<SEC-DOCUMENT>0001752724-20-152278.txt : 20200806
<SEC-HEADER>0001752724-20-152278.hdr.sgml : 20200806
<ACCEPTANCE-DATETIME>20200805174317
ACCESSION NUMBER:		0001752724-20-152278
CONFORMED SUBMISSION TYPE:	N-CEN
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20200531
FILED AS OF DATE:		20200806
DATE AS OF CHANGE:		20200805
EFFECTIVENESS DATE:		20200806

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Eaton Vance Floating-Rate Income Trust
		CENTRAL INDEX KEY:			0001288992
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		N-CEN
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21574
		FILM NUMBER:		201078801

	BUSINESS ADDRESS:	
		STREET 1:		TWO INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		617-482-8260

	MAIL ADDRESS:	
		STREET 1:		TWO INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
</SEC-HEADER>
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<DOCUMENT>
<TYPE>INTERNAL CONTROL RPT
<SEQUENCE>2
<FILENAME>NCEN_11097899205220206.txt
<TEXT>
REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM

To the Trustees and Shareholders of Eaton Vance Floating-Rate
Income Trust:

In planning and performing our audit of the financial statements
of Eaton Vance Floating-Rate Income Trust (the "Trust") as of
and for the year ended May 31, 2020, in accordance with the
standards of the Public Company Accounting Oversight Board
(United States) (PCAOB), we considered the Trust's internal
control over financial reporting, including controls over
safeguarding securities, as a basis for designing our auditing
procedures for the purpose of expressing our opinion on the
financial statements and to comply with the requirements of
Form N-CEN, but not for the purpose of expressing an opinion
on the effectiveness of the Trust's internal control over financial
reporting. Accordingly, we express no such opinion.

The management of the Trust is responsible for establishing and
maintaining effective internal control over financial reporting. In
fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of controls. A trust's internal control over financial
reporting is a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with
generally accepted accounting principles. A trust's internal
control over financial reporting includes those policies and
procedures that (1) pertain to the maintenance of records that, in
reasonable detail, accurately and fairly reflect the transactions
and dispositions of the assets of the trust; (2) provide reasonable
assurance that transactions are recorded as necessary to permit
preparation of financial statements in accordance with generally
accepted accounting principles, and that receipts and
expenditures of the trust are being made only in accordance with
authorizations of management and trustees of the trust; and (3)
provide reasonable assurance regarding prevention or timely
detection of unauthorized acquisition, use, or disposition of a
trust's assets that could have a material effect on the financial
statements.

Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Also,
projections of any evaluation of effectiveness to future periods
are subject to the risk that controls may become inadequate
because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists
when the design or operation of a control does not allow
management or employees, in the normal course of performing
their assigned functions, to prevent or detect misstatements on a
timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control over financial
reporting, such that there is a reasonable possibility that a
material misstatement of the trust's annual or interim financial
statements will not be prevented or detected on a timely basis.

Our consideration of the Trust's internal control over financial
reporting was for the limited purpose described in the first
paragraph and would not necessarily disclose all deficiencies in
internal control that might be material weaknesses under
standards established by the PCAOB. However, we noted no
deficiencies in the Trust's internal control over financial reporting
and its operation, including controls for safeguarding securities,
that we consider to be a material weakness, as defined above,
as of May 31, 2020.

This report is intended solely for the information and use of
management and the Trustees of Eaton Vance Floating-Rate
Income Trust and the Securities and Exchange Commission and
is not intended to be and should not be used by anyone other
than these specified parties.

/s/ Deloitte & Touche LLP

Boston, Massachusetts
July 17, 2020






</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>MATERIAL AMENDMENTS
<SEQUENCE>3
<FILENAME>NCEN_11809619667874904.htm
<TEXT>

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<a name="page_1"></a><a name="_bclPageBorder1"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">AMENDED AND RESTATED
BY-LAWS</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">OF</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">EATON VANCE
FLOATING-RATE INCOME TRUST</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; ARTICLE
I</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Trustees</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 1.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Number of
Trustees</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; The number of Trustees shall be fixed by the Trustees, provided,
however, that such number shall at no time be less than two or exceed fifteen.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 2.&#160; &#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Trustee Qualifications</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; All Trustees
shall satisfy the requirements set forth below in this Section 2 of this
Article I, except that such requirements are subject to waiver by a majority of
Trustees in office at the time of the nomination of such Trustee.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (A)&#160; Only persons
satisfying the following qualification requirements applicable to all Trustees
may be nominated, elected, appointed, qualified or seated (&#8220;nominated or
seated&#8221;) to serve as Trustees:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160; An individual nominated or seated as a Trustee shall be at
least twenty-one years of age and not older than the mandatory retirement age
determined from time to time by the Trustees or a committee of the Trustees, in
each case at the time the individual is nominated or seated;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160; An individual nominated or seated as a Trustee shall, at the
time the individual is nominated or seated, serve as a trustee or director of
no more than 5 issuers (including the Trust) having securities registered under
the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;)
(investment companies or individual series thereof having the same investment
adviser or investment advisers affiliated through a control relationship shall
all be counted as a single company for this purpose);</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except as set forth in this Section 2, an individual
nominated or seated as a Trustee shall not be an employee, officer, partner,
member, trustee, director or 5% or greater shareholder in any investment
adviser (other than the Trust&#8217;s investment adviser or any investment adviser
affiliated with the Trust&#8217;s investment adviser), collective investment vehicle
primarily engaged in the business of investing in &#8220;investment securities&#8221; (as
defined in the Investment Company Act of 1940, as amended (the &#8220;1940 Act&#8221;)) (an
&#8220;investment company&#8221;) or entity controlling or controlled by any investment
adviser (other than the Trust&#8217;s investment adviser or any investment adviser
affiliated with the Trust&#8217;s investment adviser) or investment company;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160; An individual nominated or seated as a Trustee shall not be
and shall not have been subject to any censure, order, consent decree
(including consent decrees in which the respondent has neither admitted nor
denied the findings) or adverse final action of any federal, state or foreign
governmental or regulatory authority (including self-regulatory organizations),
barring or suspending such individual from participation in or association with
any investment-related business or restricting such individual&#8217;s activities
with respect to any investment-related business (collectively, &#8220;Prohibited
Conduct&#8221;), nor shall an individual nominated or seated as a Trustee be the
subject of any investigation or proceeding that </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">could
reasonably be expected to result in an individual nominated or seated as a
Trustee failing to satisfy the requirements of this paragraph, nor shall any
individual nominated or seated as a Trustee be or have engaged in any conduct
which has resulted in, or could have reasonably been expected or would
reasonably be expected to result in, the Securities and Exchange Commission
(&#8220;SEC&#8221;) censuring, placing limitations on the activities, functions, or
operations of, suspending, or revoking the registration of any investment
adviser under Section 203(e) or (f) of the Investment Advisers Act of 1940, as
amended; and</font></p>
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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">1</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

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</DIV>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(5)&#160;&#160;&#160;&#160;&#160;&#160;&#160; An
individual nominated or seated as a Trustee shall not be and shall not have
been the subject of any of the ineligibility provisions contained in Section
9(b) of the 1940 Act that would permit, or could reasonably have been expected
or would reasonably be expected to permit the SEC by order to prohibit,
conditionally or unconditionally, either permanently or for a period of time,
such individual from serving or acting as an employee, officer, trustee,
director, member of an advisory board, investment adviser or depositor of, or
principal underwriter for, a registered investment company or affiliated person
(as defined in Section 2(a)(3) of the 1940 Act) of such investment adviser,
depositor, or principal underwriter.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; ARTICLE
II</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Officers
and Their Election</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 1.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Officers</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160;
The officers of the Trust shall be a President, a Treasurer, a Secretary, and
such other officers or agents as the Trustees may from time to time elect.&#160; It
shall not be necessary for any Trustee or other officer to be a holder of
shares in the Trust.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 2.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Election of
Officers</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; The Treasurer and Secretary shall be chosen annually by the
Trustees.&#160; The President shall be chosen annually by the Trustees.&#160; Except for
the offices of the President and Secretary, two or more offices may be held by
a single person.&#160; The officers shall hold office until their successors are
chosen and qualified.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 3.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Resignations
and Removals</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; Any officer of the Trust may resign by filing a written
resignation with the President or with the Trustees or with the Secretary,
which shall take effect on being so filed or at such time as may otherwise be
specified therein. &#160;The Trustees may at any meeting remove an officer.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; ARTICLE
III</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Powers and
Duties of Trustees and Officers</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 1.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Trustees</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; The
business and affairs of the Trust shall be managed by the Trustees, and they
shall have all powers necessary and desirable to carry out that responsibility,
so far as such powers are not inconsistent with the laws of the Commonwealth of
Massachusetts, the Declaration of Trust, or these By-Laws.&#160; Except as may be
required by Section 16(a) of the 1940 Act, Trustees shall be elected by
shareholders only at an annual meeting of shareholders or special meeting in
lieu of an annual meeting, provided that this restriction shall not apply to
special meetings called pursuant to Section 2.6(b)(i) of Appendix I to these
By-Laws.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 2.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Executive and
other Committees</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; The Trustees may elect from their own number an
executive committee to consist of not less than three nor more than five
members, which shall have the power and duty to conduct the current and
ordinary business of the Trust while the Trustees are not in </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">session,
and such other powers and duties as the Trustees may from time to time delegate
to such committee.&#160; The Trustees may also elect from their own number other
committees from time to time, the number composing such committees and the
powers conferred upon the same to be determined by the Trustees.&#160; Without
limiting the generality of the foregoing, the Trustees may appoint a committee
consisting of less than the whole number of Trustees then in office, which
committee may be empowered to act for and bind the Trustees and the Trust, as
if the acts of such committee were the acts of all the Trustees then in office,
with respect to the institution, prosecution, dismissal, settlement, review,
investigation or other disposition of any dispute, claim, action, suit or
proceeding which shall be pending or threatened to be brought before any court,
administrative agency or other adjudicatory body.</font></p>
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</DIV>
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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 3.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Chairperson of
the Trustees</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; The Trustees shall appoint from among their number a
Chairperson.&#160; The Chairperson shall preside at the meetings of the Trustees and
may call meetings of the Trustees and of any committee thereof whenever he
deems it necessary or desirable to do so.&#160; The Chairperson may in his
discretion preside at any meeting of the shareholders, and may delegate such
authority to another Trustee or officer of the Trust.&#160; The Chairperson shall
exercise and perform such additional powers and duties as from time to time may
be assigned to him by the Trustees, and shall have the resources and authority
appropriate to discharge the responsibilities of the office.</font><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160; </font></b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">A Trustee
elected or appointed as Chairperson shall not be considered an officer of the
Trust by virtue of such election or appointment.&#160; As used herein, the masculine
gender shall be deemed to denote the feminine or other gender.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 4.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">President</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160;
Subject to such supervisory powers, if any, as may be given by the Trustees to
the Chairperson of the Trustees, the President shall be the chief executive
officer of the Trust and subject to the control of the Trustees, he shall have
general supervision, direction and control of the business of the Trust and of
its employees and shall exercise such general powers of management as are
usually vested in the office of President of a corporation.&#160; In the event that
the Chairperson does not preside at a meeting of shareholders or delegate such
power and authority to another Trustee or officer of the Trust, the President
or his designee shall preside at such meeting.&#160; He shall have the power to
employ attorneys and counsel for the Trust and to employ such subordinate
officers, agents, clerks and employees as he may find necessary to transact the
business of the Trust.&#160; He shall also have the power to grant, issue, execute
or sign such powers of attorney, proxies, contracts, agreements or other documents
as may be deemed advisable or necessary in furtherance of the interests of the
Trust.&#160; The President shall have such other powers and duties as, from time to
time, may be conferred upon or assigned to him by the Trustees.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 5.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Treasurer</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160;
The Treasurer shall be the principal financial and accounting officer of the
Trust.&#160; He shall deliver all funds and securities of the Trust which may come
into his hands to such bank or trust company as the Trustees shall employ as
custodian in accordance with Article III of the Declaration of Trust.&#160; He shall
make annual reports in writing of the business conditions of the Trust, which
reports shall be preserved upon its records, and he shall furnish such other
reports regarding the business and condition as the Trustees may from time to
time require.&#160; The Treasurer shall perform such duties additional to foregoing
as the Trustees may from time to time designate.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 6.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Secretary</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160;
The Secretary shall record in books kept for the purpose all votes and proceedings
of the Trustees and the shareholders at their respective meetings.&#160; He shall
have custody of the seal, if any, of the Trust and shall perform such duties
additional to the foregoing as the Trustees may from time to time designate.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 7.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Other Officers</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160;
Other officers elected by the Trustees shall perform such duties as the
Trustees may from time to time designate, including executing or signing such
powers of attorney, proxies, contracts, agreements or other documents as may be
deemed advisable or necessary in furtherance of the interests of the Trust.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">3</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION
8.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Compensation</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; The Trustees and officers of the Trust may receive
such reasonable compensation from the Trust for the performance of their duties
as the Trustees may from time to time determine.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; ARTICLE
IV</font></p>

<p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Meetings
of Shareholders</font></p>

