
called for that purpose.
9. This Agreement shall be construed in accordance with and
governed by the laws of the Commonwealth of Pennsylvania.
10. (a) Subject to the conditions set forth below, the Trust
agrees to indemnify and hold harmless FSC and each person, if any, who
controls FSC within the meaning of Section 15 of the Securities Act of
1933 and Section 20 of the Securities Act of 1934, as amended, against
any and all loss, liability, claim, damage and expense whatsoever
(including but not limited to any and all expenses whatsoever
reasonably incurred in investigating, preparing or defending against
any litigation, commenced or threatened, or any claim whatsoever)
arising out of or based upon any untrue statement or alleged untrue
statement of a material fact contained in the Registration Statement,
any Prospectus or SAI's (as from time to time amended and
supplemented) or the omission or alleged omission therefrom of a
material fact required to be stated therein or necessary to make the
statements therein not misleading, unless such statement or omission
was made in reliance upon and in conformity with written information
furnished to the Trust about FSC by or on behalf of FSC expressly for
use in the Registration Statement, any Prospectuses and SAIs or any
amendment or supplement thereof.
If any action is brought against FSC or any controlling
person thereof with respect to which indemnity may be sought against
the Trust pursuant to the foregoing paragraph, FSC shall promptly
notify the Trust in writing of the institution of such action and the
Trust shall assume the defense of such action, including the
employment of counsel selected by the Trust and payment of expenses.
FSC or any such controlling person thereof shall have the right to
employ separate counsel in any such case, but the fees and expenses of
such counsel shall be at the expense of FSC or such controlling person
unless the employment of such counsel shall have been authorized in
writing by the Trust in connection with the defense of such action or
the Trust shall not have employed counsel to have charge of the
defense of such action, in any of which events such fees and expenses
shall be borne by the Trust. Anything in this paragraph to the
contrary notwithstanding, the Trust shall not be liable for any
settlement of any such claim of action effected without its written
consent. The Trust agrees promptly to notify FSC of the commencement
of any litigation or proceedings against the Trust or any of its
officers or Trustees or controlling persons in connectionwith the
issue and sale of Shares or in connection withthe Registration
Statement, Prospectuses, or SAIs.
(b) FSC agrees to indemnify and hold harmless the Trust, each
of its Trustees, each of its officers who have signed the Registration
Statement and each other person, if any, who controls the Trust within
the meaning of Section 15 of the Securities Act of 1933, but only with
respect to statements or omissions, if any, made in the Registration
Statement or any prospectus, SAI, or amendment or supplement thereof
in reliance upon, and in conformity with, information furnished to the
Trust about FSC by or on behalf of FSC expressly for use in the
Registration Statement or any Prospectus, SAI, or any amendment or
supplement thereof. In case any action shall be brought against the
Trust or any other person so indemnified based on the Registration
Statement or any Prospectus, SAI, or any amendment or supplement
thereof, and with respect to which indemnity may be sought against
FSC, FSC shall have the rights and duties given to the Trust, and the
Trust and each other person so indemnified shall have the rights and
duties given to FSC by the provisions of subsection (a) above.
(c) Nothing herein contained shall be deemed to protect any
person against liability to the Trust or its shareholders to which
such person would otherwise be subject by reason of willful
misfeasance, bad faith or gross negligence in the performance of the
duties of such person or by reason of the reckless disregard by such
person of the obligations and duties of such person under this
Agreement.
(d) Insofar as indemnification for liabilities may be
permitted pursuant to Section 17 of the Investment Company Act of 1940
for Trustees, officers, FSC and controlling persons of the Trust by
the Trust pursuant to this Agreement, the Trust is aware of the
position of the Securities and Exchange Commission as set forth in the
Investment Company Act Release No. IC-11330. Therefore, the Trust
undertakes that in addition to complying with the applicable
provisions of this Agreement, in the absence of a final decision on
the merits by a court or other body before which the proceeding was
brought, that an indemnification payments will not be made unless in
the absence of such a decision, a reasonable determination based upon
factual review has been made (i) by a majority vote of a quorum of
non-party Disinterested Trustees, or (ii) by independent legal counsel
in a written opinion that the indemnitee was not liable for any act of
willful misfeasance, bad faith, gross negligence or reckless disregard
of duties. The Trust further undertakes that advancement of expenses
incurred in the defense of a proceeding (upon undertaking for
repayment unless it is ultimately determined that indemnification is
appropriate) against an officer, Trustee, FSC or controlling person of
the Trust will not be made absent the fulfillment of at least one of
the following conditions: (i) the indemnitee provides security for his
undertaking; (ii) the Trust is insured against losses arising by
reason of any lawful advances; or (iii) a majority of a quorum of
non-party Disinterested Trustees or independent legal counsel in a
written opinion makes a factual determination that there is reason to
believe the indemnitee will be entitlted to indemnification.
11. FSC is hereby expressly put on notice of the limitation
of liability as set forth in Article XI of the Declaration of Trust
and agrees that the obligations assumed by the Trust pursuant to this
Agreement shall be limited in any case to the Trust and its assets and
FSC shall not seek satisfaction of any such obligation from the
shareholders of the Trust, the Trustees, officers, employees or agents
of the Trust, or any of them.
12. FSC agrees to adopt compliance standards as to when a
class of shares may be sold to particular investors.
13. This Agreement will become binding upon the parties
hereto upon the execution of the attached exhibits to the Agreement.
Exhibit A
FEDERATED MUNICIPAL INCOME TRUST
Michigan Municipal Income fund
In consideration of the mutual covenants set forth in the
Distributor's Contract dated September 9, 1991, between Federated
Municipal Income Trust and Federated Securities Corp., Federated
Municipal Income Trust executes and delivers this Exhibit on behalf of
the Fund, and with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
Witness the due execution hereof this 9th day of September,
1991.
Attest: FEDERATED MUNICIPAL INCOME TRUST
/S/ XXXX X. XXXXXXXXX By: /S/ XXXXXXX X. XXXXXX
Secretary President
(SEAL)
Attest: FEDERATED SECURITIES CORP.
