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<br />I <br /> <br />I <br /> <br />days or should the BANK be declared insolvent by a Federal bank regulatory agency, it shall <br />be the duty of CUSTODIAN, upon demand of DEPOSITOR (supported by proper evidence of <br />any of the above-listed circumstances), to surrender the above-described collateral to the <br />DEPOSITOR. DEPOSITOR may sell all or any part of such collateral and out of the proceeds <br />thereof, pay DEPOSITOR all damages and losses sustained by it, together with all expenses <br />of any and every kmd incurred by it on account of such failure or insolvency, or sale, <br />accounting to BANK for the remainder, if any, of said proceeds or collateral remaining <br />unsold. <br /> <br />XI <br /> <br />Any sale of such collateral, or any part thereof, made by DEPOSITOR hereunder may be <br />either at public or private sale; provided, however, it shall give to both CUSTODIAN and <br />BANK two (2) hours notice of the bme and place where such sale shall take place, and such <br />sale shall be to the highest bidder therefor for cash. DEPOSITOR and BANK shall have the <br />right to bid at such sale. <br /> <br />XII <br /> <br />If BANK shall desire to sell or otherwise dispose of anyone or more of said securities so <br />deposited with CUSTODIAN, it may substitute for anyone or more of such securities other <br />securities of the same or greater market value and of the character authorized by <br />DEPOSITOR in its collateral policy, pursuant to the terms of the custodial agreement. Such <br />right of substitution shall remain in full force and may be exercised by BANK as often as it <br />may desire. <br /> <br />1 <br /> <br />XIII <br /> <br />BANK shall cause CUSTODIAN to promptly forward to DEPOSITOR trust receipts covering <br />all such collateral held for BANK, mcluding substitute collateral as provided herein. BANK <br />shall also maintain records relating to all such collateral held for the benefit of DEPOSITOR. <br /> <br />XIV <br /> <br />Either DEPOSITOR or BANK shall have the right to terminate this Agreement prior to the <br />expuation date by advance written notice to the other of its election to do so, and this <br />Agreement shall be void from and after the expiration of ninety (90) days after the receipt of <br />such notice, provided all prOVisions of this agreement have been fulfilled. <br /> <br />Executed this L day of~, 20fi by the undersigned duly authorized officers <br />of the parties hereto. <br /> <br />FOR DEPOSITORY BANK: <br /> <br />It(~~,,- (j/z- <br /> <br />'(SIgnature) <br /> <br />-<3"----.. <br /> <br />~~ L e P reo .s"-c/ e "J <br />(Title) <br /> <br />3 <br />