<p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 1.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Meetings</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; Meetings of shareholders, at which the shareholders shall
elect Trustees and transact such other business as may properly come before the
meeting, shall be held annually so long as required by NYSE American LLC, New
York Stock Exchange or such other exchange or trading system on which shares of
the Trust are principally traded.&#160; Meetings of the shareholders (or any class
or series) may be called at any time by the President, and shall be called by
the President or the Secretary at the request, in writing or by resolution, of
a majority of the Trustees, or at the written request of the holder or holders
of fifty-one percent or more of the total number of the then issued and
outstanding shares of the Trust entitled to vote at such meeting, except that
meetings of holders of preferred shares held for the purpose of considering
matters upon which holders of preferred shares are entitled to vote as a
separate class may be called at the written request of the holder or holders of
twenty-five percent or more of the total number of the then issued and
outstanding preferred shares of the Trust entitled to vote at such meeting. Any
such request shall state the purposes of the proposed meeting.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 2.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Place of
Meetings</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; Meetings of the shareholders shall be held at the principal
place of business of the Trust in Boston, Massachusetts, unless a different
place within the United States is designated by the Trustees and stated as
specified in the respective notices or waivers of notice with respect thereto;
provided that the Trust may, subject to any applicable law, and upon
designation by a majority of Trustees, hold meetings of shareholders solely by
means of remote communications, or may hold &#8220;hybrid&#8221; meetings where some
participants attend in person and others attend by means of remote
communications. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 3.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Notice of
Meetings</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; Notice of all meetings of the shareholders, stating the time,
place and the purposes for which the meetings are called, shall be given by the
Secretary to each shareholder entitled to vote thereat, and to each shareholder
who under the By-Laws is entitled to such notice, by delivering (by electronic,
telephonic, computerized or other alternative means as may be approved by
resolutions adopted by the Trustees, which authorization is received not more
than six months before delivery of such notice) or mailing, postage paid,
addressed to such address as it appears upon the books of the Trust, at least
ten days no more than ninety days before the time fixed for the meeting, and
the person given such notice shall make an affidavit with respect thereto.&#160; If
any shareholder shall have failed to inform the Trust of his address, no notice
need be sent to him.&#160; No notice need be given to any shareholder if a written
waiver of notice, executed before or after the meeting by the shareholder or
his attorney thereunto authorized, is filed with the records of the meeting.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 4.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Quorum</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160;
Except as otherwise provided by law, to constitute a quorum for the transaction
of any business at any meeting of shareholders, there must be present, in
person or by proxy, holders of a majority of the total number of shares of the
then issued and outstanding shares of the Trust entitled to vote at such
meeting; provided that if a class (or series) of shares is entitled to vote as
a separate class (or series) on any matter, then in the case of that matter a
quorum shall consist of the holders of a majority of the total number of shares
of the then issued and outstanding shares of that class (or series) entitled to
vote at the meeting.&#160; Shares owned directly or indirectly by the Trust, if any,
shall not be deemed outstanding for this purpose.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If
a quorum, as above defined, shall not be present for the purpose of any vote
that may properly come before any meeting of shareholders at the time and place
of any meeting, the shareholders present in person or by proxy and entitled to
vote at such meeting on such matter holding a majority of the shares </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">present and entitled to vote on such matter may by vote
adjourn the meeting from time to time to be held at the same place without
further notice than by announcement to be given at the meeting until a quorum,
as above defined, entitled to vote on such matter, shall be present, whereupon
any such matter may be voted upon at the meeting as though held when originally
convened.</font></p>
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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 5.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Voting</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; At
each meeting of the shareholders, every shareholder of the Trust shall be
entitled to one vote in person or by proxy for each of the then issued and
outstanding shares of the Trust then having voting power in respect of the
matter upon which the vote is to be taken, standing in his name on the books of
the Trust at the time of the closing of the transfer books for the meeting, or,
if the books be not closed for any meeting, on the record date fixed as
provided in Section 4 of Article VI of these By-Laws for determining the
shareholders entitled to vote at such meeting, or if the books be not closed
and no record date be fixed, at the time of the meeting.&#160; The record holder of
a fraction of a share shall be entitled in like manner to corresponding
fraction of a vote.&#160; Notwithstanding the foregoing, the Trustees may, in
connection with the establishment of any class (or series) of shares or in
proxy materials for any meeting of shareholders or in other solicitation
materials or by vote or other action duly taken by them, establish conditions
under which the several classes (or series) shall have separate voting rights
or no voting rights.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All elections of
Trustees shall be conducted in any manner approved at the meeting of the
shareholders at which said election is held, and shall be by ballot if so
requested by any shareholder entitled to vote thereon.&#160; Subject to any
provision of applicable binding law, the Declaration of Trust, these By-Laws or
a resolution of the Trustees specifying a greater or a lesser vote requirement,
for the transaction of any item of business that properly comes before any
meeting of shareholders, (i) with respect to the election of Trustees, other
than a Contested Election, a nominee receiving the affirmative vote of a
plurality of the shares represented in person or by proxy at any meeting at
which a quorum is present shall be deemed and declared elected, (ii) with
respect to a Contested Election, a nominee receiving the affirmative vote of a
majority of the shares outstanding and entitled to vote with respect to such
matter at such meeting shall be deemed and declared elected and (iii) for all
other items of business, upon the affirmative vote of a majority of the votes
cast in person or by proxy at any meeting at which a quorum is present and
entitled to vote on the subject matter, such matter shall be deemed and
declared approved.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">For purposes of
the foregoing paragraph, &#8220;Contested Election&#8221; shall mean any election of
Trustees in which the number of persons nominated for election as Trustees with
respect to a given class of shares of the Trust in accordance with Article IV,
Section 8 hereof exceeds the number of Trustees to be elected with respect to
such class, with the determination that any election of Trustees is a Contested
Election to be made by the Secretary or other officer of the Trust prior to the
time the Trust mails its initial proxy statement in connection with such
election of Trustees; provided, however, that a Contested Election does not
include any election of Trustees by holders of the Trust&#8217;s preferred shares
voting as a separate class pursuant to Section 2.6(a) or (b) of Appendix I
hereto. If, prior to the time the Trust mails its initial proxy statement in connection
with such election of Trustees, one or more persons nominated for election as a
Trustee are withdrawn or deemed to be ineligible pursuant to these By-Laws,
such that the number of persons nominated for election as Trustee no longer
exceeds the number of Trustees to be elected, such election shall not be
considered a Contested Election.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">In the event of
a Contested Election, if one (or more) nominees are elected who were not
Trustees prior to such Contested Election (&#8220;Non-Incumbents&#8221;), then the Non-Incumbents
shall first fill any vacancies and then succeed those Trustees who served as
Trustees prior to such Contested Election and stood for reelection at such
Contested Election with the fewest affirmative votes.&#160; If an annual meeting
(the &#8220;Current Annual Meeting&#8221;) is called for the purpose of considering the
election of a Trustee whose term is expiring at the time of such annual meeting
(an &#8220;Expiring Trustee&#8221;) or such Trustee&#8217;s successor, and the Expiring Trustee
is not elected and such Expiring Trustee&#8217;s successor is not elected and
qualified (in either case, </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">because the required vote or
quorum is not obtained, or otherwise), then such Trustee shall remain a member
of the relevant class of Trustees, holding office until the annual meeting held
in the third succeeding year following the year set for the Current Annual
Meeting in the initial notice thereof and until the election and qualification
of such Trustee&#8217;s successor, if any, or until such Trustee sooner dies,
resigns, retires or is removed. </font></p>
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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:12.0pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 6.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Proxies</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; A</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;">ny shareholder entitled
to vote upon any matter at any meeting of the shareholders may so vote by
proxy, provided that such proxy to act is authorized to act by (i) a written
instrument, dated not more than six months before the meeting and executed
either by the shareholder or by his or her duly authorized attorney in fact
(who may be so authorized by a writing or by any non-written means permitted by
the laws of the Commonwealth of Massachusetts) or (ii) such electronic,
telephonic, computerized or other alternative means as may be approved by a
resolution adopted by the Trustees, which authorization is received not more
than six months before the initial session of the meeting.&#160; Proxies shall be
delivered to the Secretary of the Trust or other person responsible for
recording the proceedings before being voted.&#160; A proxy with respect to shares
held in the name of two or more persons shall be valid if executed by one of
them unless at or prior to exercise of such proxy the Trust receives a specific
written notice to the contrary from any one of them.&#160; Unless otherwise
specifically limited by their terms, proxies shall entitle the holder thereof
to vote at any adjournment of a meeting.&#160; A proxy purporting to be exercised by
or on behalf of a shareholder shall be deemed valid unless challenged at or
prior to its exercise and the burden of proving invalidity shall rest on the
challenger.&#160; At all meetings of the shareholders, unless the voting is
conducted by inspectors, all questions relating to the qualifications of
voters, the validity of proxies, and the acceptance or rejection of votes shall
be decided by the chairperson of the meeting.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 7.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Consents</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160;
Any action which may be taken by shareholders may be taken without a meeting if
the holder or holders of fifty-one percent or more of the total number of the
then issued and outstanding shares of the Trust entitled to vote on such matter
(or such higher proportion as would be required by the Declaration of Trust or
these By-Laws with respect to such action at an in-person meeting) consent to
the action in writing and the written consents are filed with the records of
the meetings of shareholders.&#160; Such consents shall be treated for all purposes as
a vote taken at a meeting of shareholders.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 8.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Notice of
Shareholder Business and Nominations</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;text-decoration:none;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (A) </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Annual
Meetings of Shareholders</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; (1) Nominations of persons for election to the
Board of Trustees and the proposal of business to be considered by the
shareholders may be made at an annual meeting of shareholders or special
meeting in lieu of an annual meeting (a) pursuant to the notice of meeting
described in Section 3 of this Article of these By-Laws; (b) by or at the
direction of the Board of Trustees; or (c) by any shareholder of the Trust who
was a shareholder of record at the time of giving of notice provided for in
Section 3 of this Article of these By-Laws, who is entitled to vote at the
meeting, who complied with the notice provisions set forth in this Section 8
and who held at least $2,000 in market value, or 1%, of the Trust&#8217;s securities
entitled to be voted on the nomination or proposal at the meeting for at least
one year by the date such shareholder submitted such nomination or proposal.&#160;
As used in these By-Laws, an &#8220;annual meeting&#8221; is a meeting of the shareholders
of the Trust that is required pursuant to the first sentence of Section 1 of
this Article IV.&#160; As used in these By-Laws, a &#8220;special meeting in lieu of an
annual meeting&#8221; is a meeting held in lieu of an annual meeting that is not held
in a given year if so required, whether the omission be by oversight or otherwise.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (2)&#160; For
nominations or other business properly to be brought before an annual meeting
or special meeting in lieu of an annual meeting by a shareholder pursuant to
clause (c) of paragraph (A)(1) of this Section 8, the shareholder must have
given timely notice thereof in writing to the Secretary of the Trust and such
other business must be a proper matter for shareholder action.&#160; To be timely, a
shareholder&#8217;s notice shall be delivered to the Secretary at the principal
executive offices of the Trust not later than the close of </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">business
on the ninetieth day nor earlier than the close of business on the one
hundred-twentieth day prior to the first anniversary of the preceding year&#8217;s
annual meeting or, as applicable, special meeting in lieu of an annual meeting;
provided, however, that in the event that the date of the annual meeting or
special meeting in lieu of an annual meeting is more than thirty days before or
more than sixty days after such anniversary date, notice by the shareholder to
be timely must be so delivered not earlier than the close of business on the
later of the ninetieth day prior to such annual meeting or special meeting in
lieu of an annual meeting or the tenth day following the day on which public
announcement of the date of such meeting is first made.&#160; In no event, shall the
public announcement of an adjournment of an annual meeting or special meeting
in lieu of an annual meeting commence a new time period for the giving of a
shareholder&#8217;s notice as described above.&#160; Such shareholder&#8217;s notice shall set
forth:</font></p>
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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (a) as to each person
whom the shareholder proposes to nominate for election or reelection as a
Trustee:&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i) &#160;&#160;&#160;&#160;&#160;&#160;&#160; the name, age, business address and residence
address of such proposed nominee  and of any Proposed Nominee Associated
Person;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (ii) &#160;&#160;&#160;&#160;&#160;&#160; the principal occupation or employment of such
proposed nominee;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (iii) &#160;&#160;&#160;&#160;&#160; the class or series and number of all shares of
the Trust which are owned  beneficially or of record, directly or indirectly,
by such proposed nominee and any  Proposed Nominee Associated Person, and the
name and address of the record  holder(s) of such shares (if different than the
beneficial owner(s)) as they appear &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; on the records of the Trust;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (iv) &#160;&#160;&#160;&#160;&#160; the name of each nominee holder of shares owned
beneficially but not of record  by such proposed nominee or any Proposed
Nominee Associated Person, and the  number of such shares held by each such
nominee holder;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (v) &#160;&#160;&#160;&#160;&#160;&#160; whether and the extent to which any derivative
instrument, swap, option, warrant, &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; short interest, hedge or profit
interest or other transaction has been entered into by &#160;&#160;&#160;&#160;&#160; or on behalf of
such proposed nominee, or any Proposed Nominee &#160;&#160;&#160; Associated Person, with
respect to shares of the Trust;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (vi) &#160;&#160;&#160;&#160;&#160; whether and the extent to which any other
transaction, agreement, arrangement or &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; understanding (including any
short position or any borrowing or lending of shares) &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; has been made by
or on behalf of such proposed nominee, or any Proposed &#160; Nominee Associated
Person, the effect or intent of any of the foregoing being to &#160;&#160;&#160;&#160;&#160;&#160;&#160; mitigate
loss to, or to manage risk or benefit of share price changes for, such &#160;&#160;&#160; proposed
nominee, or any Proposed Nominee Associated Person, or to increase or &#160;&#160;&#160;&#160;&#160;&#160; decrease
the voting power or pecuniary or economic interest of such proposed &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; nominee,
or any Proposed Nominee Associated Person, with respect to the shares;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (vii) &#160;&#160;&#160;&#160; a representation as to whether such proposed
nominee is an &#8220;interested person,&#8221; as &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; defined under Section
2(a)(19) of the 1940 Act and sufficient information about  the proposed nominee
to permit counsel to the Trust to confirm such &#160; representation, including
information with respect to each relationship set forth in &#160; Section 2(a)(19)
of the 1940 Act which may cause such proposed nominee to be &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; an
interested person of the Trust or a representation that no such relationship
exists; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">7</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (viii) &#160;&#160;&#160; information to establish
to the satisfaction of the Board of Trustees that the &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; proposed nominee
satisfies the trustee qualifications as set out in these By-Laws; &#160; and</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (ix) &#160;&#160;&#160;&#160;&#160; any other information relating to such proposed
nominee or Proposed Nominee &#160; Associated Person that would be required to be
disclosed in a proxy statement or &#160;&#160;&#160;&#160; other filings required to be made in
connection with solicitations of proxies for &#160;&#160;&#160;&#160;&#160;&#160; election of directors in an
election contest pursuant to Section 14 of the Exchange  Act (even if an
election contest is not involved); and</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b) as to any other
business that the shareholder proposes to bring before the meeting, a brief
description of the business desired to be brought before the meeting, the
reasons for conducting such business at the meeting and any material interest
in such business of such shareholder and the beneficial owner, if any, on whose
behalf the proposal is made; and </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (c) as to the
shareholder giving the notice and the beneficial owner, if any, on whose behalf
the nomination or proposal is made:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i) &#160;&#160;&#160;&#160;&#160;&#160;&#160; the
name and address of such shareholder, as they appear on the Trust&#8217;s books, and &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; of
such beneficial owner and of any Shareholder Associated Person;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (ii) &#160;&#160;&#160;&#160;&#160;&#160; the class/series and number of shares of the
Trust which are owned beneficially &#160; and of record by such shareholder, such
beneficial owner and any Shareholder  Associated Person;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;(iii) &#160;&#160;&#160;&#160; whether and the extent to which any derivative
instrument, swap option, warrant,  short interest, hedge or profit interest or
other transaction has been entered into by &#160;&#160;&#160;&#160;&#160;&#160; or on behalf of such person,
or any Shareholder Associated Person, with respect to &#160;&#160;&#160;&#160;&#160;&#160; shares of the
Trust;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (iv) &#160;&#160;&#160;&#160;&#160; whether and the extent to which any other
transaction, agreement, arrangement or &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; understanding (including any
short position or any borrowing or lending of shares) &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; has been made by
or on behalf of such person, or any Shareholder Associated &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Person,
the effect or intent of any of the foregoing being to mitigate loss to, or to &#160;&#160;&#160;&#160;&#160;&#160; manage
risk or benefit of stock price changes for, such person, or any Shareholder &#160;&#160;&#160;&#160; Associated
Person, or to increase or decrease the voting power or pecuniary or &#160; economic
interest of such person, or any Shareholder Associated Person, with &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; respect
to shares of the Trust;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (v) &#160;&#160;&#160;&#160;&#160;&#160; a description of all agreements, arrangements, or
understandings (whether written &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; or oral) between such person, or any
Shareholder Associated Person and any &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; proposed nominee or any other
person or persons (including their names) pursuant &#160;&#160;&#160;&#160; to which the
proposal(s) or nomination(s) are being made by such person, and any &#160; material
interest of such person, or any Shareholder Associated Person, in such  proposal
or nomination, including any anticipated benefit therefrom to such &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; person,
or any Shareholder Associated Person;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (vi)&#160;&#160;&#160;&#160;&#160;&#160; a representation that the shareholder, or group
of shareholders, giving notice &#160;&#160;&#160;&#160;&#160;&#160; intends to appear in person at the annual
meeting or special meeting in lieu of an &#160;&#160;&#160; annual meeting to make the
proposals or nominate the persons named in its notice; &#160;&#160; and</font></p>


<a name="_bclFooter8"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">8</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_9"></a><a name="_bclPageBorder9"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (vii) &#160;&#160;&#160;&#160; any other information relating to such person
that would be required to be disclosed &#160;&#160;&#160;&#160;&#160;&#160;&#160; in a proxy statement or other
filings required to be made in connection with the &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; solicitation of
proxies for election of directors in an election contest pursuant to &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Section
14 of the Exchange Act (even if an election contest is not involved).&#160;&#160;&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; For purposes of the
foregoing, a &#8220;Proposed Nominee Associated Person&#8221; of any proposed nominee shall
mean (A) any person acting in concert with such proposed nominee and (B) any
direct or indirect beneficial owner of shares owned of record or beneficially
by such proposed nominee or person acting in concert with the proposed
nominee.&#160; A &#8220;Shareholder Associated Person&#8221; of any beneficial or record shareholder
shall mean (A) any person acting in concert with such shareholder, (B) any
direct or indirect beneficial owner of shares owned of record or beneficially
by such shareholder or any person acting in concert with such shareholder, (C)
any person controlling, controlled by or under common control with such
shareholder or a Shareholder Associated Person and (D) any member of the
immediate family of such shareholder or Shareholder Associated Person.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (3)&#160; A
shareholder of record, or group of shareholders of record, providing notice of
any proposal or nomination proposed to be made at an annual meeting or special
meeting in lieu of an annual meeting shall further update and supplement such
notice, if necessary, so that:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i)&#160;&#160;&#160; &#160;&#160;&#160;&#160; the information provided or required to be
provided in such notice pursuant to &#160;&#160;&#160; paragraph (A)(2) of this Article IV,
Section 8 shall be true and correct as of the &#160;&#160;&#160;&#160;&#160; record date for determining
the shareholders entitled to receive notice of the annual &#160;&#160;&#160;&#160;&#160;&#160; meeting or
special meeting in lieu of an annual meeting, and such update and &#160;&#160; supplement
shall be delivered to or be mailed and received by the Secretary at the  principal
executive offices of the Trust not later than five business days after the &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; record
date for determining the shareholders entitled to receive notice of such &#160;&#160;&#160;&#160; annual
meeting or special meeting in lieu of an annual meeting; and</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;(ii)&#160;&#160;&#160; &#160;&#160; any subsequent information reasonably requested
by the Board of Trustees to &#160;&#160;&#160;&#160; determine that any proposed nominee has met
the trustee qualifications as set out &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; in these By-Laws is provided,
and such update and supplement shall be delivered &#160;&#160;&#160;&#160;&#160;&#160;&#160; to or be mailed and
received by the Secretary at the principal executive offices of &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the
Trust not later than five business days after the request by the Board of
Trustees &#160;&#160; for subsequent information regarding trustee qualifications has
been delivered to &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; or mailed and received by such shareholder of
record, or group of shareholders of &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; record, providing notice of any
nomination.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (4)&#160;
Notwithstanding anything in the second sentence of paragraph (A)(2) of this
Section 8 to the contrary, in the event that the number of Trustees to be
elected by shareholders of the Trust to the Board of Trustees is increased and
there is no public announcement naming all of the nominees for Trustee or
specifying the size of the increased Board of Trustees made by the Trust at
least one hundred days prior to the first anniversary of the preceding year&#8217;s
annual meeting, a shareholder&#8217;s notice required by this Section 8 shall also be
considered timely, but only with respect to nominees for any new positions
created by such increase, if it shall be delivered to the Secretary at the
principal executive offices of the Trust not later than the close of business
on the tenth day following the day on which such public announcement is first
made by the Trust.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (B)&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Special
Meetings of Shareholders</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; As used in these By-Laws, &#8220;special meeting&#8221;
refers to any meeting of the Trust&#8217;s shareholders other than an annual meeting
or special meeting in lieu of an annual meeting.&#160; Only such business shall be
conducted by a special meeting of shareholders as shall have been </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">brought before the meeting pursuant to the Trust&#8217;s notice
of meeting given by or at the direction of a majority of the Trustees.&#160; Except
as may be required by Section 16(a) of the 1940 Act, Trustees shall be elected
only at an annual meeting of shareholders or special meeting in lieu of an
annual meeting and not at a special meeting, provided that this restriction
shall not apply to special meetings called pursuant to Section 2.6(b)(i) of
Appendix I to these By-Laws.</font></p>
<a name="_bclFooter9"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">9</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (C)&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">General</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160;
(1) Only such persons who are nominated in accordance with the procedures set
forth in this Section 8 shall be eligible to serve as Trustees and only such
business shall be conducted at a meeting of shareholders as shall have been
brought before the meeting in accordance with the procedures set forth in this
Section 8.&#160; Except as otherwise provided by law, the Declaration of Trust or
these By-Laws, the Chairperson (or such officer of the Trust or its investment
adviser presiding at the meeting) shall have the power and duty to determine
whether a nomination or any business proposed to be brought before the meeting
was made, or proposed, as the case may be, in accordance with the procedures
set forth in this Section 8 and, if any proposed nomination or business is not in
compliance with this Section 8, to declare that such defective proposal or
nomination shall be disregarded.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (2)&#160; For
purposes of this Section 8, &#8220;public announcement&#8221; shall mean disclosure in a
press release reported by the Dow Jones News Service, Associated Press or
comparable national news service or in a document publicly filed by the Trust
with the SEC pursuant to Section 13, 14 or 15(d) of the Exchange Act.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (3)&#160;
Notwithstanding the foregoing provisions of this Section 8, a shareholder shall
also comply with all applicable requirements of the Exchange Act and the rules
and regulations thereunder with respect to the matters set forth in this
Section 8.&#160; Nothing in this Section 8 shall be deemed to affect any rights of
(a) shareholders to request inclusion of proposals in the Trust&#8217;s proxy
statement pursuant to Rule 14a-8 under the Exchange Act or (b) the holders of
any class of preferred shares of beneficial interest to elect Trustees under
specified circumstances.</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">ARTICLE V</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Trustees
Meetings</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 1.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Meetings</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160;
The Trustees may in their discretion provide for regular or stated meetings of
the Trustees.&#160; Meetings of the Trustees other than regular or stated meetings
shall be held whenever called by the Chairperson and at least one other Trustee
at the time being in office, or by a majority of the Trustees at the time being
in office.&#160; Any or all of the Trustees may participate in a meeting by means of
a conference telephone or similar communications equipment by means of which
all persons participating in the meeting can hear each other at the same time,
and participation by such means shall constitute presence in person at a
meeting.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 2.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Notices</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160;
Notice of regular or stated meetings need not be given.&#160; Notice of the time and
place of each meeting other than regular or stated meeting shall be given by
the Secretary or by one of the Trustee(s) calling the meeting and shall be
mailed to each Trustee at his or her business address for delivery at least two
days before the meeting, or shall be transmitted electronically to each Trustee
at his or her electronic delivery address or personally delivered to him at
least one day before the meeting.&#160; Such notice may, however, be waived by all
the Trustees.&#160; Notice of a meeting need not be given to any Trustee if a
written waiver of notice, executed by him before or after the meeting, is filed
with the records of the meeting, or to any Trustee who attends the meeting without
protesting prior thereto or at its commencement the lack of notice to him.&#160; A
notice or waiver of notice need not specify the purpose of any special meeting.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