/S/ S. XXXXXXX XXXXX By: /S/ XXXXXXX X. XXXXXX
Secretary President
(SEAL)
Exhibit B
FEDERATED MUNICIPAL INCOME TRUST
Pennsylvania Municipal Income Fund
Investment Shares
The following provisions are hereby incorporated and made
part of the Distributor's Contract dated the 9th day of September,
1991, between Federated Municipal Income Trust and Federated
Securities Corp. with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
1. The Trust hereby appoints FSC to engage in activities
principally intended to result in the sale of shares of the Classes.
Pursuant to this appointment FSC is authorized to select a group of
brokers ("Brokers') to sell the above-listed Classes ("Shares"), the
the current offering price thereof as described and set forth in the
respective prospectuses of the Trust, and to render administrative
support services to the Trust and its shareholders. In addition, FSC
is authorized to select a group of Administrators ("Administrators")
to render administrative support services to the Trust and its
shareholders.
2. Administrative support services may include, but are not
limited to, the following eleven functions: (1) account openings: the
Broker or Administrator communicates account openings via computer
terminals located on the Broker or Administrator's premises; (2)
account closings: the Broker or Administrator communicates account
closings via computer terminals; (3) enter purchase transactions:
purchase transactions are entered through the Broker or
Administrator's own personal computer or through the use of a
toll-free telephone number; (4) enter redemption transactions: Broker
or Administrator enters redemption transactions in the same manner as
purchases; (5) account maintenance: Broker or Administrator provides
or arranges to provide accounting support all transactions. Broker or
Administrator also wires and reconciles all transactions, reviews the
activity in the Trust's accounts, and provides training and
supervision of its personnel; (6) interest posting: Broker or
Administrator posts and reinvests dividends to the Trust's accounts;
(7) prospectus and shareholder reports: Broker or Administrator
maintains and distributes current copies of prospectuses and
shareholder reports; (8) advertisements: the Broker or Administrator
continuously advertises the availability of its services and products;
(9) customer lists: The Broker or Administrator continuously provides
name of potential customers; (10) design services: the Broker or
Administrator continuously designs material to send to customers and
develops methods of making such materials accessible to customers; and
(11) consultation services: the Broker or Administrator continuously
provides information about the product needs of customers.
3. During the term of this Agreement, the Trust will pay FSC
for services pursuant to this Agreement, a monthly fee computed at the
annual rate of .40% of the average aggregate net asset value of the
Investment Shares of the Pennsylvania Municipal Income Fund held
during the month. For the month in which this Agreement becomes
effective or terminates, there shall be an appropriate proration of
any fee payable on the basis of the number of days that the Agreement
is in effect during the month.
4. FSC may from time-to-time and for such periods as it
deemed appropriate reduce its compensation to the extent any Class
expenses exceed such lower expense limitation as FSC may, by notice to
the Trust, voluntarily declare to be effective.
5. FSC will enter into separate written agreements with
various firms to provide certain of the services set forth in Paragaph
1 herein. FSC, in its sole discretion, may pay Brokers and
Administrators a periodic fee in respect of Shares owned from time to
time by their clients or customers. The schedules of such fees and the
basis upon which such fees will be paid shall be determined from time
to time by FSC in its sole discretion.
6. FSC will prepare reports to the Board of Trustees of the
Trust on a quarterly basis showing amounts expended hereunder including amounts
paid to Brokers and Administrators and the purpose for such payments.
In consideration of the mutual covenants set forth in the
Distributor's Contract dated September 9, 1991 between Federated
Municipal Income Trust and Federated Securities Corp., Federated
Municipal Income Trust executes and delivers this Exhibit on behalf of
the Fund, and with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
Witness the due execution hereof this 27th day of December,
1991.
ATTEST: FEDERATED MUNICIPAL INCOME TRUST
/S/ XXXX X. XXXXXXXXX By: /S/ XXXXXXX X. XXXXXX
Secretary President
(SEAL)
ATTEST: FEDERATED SECURITIES CORP.
/S/ S. XXXXXXX XXXXX By: /S/ XXXXXXX X. XXXXXX
Secretary President
(SEAL)
Exhibit C
FEDERATED MUNICIPAL INCOME TRUST
Ohio Municipal Income Fund
Investment Shares
The following provisions are hereby incorporated and made
part of the Distributor's Contract dated the 9th day of September,
1991, between Federated Municipal Income Trust and Federated
Securities Corp. with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
1. The Trust hereby appoints FSC to engage in activities
principally intended to result in the sale of shares of the Classes.
Pursuant to this appointment FSC is authorized to select a group of
brokers ("Brokers') to sell the above-listed Classes ("Shares"), the
the current offering price thereof as described and set forth in the
respective prospectuses of the Trust, and to render administrative
support services to the Trust and its shareholders. In addition, FSC
is authorized to select a group of Administrators ("Administrators")
to render administrative support services to the Trust and its
shareholders.
2. Administrative support services may include, but are not
limited to, the following eleven functions: (1) account openings: the
Broker or Administrator communicates account openings via computer
terminals located on the Broker or Administrator's premises; (2)
account closings: the Broker or Administrator communicates account
closings via computer terminals; (3) enter purchase transactions:
purchase transactions are entered through the Broker or
Administrator's own personal computer or through the use of a
toll-free telephone number; (4) enter redemption transactions: Broker
or Administrator enters redemption transactions in the same manner as
purchases; (5) account maintenance: Broker or Administrator provides
or arranges to provide accounting support all transactions. Broker or
Administrator also wires and reconciles all transactions, reviews the
activity in the Trust's accounts, and provides training and
supervision of its personnel; (6) interest posting: Broker or
Administrator posts and reinvests dividends to the Trust's accounts;
(7) prospectus and shareholder reports: Broker or Administrator
maintains and distributes current copies of prospectuses and
shareholder reports; (8) advertisements: the Broker or Administrator
continuously advertises the availability of its services and products;
(9) customer lists: The Broker or Administrator continuously provides
name of potential customers; (10) design services: the Broker or
Administrator continuously designs material to send to customers and
develops methods of making such materials accessible to customers; and
(11) consultation services: the Broker or Administrator continuously
provides information about the product needs of customers.
3. During the term of this Agreement, the Trust will pay FSC
for services pursuant to this Agreement, a monthly fee computed at the
annual rate of .40% of the average aggregate net asset value of the
Investment Shares of the Ohio Municipal Income Fund held during the
month. For the month in which this Agreement becomes effective or
terminates, there shall be an appropriate proration of any fee payable
on the basis of the number of days that the Agreement is in effect
during the month.
