Exhibit 4(a) INVESTMENT ADVISORY AGREEMENT AGREEMENT, dated October 2, 2006, between BlackRock Multi-State Municipal Series Trust, a Massachusetts business trust (the "Trust"), on behalf of BlackRock Pennsylvania Municipal Bond Fund (the "Fund"), a...Investment Advisory Agreement • August 24th, 2006 • Merrill Lynch Multi State Municipal Series Trust • New York
Exhibit 4(b) SUB-INVESTMENT ADVISORY AGREEMENT AGREEMENT dated October 2, 2006, between BlackRock Advisors, LLC, a Delaware limited liability corporation (the "Advisor"), and BlackRock Investment Management, LLC, a Delaware corporation (the...Sub-Investment Advisory Agreement • August 24th, 2006 • Merrill Lynch Multi State Municipal Series Trust • New York