<a name="_bclFooter10"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">10</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 3.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Consents</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; Any action required or permitted to be taken at any meeting
of the Trustees may be taken by the Trustees without a meeting if a written
consent thereto is signed by a majority of the Trustees (or such higher
proportion as would be required by the Declaration of Trust or these By-Laws
with respect to such action at an in-person meeting) and filed with the records
of the Trustees' meetings. A Trustee may deliver his consent to the Trust by
facsimile machine or other electronic communication equipment. Such consent
shall be treated as a vote at a meeting for all purposes.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 4.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Place of
In-Person Meetings</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; The Trustees may hold their meetings within or without
the Commonwealth of Massachusetts.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 5.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Quorum and
Manner of Acting</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; Except as otherwise required by the Declaration of
Trust, these By-Laws or by statute, a majority of the Trustees in office shall
be present in person at any regular or stated meeting or special meeting of the
Trustees in order to constitute a quorum for the transaction of business at
such meeting and the act of a majority of the Trustees present at any such
meeting, at which a quorum is present, shall be the act of the Trustees.&#160; In
the event that action is to be taken with respect to the death, declination,
resignation, retirement, removal or incapacity of one or more Trustees, a
quorum for the transaction of such business and any other business conducted at
such meeting and (except as otherwise required by the Declaration of Trust, by
these By-Laws or by statute) shall be a majority of the remaining Trustees then
in office.&#160; In the absence of a quorum, a majority of the Trustees present may
adjourn the meeting from time to time until a quorum shall be present.&#160; Notice
of any adjourned meeting need not be given.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">ARTICLE VI</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Shares
of Beneficial Interest</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 1.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Certificates
for Shares of Beneficial Interest</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; Certificates for shares of beneficial
interest of any class of shares of the Trust, if issued, shall be in such form
as shall be approved by the Trustees. They shall be signed by, or in the name
of, the Trust by the President and by the Treasurer and may, but need not be,
sealed with seal of the Trust; provided, however, that where such certificate
is signed by a transfer agent or a transfer clerk acting on behalf of the Trust
or a registrar other than a Trustee, officer or employee of the Trust, the
signature of the President or Treasurer and the seal may be facsimile.&#160; In case
any officer or officers who shall have signed, or whose facsimile signature or
signatures shall have been used on any such certificate or certificates, shall
cease to be such officer or officers of the Trust whether because of death,
resignation or otherwise, before such certificate or certificates shall have
been delivered by the Trust, such certificate or certificates may nevertheless
be adopted by the Trust and be issued and delivered as though the person or
persons who signed such certificate or certificates or whose facsimile
signatures shall have been used thereon had not ceased to be such officer or
officers of the Trust.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 2.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Transfer of
Shares</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; Transfers of shares of beneficial interest of any shares of the
Trust shall be made only on the books of the Trust by the owner thereof or by
his attorney thereunto authorized by a power of attorney duly executed and
filed with the Secretary or a transfer agent, and only upon the surrender of
any certificate or certificates for such shares.&#160; The Trust shall not impose
any restrictions upon the transfer of the shares of the Trust, but this
requirement shall not prevent the charging of customary transfer agent fees.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 3.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Transfer Agent
and Registrar; Regulations</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; The Trust shall, if and whenever the Trustees
shall so determine, maintain one or more transfer offices or agencies, each in
the charge of a transfer agent designated by the Trustees, where the shares of
beneficial interest of the Trust shall be directly transferable.&#160; The Trust
shall, if and whenever the Trustees shall so determine, maintain one or more
registry offices, each in the charge of a registrar designated by the Trustees,
where such shares shall be registered, and no </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">certificate
for shares of the Trust in respect of which a transfer agent and/or registrar
shall have been designated shall be valid unless countersigned by such transfer
agent and/or registered by such registrar.&#160; The principal transfer agent may be
located within or without the Commonwealth of Massachusetts and shall have
charge of the stock transfer books, lists and records, which shall be kept
within or without Massachusetts in an office which shall be deemed to be the
stock transfer office of the Trust.&#160; The Trustees may also make such additional
rules and regulations as it may deem expedient concerning the issue, transfer
and registration of certificates for shares of the Trust.</font></p>
<a name="_bclFooter11"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">11</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_12"></a><a name="_bclPageBorder12"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">


<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 4.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Closing of
Transfer Books and Fixing Record Date</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; The Trustees may fix in advance a
time which shall be not more than seventy-five days before the date of any
meeting of shareholders, or the date for the payment of any dividend or the
making or any distribution to shareholders or the last day on which the consent
or dissent of shareholders may be effectively expressed for any purpose, as the
record date for determining the shareholders having the right to notice of and
to vote at such meeting, and any adjournment thereof, or the right to receive
such dividend or distribution or the right to give such consent or dissent, and
in such case only shareholders of record on such record date shall have such
right, notwithstanding any transfer of shares on the books of the Trust after
the record date.&#160; The Trustees may, without fixing such record date, close the
transfer books for all or any part of such period for any of the foregoing
purposes.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 5.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Lost, Destroyed
or Mutilated Certificates</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; The holder of any shares of the Trust shall
immediately notify the Trust of any loss, destruction or mutilation of the
certificate therefor, and the Trustees may, in their discretion, cause a new
certificate or certificates to be issued to him, in case of mutilation of the
certificate, upon the surrender of the mutilated certificate, or, in case of
loss or destruction of the certificate, upon satisfactory proof of such loss or
destruction and, in any case, if the Trustees shall so determine, upon the
delivery of a bond in such form and in such sum and with such surety or sureties
as the Trustees may direct, to indemnify the Trust against any claim that may
be made against it on account of the alleged loss or destruction of any such
certificate.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 6.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Record Owner of
Shares</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; The Trust shall be entitled to treat the person in whose name any
share of the Trust is registered on the books of the Trust as the owner
thereof, and shall not be bound to recognize any equitable or other claim to or
interest in such share or shares on the part of any other person.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">ARTICLE VII</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Preferred Shares</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">The rights and preferences of the Trust&#8217;s preferred shares
are as set forth on Appendix I, which is incorporated herein in its entirety.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">ARTICLE VIII</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Fiscal
Year</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 1.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Fiscal Year</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160;
The fiscal year of the Trust shall end on such date as the Trustees may, from
time to time, determine.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">ARTICLE IX</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Seal</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


<a name="_bclFooter12"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">12</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_13"></a><a name="_bclPageBorder13"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION
1.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Seal</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; The Trustees may adopt a seal of the Trust which shall be
in such form and shall have such inscription thereon as the Trustees may from
time to time prescribe.</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">ARTICLE X</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Inspection
of Books</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 1.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Inspection of
Books by Shareholders</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; The Trustees shall from time to time determine
whether and to what extent, and at what times and places, and under what
conditions and regulations the accounts and books of the Trust or any of them
shall be open to the inspection of the shareholders; and no shareholder shall
have any right to inspect any account or book or document of the Trust except
as conferred by law or authorized by the Trustees or by resolution of the
shareholders.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 2.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Inspection
of Books by Trustees</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; The results of all actions taken at a meeting of the
Trustees, or by written consent of the Trustees, shall be recorded by the
Secretary of the meeting appointed by the Board of Trustees.&#160; Each Trustee
shall be entitled to examine the Declaration of Trust and these By-Laws.&#160;
Subject to such policies and procedures as may be adopted by the Board of
Trustees, a Trustee shall also be entitled to access the Trust&#8217;s other records
and to receive such other information about the Trust as is reasonably
necessary for the Trustee to perform his or her duties to the Trust and its
shareholders and otherwise only to the extent required by applicable law.&#160;
Subject to such policies and procedures, a majority of Trustees shall determine
in good faith whether any request for such access to records or such other
information is reasonably necessary for the Trustees to perform such duties,
and such determination shall be binding upon the requesting Trustee and all
other parties.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">ARTICLE
XI</font></p>

<p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Principal
Custodian and Sub&#8209;custodians</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 1.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Principal
Custodian</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; The following provisions shall apply to the employment of the
principal Custodian pursuant to the Declaration of Trust:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (A)&#160; The Trust may
employ the principal Custodian:</font></p>