4. FSC may from time-to-time and for such periods as it
deemed appropriate reduce its compensation to the extent any Class
expenses exceed such lower expense limitation as FSC may, by notice to
the Trust, voluntarily declare to be effective.
5. FSC will enter into separate written agreements with
various firms to provide certain of the services set forth in Paragaph
1 herein. FSC, in its sole discretion, may pay Brokers and
Administrators a periodic fee in respect of Shares owned from time to
time by their clients or customers. The schedules of such fees and the
basis upon which such fees will be paid shall be determined from time
to time by FSC in its sole discretion.
6. FSC will prepare reports to the Board of Trustees of the
Trust on a quarterly basis showing amounts expended hereunder including amounts
paid to Brokers and Administrators and the purpose for such payments.
In consideration of the mutual covenants set forth in the
Distributor's Contract dated September 9, 1991 between Federated
Municipal Income Trust and Federated Securities Corp., Federated
Municipal Income Trust executes and delivers this Exhibit on behalf of
the Fund, and with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
Witness the due execution hereof this 29th day of January,
1992.
ATTEST: FEDERATED MUNICIPAL INCOME TRUST
/S/ XXXX X. XXXXXXXXX By: /S/ XXXXXXX X. XXXXXX
Secretary President
(SEAL)
ATTEST: FEDERATED SECURITIES CORP.
/S/ S. XXXXXXX XXXXX By: /S/ XXXXXXX X. XXXXXX
Secretary President
(SEAL)
Exhibit D
FEDERATED MUNICIPAL INCOME TRUST
Ohio Municipal Income Fund
Trust Shares
In consideration of the mutual covenants set forth in the
Distributor's Contract dated September 9, 1991, between Federated
Municipal Income Trust and Federated Securities Corp., Federated
Municipal Income Trust executes and delivers this Exhibit on behalf of
the Fund, and with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
Witness the due execution hereof this 23rd day of March,
1992.
Attest: FEDERATED MUNICIPAL INCOME TRUST
/S/ XXXX X. XXXXXXXXX By: /S/ J. XXXXXXXXXXX XXXXXXX
Secretary Vice President
(SEAL)
Attest: FEDERATED SECURITIES CORP.
/S/ S. XXXXXXX XXXXX By: /S/ XXXXXXX X. XXXXXX
Secretary President
Exhibit E
FEDERATED MUNICIPAL INCOME TRUST
Pennsylvania Municipal Income Fund
In consideration of the mutual covenants set forth in the
Distributor's Contract dated September 9, 1991, between Federated
Municipal Income Trust and Federated Securities Corp., Federated
Municipal Income Trust executes and delivers this Exhibit on behalf of
the Fund, and with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
Witness the due execution hereof this 23rd day of March,
1992.
Attest: FEDERATED MUNICIPAL INCOME TRUST
/S/ XXXX X. XXXXXXXXX By: /S/ J. XXXXXXXXXXX XXXXXXX
Secretary President
(SEAL)
Attest: FEDERATED SECURITIES CORP.
/S/ S. XXXXXXX XXXXX By: /S/ XXXXXXX X. XXXXXX
Secretary President
Exhibit F
MUNICIPAL SECURITIES INCOME TRUST
California Municipal Income Fund
Fortress Shares
The following provisions are hereby incorporated and made
part of the Distributor's Contract dated the 9th day of September,
1991, between Municipal Securities Income Trust and Federated
Securities Corp. with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
1. The Trust hereby appoints FSC to engage in activities
principally intended to result in the sale of shares of the Classes.
Pursuant to this appointment FSC is authorized to select a group of
brokers ("Brokers') to sell the above-listed Classes ("Shares"), the
the current offering price thereof as described and set forth in the
respective prospectuses of the Trust, and to render administrative
support services to the Trust and its shareholders. In addition, FSC
is authorized to select a group of Administrators ("Administrators")
to render administrative support services to the Trust and its
shareholders.
2. Administrative support services may include, but are not
limited to, the following eleven functions: (1) account openings: the
Broker or Administrator communicates account openings via computer
terminals located on the Broker or Administrator's premises; (2)
account closings: the Broker or Administrator communicates account
closings via computer terminals; (3) enter purchase transactions:
purchase transactions are entered through the Broker or
Administrator's own personal computer or through the use of a
toll-free telephone number; (4) enter redemption transactions: Broker
or Administrator enters redemption transactions in the same manner as
purchases; (5) account maintenance: Broker or Administrator provides
or arranges to provide accounting support all transactions. Broker or
Administrator also wires and reconciles all transactions, reviews the
activity in the Trust's accounts, and provides training and
supervision of its personnel; (6) interest posting: Broker or
Administrator posts and reinvests dividends to the Trust's accounts;
(7) prospectus and shareholder reports: Broker or Administrator
maintains and distributes current copies of prospectuses and
shareholder reports; (8) advertisements: the Broker or Administrator
continuously advertises the availability of its services and products;
(9) customer lists: The Broker or Administrator continuously provides
name of potential customers; (10) design services: the Broker or
Administrator continuously designs material to send to customers and
develops methods of making such materials accessible to customers; and
(11) consultation services: the Broker or Administrator continuously
provides information about the product needs of customers.
3. During the term of this Agreement, the Trust will pay FSC
for services pursuant to this Agreement, a monthly fee computed at the
annual rate of .50% of the average aggregate net asset value of the
Fortress Shares of the California Municipal Income Fund held during
the month. For the month in which this Agreement becomes effective or
terminates, there shall be an appropriate proration of any fee payable
on the basis of the number of days that the Agreement is in effect
during the month.
4. FSC may from time-to-time and for such periods as it
deemed appropriate reduce its compensation to the extent any Class
expenses exceed such lower expense limitation as FSC may, by notice to
the Trust, voluntarily declare to be effective.
5. FSC will enter into separate written agreements with
various firms to provide certain of the services set forth in Paragaph
1 herein. FSC, in its sole discretion, may pay Brokers and
Administrators a periodic fee in respect of Shares owned from time to
time by their clients or customers. The schedules of such fees and the
basis upon which such fees will be paid shall be determined from time
to time by FSC in its sole discretion.
