0001379491-19-004255 Sample Contracts

AMENDMENT TO MASTER CUSTODY AGREEMENT
Master Custody Agreement • September 27th, 2019 • Franklin Municipal Securities Trust

This Amendment is dated as of the 1st day of August 2019, by and between each of the Investment Companies listed on Exhibit A hereto (the “Fund”) and for each of its Series listed on Exhibit A hereto, and The Bank of New York Mellon (formerly The Bank of New York) (the “Custodian”). Capitalized terms used but not defined herein shall have the meanings given in the Agreement (defined below).

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FRANKLIN MUNICIPAL SECURITIES TRUST on behalf of FRANKLIN CALIFORNIA HIGH YIELD MUNICIPAL FUND and FRANKLIN TENNESSEE MUNICIPAL BOND FUND AMENDED AND RESTATED INVESTMENT MANAGEMENT AGREEMENT
Investment Management Agreement • September 27th, 2019 • Franklin Municipal Securities Trust • California

THIS INVESTMENT MANAGEMENT AGREEMENT, dated as of December 29, 2017, is made between FRANKLIN MUNICIPAL SECURITIES TRUST, a Delaware statutory trust (the “Trust”), and FRANKLIN ADVISERS, INC., a California corporation (the “Manager”), and amends and restates the prior Management Agreement between the Trust and the Manager, dated as of February 26, 1992, and amended as of August 1, 1995, May 1, 2005 and January 1, 2008.

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