<p style="margin-bottom:0in;margin-left:1.5in;margin-right:.5in;margin-top:0in;text-align:justify;text-indent:-1.0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:1.5in;margin-right:.5in;margin-top:0in;text-align:justify;text-indent:-1.0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (1)&#160;&#160;&#160;&#160;&#160;&#160;&#160; To
hold securities owned by the Trust and deliver the same upon written order or
oral order, if confirmed in writing, or by such electro-mechanical or
electronic devices as are agreed to by the Trust and such Custodian;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:1.5in;margin-right:.5in;margin-top:0in;text-align:justify;text-indent:-1.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (2)&#160;&#160;&#160;&#160;&#160;&#160;&#160; To
receive and receipt for any moneys due to the Trust and deposit the same in its
own banking department or, as the Trustees may direct, in any bank, trust
company or banking institution approved by such Custodian, provided that all
such deposits shall be subject only to the draft or order of such Custodian; and</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.5in;margin-right:.5in;margin-top:0in;text-align:justify;text-indent:-1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (3)&#160;&#160;&#160;&#160;&#160;&#160;&#160; To
disburse such funds upon orders or vouchers.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;margin-right:.5in;margin-top:0in;text-align:justify;text-indent:-1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (B)&#160;&#160;&#160;&#160;&#160;&#160; The
Trust may also employ such Custodian as its agent:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.5in;margin-right:.5in;margin-top:0in;text-align:justify;text-indent:-1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (1)&#160;&#160;&#160;&#160;&#160;&#160;&#160; To
keep the books and accounts of the Trust and furnish clerical and accounting
services; and</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">13</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.5in;margin-right:.5in;margin-top:0in;text-align:justify;text-indent:-1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (2)&#160;&#160;&#160;&#160;&#160;&#160;&#160; To compute the net
asset value per share in the manner approved by the Trust.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;margin-right:.5in;margin-top:0in;text-align:justify;text-indent:-1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (C)&#160;&#160;&#160;&#160;&#160;&#160; All
of the foregoing services shall be performed upon such basis of compensation as
may be agreed upon between the Trust and the principal Custodian.&#160; If so
directed by vote of the holders of a majority of the outstanding shares of
Trust, the principal Custodian shall deliver and pay over all property of the
Trust held by it as specified in such vote. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;margin-right:.5in;margin-top:0in;text-align:justify;text-indent:-1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;margin-right:.5in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(D)&#160;&#160;&#160;&#160;&#160;&#160; In
case of the resignation, removal or inability to serve of any such Custodian,
the Trustees shall promptly appoint another bank or trust company meeting the
requirements of the Declaration of Trust as successor principal Custodian.&#160; The
agreement with the principal Custodian shall provide that the retiring
principal Custodian shall, upon receipt of notice of such appointment, deliver
the funds and property of the Trust in its possession to and only to such
successor, and that pending appointment of a successor principal Custodian, or
a vote of the shareholders to function without a principal Custodian, the
principal Custodian shall not deliver funds and property of the Trust to the
Trustees, but may deliver them to a bank or trust company doing business in
Boston, Massachusetts, of its own selection, having an aggregate capital,
surplus and undivided profits, as shown by its last published report, of not
less than $2,000,000, as the property of the Trust to be held under terms
similar to those on which they were held by the retiring principal Custodian.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 2.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Sub-Custodian</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160;
The Trust may also authorize the principal Custodian to employ one or more sub&#8209;custodians
from time to time to perform such of the acts and services of the Custodian and
upon such terms and conditions as may be agreed upon between the Custodian and
sub&#8209;custodian. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 3.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Securities
Depositories, etc.</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160; Subject to such rules, regulations and orders as the
SEC may adopt, the Trust may authorize or direct the principal Custodian or any
sub&#8209;custodian to deposit all or any part of the securities in or with one
or more depositories or clearing agencies or systems for the central handling
of securities or other book&#8209;entry systems approved by the Trust, or in or
with such other persons or systems as may be permitted by the SEC, or otherwise
in accordance with the Act, pursuant to which all securities of any particular
class or series of any issuer deposited within the system are treated as
fungible and may be transferred or pledged by bookkeeping entry without
physical delivery of such securities, provided that all such deposits shall be
subject to withdrawal only upon the order of the Trust or the principal
Custodian or the sub&#8209;custodian.&#160; The Trust may also authorize the deposit
in or with one or more eligible foreign custodians (or in or with one or more
foreign depositories, clearing agencies or systems for the central handling of
securities) of all or part of the Trust&#8217;s foreign assets, securities, cash and
cash equivalents in amounts reasonably necessary to effect the Trust&#8217;s foreign
investment transactions, in accordance with such rules, regulations and orders
as the SEC may adopt.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; ARTICLE
XII</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Limitation of
Liability and Indemnification</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 1.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Limitation of
Liability</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; Provided they have exercised reasonable care and have acted
under the reasonable belief that their actions are in the best interest of the
Trust, the Trustees shall not be responsible for or liable in any event for neglect
or wrongdoing of them or any officer, agent, employee or investment adviser of
the Trust, but nothing contained in the Declaration of Trust or herein shall
protect </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">any Trustee against any liability to which he
would otherwise be subject by reason of willful misfeasance, bad faith, gross
negligence or reckless disregard of the duties involved in the conduct of his
office.</font></p>
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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">14</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 2.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Indemnification of Trustees and Officers</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160;
Subject to the exceptions and limitations contained in this section, every
person who is, or has been, a Trustee or officer of the Trust or, at the
Trust&#8217;s request, serves, or has served, as a&#160; director, trustee or officer of
another organization in which the Trust has an interest as a shareholder,
creditor or otherwise (hereinafter referred to as a &#8220;Covered Person&#8221;), shall be
indemnified by the Trust to the fullest extent permitted by applicable law, as
in effect from time to time (&#8220;Applicable Law&#8221;), against any and all liabilities
and expenses, including amounts paid in satisfaction of judgments, in
compromise or settlement, or as fines and penalties, and counsel fees, incurred
by or for such Covered Person in connection with the preparation for, defense
or disposition of, any claim,&#160; demand, action, suit, investigation, inquiry or
proceeding of any and every kind, whether actual or threatened (collectively, a
&#8220;Claim&#8221;), in which such Covered Person becomes involved as a party or otherwise
by virtue of being or having been a Covered Person.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No indemnification shall be provided hereunder
to a Covered Person to the extent such indemnification is prohibited by
Applicable Law.&#160; In no event shall the Trust be obligated to indemnify a
Covered Person against liabilities to the Trust or any shareholder to which
such Covered Person would otherwise be subject by reason of the willful
misfeasance, bad faith, gross negligence or reckless disregard of the duties
involved in the conduct of such Covered Person&#8217;s office (collectively,
&#8220;Disabling Conduct&#8221;). </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The rights of indemnification herein provided
may be insured against by policies maintained by the Trust, shall be severable,
shall not affect any other rights to which any Covered Person may now or
hereafter be entitled and shall inure to the benefit of the heirs, executors
and administrators of such Covered Person. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To the maximum extent permitted by Applicable
Law, the Trust shall make advances for the payment of expenses reasonably
incurred by or for a Covered Person in connection with any Claim for which the
Covered Person is entitled to indemnification by the Trust prior to final
disposition thereof upon receipt of an undertaking by or on behalf of the
Covered Person to repay such amount if it is ultimately determined that such
Covered Person is not entitled to indemnification by the Trust.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The obligation of the Trust to indemnify a
Covered Person and/or make advances for the payment of expenses incurred by or
for such Covered Person under this section may be made subject to conditions
and procedures as the Trustees determine are necessary or appropriate to
protect the Trust from the risk that a Covered Person will ultimately be
determined to be not entitled to indemnification hereunder.&#160; Except as
otherwise provided in such conditions and procedures, the Covered Person shall
be entitled to the benefit of a rebuttable presumption that the Covered Person
has not engaged in Disabling Conduct and that the Covered Person is entitled to
indemnification hereunder. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Nothing contained in
this section shall affect any rights to indemnification to which any Covered
Person or other person may be entitled by contract or otherwise under law or
prevent the Trust from entering into any contract to provide indemnification to
any Covered Person or other person. Without limiting the foregoing, the Trust
may, in connection with the acquisition of assets subject to liabilities or a
merger or consolidation, assume the obligation to indemnify any person
including a Covered Person or otherwise contract to provide such indemnification,
and such indemnification shall not be subject to the terms of this section.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 3.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Indemnification
of Shareholders</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; In case any shareholder or former shareholder shall be
held to be personally liable solely by reason of his being or having been a
shareholder and not because of </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">his acts or omissions
or for some other reason, the shareholder or former shareholder (or his heirs,
executors, administrators or other legal representatives, or in the case of a
corporation or other entity, its corporate or other general successor) shall be
entitled out of the Trust estate to be held harmless from and indemnified
against all loss and expense arising from such liability.&#160; The Trust shall,
upon request by the shareholder, assume the defense of any claim made against
any shareholder for any act or obligation of the Trust and satisfy any judgment
thereon.&#160; A holder of shares of a series shall be entitled to indemnification
hereunder only out of assets allocated to that series.</font></p>
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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">15</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; ARTICLE
XIII</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Litigation,
Limitation of Liability, Applicable Law and Conflicts of Law</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 1.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Litigation</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; To the maximum extent
permitted by law, any exercise of power described in Section 2.18 of the
Declaration of Trust shall be final, and binding on all persons (including
shareholders of the Trust).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 2.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Derivative Actions</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (A)&#160; The purpose of
this Article XIII, Section 2 is to protect the interests of the Trust and the
shareholders of the Trust by establishing a process that will permit legitimate
inquiries and claims to be made and considered while avoiding the time,
expense, distraction and other harm that can be caused to the Trust and
shareholders as a result of spurious shareholder demands and derivative
actions.&#160; In addition to any requirements applicable to shareholders of a
Massachusetts business corporation that are not inconsistent with the terms of
this Declaration of Trust, a shareholder or shareholders may bring a derivative
action on behalf of the Trust only in accordance with the terms of this Article
XIII, Section 2. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (B)&#160; Except to the
extent explicitly permitted under the federal securities laws, no shareholder
or group of shareholders shall have the right to bring or maintain any court
action, proceeding or claim on behalf of the Trust or any series or class of
shares of the Trust without first making demand on the Trustees requesting the
Trustees to bring or maintain such action, proceeding or claim.&#160; Such demand
shall not be excused under any circumstances, including claims of alleged
interest on the part of the Trustees, unless the&#160; demanding shareholder(s) make
a specific showing that irreparable nonmonetary injury to the Trust or series
or class of shares of the Trust that the shareholder(s) could not reasonably
have prevented would otherwise result.&#160; Such demand shall be mailed to the
Secretary of the Trust at the Trust&#8217;s principal office and shall set forth with
particularity the nature of the proposed court action, proceeding or claim and
the essential facts relied upon by the shareholder(s) to support the
allegations made in the demand.&#160; Within 90 days of receipt of any such demand,
the Trustees shall consider the merits of the claim and determine whether
commencing or maintaining a suit would be in the best interests of the Trust or
the affected series or class, as applicable.&nbsp; If, during this 90-day
period, the Trustees conclude that a determination as to the maintenance of a
suit cannot reasonably be made within the 90-day period, the Trustees may
extend the 90-day period by a period of time that the Trustees consider will be
sufficient to permit them to make such a determination, not to exceed 60
calendar days from the end of the initial 90-day period.&#160; In their sole
discretion, the Trustees may submit the question of whether to proceed with the
claim to a vote of shareholders of the Trust or a series or class of shares, as
appropriate.&#160; To the maximum extent permitted by law, any decision by the
Trustees to bring, maintain or settle (or not to bring, maintain or settle)
such court action, proceeding or claim, or to submit the matter to a vote of
shareholders, shall be final and binding upon the shareholders.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (C)&#160; Any Trustee
acting in connection with any demand or any proceeding relating to a claim on
behalf of or for the benefit of the Trust or any series or class thereof who is
not an &#8220;interested person&#8221; of the Trust within the meaning of Section 2(a)(19)
of the 1940 Act shall be deemed to be independent and </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">disinterested
with respect to any actions taken in connection with any such demand,
proceeding, or claim.&#160; Without limiting the foregoing, a Trustee otherwise independent
for purposes of considering the demand shall not be considered not to be
independent and disinterested by virtue of (i) the fact that such Trustee
receives remuneration for his service as a Trustee of the Trust or as a trustee
or director of one or more investment companies with the same or an affiliated
investment adviser or underwriter, (ii) the amount of such remuneration, (iii)
the fact that such Trustee was identified in the demand as a potential
defendant or witness or was named as a defendant in any derivative action, or
(iv) the fact that the Trustee approved or participated in the act being
challenged in the demand if the act resulted in no material personal benefit to
the Trustee or, if the Trustee is also a shareholder, no material personal
benefit that is not shared pro rata with other shareholders of the series or
class of which the Trustee is a shareholder.</font></p>
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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">16</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (D)&#160; For purposes of
this Article XIII, Section 2, the Trustees may designate a committee to
consider a demand by shareholders.&#160; Such committee (or the Trustees in the
absence of a committee) shall be entitled to retain counsel or other advisers
in considering the merits of the demand.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 3.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Exclusive Right
of Action</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; To the maximum extent permitted by law, each shareholder of the
Trust acknowledges and agrees that any alleged injury to the Trust&#8217;s property,
any diminution in the value of the shareholder&#8217;s shares, or any other claim
arising out of or relating to an allegation regarding the actions, inaction, or
omissions of or by the Trustees, the Trust&#8217;s officers or the investment adviser
of the Trust is a legal claim belonging only to the Trust and not to the
shareholders individually. Accordingly, all shareholders shall be bound to
bring any and all such claims pursuant only to the provisions of Article XIII,
Section 2.&#160; The shareholders acknowledge that, for these purposes, the Trust is
deemed to be a separate and distinct legal entity.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 4.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Direct Claims</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160;
No group of shareholders shall have the right to bring or maintain a direct
action or claim for monetary damages against the Trust or the Trustees
predicated upon an express or implied right of action under the Declaration of
Trust or the 1940 Act, nor shall any single shareholder, who is similarly
situated to one or more other shareholders with respect to the alleged injury,
have the right to bring such an action, unless such group of shareholders or
shareholder has obtained authorization from the Trustees to bring the action.&#160;
The requirement of authorization shall not be excused under any circumstances,
including claims of alleged interest on the part of the Trustees.&#160; A request
for authorization shall be mailed to the Secretary of the Trust at the Trust&#8217;s
principal office and shall set forth with particularity the nature of the
proposed court action, proceeding or claim and the essential facts relied upon
by the group of shareholders or shareholder to support the allegations made in
the request.&#160; The Trustees shall consider such request within 90 days of its receipt
by the Trust.&#160; In their sole discretion, the Trustees may submit the matter to
a vote of shareholders of the Trust or series or class of shares, as
appropriate.&#160; Any decision by the Trustees to settle or to authorize (or not to
settle or to authorize) such court action, proceeding or claim, or to submit
the matter to a vote of shareholders, shall be made in their business judgment
and shall be binding on all shareholders.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 5. &#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">No Implied
Duties or Liabilities</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; Except to the extent required by applicable law or
expressly stated herein, nothing in the Declaration of Trust or these By-Laws
shall be deemed to create any fiduciary duty or other legal obligation (a) on
the part of the Trustees or Trust officers to the Trust, the shareholders or any
other Person; or (b) on the part of the Trust to any person.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 6.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Applicable Law</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160;
The Trust is governed by and construed and administered according to the laws
of the Commonwealth of Massachusetts.&#160; The Trust is of the type commonly called
a Massachusetts business trust, and without limiting the provisions hereof, the
Trust may exercise all powers which are ordinarily exercised by such a trust.&#160;
Any suit, action or proceeding brought by or in the right of any shareholder of
the Trust or any person claiming any interest in any shares of the Trust
seeking to enforce any provision of, or based on any matter arising out of,
related to, or in connection with, the Declaration of </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Trust
or the Trust, any series or class or any shares of the Trust, including without
limitation any claim (whether direct, derivative or otherwise) of any nature
against or on behalf of the Trust, any series or class, the Trustees or
officers of the Trust or the investment adviser of the Trust, shall be brought
exclusively in the United States District Court for the District of
Massachusetts, or to the extent such court does not have jurisdiction than such
actions and/or claims, shall be brought in the Superior Court of Suffolk County
for the Commonwealth of Massachusetts.&#160; If a shareholder or group of
shareholders bring a claim in a jurisdiction other than as specified above, and
venue for such claim is subsequently changed through legal process to the
United States District Court for the District of Massachusetts or the Superior Court
of Suffolk County for the Commonwealth of Massachusetts, such shareholder(s)
shall reimburse all expenses incurred by the Trust or any other person in
effecting such change of venue.</font></p>
<a name="_bclFooter17"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">17</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 7.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Provisions in
Conflict with Law or Regulations</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (A) The provisions of
the Declaration of Trust and By-Laws are severable, and if the Trustees shall
determine, with the advice of legal counsel, that any of such provisions is in
conflict with the 1940 Act, the Internal Revenue code of 1986 or with other
applicable laws and regulations, the conflicting provision shall be deemed
never to have constituted a part of the Declaration of Trust or By-Laws, as
applicable; provided, however, that such determination shall not affect any of
the remaining provisions of the Declaration of Trust or By-Laws or render
invalid or improper any action taken or omitted prior to such determination.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (B)&#160; If any provision
of the Declaration of Trust or By-Laws shall be held invalid or unenforceable
in any jurisdiction, such invalidity or unenforceability shall attach only to
such provision in such jurisdiction and shall not in any manner affect such
provisions in any other jurisdiction or any other provision of the Declaration
of Trust or By-Laws in any jurisdiction.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">ARTICLE XIV</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Report to
Shareholders</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 1.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Reports to
Shareholders</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160; The Trustees shall at least semi-annually transmit by
written, electronic, computerized or other alternative means to the
shareholders a written report of the financial statements of the Trust, which
shall at least annually be certified by independent public accountants.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">ARTICLE XV</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Amendments</font></p>

<p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 1.&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Amendments</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.&#160;
These By-Laws may be amended at any meeting of the Trustees by a vote of a
majority of the Trustees then in office; provided, however, that any provision
of Article XII may be amended only by a two-thirds vote of such Trustees.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:0in;margin-right:124.95pt;margin-top:3.95pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Dated:&#160; March 23, 2020</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">18</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_19"></a><a name="_bclPageBorder19"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Appendix
I</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;margin-right:6.15pt;margin-top:0in;text-align:center;text-indent:-.1pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">STATEMENT CREATING MULTIPLE SERIES OF VARIABLE RATE TERM
PREFERRED SHARES; DESIGNATION OF SERIES C-1 VRTP SHARES, SERIES C-2 VRTP
SHARES, SERIES C-3 VRTP SHARES, SERIES C-4 VRTP SHARES, SERIES L-1 VRTP SHARES
AND SERIES L-2 VRTP SHARES</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.35pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:10.25pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series C-1: A series of up to 800
preferred shares, par value $0.01 per share, liquidation preference $100,000
per share, is hereby authorized and designated as the &#8220;Series C-1 Variable Rate
Term Preferred Shares&#8221; and also referred to herein as the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series C-1 VRTP
Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; (and such series and any other series of Variable Rate Term
Preferred Shares authorized and designated herein or hereafter authorized and
designated being referred to herein as a &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">,&#8221; a &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series of VRTP
Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; or &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">VRTP Shares of a Series</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">,&#8221; and shares of all such Series
being referred to herein, individually, as a &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">VRTP Share</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; and,
collectively, as the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">VRTP Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:10.25pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.85pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Shares
of Series C-1 VRTP Shares shall be issued on one or more dates determined by
the Board of Trustees of the Trust or pursuant to their delegated authority;
have, in the case of the initial issuance of Series C-1 VRTP Shares, a Dividend
Rate equal to the &#8220;Index Rate&#8221; plus 1.45% per annum for the first Dividend
Period; and have such other preferences, voting powers, limitations as to dividends,
qualifications and terms and conditions of issuance, cancellation and
redemption and such other terms, in addition to those required by applicable
law or as set forth in the Declaration of Trust, as set forth in this
Amendment, including Appendix A hereto. The Series C-1 VRTP Shares shall
constitute a separate series of preferred shares of the Trust and each share of
Series C-1 VRTP Shares shall be identical. Any reference to a &#8220;Series of VRTP
Shares&#8221; herein shall be deemed to include a reference to the Series C-1 VRTP
Shares and any reference to the Series C-1 VRTP Shares or other terms
designated above specifically with respect to the Series C-1 VRTP Shares shall
be deemed to apply only to such Series of VRTP Shares and not to any other
Series of VRTP Shares. Except as otherwise provided with respect to any
additional Series of VRTP Shares, the terms and conditions of this Amendment
apply to each Series of VRTP</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.3pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series C-2: A series of up to 800
preferred shares, par value $0.01 per share, liquidation preference $100,000
per share, is hereby authorized and designated as the &#8220;Series C-2 Variable Rate
Term Preferred Shares&#8221; and also referred to herein as the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series C-2 VRTP
Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">.&#8221; Shares of Series C-2 VRTP Shares shall be issued on one or more
dates determined by the Board of Trustees of the Trust or pursuant to their
delegated authority and have such preferences, voting powers, limitations as to
dividends, qualifications and terms and conditions of issuance, cancellation
and redemption and such other terms, in addition to those required by
applicable law or as set forth in the Declaration of Trust, as set forth in
this Amendment, including Appendix B hereto. The Series C-2 VRTP Shares shall
constitute a separate series of preferred shares of the Trust and each share of
Series C-2 VRTP Shares shall be identical. Any reference to a &#8220;Series of VRTP
Shares&#8221; herein shall be deemed to include a reference to the Series C-2 VRTP
Shares and any reference to the Series C-2 VRTP Shares or other terms designated
above specifically with respect to the Series C-2 VRTP Shares shall be deemed
to apply only to such Series of VRTP Shares and not to any other Series of VRTP
Shares.&#160; Except as otherwise provided with respect to any additional Series of
VRTP Shares, the terms and conditions of this Amendment apply to each Series of
VRTP</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Shares.</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">1</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_20"></a><a name="_bclPageBorder20"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.3pt;margin-top:3.8pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series
C-3: A series of up to 800 preferred shares, par value $0.01 per share,
liquidation preference $100,000 per share, is hereby authorized and designated
as the &#8220;Series C-3 Variable Rate Term Preferred Shares&#8221; and also referred to
herein as the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series C-3 VRTP Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">.&#8221; Shares of Series C-3 VRTP Shares
shall be issued on one or more dates determined by the Board of Trustees of the
Trust or pursuant to their delegated authority and have such preferences,
voting powers, limitations as to dividends, qualifications and terms and
conditions of issuance, cancellation and redemption and such other terms, in
addition to those required by applicable law or as set forth in the Declaration
of Trust, as set forth in this Amendment, including Appendix C hereto. The
Series C-3 VRTP Shares shall constitute a separate series of preferred shares
of the Trust and each share of Series C-3 VRTP Shares shall be identical. Any
reference to a &#8220;Series of VRTP Shares&#8221; herein shall be deemed to include a
reference to the Series C-3 VRTP Shares and any reference to the Series C-3
VRTP Shares or other terms designated above specifically with respect to the
Series C-3 VRTP Shares shall be deemed to apply only to such Series of VRTP
Shares and not to any other Series of VRTP Shares.&#160; Except as otherwise
provided with respect to any additional Series of VRTP Shares, the terms and
conditions of this Amendment apply to each Series of VRTP</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.3pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series C-4: A series of up to 800
preferred shares, par value $0.01 per share, liquidation preference $100,000
per share, is hereby authorized and designated as the &#8220;Series C-4 Variable Rate
Term Preferred Shares&#8221; and also referred to herein as the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series C-4 VRTP
Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">.&#8221; Shares of Series C-4 VRTP Shares shall be issued on one or more
dates determined by the Board of Trustees of the Trust or pursuant to their
delegated authority and have such preferences, voting powers, limitations as to
dividends, qualifications and terms and conditions of issuance, cancellation
and redemption and such other terms, in addition to those required by
applicable law or as set forth in the Declaration of Trust, as set forth in
this Amendment, including Appendix D hereto. The Series C-4 VRTP Shares shall
constitute a separate series of preferred shares of the Trust and each share of
Series C-4 VRTP Shares shall be identical. Any reference to a &#8220;Series of VRTP
Shares&#8221; herein shall be deemed to include a reference to the Series C-4 VRTP
Shares and any reference to the Series C-4 VRTP Shares or other terms
designated above specifically with respect to the Series C-4 VRTP Shares shall
be deemed to apply only to such Series of VRTP Shares and not to any other
Series of VRTP Shares.&#160; Except as otherwise provided with respect to any
additional Series of VRTP Shares, the terms and conditions of this Amendment
apply to each Series of VRTP</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.3pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series L-1: A series of up to 800
preferred shares, par value $0.01 per share, liquidation preference $100,000
per share, is hereby authorized and designated as the &#8220;Series L-1 Variable Rate
Term Preferred Shares&#8221; and also referred to herein as the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series L-1 VRTP
Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">.&#8221; Shares of Series L-1 VRTP Shares shall be issued on one or more
dates determined by the Board of Trustees of the Trust or pursuant to their
delegated authority and have such preferences, voting powers, limitations as to
dividends, qualifications and terms and conditions of issuance, cancellation
and redemption and such other terms, in addition to those required by
applicable law or as set forth in the Declaration of Trust, as set forth in
this Amendment, including Appendix E hereto. The Series L-1 VRTP Shares shall
constitute a separate series of preferred shares of the Trust and each share of
Series L-1 VRTP Shares shall be identical. Any reference to a &#8220;Series of VRTP
Shares&#8221; herein shall be deemed to include a reference to the Series L-1 VRTP
Shares and any reference to the Series L-1 VRTP Shares or other terms
designated above specifically with respect to the Series L-1 VRTP Shares shall
be deemed to apply only to such Series of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-1.5pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">VRTP</font></p>