6. FSC will prepare reports to the Board of Trustees of the
Trust on a quarterly basis showing amounts expended hereunder including amounts
paid to Brokers and Administrators and the purpose for such payments.
In consideration of the mutual covenants set forth in the
Distributor's Contract dated September 9, 1991 between Municipal
Securities Income Trust and Federated Securities Corp., Municipal
Securities Income Trust executes and delivers this Exhibit on behalf
of the Fund, and with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
Witness the due execution hereof this 24th day of November,
1992.
ATTEST: MUNICIPAL SECURITIES INCOME TRUST
/S/ XXXX X. XXXXXXXXX By: /S/ J. XXXXXXXXXXX XXXXXXX
Secretary Vice President
(SEAL)
ATTEST: FEDERATED SECURITIES CORP.
/S/ S. XXXXXXX XXXXX By: /S/ XXXXXXX X. XXXXXX
Secretary President
(SEAL)
Exhibit G
MUNICIPAL SECURITIES INCOME TRUST
New York Municipal Income Fund
Fortress Shares
The following provisions are hereby incorporated and made
part of the Distributor's Contract dated the 9th day of September,
1991, between Municipal Securities Income Trust and Federated
Securities Corp. with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
1. The Trust hereby appoints FSC to engage in activities
principally intended to result in the sale of shares of the Classes.
Pursuant to this appointment FSC is authorized to select a group of
brokers ("Brokers') to sell the above-listed Classes ("Shares"), the
the current offering price thereof as described and set forth in the
respective prospectuses of the Trust, and to render administrative
support services to the Trust and its shareholders. In addition, FSC
is authorized to select a group of Administrators ("Administrators")
to render administrative support services to the Trust and its
shareholders.
2. Administrative support services may include, but are not
limited to, the following eleven functions: (1) account openings: the
Broker or Administrator communicates account openings via computer
terminals located on the Broker or Administrator's premises; (2)
account closings: the Broker or Administrator communicates account
closings via computer terminals; (3) enter purchase transactions:
purchase transactions are entered through the Broker or
Administrator's own personal computer or through the use of a
toll-free telephone number; (4) enter redemption transactions: Broker
or Administrator enters redemption transactions in the same manner as
purchases; (5) account maintenance: Broker or Administrator provides
or arranges to provide accounting support all transactions. Broker or
Administrator also wires and reconciles all transactions, reviews the
activity in the Trust's accounts, and provides training and
supervision of its personnel; (6) interest posting: Broker or
Administrator posts and reinvests dividends to the Trust's accounts;
(7) prospectus and shareholder reports: Broker or Administrator
maintains and distributes current copies of prospectuses and
shareholder reports; (8) advertisements: the Broker or Administrator
continuously advertises the availability of its services and products;
(9) customer lists: The Broker or Administrator continuously provides
name of potential customers; (10) design services: the Broker or
Administrator continuously designs material to send to customers and
develops methods of making such materials accessible to customers; and
(11) consultation services: the Broker or Administrator continuously
provides information about the product needs of customers.
3. During the term of this Agreement, the Trust will pay FSC
for services pursuant to this Agreement, a monthly fee computed at the
annual rate of .50% of the average aggregate net asset value of the
Fortress Shares of the New York Municipal Income Fund held during the
month. For the month in which this Agreement becomes effective or
terminates, there shall be an appropriate proration of any fee payable
on the basis of the number of days that the Agreement is in effect
during the month.
4. FSC may from time-to-time and for such periods as it
deemed appropriate reduce its compensation to the extent any Class
expenses exceed such lower expense limitation as FSC may, by notice to
the Trust, voluntarily declare to be effective.
5. FSC will enter into separate written agreements with
various firms to provide certain of the services set forth in Paragaph
1 herein. FSC, in its sole discretion, may pay Brokers and
Administrators a periodic fee in respect of Shares owned from time to
time by their clients or customers. The schedules of such fees and the
basis upon which such fees will be paid shall be determined from time
to time by FSC in its sole discretion.
6. FSC will prepare reports to the Board of Trustees of the
Trust on a quarterly basis showing amounts expended hereunder including amounts
paid to Brokers and Administrators and the purpose for such payments.
In consideration of the mutual covenants set forth in the
Distributor's Contract dated September 9, 1991 between Municipal
Securities Income Trust and Federated Securities Corp., Municipal
Securities Income Trust executes and delivers this Exhibit on behalf
of the Fund, and with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
Witness the due execution hereof this 24th day of November,
1992.
ATTEST: MUNICIPAL SECURITIES INCOME TRUST
/S/ XXXX X. XXXXXXXXX By: /S/ J. XXXXXXXXXXX XXXXXXX
Secretary Vice President
(SEAL)
ATTEST: FEDERATED SECURITIES CORP.
/S/ S. XXXXXXX XXXXX By: /S/ XXXXXXX X. XXXXXX
Secretary President
(SEAL)
Exhibit H
MUNICIPAL SECURITIES INCOME TRUST
Florida Municipal Income Fund
The following provisions are hereby incorporated and made
part of the Distributor's Contract dated the 9th day of September,
1991, between Municipal Securities Income Trust and Federated
Securities Corp. with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
1. The Trust hereby appoints FSC to engage in activities
principally intended to result in the sale of shares of the Classes.
Pursuant to this appointment FSC is authorized to select a group of
brokers ("Brokers') to sell the above-listed Classes ("Shares"), the
the current offering price thereof as described and set forth in the
respective prospectuses of the Trust, and to render administrative
support services to the Trust and its shareholders. In addition, FSC
is authorized to select a group of Administrators ("Administrators")
to render administrative support services to the Trust and its
shareholders.