<a name="_bclFooter20"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">2</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_21"></a><a name="_bclPageBorder21"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:16.9pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Shares and not to any other Series
of VRTP Shares. Except as otherwise provided with respect to any additional
Series of VRTP Shares, the terms and conditions of this Amendment apply to each
Series of VRTP</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.3pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series L-2: A series of up to 800
preferred shares, par value $0.01 per share, liquidation preference $100,000
per share, is hereby authorized and designated as the &#8220;Series L-2 Variable Rate
Term Preferred Shares&#8221; and also referred to herein as the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series L-2 VRTP
Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">.&#8221; Shares of Series L-2 VRTP Shares shall be issued on one or more
dates determined by the Board of Trustees of the Trust or pursuant to their
delegated authority and have such preferences, voting powers, limitations as to
dividends, qualifications and terms and conditions of issuance, cancellation
and redemption and such other terms, in addition to those required by applicable
law or as set forth in the Declaration of Trust, as set forth in this
Amendment, including Appendix F hereto. The Series L-2 VRTP Shares shall
constitute a separate series of preferred shares of the Trust and each share of
Series L-2 VRTP Shares shall be identical. Any reference to a &#8220;Series of VRTP
Shares&#8221; herein shall be deemed to include a reference to the Series L-2 VRTP
Shares and any reference to the Series L-2 VRTP Shares or other terms
designated above specifically with respect to the Series L-2 VRTP Shares shall
be deemed to apply only to such Series of VRTP Shares and not to any other
Series of VRTP Shares.&#160; Except as otherwise provided with respect to any
additional Series of VRTP Shares, the terms and conditions of this Amendment
apply to each Series of VRTP</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:15.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The number of VRTP Shares which the
Board of Trustees has initially authorized for issuance is up to eight-hundred
(800) and the aggregate number of VRTP Shares outstanding at any time shall not
exceed eight-hundred (800).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<h1 align=center style="margin-bottom:.0001pt;margin-left:124.95pt;margin-right:124.95pt;margin-top:12.0pt;page-break-after:avoid;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:11.0pt;">DEFINITIONS</font></b></h1>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.35pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.85pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Unless the context or use indicates
another or different meaning or intent and except with respect to any Series as
specifically provided in the Appendix applicable to such Series, each of the
following terms when used in this Amendment shall have the meaning ascribed to
it below, whether such term is used in the singular or plural and regardless of
tense:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">1940
Act</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means the Investment Company Act of 1940, as amended, or any successor</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">statute.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">1940
Act Asset Coverage</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means &#8220;asset coverage,&#8221; as defined in Section 18(h) of
the</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:7.75pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">1940
Act, of at least 200% with respect to all outstanding senior securities of the
Trust which are shares of stock for purposes of the 1940 Act, including all
outstanding VRTP Shares (or such other asset coverage as may in the future be
specified in or under the 1940 Act or by rule, regulation or order of the SEC
as the minimum asset coverage for senior securities which are shares of stock
of a closed-end investment company as a condition of declaring dividends on its
common stock).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:19.8pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Adviser</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means Eaton Vance
Management, a direct subsidiary of Eaton Vance Corp., together with its
permitted successors and assigns.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Affected
Person</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; shall have the meaning set forth in Appendix E.</font></p>









<a name="_bclFooter21"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">3</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_22"></a><a name="_bclPageBorder22"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:19.1pt;margin-top:3.8pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Agent</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means Citibank, as agent for certain of the Designated Owners pursuant to the
Initial Purchase Agreement, and its successors.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:10.75pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Agent Member</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means a
Person with an account at the Securities Depository that holds one or more VRTP
Shares through the Securities Depository, directly or indirectly, for a
Designated Owner and that will be authorized and instructed, directly or
indirectly, by a Designated Owner to disclose information to the Redemption and
Paying Agent with respect to such Designated Owner.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:5.1pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Amendment</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means this
Amendment No. X to the By-Laws, as it may be amended from time to time in
accordance with its terms.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:46.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Appendix</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means each Appendix attached
hereto from time to time relating to a particular Series of VRTP Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.85pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Applicable Spread</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means,
with respect to any Dividend Period for any Series of VRTP Shares, the
percentage per annum set forth in the table directly below opposite the lowest
applicable credit rating assigned to such Series by any Rating Agency on the
Rate Determination Date for such Dividend Period.</font></p>

<p style="margin:0in;margin-bottom:.05pt;margin-left:0in;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border:none;border-collapse:collapse;margin-left:17.85pt;width:460.900024pt;">
 <tr style="height:13.75pt;">
  <td colspan=3 valign=top width=100% style="border:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:175.45pt;margin-right:175.2pt;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">Long-Term Ratings*</font></b></p>
  </td>
 </tr>
<tr style="height:13.75pt;">
  <td valign=top width=35% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.35pt;"><b><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">Moody&#8217;s</font></b></p>
  </td>
 <td valign=top width=30% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.35pt;"><b><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">S&amp;P</font></b></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.4pt;"><b><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">Applicable Spread (5 year)**</font></b></p>
  </td>
 </tr>
<tr style="height:13.75pt;">
  <td valign=top width=35% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.35pt;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">Aaa to Aa3</font></p>
  </td>
 <td valign=top width=30% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.35pt;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">AAA to AA-</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.4pt;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">1.75%</font></p>
  </td>
 </tr>
<tr style="height:13.85pt;">
  <td valign=top width=35% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:13.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.35pt;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.9pt;">A1</font></p>
  </td>
 <td valign=top width=30% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.35pt;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.9pt;">A+</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.4pt;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.9pt;">2.00%</font></p>
  </td>
 </tr>
<tr style="height:13.75pt;">
  <td valign=top width=35% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.35pt;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">A2</font></p>
  </td>
 <td valign=top width=30% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.35pt;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">A</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.4pt;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">2.29%</font></p>
  </td>
 </tr>
<tr style="height:13.75pt;">
  <td valign=top width=35% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.35pt;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">A3</font></p>
  </td>
 <td valign=top width=30% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.35pt;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">A-</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.4pt;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">2.56%</font></p>
  </td>
 </tr>
<tr style="height:13.75pt;">
  <td valign=top width=35% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.35pt;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">Baa1 to Baa3</font></p>
  </td>
 <td valign=top width=30% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.35pt;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">BBB+ to BBB-</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.4pt;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">3.10%</font></p>
  </td>
 </tr>
<tr style="height:13.75pt;">
  <td valign=top width=35% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.35pt;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">Below Investment Grade</font></p>
  </td>
 <td valign=top width=30% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.35pt;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">Below Investment Grade</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.4pt;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">5.80%</font></p>
  </td>
 </tr>
<tr style="height:69.1pt;">
  <td colspan=3 valign=top width=100% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:69.1pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.35pt;margin-right:5.05pt;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:11.0pt;">*And/or the equivalent long-term rating of any Other Rating Agency then
  rating the relevant Series of VRTP Shares, in all cases utilizing the lowest
  of the ratings of the Rating Agency or Rating Agencies then rating such
  Series.</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.35pt;margin-right:5.2pt;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:11.0pt;line-height:13.8pt;">**On any day on which an Increased Rate Event is
  continuing, the Dividend Rate shall equal the Increased Rate.</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:0in;margin-top:4.5pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Approved Pricing Service</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means any of the following pricing services: Bloomberg, Bridge Information
Services, Data Resources Inc., Interactive Data Services, International
Securities Market Association, Merrill Lynch Securities Pricing Service, Muller
Data Corp., Thomson Reuters Pricing Service, Telerate, Markit Partners or
Pricing Direct.</font></p>









<a name="_bclFooter22"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">4</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_23"></a><a name="_bclPageBorder23"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:21.8pt;margin-top:3.8pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Asset
Coverage</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means &#8220;asset coverage,&#8221; as defined for purposes of Section 18(h)
of the 1940 Act as in effect on the date hereof, with respect to all
outstanding senior securities of the Trust which are shares of stock for
purposes of the 1940 Act, including all Outstanding VRTP Shares, determined on
the basis of values calculated as of a time within 48 hours (only including
Business Days) next preceding the time of such determination.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:18.1pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Asset Coverage Cure Date</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means, with respect to the failure by the Trust to maintain Asset Coverage of
at least 225% as of the close of business on a Business Day (as required by </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section
2.4(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">), the close of business on the date that is five (5) Business Days
following such Business</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Day.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:14.3pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Auction Preferred Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means any series of auction rate preferred shares issued by the Trust pursuant
to Section 5.1 of Article VI of the Declaration of Trust and Article VII of the
By-Laws (prior to giving effect to this Amendment), and for which the per annum
rate of cash dividends payable to holders of such shares are determined
periodically pursuant to the auction procedures set forth in paragraph 10 of
Article VII of the By-Laws (prior to giving effect to this Amendment).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Bank
Rate</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; shall have the meaning set forth in Appendix E.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:15.4pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Below Investment Grade</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means, with respect to any Series of VRTP Shares and as of any date, the
following ratings with respect to each Rating Agency (to the extent it is a
Rating Agency on such date):</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:42.0pt;margin-right:5.85pt;margin-top:0in;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(i)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">lower than &#8220;BBB-&#8221; in the case of Fitch and lower than &#8220;Baa3&#8221;, in
the case of Moody&#8217;s;</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">and</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:42.0pt;margin-right:5.8pt;margin-top:0in;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(ii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">lower than the long-term rating equivalent to the credit ratings
set forth in clause (i), in the case of any Other Rating</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Agency.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:30.65pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Board of Trustees</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means
the Board of Trustees of the Trust or any duly authorized committee thereof as
permitted by applicable law.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:9.0pt;margin-top:.3pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">Bond Asset</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8221; means any asset
that is a direct interest in a corporate bond obligation. &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">Business Day</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8221;
means any day on which (i) banks are not authorized or required to close</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:31.9pt;margin-top:.25pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">in
New York, New York and the NYSE is not authorized or required to close and (ii)
if this definition of &#8220;Business Day&#8221; is utilized in connection with the
Eurodollar Rate, dealings are carried out in the London interbank market.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:72.45pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">By-Laws</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221; means the By-Laws
of the Trust, as amended from time to time. &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">CAFCO</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221; means CAFCO, LLC and
its successors.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:171.0pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">CHARTA</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221; means CHARTA, LLC
and its successors. &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">CIESCO</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221; means CIESCO, LLC and its successors.</font></p>









<a name="_bclFooter23"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">5</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_24"></a><a name="_bclPageBorder24"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Citibank</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means Citibank,
N.A. and its successors.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Code</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means the Internal Revenue Code of 1986, as amended.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:15.1pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Common Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means the
common shares of the Trust that do not have priority over any other class or
series of shares as to distributions of assets or payments of dividends.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:31.35pt;margin-top:.3pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">Compliance Date</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8221; shall have
the meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">Section 2.10(b)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">. &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">Conditional Acceptance</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8221;
shall have the meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">Section 2.5(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">. &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">Conduit
Purchasers</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8221; means any or each of CHARTA, CAFCO, CIESCO and</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-1.35pt;line-height:25.5pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">CRC,</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:17.15pt;margin-top:.6pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">together
with their permitted successors and assigns that constitute special purpose
entities that issue short-term commercial paper notes or other debt securities
to fund or maintain their investments, including in the VRTP Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">CRC</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means CRC Funding, LLC and its successors.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:13.05pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Credit Facility</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means the
Revolving Credit and Security Agreement, dated as of January 11, 2012, among
the Trust, CHARTA, CAFCO, CIESCO and CRC, as conduit lenders, and the other
secondary lenders party thereto, and Citibank, as agent, as amended, modified
or supplemented from time to time.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:12.15pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Custodian</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means a bank, as
defined in Section 2(a)(5) of the 1940 Act, that has the qualifications
prescribed in paragraph 1 of Section 26(a) of the 1940 Act, or such other
entity as shall be providing custodian services to the Trust as permitted by
the 1940 Act or any rule, regulation, or order thereunder, and shall include,
as appropriate, any similarly qualified sub- custodian duly appointed by the
Custodian.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:11.75pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Custodian Agreement</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means,
with respect to any Series, the Custodian Agreement, by and between the
Custodian and the Trust with respect to such Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:68.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Declaration of Trust</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; shall
have the meaning set forth in the Recitals of this Amendment.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.35pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Deposit Securities</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means,
as of any date, any United States dollar-denominated security or other
investment of a type described below that either (i) is a demand obligation
payable to the holder thereof on any Business Day or (ii) has a maturity date,
mandatory redemption date or mandatory payment date, on its face or at the
option of the holder, preceding the relevant Dividend Payment Date, Redemption
Date or other payment date in respect of which such security or other
investment has been deposited or set aside as a Deposit</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.65pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Security:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-36.05pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(1)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">cash or any cash</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">equivalent;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-36.05pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(2)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">any U.S. Government</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Obligation;</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">6</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_25"></a><a name="_bclPageBorder25"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:24.3pt;margin-top:3.8pt;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(3)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">any investment in any money market fund registered under the 1940
Act that qualifies under Rule 2a-7 under the 1940 Act, or similar investment
vehicle described in Rule 12d1-1(b)(2) under the 1940 Act, that invests
principally in U.S. Government Obligations;</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-2.05pt;">
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">or</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:10.65pt;margin-top:.05pt;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(4)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">any letter of credit from a bank or other financial institution
that has a credit rating from at least one NRSRO that is the highest applicable
rating generally ascribed by such NRSRO to bank deposits or short-term debt of
banks or other financial institutions as of the</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-1.0pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">date of this Amendment (or such rating&#8217;s future</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">equivalent).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:21.15pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Derivative Contract</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means
any financial futures contract, option, forward contract, warrant, swap,
swaption, collar, floor, cap and other agreement, instrument and derivative and
other transactions of a similar nature (whether currency linked, index linked,
insurance risk linked, credit risk linked or otherwise).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:19.8pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Derivative Termination Value</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means, in respect of any one or more Derivative Contracts, after taking into
account the effect of any legally enforceable netting agreement relating to
such Derivative Contracts, (a) for any date on or after the date such
Derivative Contracts have been closed out and termination value(s) determined
in accordance therewith, such termination value(s) and (b) for any date prior
to the date referenced in clause (a), the amount(s) determined as the
mark-to-market value(s) for such Derivative Contracts, as determined based upon
one or more mid-market or other readily available quotations provided by any
recognized dealer in such Derivative Contracts (which may include Citibank or
any affiliate thereof).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.5pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Designated Owner</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means a
Person in whose name VRTP Shares are recorded as beneficial owner of such VRTP
Shares by the Securities Depository, an Agent Member or other securities
intermediary on the records of such Securities Depository, Agent Member or
securities intermediary, as the case may be.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Dividend
Failure</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; shall have the meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.2(g)(A)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:9.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Dividend Payment Date</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means, with respect to any Series, the Dividend Payment Date for such Series in
the Appendix hereto relating to such Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:38.9pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Dividend Payment Failure Event</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means a Dividend Failure that has not ended as contemplated by </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section
2.2(g)(ii)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> on or prior to the third (3<sup>rd</sup>) Business Day following
the related Dividend Payment Date.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:7.4pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Dividend Period</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means,
with respect to any Series, the Dividend Period for such Series set forth in
the Appendix hereto relating to such Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.5pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Dividend Rate</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means, with
respect to any Series of VRTP Shares Outstanding on any day during a Dividend
Period, the Index Rate in effect for such Series on such day plus the
Applicable Spread for the related Dividend Period; </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">provided</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">, </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">however</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">,
that with respect to any day on which the Increased Rate applies, the Dividend
Rate for such Series shall be the Increased Rate for such day; and provided
further that the Dividend Rate for any day shall in no event exceed the Maximum
Rate.</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">7</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_26"></a><a name="_bclPageBorder26"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Effective Leverage Ratio</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
shall have the meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.4(d)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:46.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Effective Leverage Ratio Cure
Date</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; shall have the meaning set forth in Section </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">2.5(b)(ii)(A)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:23.85pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Electronic Means</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means
email transmission, facsimile transmission or similar electronic transmission
(but excluding online communications systems covered by a separate agreement) acceptable
to the sending party and the receiving party, in any case if operative as
between such parties.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Exchange
Act</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means the Securities Exchange Act of 1934, as amended.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:42.4pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Fitch</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means Fitch Ratings,
a part of the Fitch Group, which is a majority owned subsidiary of Fimalac,
S.A., and any successor or successors thereto.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.05pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Force Majeure Event</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means
a force majeure event beyond the reasonable control of the Fund including,
without limitation, earthquakes, flood, terrorism, wars and other military disturbances,
sabotage, epidemics, riots, interruptions, loss or malfunctions of third-party
utilities or communication services, acts of civil or military authority and
governmental action.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:15.4pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Foreign Asset</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means any
asset issued, guaranteed or owing by any Obligor organized under the laws of
any OECD Country (other than the United States of America) and which is
denominated and payable in United States dollars, Canadian dollars, Euros,
Sterling, Swiss Francs or Australian dollars.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:28.75pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Holder</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means, with respect
to the VRTP Shares of any Series or any other security issued by the Trust, the
Person in whose name such security is registered in the registration books of
the Trust.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:16.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Increased Rate</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means, with
respect to any Series and any day of any Dividend Period to which the Increased
Rate applies, the Index Rate for such day plus an Applicable Spread of 6.25%.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:38.5pt;margin-top:4.5pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Increased Rate Event</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means
any of the events under </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.2(g)(i)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> or </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(iii)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> that causes
the Dividend Rate to be adjusted to the Increased Rate.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:20.15pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Index Rate</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means, with
respect to any Series, the rate specified as the Index Rate for such Series in
the Appendix hereto relating to such Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.15pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Industry Class</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means any
industry class set forth on Schedule I hereto, as the same may be amended,
restated, supplemented or otherwise modified from time to time in accordance
with the prior written consent of the Majority Holders.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:46.45pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Initial Purchase Agreement</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
shall have the meaning set forth in the definition of Purchase Agreement.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:13.05pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Insolvency Event</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means the
Trust, the Adviser or Eaton Vance Corp. shall generally not pay its debts as
such debts become due, or shall admit in writing its inability to pay its debts</font></p>









<a name="_bclFooter26"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">8</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_27"></a><a name="_bclPageBorder27"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.55pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">generally, or shall make a general
assignment for the benefit of creditors; or any proceeding shall be instituted
by or against the Trust, the Adviser or Eaton Vance Corp. seeking to adjudicate
it a bankrupt or insolvent, or seeking liquidation, winding up, reorganization,
arrangement, adjustment, protection, relief, or composition of it or its debts
under any law relating to bankruptcy, insolvency or reorganization or relief of
debtors, or seeking the entry of an order for relief or the appointment of a
receiver, trustee, custodian or other similar official for it or for any
substantial part of its property and, in the case of any such proceeding
instituted against it (but not instituted by it), either such proceeding shall
remain undismissed or unstayed for a period of forty (40) days, or any of the
actions sought in such proceeding (including an order for relief against, or
the appointment of a receiver, trustee, custodian or other similar official
for, it or for any substantial part of its property) shall occur; or the Trust,
the Adviser, Eaton Vance Corp. or the Custodian shall take any action to
authorize any of the actions set forth above in this subsection.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:11.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Investment Management Agreement</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means the Investment Advisory and Administration Agreement, dated as of May 21,
2004, between the Trust and the Adviser, as the same may be amended,
supplemented, waived or modified.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:15.15pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Investment Policies and
Restrictions</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means the policies of the Trust with respect to investments,
distributions, investment restrictions, tender offers, repurchases and leverage
as of the date hereof (as set forth in the Offering Memorandum) and as such
policies and restrictions may be amended, revised or supplemented from time to
time by the Board of Trustees of the Trust (as reflected in shareholder reports
distributed by the Trust).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:7.95pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Issuance Date</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means, with
respect to any Series of VRTP Shares, the Issuance Date for the Outstanding
VRTP Shares of such Series as specified in the Appendix hereto relating to such
Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:7.1pt;margin-top:4.5pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Legally Available Funds</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means, as of any determination date, the aggregate gross asset value of the
Trust as of such date, minus the sum as of such date of (i) the liabilities of
the Trust and (ii) the aggregate par value of the shares issued by the Trust
and outstanding.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.0pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Liquidation Fee</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means,
with respect to the Series L VRTP Shares, the compensation, if any, payable by
the Trust to any Affected Person following an optional redemption of any VRTP Shares
of such Series as specified in Appendix E or Appendix F, as applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:16.5pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Liquidation Preference</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means, with respect to any Series, the amount specified as the liquidation
preference per share for that Series in the Appendix hereto relating to such
Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.65pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Liquidity Account Initial Date</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means, with respect to any Series, the date designated as the Liquidity Account
Initial Date in the Appendix hereto relating to such Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.45pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Liquidity Account Investment</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means (i) any Deposit Security, (ii) any Loan Asset owned by the Trust that has
a loan facility credit rating of &#8220;B&#8221; or better from S&amp;P or &#8220;B2&#8221; or better
from Moody&#8217;s and is not assigned a loan facility credit rating lower than &#8220;B&#8221;
from S&amp;P or &#8220;B2&#8221; from Moody&#8217;s or (iii) any Bond Asset owned by the Trust
that has a long-term credit rating of &#8220;B&#8221; or better from S&amp;P or &#8220;B2&#8221; or
better from Moody&#8217;s and is not assigned a long-term credit rating lower than
&#8220;B&#8221; from S&amp;P or &#8220;B2&#8221; from Moody&#8217;s.</font></p>









<a name="_bclFooter27"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">9</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_28"></a><a name="_bclPageBorder28"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Liquidity Requirement</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
shall have the meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.11(b)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:5.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Loan Asset</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means a direct
or participation or sub-participation interest in or assignment or novation of
a loan or other extension of credit.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:8.1pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Loan Documents</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means, with
respect to any Loan Asset, each loan agreement, promissory note, collateral
security agreement, participation certificate, guarantee and any other
agreement or document evidencing, securing, governing or executed in connection
with such Loan Asset including, without limitation, the agreements and
instruments in respect of which the Trust acquired such Loan Asset.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:11.1pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Majority Holders</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means, at
any time, the Holder(s) of more than 50% of the aggregate Liquidation
Preference of the Outstanding VRTP Shares at such time.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:11.15pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Mandatory Redemption Event</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means any of the events under </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(b)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> or </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(c)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> that requires
the Trust to redeem any VRTP Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:11.5pt;margin-top:.3pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">Mandatory Redemption Price</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8221;
shall have the meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">Section 2.5(b)(i)(A)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">. &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">Market
Value</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8221; means, as of any day of determination (a) in respect of cash, the
amount</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:11.75pt;margin-top:.3pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">of
such cash, (b) in respect of any Loan Asset, the lower of (i) the value of such
Loan Asset provided by Thomson Reuters Pricing Service or another Approved
Pricing Service, and (ii) the Value of such Loan Asset determined by the Trust
based upon the Matrix Price of such Loan Asset or such other Value as
determined by the Trust in a manner which is in accordance with the Investment
Policies and Restrictions of the Trust and in accordance with applicable law,
including without limitation the rules, regulations and interpretations of the
SEC under the 1940 Act, and (c) in respect of any other asset, the lower of (i)
the value of such asset provided by an Approved Pricing Service, and (ii) the
Value of such asset computed in the manner as such Value is required to be
computed by the Trust in accordance with the Investment Policies and
Restrictions of the Trust and in accordance with applicable law, including
without limitation the rules, regulations and interpretations of the SEC under
the 1940 Act; provided, that the Market Value of any asset shall be net of the
Trust&#8217;s liabilities relating thereto, including without limitation all of the
Trust&#8217;s obligations to pay any unpaid portion of the purchase price therefor; </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">provided</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">,
</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">further</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">, that the Market Value of any Liquidity Account Investment or
Deposit Security shall be zero if the Value of such asset is not determined as
expressly set forth above.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:11.15pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Matrix Price</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means, with
respect to any Loan Asset, the matrix price derived from an Approved Pricing
Service in a manner approved by the Board of Trustees of the Trust and in
accordance with the Investment Policies and Restrictions of the Trust and in
accordance with applicable law, including without limitation the rules,
regulations and interpretations of the SEC under the 1940 Act.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Maximum
Rate</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means 15.00% per annum.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:36.4pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Moody&#8217;s</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means Moody&#8217;s
Investors Service, Inc. and any successor or successors thereto.</font></p>









<a name="_bclFooter28"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">10</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_29"></a><a name="_bclPageBorder29"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:11.15pt;margin-top:3.8pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">NAV</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means, with respect to the Trust, the net asset value of the Trust computed in
the manner such net asset value is required to be computed in accordance with
the 1940 Act and as described in its Investment Policies and Restrictions.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:37.75pt;margin-top:.3pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">Notice of Redemption</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8221; shall
have the meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">Section 2.5(e)(i)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">. &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">NRSRO</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8221; means
(a) each of Fitch, Moody&#8217;s and S&amp;P so long as such Person is a</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.45pt;margin-top:.35pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">nationally
recognized statistical rating organization within the meaning of Section
3(a)(62) of the Exchange Act and (b) any other nationally recognized
statistical rating organization within the meaning of Section 3(a)(62) of the
Exchange Act that is not an &#8220;affiliated person&#8221; (as defined in Section 2(a)(3)
of the 1940 Act) of the Trust.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:29.45pt;margin-top:.3pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">NYSE</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8221; means NYSE Euronext,
Inc., a Delaware corporation, and its successors. &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">Obligor</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8221; means, (i)
with respect to any Loan Asset, the Person or Persons primarily</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:7.75pt;margin-top:.3pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">obligated
under the related Loan Documents to repay the loan or extension of credit which
is the subject of the Loan Asset and (ii) with respect to any other asset, the
Person or Persons primarily obligated to make payments under the transaction
documents and other instruments evidencing the related asset.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:23.15pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">OECD Country</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means any
country which is a member of the Organization for Economic Cooperation and
Development and which has a sovereign credit rating for &#8220;foreign currency&#8221; of
at least &#8220;AA-&#8220; and &#8220;Aa3&#8221; from S&amp;P and Moody's, respectively.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Offering Memorandum</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means
the Offering Memorandum of the Issuer relating to the offering and sale of the
VRTP Shares dated December 18, 2012, as amended, revised or supplemented from
time to time.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:40.25pt;margin-top:.3pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">Optional Redemption Date</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8221;
shall have the meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">Section 2.5(d)(i)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">. &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">Optional
Redemption Price</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8221; shall have the meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">Section 2.5(d)(i)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">.
&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">Other Rating Agency</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:25.5pt;">&#8221; means, at any time, each Rating Agency, if any,
other than</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:31.15pt;margin-top:1.55pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Fitch
or Moody&#8217;s then providing a rating for the VRTP Shares pursuant to the request
of the Trust.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:33.1pt;margin-top:4.5pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Outstanding</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means, as of
any date with respect to VRTP Shares of any Series, the number of VRTP Shares
of such Series theretofore issued by the Trust except (without duplication):</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:42.0pt;margin-right:5.75pt;margin-top:4.5pt;text-align:justify;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.35pt;">(a)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-1.35pt;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">any VRTP
Shares of such Series theretofore cancelled (including deemed cancelled
pursuant to the provisions of any Appendix hereto) or redeemed or delivered to
the Redemption and Paying Agent for cancellation or redemption in accordance
with the terms</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">hereof;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:42.0pt;margin-right:5.9pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.35pt;">(b)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-1.35pt;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">any VRTP
Shares of such Series as to which the Trust shall have given a Notice</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:.35pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">of</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:.35pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Redemption</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:.35pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">and</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:.35pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">irrevocably</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:.35pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">deposited</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:.35pt;">
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">with</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:.4pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">the</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:.35pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Redemption</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:.35pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">and</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:.35pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Paying</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:.35pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Agent</font></p>









<a name="_bclFooter29"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">11</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_30"></a><a name="_bclPageBorder30"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Deposit Securities with an
aggregate Market Value sufficient to redeem such shares in accordance with </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section
2.5</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> hereof;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:42.0pt;margin-right:5.9pt;margin-top:.05pt;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.35pt;">(c)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-1.35pt;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">any VRTP Shares of such Series as to which the Trust shall be the
Holder or the Designated Owner;</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:2.95pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">and</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:42.0pt;margin-right:5.85pt;margin-top:.05pt;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-1.35pt;">(d)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-1.35pt;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">any VRTP Shares of such Series represented by any security
certificate in lieu of which any new security certificate has been executed and
delivered by the</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Trust.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.15pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Overconcentration Amount</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means, as of any date of determination of the Effective Leverage Ratio for the
Trust, an amount equal to the sum of: (i) the Market Value of the Trust&#8217;s total
assets that are obligations of any single Obligor (together with all affiliates
of such Obligor) in excess of 5% of the Market Value of the Trust&#8217;s total
assets; (ii) the Market Value of the Trust&#8217;s total assets constituting
obligations in any single Industry Class in excess of 25% of the Market Value
of the Trust&#8217;s total assets; (iii) the Market Value of the Trust&#8217;s total assets
constituting Foreign Assets in excess of 20% of the Market Value of the Trust&#8217;s
total assets; (iv) the Market Value of the Trust&#8217;s total assets constituting
Foreign Assets which relate to Obligors from any single OECD Country (other
than the United States of America) in excess of 10% of the Market Value of the
Trust&#8217;s total assets; (v) the Market Value of the Trust&#8217;s total assets that are
obligations of Obligors organized under the laws of any country that is not an
OECD Country in excess of 5% of the Market Value of the Trust&#8217;s total assets; and
(vi) the Market Value of the Trust&#8217;s total assets that are Unrated Obligations
in excess of 20% of the Market Value of the Trust&#8217;s total</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">assets.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:28.4pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Person</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means and includes
natural persons, corporations, partnerships, limited partnerships, statutory trusts
and foreign statutory trusts, trusts, limited liability companies,
associations, joint ventures, estates, and any other individual or entity,
whether or not a legal entity, in its own or any representative capacity, and
governments and agencies and political subdivisions thereof, in each case
whether domestic or foreign.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:11.2pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Preferred Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means
shares issued by the Trust, including the VRTP Shares of each Series, that have
priority over the Common Shares or any other class of shares as to distribution
of assets or payments of dividends.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Pro
Rata Allocation</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; has the meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(b)(i)(A)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Purchase Agreement</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means
(i) with respect to the Specified Series, the VRTP Purchase Agreement, dated as
of December 18, 2012, among the Trust, CHARTA, CAFCO, CIESCO, CRC Funding and
Citibank, as purchasers, and Citibank, in its capacity as agent for the
purchasers (the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Initial Purchase Agreement</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;) and (ii) with respect to
any subsequent Series of VRTP Shares, the purchase agreement or other similar
agreement for the VRTP Shares of such Series (if any) specified in the Appendix
hereto relating to such Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:18.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Rate Determination Date</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means, with respect to any Dividend Period, the date that is two (2) Business
Days before the first day of such Dividend Period.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Rating
Agencies</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means, as of any date and in respect of a Series of VRTP Shares,</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(i)
each of Fitch and Moody&#8217;s, and (ii) any other NRSRO designated as a Rating
Agency on such</font></p>