2. Administrative support services may include, but are not
limited to, the following eleven functions: (1) account openings: the
Broker or Administrator communicates account openings via computer
terminals located on the Broker or Administrator's premises; (2)
account closings: the Broker or Administrator communicates account
closings via computer terminals; (3) enter purchase transactions:
purchase transactions are entered through the Broker or
Administrator's own personal computer or through the use of a
toll-free telephone number; (4) enter redemption transactions: Broker
or Administrator enters redemption transactions in the same manner as
purchases; (5) account maintenance: Broker or Administrator provides
or arranges to provide accounting support all transactions. Broker or
Administrator also wires and reconciles all transactions, reviews the
activity in the Trust's accounts, and provides training and
supervision of its personnel; (6) interest posting: Broker or
Administrator posts and reinvests dividends to the Trust's accounts;
(7) prospectus and shareholder reports: Broker or Administrator
maintains and distributes current copies of prospectuses and
shareholder reports; (8) advertisements: the Broker or Administrator
continuously advertises the availability of its services and products;
(9) customer lists: The Broker or Administrator continuously provides
name of potential customers; (10) design services: the Broker or
Administrator continuously designs material to send to customers and
develops methods of making such materials accessible to customers; and
(11) consultation services: the Broker or Administrator continuously
provides information about the product needs of customers.
3. During the term of this Agreement, the Trust will pay FSC
for services pursuant to this Agreement, a monthly fee computed at the
annual rate of .75% of the average aggregate net asset value of the
shares of the Florida Municipal Income Fund held during the month. For
the month in which this Agreement becomes effective or terminates,
there shall be an appropriate proration of any fee payable on the
basis of the number of days that the Agreement is in effect during the
month.
4. FSC may from time-to-time and for such periods as it
deemed appropriate reduce its compensation to the extent any Class
expenses exceed such lower expense limitation as FSC may, by notice to
the Trust, voluntarily declare to be effective.
5. FSC will enter into separate written agreements with
various firms to provide certain of the services set forth in Paragaph
1 herein. FSC, in its sole discretion, may pay Brokers and
Administrators a periodic fee in respect of Shares owned from time to
time by their clients or customers. The schedules of such fees and the
basis upon which such fees will be paid shall be determined from time
to time by FSC in its sole discretion.
6. FSC will prepare reports to the Board of Trustees of the
Trust on a quarterly basis showing amounts expended hereunder including amounts
paid to Brokers and Administrators and the purpose for such payments.
In consideration of the mutual covenants set forth in the
Distributor's Contract dated September 9, 1991 between Municipal
Securities Income Trust and Federated Securities Corp., Municipal
Securities Income Trust executes and delivers this Exhibit on behalf
of the Fund, and with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
Witness the due execution hereof this 1st day of March, 1993.
ATTEST: MUNICIPAL SECURITIES INCOME TRUST
/S/ XXXX X. XXXXXXXXX By: /S/ XXXXXXX X. XXXXXX
Secretary President
(SEAL)
ATTEST: FEDERATED SECURITIES CORP.
/S/ S. XXXXXXX XXXXX By: /S/ XXXX XXXXXX III
Secretary Executive Vice President
(SEAL)
Exhibit I
MUNICIPAL SECURITIES INCOME TRUST
New Jersey Municipal Income Fund
The following provisions are hereby incorporated and made
part of the Distributor's Contract dated the 9th day of September,
1991, between Municipal Securities Income Trust and Federated
Securities Corp. with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
1. The Trust hereby appoints FSC to engage in activities
principally intended to result in the sale of shares of the Classes.
Pursuant to this appointment FSC is authorized to select a group of
brokers ("Brokers') to sell the above-listed Classes ("Shares"), the
the current offering price thereof as described and set forth in the
respective prospectuses of the Trust, and to render administrative
support services to the Trust and its shareholders. In addition, FSC
is authorized to select a group of Administrators ("Administrators")
to render administrative support services to the Trust and its
shareholders.
2. Administrative support services may include, but are not
limited to, the following eleven functions: (1) account openings: the
Broker or Administrator communicates account openings via computer
terminals located on the Broker or Administrator's premises; (2)
account closings: the Broker or Administrator communicates account
closings via computer terminals; (3) enter purchase transactions:
purchase transactions are entered through the Broker or
Administrator's own personal computer or through the use of a
toll-free telephone number; (4) enter redemption transactions: Broker
or Administrator enters redemption transactions in the same manner as
purchases; (5) account maintenance: Broker or Administrator provides
or arranges to provide accounting support all transactions. Broker or
Administrator also wires and reconciles all transactions, reviews the
activity in the Trust's accounts, and provides training and
supervision of its personnel; (6) interest posting: Broker or
Administrator posts and reinvests dividends to the Trust's accounts;
(7) prospectus and shareholder reports: Broker or Administrator
maintains and distributes current copies of prospectuses and
shareholder reports; (8) advertisements: the Broker or Administrator
continuously advertises the availability of its services and products;
(9) customer lists: The Broker or Administrator continuously provides
name of potential customers; (10) design services: the Broker or
Administrator continuously designs material to send to customers and
develops methods of making such materials accessible to customers; and
(11) consultation services: the Broker or Administrator continuously
provides information about the product needs of customers.
3. During the term of this Agreement, the Trust will pay FSC
for services pursuant to this Agreement, a monthly fee computed at the
annual rate of .75% of the average aggregate net asset value of the
shares of the New Jersey Municipal Income Fund held during the month.
For the month in which this Agreement becomes effective or terminates,
there shall be an appropriate proration of any fee payable on the
basis of the number of days that the Agreement is in effect during the
month.
4. FSC may from time-to-time and for such periods as it
deemed appropriate reduce its compensation to the extent any Class
expenses exceed such lower expense limitation as FSC may, by notice to
the Trust, voluntarily declare to be effective.
5. FSC will enter into separate written agreements with
various firms to provide certain of the services set forth in Paragaph
1 herein. FSC, in its sole discretion, may pay Brokers and
Administrators a periodic fee in respect of Shares owned from time to
time by their clients or customers. The schedules of such fees and the
basis upon which such fees will be paid shall be determined from time
to time by FSC in its sole discretion.
6. FSC will prepare reports to the Board of Trustees of the
Trust on a quarterly basis showing amounts expended hereunder including
amounts paid to Brokers and Administrators and the purpose for such payments.
In consideration of the mutual covenants set forth in the
Distributor's Contract dated September 9, 1991 between Municipal
Securities Income Trust and Federated Securities Corp., Municipal
Securities Income Trust executes and delivers this Exhibit on behalf
of the Fund, and with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
Witness the due execution hereof this 1st day of March, 1993.
ATTEST: MUNICIPAL SECURITIES INCOME TRUST
/S/ XXXX X. XXXXXXXXX By: /S/ XXXXXXX X. XXXXXX
Secretary President
(SEAL)
ATTEST: FEDERATED SECURITIES CORP.
/S/ S. XXXXXXX XXXXX By: /S/ XXXX X XXXXXX, III
Secretary Executive Vice President
(SEAL)
Exhibit J
MUNICIPAL SECURITIES INCOME TRUST
Texas Municipal Income Fund
The following provisions are hereby incorporated and made
part of the Distributor's Contract dated the 9th day of September,
1991, between Municipal Securities Income Trust and Federated
Securities Corp. with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
1. The Trust hereby appoints FSC to engage in activities
principally intended to result in the sale of shares of the Classes.
Pursuant to this appointment FSC is authorized to select a group of
brokers ("Brokers') to sell the above-listed Classes ("Shares"), the
the current offering price thereof as described and set forth in the
respective prospectuses of the Trust, and to render administrative
support services to the Trust and its shareholders. In addition, FSC
is authorized to select a group of Administrators ("Administrators")
to render administrative support services to the Trust and its
shareholders.
2. Administrative support services may include, but are not
limited to, the following eleven functions: (1) account openings: the
Broker or Administrator communicates account openings via computer
terminals located on the Broker or Administrator's premises; (2)
account closings: the Broker or Administrator communicates account
closings via computer terminals; (3) enter purchase transactions:
purchase transactions are entered through the Broker or
Administrator's own personal computer or through the use of a
toll-free telephone number; (4) enter redemption transactions: Broker
or Administrator enters redemption transactions in the same manner as
purchases; (5) account maintenance: Broker or Administrator provides
or arranges to provide accounting support all transactions. Broker or
Administrator also wires and reconciles all transactions, reviews the
activity in the Trust's accounts, and provides training and
supervision of its personnel; (6) interest posting: Broker or
Administrator posts and reinvests dividends to the Trust's accounts;
(7) prospectus and shareholder reports: Broker or Administrator
maintains and distributes current copies of prospectuses and
shareholder reports; (8) advertisements: the Broker or Administrator
continuously advertises the availability of its services and products;
(9) customer lists: The Broker or Administrator continuously provides
name of potential customers; (10) design services: the Broker or
Administrator continuously designs material to send to customers and
develops methods of making such materials accessible to customers; and
(11) consultation services: the Broker or Administrator continuously
provides information about the product needs of customers.
3. During the term of this Agreement, the Trust will pay FSC
for services pursuant to this Agreement, a monthly fee computed at the
annual rate of .75% of the average aggregate net asset value of the
shares of the Texas Municipal Income Fund held during the month. For
the month in which this Agreement becomes effective or terminates,
there shall be an appropriate proration of any fee payable on the
basis of the number of days that the Agreement is in effect during the
month.
4. FSC may from time-to-time and for such periods as it
deemed appropriate reduce its compensation to the extent any Class
expenses exceed such lower expense limitation as FSC may, by notice to
the Trust, voluntarily declare to be effective.
5. FSC will enter into separate written agreements with
various firms to provide certain of the services set forth in Paragaph
1 herein. FSC, in its sole discretion, may pay Brokers and
Administrators a periodic fee in respect of Shares owned from time to
time by their clients or customers. The schedules of such fees and the
basis upon which such fees will be paid shall be determined from time
to time by FSC in its sole discretion.
6. FSC will prepare reports to the Board of Trustees of the
Trust on a quarterly basis showing amounts expended hereunder including amounts
paid to Brokers and Administrators and the purpose for such payments.
In consideration of the mutual covenants set forth in the
Distributor's Contract dated September 9, 1991 between Municipal
Securities Income Trust and Federated Securities Corp., Municipal
Securities Income Trust executes and delivers this Exhibit on behalf
of the Fund, and with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
Witness the due execution hereof this 1st day of March, 1993.
ATTEST: MUNICIPAL SECURITIES INCOME TRUST
/S/ XXXX X. XXXXXXXXX By: /S/ XXXXXXX X. XXXXXX
Secretary President
(SEAL)
ATTEST: FEDERATED SECURITIES CORP.
/S/ S. XXXXXXX XXXXX By: /S/ XXXX X. XXXXXX, III
Secretary Executive Vice President
(SEAL)
Exhibit G
MUNICIPAL SECURITIES INCOME TRUST
Maryland Municipal Income Fund
The following provisions are hereby incorporated and made
part of the Distributor's Contract dated the 9th day of September,
1991, between Municipal Securities Income Trust and Federated
Securities Corp. with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
1. The Trust hereby appoints FSC to engage in activities
principally intended to result in the sale of shares of the Classes.
Pursuant to this appointment FSC is authorized to select a group of
brokers ("Brokers') to sell the above-listed Classes ("Shares"), the
the current offering price thereof as described and set forth in the
respective prospectuses of the Trust, and to render administrative
support services to the Trust and its shareholders. In addition, FSC
is authorized to select a group of Administrators ("Administrators")
to render administrative support services to the Trust and its
shareholders.
2. Administrative support services may include, but are not
limited to, the following eleven functions: (1) account openings: the
Broker or Administrator communicates account openings via computer
terminals located on the Broker or Administrator's premises; (2)
account closings: the Broker or Administrator communicates account
closings via computer terminals; (3) enter purchase transactions:
purchase transactions are entered through the Broker or
Administrator's own personal computer or through the use of a
toll-free telephone number; (4) enter redemption transactions: Broker
or Administrator enters redemption transactions in the same manner as
purchases; (5) account maintenance: Broker or Administrator provides
or arranges to provide accounting support all transactions. Broker or
Administrator also wires and reconciles all transactions, reviews the
activity in the Trust's accounts, and provides training and
supervision of its personnel; (6) interest posting: Broker or
Administrator posts and reinvests dividends to the Trust's accounts;
(7) prospectus and shareholder reports: Broker or Administrator
maintains and distributes current copies of prospectuses and
shareholder reports; (8) advertisements: the Broker or Administrator
continuously advertises the availability of its services and products;
(9) customer lists: The Broker or Administrator continuously provides
name of potential customers; (10) design services: the Broker or
Administrator continuously designs material to send to customers and
develops methods of making such materials accessible to customers; and
(11) consultation services: the Broker or Administrator continuously
provides information about the product needs of customers.