<a name="_bclFooter30"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">12</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_31"></a><a name="_bclPageBorder31"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.25pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">date in accordance with </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section
2.7</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">, in each case above, only if it maintains a current credit rating for
the VRTP Shares of such Series on such date and the Board of Trustees has not
terminated its designation as a Rating Agency in accordance with </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.7</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">.
Fitch and Moody&#8217;s have initially been designated as the Rating Agencies for
purposes of the VRTP Shares. In the event that at any time any Rating Agency
(i) ceases to be a Rating Agency for purposes of any Series of VRTP Shares and
such Rating Agency has been replaced by another Rating Agency in accordance
with </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.7</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">, any references to any credit rating of such replaced
Rating Agency in this Amendment or any Appendix shall be deleted for purposes
hereof as provided below and shall be deemed instead to be references to the
equivalent credit rating of the Rating Agency that has replaced such Rating
Agency or (ii) designates a new rating definition for any credit rating of such
Rating Agency with a corresponding replacement rating definition for such
credit rating of such Rating Agency, any references to such replaced rating
definition of such Rating Agency contained in this Amendment or any Appendix
shall instead be deemed to be references to such corresponding replacement
rating definition. In the event that at any time the designation of any NRSRO
as a Rating Agency for purposes of any Series of VRTP Shares is terminated in
accordance with </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.7</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">, any credit rating of such terminated Rating
Agency, to the extent it would have been taken into account in any of the
provisions of this Amendment or the Appendix hereto relating to such Series,
shall be disregarded, and only the credit ratings of the then-designated Rating
Agencies for such Series shall thereafter be taken into account for purposes of
this Amendment and such Appendix, </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">provided</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> that, for purposes of
determining the Applicable Spread applicable to a Dividend Period, any
designation of a Rating Agency after the Rate Determination Date for such
Dividend Period will take effect on or as of the next succeeding Rate Determination</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Date.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:5.75pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Rating Agency Guidelines</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means the guidelines of any Rating Agency, compliance with which is required to
cause such Rating Agency to continue to issue a rating with respect to a Series
of VRTP Shares for so long as such Series is Outstanding.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:8.4pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Redemption and Paying Agent</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means, with respect to any Series, Deutsche Bank Trust Company Americas and its
successors or any other redemption and paying agent appointed by the Trust with
respect to such</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:10.75pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Redemption and Paying Agent
Agreement</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means, with respect to any Series, the Redemption and Paying
Agent Agreement dated as of December 18, 2012 by and among the Redemption and
Paying Agent and the Trust, as the same may be amended, restated or modified
from time to time, or any similar agreement between the Trust and any other
redemption and paying agent appointed by the</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.25pt;">
</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Trust.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:61.1pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Redemption Date</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221; shall have
the meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Section 2.5(e)(i)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">. &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Redemption Failure</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221;
shall have the meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Section 2.2(g)(i)(B)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:11.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Redemption Price</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; shall
mean the Term Redemption Price, the Mandatory Redemption Price or the Optional
Redemption Price, as applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:31.4pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Registration Rights Failure</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means any (i) failure by the Trust to file a Registration Statement with the
SEC relating to such of the Registrable Securities (as defined in the</font></p>









<a name="_bclFooter31"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">13</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_32"></a><a name="_bclPageBorder32"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.15pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Registration Rights Agreement, but
excluding any that are properly excluded pursuant to Section 3.3(c) or (d) of
the Registration Rights Agreement) which the Trust has been properly requested
to register under Section 3.1 of the Registration Rights Agreement within
thirty (30) calendar days (or, if the thirtieth calendar day shall not be a
Business Day, the next succeeding Business Day) of the later of (a) the date on
which the holders of such Registrable Securities are required to give written
notice to the Trust of their intent to register such Registrable Securities
pursuant to Section 3.1 of the Registration Rights Agreement and (b) if
properly exercised by the Trust, the end of any deferral period specified in
accordance with the provisions of Section 3.2 of the Registration Rights
Agreement or (ii) failure by the Trust to reply to any written comments on such
Registration Statement received by the Trust from the staff of the SEC (it
being understood that the reply referenced herein shall not require the Trust
to accept or agree with any comment, in whole or in part) within thirty (30)
calendar days (or, if the thirtieth calendar day shall not be a Business Day,
the next succeeding Business Day) of receipt thereof by the Trust.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:47.7pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">S&amp;P</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means Standard
&amp; Poor&#8217;s Rating Services, a Standard &amp; Poor&#8217;s Financial Services LLC
business, and any successor or successors thereto.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:12.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">SEC</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means the Securities
and Exchange Commission or any other governmental authority of the United
States of America at the time administrating the Securities Act, the 1940 Act
or the Exchange Act.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Securities
Act</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means the Securities Act of 1933, as amended.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:12.4pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Securities Depository</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
shall mean The Depository Trust Company and its successors and assigns or any
other securities depository selected by the Trust that agrees to follow the
procedures required to be followed by such securities depository as set forth
in this Amendment with respect to the VRTP Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:32.8pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Series</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221; and &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Series of
VRTP Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221; shall have the meanings set forth in Article I. &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Series C-1
VRTP Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221; shall have the meaning set forth in Article</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.45pt;line-height:186%;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">I.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:93.5pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Series C-2 VRTP Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221;
shall have the meaning set forth in Article I. &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Series C-3 VRTP Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221;
shall have the meaning set forth in Article I. &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Series C-4 VRTP Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221;
shall have the meaning set forth in Article</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.65pt;line-height:186%;">
</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">I.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:34.95pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series L VRTP Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; all
or any (as the context requires) of the Series L-1 VRTP Shares and the Series
L-2 VRTP Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:87.9pt;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Series L-1 VRTP Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221;
shall have the meaning set forth in Article I. &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Series L-2 VRTP Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221;
shall have the meaning set forth in Article I. &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Settlement Deadline Date</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221;
has the meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Section 2.10(b)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">.</font></p>









<a name="_bclFooter32"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">14</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_33"></a><a name="_bclPageBorder33"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.5pt;margin-top:3.8pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Specified
Holder</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means, as of any date of determination, with respect to the Series
L- 2 VRTP Shares, the Person in whose name such security is registered in the
registration books of the Trust, including but not limited to Barclays Bank
PLC..</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:9.3pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Specified Series</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; all or
any (as the context requires) of the Series C-1 VRTP Shares, the Series C-2
VRTP Shares, the Series C-3 VRTP Shares, the Series C-4 VRTP Shares, the Series
L-1 VRTP Shares and the Series L-2 VRTP Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:98.4pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Tax Event</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221; shall have the
meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Section 2.2(g)(i)(E)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">. &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Term Extension Request</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221;
has the meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Section 2.5(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Term
Redemption Amount</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; shall have the meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.10(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:29.45pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Term Redemption Date</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means, with respect to any Series, the date specified as the Term Redemption
Date in the Appendix hereto relating to such Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:40.1pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Term Redemption Liquidity
Account</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; shall have the meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">2.10(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Term
Redemption Price</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; shall have the meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:14.5pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfer Date</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means, with
respect to any Series, the date defined as the Transfer Date in the Appendix
hereto relating to such Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:75.4pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Trust</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221; shall have the
meaning set forth in the Recitals to this Amendment. &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Trustee</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221; means a
member of the Board of Trustees.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:15.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Unrated Obligation</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; means,
at any time, an asset of the Trust that is not rated by either Moody&#8217;s or
S&amp;P.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:8.75pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">U.S. Government Obligations</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
means direct obligations of the United States or of its agencies or
instrumentalities that are entitled to the full faith and credit of the United
States and that, other than United States Treasury Bills, provide for the
periodic payment of interest and the full payment of principal at maturity or
call for redemption.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Value</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
shall have the meaning assigned to such term in Section 2(a)(41) of the 1940</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Act.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:105.05pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Voting Period</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221; shall have
the meaning set forth in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Section 2.6(b)(i)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">. &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">VRTP</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">&#8221; shall have the
meaning set forth in Article I.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">VRTP
Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221; shall have the meaning set forth in Article I.</font></p>









<a name="_bclFooter33"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">15</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_34"></a><a name="_bclPageBorder34"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">VRTP Shares of a Series</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;
shall have the meaning set forth in Article I.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:7.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">With respect to any Series, any
additional definitions specifically set forth in the Appendix relating to such
Series and any amendments to any definitions specifically set forth in the
Appendix relating to such Series, as such Appendix may be amended from time to
time, shall be incorporated herein and made part hereof by reference thereto,
but only with respect to such Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:7.55pt;margin-top:4.5pt;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.2pt;">1.1</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.2pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Interpretation</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. The headings preceding the text of
Sections included in this Amendment are for convenience only and shall not be
deemed part of this Amendment or be given any effect in interpreting this
Amendment. The use of the masculine, feminine or neuter gender or the singular
or plural form of words herein shall not limit any provision of this Amendment.
The use of the terms &#8220;including&#8221; or &#8220;include&#8221; shall in all cases herein mean
&#8220;including, without limitation&#8221; or &#8220;include, without limitation,&#8221; respectively.
Reference to any Person includes such Person&#8217;s successors and assigns to the
extent such successors and assigns are permitted by the terms of any applicable
agreement, and reference to a Person in a particular capacity excludes such Person
in any other capacity or individually. Reference to any agreement (including
this Amendment), document or instrument means such agreement, document or
instrument as amended or modified and in effect from time to time in accordance
with the terms thereof and, if applicable, the terms hereof. Except as
otherwise expressly set forth herein, reference to any law means such law as
amended, modified, codified, replaced or re-enacted, in whole or in part,
including rules, regulations, enforcement procedures and any interpretations
promulgated thereunder. Underscored references to Sections shall refer to those
portions of this Amendment. The use of the terms &#8220;hereunder,&#8221; &#8220;hereof,&#8221;
&#8220;hereto&#8221; and words of similar import shall refer to this Amendment as a whole (including
the Appendices hereto) and not to any particular Article, Section or clause of
this</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Amendment.</font></p>

<h1 align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:12.0pt;page-break-after:avoid;text-align:center;"><b><font color=gray face="NewsGoth Dm BT,sans-serif" style="font-size:11.0pt;line-height:13.7pt;">TERMS APPLICABLE TO THE VARIABLE RATE TERM PREFERRED
SHARES</font></b></h1>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.95pt;margin-top:0in;text-align:justify;text-indent:3.8pt;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:8.95pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Except
for such changes and amendments hereto with respect to a Series of VRTP Shares
that are specifically contemplated by the Appendix relating to such Series,
each Series of VRTP Shares shall have the following terms:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:8.95pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:8.95pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Number of Shares; Ranking</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:10.9pt;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;">(a)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.1pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">The number of authorized shares constituting any Series of VRTP
Shares shall be as set forth with respect to such Series in the Appendix hereto
relating to such Series. No fractional VRTP Shares shall be issued.The VRTP
Shares of each Series shall rank on a parity with VRTP Shares of each other
Series and with shares of any other series of Preferred Shares as to the
payment of dividends and the distribution of assets upon dissolution,
liquidation or winding up of the affairs of the Trust. The VRTP Shares of each
Series shall have preference with respect to the payment of dividends and as to
distribution of assets upon dissolution, liquidation or winding up of the
affairs of the Trust over the Common Shares as set forth herein.No Holder of
VRTP Shares shall have, solely by reason of being such a Holder, any preemptive
or other right to acquire, purchase or subscribe for any VRTP Shares or Common
Shares or other securities of the Trust which it may hereafter issue or</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">sell.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:78.0pt;margin-right:0in;margin-top:.05pt;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">2.2</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Dividends and Distributions</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">16</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_35"></a><a name="_bclPageBorder35"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.0pt;margin-top:3.8pt;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(a)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">The Holders of VRTP Shares of a Series shall be entitled to
receive, when, as and if declared by, or under authority granted by, the Board
of Trustees, out of then existing Legally Available Funds and in preference to
dividends and other distributions on Common Shares, cumulative cash dividends
and other distributions on each share of such Series at the Dividend Rate as
set forth below, and no more. Dividends and other distributions on each
Outstanding VRTP Share of a Series shall accumulate from such VRTP Share&#8217;s
Issuance Date. The amount of dividends per share payable on VRTP Shares of a
Series on any Dividend Payment Date shall equal the sum of the dividends
accumulated but not yet paid for each day during the related Dividend Period,
provided such dividends have been declared by, or under authority granted by,
the Board of Trustees as described above. The amount of dividends per VRTP
Share of each Series accumulated for each day in a Dividend Period shall be
equal</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">to</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:18.95pt;margin-top:.05pt;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;">(i)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.1pt;">&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">the Dividend Rate for such day </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">multiplied</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> by the
Liquidation Preference </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">divided</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> by (ii) 360 (or, with respect to any
Series L VRTP Share, if the Index Rate for such Dividend Period is based on the
Base Rate, 365 or 366, as applicable for the year in which such day</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">occurs).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:16.2pt;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(b)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Subject to </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.2(a)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, dividends on VRTP Shares of
each Series with respect to any Dividend Period shall be declared to the
Holders of such shares as their names shall appear on the registration books of
the Trust at the close of business on each day in such Dividend Period and
shall be paid as provided in </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.2(f)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">hereof.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:5.95pt;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(c)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No full dividends or other distributions shall be
declared or paid on shares of a Series of VRTP Shares for any Dividend Period
or part thereof unless full cumulative dividends and other distributions due
through the most recent dividend payment dates therefor for all outstanding
Preferred Shares (including shares of other outstanding Series of VRTP Shares)
ranking on a parity with such Series of VRTP Shares have been or contemporaneously
are declared and paid (or have been or contemporaneously are declared and
Deposit Securities (in the case of the VRTP Shares) or sufficient securities or
funds (in accordance with the terms of such other Preferred Shares) for the
payment thereof have been deposited irrevocably with the paying agent for such
Preferred Shares) through the most recent dividend payment dates therefor. If
full cumulative dividends and other distributions due have not been declared
and paid on all such outstanding Preferred Shares of any series, any dividends
and other distributions being declared and paid on VRTP Shares of a Series will
be declared and paid as nearly pro rata as possible in proportion to the
respective amounts of dividends and other distributions accumulated but unpaid
on each such series of Preferred Shares on the respective dividend payment
dates for each such series.&#160; No Holders of VRTP Shares shall be entitled to
receive any dividends and other distributions, whether payable in cash,
property or shares, in excess of full cumulative dividends and other
distributions as provided in this </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.2(c)(i)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> on such VRTP</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-1.0pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Shares.</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:7.25pt;margin-top:0in;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;">(ii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.1pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">so long as any VRTP Shares are Outstanding, the Trust shall not:
(x) declare or pay any dividend or other distribution (other than a dividend or
distribution paid in Common Shares) in respect of the Common Shares or warrants
of the Trust, (y) call for redemption or redeem, purchase or otherwise acquire
for consideration any Common Shares or warrants of the Trust, or (z) pay any proceeds
of the liquidation of the Trust in respect of the Common Shares, unless, in
each case, (A) immediately thereafter, the Trust shall have 1940 Act Asset
Coverage after deducting the amount of such dividend, distribution, payment or
reimbursement or the consideration paid in respect of any such redemption,
purchase, acquisition or liquidation, (B) all cumulative dividends and other
distributions on all VRTP Shares and</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-1.1pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">all</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">17</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_36"></a><a name="_bclPageBorder36"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.15pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">cumulative dividends and other
distributions on all other series of Preferred Shares ranking on a parity with
the VRTP Shares, in each case due on or prior to the date of such declaration,
payment, call for redemption, redemption, purchase or acquisition, as
applicable, shall have been declared and paid (or shall have been declared and
Deposit Securities (in the case of the VRTP Shares) or sufficient securities or
funds (in accordance with the terms of such other Preferred Shares) for the
payment thereof shall have been deposited irrevocably with the paying agent for
such Preferred Shares), (C) the Trust shall have deposited Deposit Securities
pursuant to and in accordance with the requirements of </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(e)(ii)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">
hereof with respect to Outstanding VRTP Shares of any Series to be redeemed
pursuant to </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> or </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(b)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> hereof for which a
Notice of Redemption shall have been given or shall have been required to be
given in accordance with the terms hereof on or prior to the date of such
declaration, payment, call for redemption, redemption, purchase or acquisition,
as applicable, (D) the Trust shall be in compliance with </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.10</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">
and (E) no Increased Rate Event or Mandatory Redemption Event shall have
occurred and be continuing, or would occur as result of thereof.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:7.0pt;margin-top:0in;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;">(iii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.1pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">No full dividends or other distributions shall be declared or
paid</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">on the shares of any class or
series of shares of beneficial interest of the Trust ranking, as to the payment
of dividends, on a parity with the VRTP Shares for any dividend period therefor
or part thereof unless full cumulative dividends and other distributions have
been or contemporaneously are declared and paid on the VRTP Shares (or have
been or contemporaneously are declared and Deposit Securities for the payment
thereof shall have been deposited irrevocably with the Redemption and Paying
Agent for the VRTP Shares) through the most recent Dividend Payment Date and
the Trust has redeemed the full number of VRTP Shares required to be redeemed
by any provision for mandatory redemption pertaining thereto. If full
cumulative dividends and other distributions due have not been declared and
paid on the VRTP Shares through the most recent Dividend Payment Date or upon
the shares of any other class or series of shares of beneficial interest of the
Trust ranking on a parity as to the payment of dividends with the VRTP Shares
through their most recent respective dividend payment dates, any dividends
being declared and paid upon the VRTP Shares and any other such class or series
of shares of beneficial interest ranking on a parity as to the payment of
dividends with the VRTP Shares will be declared and paid as nearly pro rata as
possible in proportion to the respective amounts of dividends and other
distributions accumulated but unpaid on the VRTP Shares and each such other
class or series of shares of beneficial interest on the relevant dividend
payment dates therefor.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:27.85pt;margin-top:4.5pt;text-align:justify;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;">(iv)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.1pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Any dividend payment made on VRTP Shares of a Series shall first
be credited against the dividends and other distributions accumulated with
respect to the earliest Dividend Period for such Series for which dividends and
other distributions have not been paid.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.95pt;margin-top:4.5pt;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(d)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Not later than 11:00 a.m., New York City time, on the Dividend
Payment Date for a Series of VRTP Shares, the Trust shall deposit with the
Redemption and Paying Agent Deposit Securities having an aggregate Market Value
on such date sufficient to pay the dividends and other distributions that are
payable on such Dividend Payment Date in respect of such Series. The Trust may
direct the Redemption and Paying Agent with respect to the investment or
reinvestment of any such Deposit Securities so deposited prior to the Dividend
Payment Date, provided that such investment consists exclusively of Deposit
Securities and provided</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">further</font></p>