3. During the term of this Agreement, the Trust will pay FSC
for services pursuant to this Agreement, a monthly fee computed at the
annual rate of .75% of the average aggregate net asset value of the
shares of the Maryland Municipal Income Fund held during the month.
For the month in which this Agreement becomes effective or terminates,
there shall be an appropriate proration of any fee payable on the
basis of the number of days that the Agreement is in effect during the
month.
4. FSC may from time-to-time and for such periods as it
deemed appropriate reduce its compensation to the extent any Class
expenses exceed such lower expense limitation as FSC may, by notice to
the Trust, voluntarily declare to be effective.
5. FSC will enter into separate written agreements with
various firms to provide certain of the services set forth in Paragaph
1 herein. FSC, in its sole discretion, may pay Brokers and
Administrators a periodic fee in respect of Shares owned from time to
time by their clients or customers. The schedules of such fees and the
basis upon which such fees will be paid shall be determined from time
to time by FSC in its sole discretion.
6. FSC will prepare reports to the Board of Trustees of the
Trust on a quarterly basis showing amounts expended hereunder including amounts
paid to Brokers and Administrators and the purpose for such payments.
In consideration of the mutual covenants set forth in the
Distributor's Contract dated September 9, 1991 between Municipal
Securities Income Trust and Federated Securities Corp., Municipal
Securities Income Trust executes and delivers this Exhibit on behalf
of the Fund, and with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
Witness the due execution hereof this 1st day of June, 1993.
ATTEST: MUNICIPAL SECURITIES INCOME TRUST
/S/ XXXX X. XXXXXXXXX By: /S/ XXXXXXX X. XXXXXX
Secretary President
(SEAL)
ATTEST: FEDERATED SECURITIES CORP.
/S/ S. XXXXXXX XXXXX By: /S/ XXXX X. XXXXXX, III
Secretary Executive Vice President
(SEAL)
Exhibit L
MUNICIPAL SECURITIES INCOME TRUST
Pennsylvania Municipal Income Fund
Income Shares
The following provisions are hereby incorporated and made
part of the Distributor's Contract dated the 9th day of September,
1991, between Municipal Securities Income Trust and Federated
Securities Corp. with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
1. The Trust hereby appoints FSC to engage in activities
principally intended to result in the sale of shares of the Classes.
Pursuant to this appointment FSC is authorized to select a group of
brokers ("Brokers') to sell the above-listed Classes ("Shares"), the
the current offering price thereof as described and set forth in the
respective prospectuses of the Trust, and to render administrative
support services to the Trust and its shareholders. In addition, FSC
is authorized to select a group of Administrators ("Administrators")
to render administrative support services to the Trust and its
shareholders.
2. Administrative support services may include, but are not
limited to, the following eleven functions: (1) account openings: the
Broker or Administrator communicates account openings via computer
terminals located on the Broker or Administrator's premises; (2)
account closings: the Broker or Administrator communicates account
closings via computer terminals; (3) enter purchase transactions:
purchase transactions are entered through the Broker or
Administrator's own personal computer or through the use of a
toll-free telephone number; (4) enter redemption transactions: Broker
or Administrator enters redemption transactions in the same manner as
purchases; (5) account maintenance: Broker or Administrator provides
or arranges to provide accounting support all transactions. Broker or
Administrator also wires and reconciles all transactions, reviews the
activity in the Trust's accounts, and provides training and
supervision of its personnel; (6) interest posting: Broker or
Administrator posts and reinvests dividends to the Trust's accounts;
(7) prospectus and shareholder reports: Broker or Administrator
maintains and distributes current copies of prospectuses and
shareholder reports; (8) advertisements: the Broker or Administrator
continuously advertises the availability of its services and products;
(9) customer lists: The Broker or Administrator continuously provides
name of potential customers; (10) design services: the Broker or
Administrator continuously designs material to send to customers and
develops methods of making such materials accessible to customers; and
(11) consultation services: the Broker or Administrator continuously
provides information about the product needs of customers.
3. During the term of this Agreement, the Trust will pay FSC
for services pursuant to this Agreement, a monthly fee computed at the
annual rate of .75% of the average aggregate net asset value of the
Income Shares of the Pennsylvania Municipal Income Fund held during
the month. For the month in which this Agreement becomes effective or
terminates, there shall be an appropriate proration of any fee payable
on the basis of the number of days that the Agreement is in effect
during the month.
4. FSC may from time-to-time and for such periods as it
deemed appropriate reduce its compensation to the extent any Class
expenses exceed such lower expense limitation as FSC may, by notice to
the Trust, voluntarily declare to be effective.
5. FSC will enter into separate written agreements with
various firms to provide certain of the services set forth in Paragaph
1 herein. FSC, in its sole discretion, may pay Brokers and
Administrators a periodic fee in respect of Shares owned from time to
time by their clients or customers. The schedules of such fees and the
basis upon which such fees will be paid shall be determined from time
to time by FSC in its sole discretion.
6. FSC will prepare reports to the Board of Trustees of the
Trust on a quarterly basis showing amounts expended hereunder including amounts
paid to Brokers and Administrators and the purpose for such payments.
In consideration of the mutual covenants set forth in the
Distributor's Contract dated September 9, 1991 between Municipal
Securities Income Trust and Federated Securities Corp., Municipal
Securities Income Trust executes and delivers this Exhibit on behalf
of the Fund, and with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
Witness the due execution hereof this 1st day of June, 1993.
ATTEST: MUNICIPAL SECURITIES INCOME TRUST
/S/ XXXX X. XXXXXXXXX By: /S/ XXXXXXX X. XXXXXX
Secretary President
(SEAL)
ATTEST: FEDERATED SECURITIES CORP.
/S/ S. XXXXXXX XXXXX By: /S/ XXXX X. XXXXXX
Secretary Executive Vice President
(SEAL)
Exhibit M
MUNICIPAL SECURITIES INCOME TRUST
Virginia Municipal Income Fund
The following provisions are hereby incorporated and made
part of the Distributor's Contract dated the 9th day of September,
1991, between Municipal Securities Income Trust and Federated
Securities Corp. with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
1. The Trust hereby appoints FSC to engage in activities
principally intended to result in the sale of shares of the Classes.
Pursuant to this appointment FSC is authorized to select a group of
brokers ("Brokers') to sell the above-listed Classes ("Shares"), the
the current offering price thereof as described and set forth in the
respective prospectuses of the Trust, and to render administrative
support services to the Trust and its shareholders. In addition, FSC
is authorized to select a group of Administrators ("Administrators")
to render administrative support services to the Trust and its
shareholders.
2. Administrative support services may include, but are not
limited to, the following eleven functions: (1) account openings: the
Broker or Administrator communicates account openings via computer
terminals located on the Broker or Administrator's premises; (2)
account closings: the Broker or Administrator communicates account
closings via computer terminals; (3) enter purchase transactions:
purchase transactions are entered through the Broker or
Administrator's own personal computer or through the use of a
toll-free telephone number; (4) enter redemption transactions: Broker
or Administrator enters redemption transactions in the same manner as
purchases; (5) account maintenance: Broker or Administrator provides
or arranges to provide accounting support all transactions. Broker or
Administrator also wires and reconciles all transactions, reviews the
activity in the Trust's accounts, and provides training and
supervision of its personnel; (6) interest posting: Broker or
Administrator posts and reinvests dividends to the Trust's accounts;
(7) prospectus and shareholder reports: Broker or Administrator
maintains and distributes current copies of prospectuses and
shareholder reports; (8) advertisements: the Broker or Administrator
continuously advertises the availability of its services and products;
(9) customer lists: The Broker or Administrator continuously provides
name of potential customers; (10) design services: the Broker or
Administrator continuously designs material to send to customers and
develops methods of making such materials accessible to customers; and
(11) consultation services: the Broker or Administrator continuously
provides information about the product needs of customers.
3. During the term of this Agreement, the Trust will pay FSC
for services pursuant to this Agreement, a monthly fee computed at the
annual rate of .75% of the average aggregate net asset value of the
shares of the Virginia Municipal Income Fund held during the month.
For the month in which this Agreement becomes effective or terminates,
there shall be an appropriate proration of any fee payable on the
basis of the number of days that the Agreement is in effect during the
month.
4. FSC may from time-to-time and for such periods as it
deemed appropriate reduce its compensation to the extent any Class
expenses exceed such lower expense limitation as FSC may, by notice to
the Trust, voluntarily declare to be effective.
5. FSC will enter into separate written agreements with
various firms to provide certain of the services set forth in Paragaph
1 herein. FSC, in its sole discretion, may pay Brokers and
Administrators a periodic fee in respect of Shares owned from time to
time by their clients or customers. The schedules of such fees and the
basis upon which such fees will be paid shall be determined from time
to time by FSC in its sole discretion.
6. FSC will prepare reports to the Board of Trustees of the
Trust on a quarterly basis showing amounts expended hereunder including amounts
paid to Brokers and Administrators and the purpose for such payments.
In consideration of the mutual covenants set forth in the
Distributor's Contract dated September 9, 1991 between Municipal
Securities Income Trust and Federated Securities Corp., Municipal
Securities Income Trust executes and delivers this Exhibit on behalf
of the Fund, and with respect to the separate Class of Shares thereof,
first set forth in this Exhibit.
Witness the due execution hereof this 1st day of June, 1993.
ATTEST: MUNICIPAL SECURITIES INCOME TRUST
/S/ XXXX X. XXXXXXXXX By: /S/ XXXXXXX X. XXXXXX
Secretary President
(SEAL)
ATTEST: FEDERATED SECURITIES CORP.
/S/ S. XXXXXXX XXXXX By: /S/ XXXX X. XXXXXX
Secretary Executive Vice President
(SEAL)
Exhibit N
to the
Distributor's Contract
MUNICIPAL SECURITIES INCOME TRUST
PENNSYLVANIA MUNICIPAL INCOME FUND
CLASS B SHARES
The following provisions are hereby incorporated and made
part of the Distributor's Contract dated September 9, 1991, between
Municipal Securities Income Trust and Federated Securities Corp. with
respect to the Class of shares set forth above.
1. The Trust hereby appoints FSC to engage in activities
principally intended to result in the sale of shares of the
above-listed Class ("Shares"). Pursuant to this appointment,
FSC is authorized to select a group of financial institutions
("Financial Institutions") to sell Shares at the current
offering price thereof as described and set forth in the
respective prospectuses of the Trust.
2. During the term of this Agreement, the Trust will pay FSC for
services pursuant to this Agreement, a monthly fee computed
at the annual rate of .75% of the average aggregate net asset
value of the Shares held during the month. For the month in
which this Agreement becomes effective or terminates, there
shall be an appropriate proration of any fee payable on the
basis of the number of days that the Agreement is in effect
during the month.
3. FSC may from time-to-time and for such periods as it deems appropriate
reduce its compensation to the extent any Class' expenses exceed such
lower expense limitation as FSC may, by notice to the Trust,
voluntarily declare to be effective.
4. FSC will enter into separate written agreements with various
firms to provide certain of the services set forth in
Paragraph 1 herein. FSC, in its sole discretion, may pay
Financial Institutions a periodic fee in respect of Shares
owned from time to time by their clients or customers. The
schedules of such fees and the basis upon which such fees
will be paid shall be determined from time to time by FSC in
its sole discretion.
5. FSC will prepare reports to the Board of Trustees of the Trust on a
quarterly basis showing amounts expended hereunder including amounts
paid to Financial Institutions and the purpose for such
expenditures.
In consideration of the mutual covenants set forth in the
Distributor's Contract dated September 9, 1991 between Municipal
Securities Income Trust and Federated Securities Corp., Municipal
Securities Income Trust executes and delivers this Exhibit on behalf
of Pennsylvania Municipal Income Fund, and with respect to the Class B
Shares thereof, first set forth in this Exhibit.
Witness the due execution hereof this 1st day of
March, 1997.
ATTEST: MUNICIPAL SECURITIES INCOME TRUST
/S/ XXXX X. XXXXXXXXX By: /S/ XXXXXXX X. XXXXXX
Secretary President
ATTEST: FEDERATED SECURITIES CORP.
/S/ XXXXX X. XXXXXX By:/S/ XXXXX X. XXXXXX
Secretary Executive Vice President