<a name="_bclFooter36"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">18</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_37"></a><a name="_bclPageBorder37"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:20.8pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">that the proceeds of any such
investment will be available as same day funds at the opening of business on
such Dividend Payment Date.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.0pt;margin-top:.05pt;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(e)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">All Deposit Securities deposited with the Redemption and Paying
Agent for the payment of dividends payable on a Series of VRTP Shares shall be
held in trust for the payment of such dividends by the Redemption and Paying
Agent for the benefit of the Holders of such Series entitled to the payment of
such dividends pursuant to </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.2(f)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. Any moneys paid to the
Redemption and Paying Agent in accordance with the foregoing but not applied by
the Redemption and Paying Agent to the payment of dividends, including interest
earned on such moneys while so held, will, to the extent permitted by law, be
repaid to the Trust as soon as possible after the date on which such moneys
were to have been so applied, upon request of the Trust.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:12.75pt;margin-top:4.5pt;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(f)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Dividends on VRTP Shares of a Series shall be paid on each
Dividend Payment Date for such Series to the Holders of the VRTP Shares of such
Series as their names appear on the registration books of the Trust at the
close of business on the day immediately preceding such Dividend Payment Date
(or, if such day is not a Business Day, the immediately preceding Business
Day). Dividends in arrears on VRTP Shares of a Series for any past Dividend
Period may be declared and paid at any time out of then existing Legally
Available Funds, without reference to any regular Dividend Payment Date, to the
Holders of the VRTP Shares of such Series as their names appear on the
registration books of the Trust on a date, not exceeding fifteen (15) calendar
days preceding the payment date thereof, as may be fixed by the Board of
Trustees. No interest or sum of money in lieu of interest will be payable in
respect of any dividend payment or payments on VRTP Shares of any Series which
may be in</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">arrears.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:5.85pt;margin-top:.05pt;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(g)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Dividend Rate on a Series of VRTP Shares shall be
adjusted to the Increased Rate for any day on which:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:12.85pt;margin-top:.05pt;text-indent:2.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;">(A)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">the Trust has failed to deposit with the Redemption and Paying
Agent by 11:00 a.m., New York City time, on a Dividend Payment Date for such
Series, Deposit Securities (as a result of complying with </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.2(c)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">
or otherwise) that will provide same-day funds available to the Redemption and
Paying Agent on such Dividend Payment Date sufficient to pay the full amount of
any dividend on such Series payable on such Dividend Payment Date (a &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Dividend
Failure</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#8221;) and such Dividend Failure has not ended as contemplated by </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section
2.2(g)(ii)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> on or prior to the third (3<sup>rd</sup>) Business Day from such
Dividend Payment Date;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:15.95pt;margin-top:4.5pt;text-indent:2.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;">(B)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">the Trust has failed to deposit with the Redemption and Paying
Agent by 11:00 a.m., New York City time, on an applicable Redemption Date for
such Series, Deposit Securities that will provide same-day funds available to
the Redemption and Paying Agent on such Redemption Date sufficient to pay the full
amount of the Redemption Price payable in respect of such Series on such
Redemption Date (a &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Redemption Failure</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#8221;) and such Redemption Failure has
not ended as contemplated by </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.2(g)(ii)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> on or prior to the
Business Day immediately following such Redemption</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Date;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:22.95pt;margin-top:0in;text-indent:2.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;">(C)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(i) any Rating Agency has withdrawn its credit rating </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.45pt;">on </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">such Series of VRTP Shares other than
due to the Rating Agency ceasing to rate</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">closed-end</font></p>









<a name="_bclFooter37"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">19</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_38"></a><a name="_bclPageBorder38"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.2pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">management investment companies
generally or (ii) the Board of Trustees has terminated the designation of a
Rating Agency without complying with the requirements of </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.7</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">
and, in the case of clause (i) above, such withdrawal is continuing (unless the
VRTP Shares of such Series are then rated by at least two (2) Rating Agencies)
and, in the case of clause (ii) above, the VRTP Shares of such Series are not
then rated by at least two Rating Agencies;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:186.0pt;margin-right:0in;margin-top:.05pt;text-indent:-36.05pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;">(D)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">a Registration Rights Failure has occurred and is</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">continuing</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">with
respect to such Series;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:186.0pt;margin-right:0in;margin-top:.05pt;text-indent:-36.05pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;">(E)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">the Trust or the Internal Revenue Service has made a</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">final</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:40.15pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">determination
that for federal tax purposes such Series of VRTP Shares are not equity in a
regulated investment company for federal income tax purposes (a &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Tax Event</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;)
and such determination has not been reversed, revoked or rescinded;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:14.65pt;margin-top:0in;text-indent:2.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;">(F)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">the Trust has failed, on or before the applicable Asset Coverage
Cure Date, to cure a failure to maintain Asset Coverage as required by </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section
2.4(a)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> and such failure to achieve the required Asset Coverage is
continuing, </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">provided</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> that, to the extent the Trust seeks to achieve the
required Asset Coverage through the redemption of VRTP Shares and/or of other
Preferred Shares, compliance with the Asset Coverage requirements of</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> Section
2.4(a)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> for purposes of this clause (F) will not be deemed to be achieved
until the day on which the Trust issued a notice of redemption for such VRTP
Shares or other Preferred Shares, and the Trust has deposited Deposit
Securities (in the case of the VRTP Shares) and/or other funds or securities
(in accordance with the terms of any other Preferred Shares) in trust with the
paying agent for such VRTP Shares or other Preferred Shares, sufficient to pay
in same day funds the full redemption price for such VRTP Shares or other
Preferred Shares (or the portion thereof to be</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;">
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">redeemed);</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.15pt;margin-top:4.5pt;text-indent:2.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;">(G)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">the Trust has failed, on or before the applicable Effective
Leverage Ratio Cure Date, to cure a failure to maintain the Effective Leverage
Ratio as required by </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.4(c)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> and such failure to achieve the
required Effective Leverage Ratio is continuing,</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> provided</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> that, to the
extent the Trust seeks to achieve the required Effective Leverage Ratio through
the redemption of &#8220;senior securities&#8221; (as defined in the 1940 Act), compliance
with the Effective Leverage Ratio requirements of </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.4(c)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> for
purposes of this clause (G) will not be deemed to be achieved until the day on
which the Trust has issued a notice of redemption for such senior securities
and the Trust has delivered sufficient Deposit Securities (in the case of VRTP
Shares) or sufficient securities and/or other funds or securities (in
accordance with the terms of any other senior securities) in trust to the
Redemption and Paying Agent or other applicable paying agent for such senior
securities, sufficient to pay in same day funds the full redemption price for
such VRTP Shares or other senior</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">securities;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:17.5pt;margin-top:.05pt;text-indent:2.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;">(H)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">the Trust has failed to deliver the information required by
Section 6.1(o) of the Initial Purchase Agreement within five (5) Business Days
following notification from the Agent of such failure and such failure is</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">continuing;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:8.7pt;margin-top:0in;text-align:justify;text-indent:2.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;">(I)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">the Trust has failed to comply with Section 6.8, Section 6.9 or
Section 7.15(b) of the Initial Purchase Agreement and such failure is
continuing for more than five (5) Business Days;</font></p>









<a name="_bclFooter38"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">20</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_39"></a><a name="_bclPageBorder39"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.9pt;margin-top:3.8pt;text-indent:2.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;">(J)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">the Trust has failed to declare dividends on the VRTP Shares of a
Series out of then existing Legally Available Funds in accordance with </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section
2.2(b)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> and such failure is continuing; or</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:10.95pt;margin-top:.05pt;text-indent:2.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;">(K)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">the failure of the Trust to redeem in full (or repurchase and
retire) all of the outstanding Auction Preferred Shares on or prior to January
31,</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2013.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:14.25pt;margin-top:.05pt;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;">(ii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.1pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">A Dividend Failure or a Redemption Failure on a Series of VRTP
Shares shall end on the Business Day on which, by 11:00 a.m., New York City
time, Deposit Securities that will provide an aggregate amount of same-day
funds on such date equal to all accumulated but unpaid dividends on the VRTP
Shares of such Series or the entire unpaid Redemption Price of the VRTP Shares
of such Series, respectively, shall have been deposited irrevocably in trust
with the Redemption and Paying</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Agent.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:14.6pt;margin-top:0in;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;">(iii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.1pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">If the NAV determined as of the last Business Day of any Dividend
Period is less than seventy-five per cent (75%) of the NAV determined as of the
last Business Day of the preceding Dividend Period (the &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Triggering NAV</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#8221;),
the Dividend Rate on such Series of VRTP Shares shall be adjusted to the
Increased Rate for each day until the NAV determined as of the last Business
Day of any subsequent Dividend Period is equal to or greater than seventy-five
(75%) of the Triggering</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">NAV.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">2.3</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Liquidation</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Rights</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:9.0pt;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(a)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">In the event of any liquidation, dissolution or winding up of the
affairs of the Trust, whether voluntary or involuntary, the Holders of VRTP
Shares shall be entitled to receive out of the assets of the Trust available
for distribution to shareholders, after satisfying claims against, and obligations
of, the Trust to the extent required by applicable law but before any
distribution or payment shall be made in respect of the Common Shares or any
other class of shares of the Trust ranking junior to the VRTP Shares upon
dissolution, liquidation or winding up, a liquidation distribution equal to the
Liquidation Preference for such VRTP Shares, </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">plus</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> an amount equal to all
dividends thereon (whether or not earned or declared) accumulated but unpaid to
(but excluding) the date of the final liquidation distribution in same-day
funds. After the payment to the Holders of VRTP Shares of the full preferential
amounts provided for in this</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> Section 2.3(a)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, the Holders of VRTP Shares
shall have no right or claim to any of the remaining assets of the Trust.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:6.25pt;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(b)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">If, upon any liquidation, dissolution or winding up of the
affairs of the Trust, whether voluntary or involuntary, the assets of the Trust
available for distribution among the Holders of all Outstanding VRTP Shares and
any other outstanding Preferred Shares ranking on a parity with the VRTP Shares
shall be insufficient to permit the payment in full to such Holders of the
Liquidation Preference of such VRTP Shares plus accumulated and unpaid
dividends and other distributions on such VRTP Shares as provided in </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section
2.3(a)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> above and the amounts due upon liquidation with respect to such
other Preferred Shares, then such available assets shall be distributed among
the Holders of such VRTP Shares and such other Preferred Shares ratably in
proportion to the respective preferential liquidation amounts to which they are
entitled. In connection with any liquidation, dissolution or winding up of the
affairs of the Trust, whether voluntary or involuntary, unless and until the
Liquidation Preference on</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">each</font></p>









<a name="_bclFooter39"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">21</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_40"></a><a name="_bclPageBorder40"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.35pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Outstanding VRTP Share plus
accumulated and unpaid dividends and other distributions on such VRTP Shares as
provided in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.3(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> above have been paid in full to the Holders
thereof, no dividends, distributions or other payments will be made on, and no
redemption, purchase or other acquisition by the Trust will be made by the
Trust in respect of, the Common Shares or any other class of shares of the
Trust ranking junior to the VRTP Shares upon dissolution, liquidation or
winding up.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.3pt;margin-top:4.5pt;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(c)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Neither the sale of all or substantially all of the property or
business of the Trust, nor the merger, consolidation or reorganization of the
Trust into or with any other business or statutory trust, corporation or other
entity, nor the merger, consolidation or reorganization of any other business
or statutory trust, corporation or other entity into or with the Trust, shall
be a dissolution, liquidation or winding up, whether voluntary or involuntary,
for the purpose of this</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> Section 2.3</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">2.4</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Coverage &amp; Leverage</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Tests</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:9.5pt;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(a)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Asset Coverage Requirement</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. For so long as any VRTP Shares
of any Series are Outstanding, the Trust shall have Asset Coverage of at least
225% as of the close of business on each Business Day. If the Trust shall fail
to maintain such Asset Coverage as of any time as of which such compliance is
required to be determined as aforesaid, the provisions of</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> Section 2.5(b)(i)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">
shall apply, which provisions to the extent complied with, along with the
payment of any applicable Increased Rate, shall constitute the sole remedy for
the Trust&#8217;s failure to comply with the provisions of this </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2.4(a)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:6.35pt;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(b)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Calculation of Asset Coverage</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. For purposes of determining
whether the requirements of </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.4(a)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> are satisfied, (i) no VRTP
Shares of any Series or other Preferred Shares shall be deemed to be
Outstanding for purposes of any computation required by </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.4(a)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">
if, prior to or concurrently with such determination, Deposit Securities (in
the case of the VRTP Shares) and/or other funds or securities (in accordance with
the terms of such other Preferred Shares) sufficient to pay in same day funds
the full redemption price for such Series or other Preferred Shares (or the
portion thereof to be redeemed) shall have been deposited in trust with the
paying agent for such Series or other Preferred Shares and the requisite notice
of redemption for such Series or other Preferred Shares (or the portion thereof
to be redeemed) shall have been given, and (ii) the Deposit Securities or such
other sufficient securities or funds that shall have been so deposited with the
applicable paying agent shall not be included as assets of the Trust for
purposes of such</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">computation.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.65pt;margin-top:.05pt;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(c)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Effective Leverage Ratio Requirement</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. For so long as VRTP
Shares of any Series are Outstanding, the Effective Leverage Ratio shall not
exceed 45% (or 46% solely by reason of fluctuations in the Market Value of the
Trust&#8217;s assets) as of the close of business on any Business Day. If the
Effective Leverage Ratio shall exceed the applicable percentage provided in the
preceding sentence as of any time as of which such compliance is required to be
determined as aforesaid, the provisions of </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(b)(ii)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> shall
apply, which provisions to the extent complied with, along with the payment of
any applicable Increased Rate, shall constitute the sole remedy for the Trust&#8217;s
failure to comply with the provisions of this </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2.4(c)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>









<a name="_bclFooter40"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">22</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_41"></a><a name="_bclPageBorder41"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:17.75pt;margin-top:3.8pt;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(d)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Calculation of Effective Leverage Ratio</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. For purposes of
determining whether the requirements of </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.4(c)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> are satisfied,
the &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Effective Leverage Ratio</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#8221; on any date of determination shall mean
the quotient</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">of:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:11.9pt;margin-top:.05pt;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(i)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">The sum of (A) the aggregate liquidation preference of the
Trust&#8217;s &#8220;senior securities&#8221; (as that term is defined in the 1940 Act) that are
stock for purposes of the 1940 Act, plus any accumulated but unpaid dividends
thereon, excluding, without</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">duplication,</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.7pt;margin-top:0in;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(x)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">any such senior securities for which the Trust has issued a
notice of redemption and either has delivered sufficient Deposit Securities (in
the case of VRTP Shares) or sufficient securities or funds (in accordance with
the terms of any other such senior securities) to the Redemption and Paying
Agent or other applicable paying agent for such senior securities or otherwise
has adequate Deposit Securities (in the case of the VRTP Shares) or sufficient
securities or funds (in the case of any other such senior securities) on hand
for the purpose of such redemption</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">and</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:8.9pt;margin-top:0in;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(y)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">any such senior securities that are to be redeemed with net
proceeds from the sale of the VRTP Shares, for which the Trust has delivered
sufficient Deposit Securities (in the case of the VRTP Shares) or sufficient
securities or funds (in accordance with the terms of such other senior
securities) to the Redemption and Paying Agent or other applicable paying agent
for such senior securities or otherwise has adequate Deposit Securities (in the
case of the VRTP Shares) or sufficient securities or funds (in the case of any
other such senior securities) on hand for the purpose of such redemption and
(B) the aggregate principal amount of the Trust&#8217;s &#8220;senior securities
representing indebtedness&#8221; (as that term is defined in the 1940 Act), plus any
accrued but unpaid interest thereon; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">divided</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">by</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:6.45pt;margin-top:0in;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(ii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">An amount equal to (A) the Market Value of the Trust&#8217;s total
assets (including amounts attributable to senior securities, but excluding any
assets consisting of Deposit Securities or securities or funds referred to in
clauses (A)(x) and A(y) of </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.4(d)(i)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> above), less the amount of
the Trust&#8217;s accrued liabilities (which accrued liabilities shall include net
obligations of the Trust under each Derivative Contract in an amount equal to
the Derivative Termination Value thereof payable by the Trust to the related
counterparty) other than liabilities for the aggregate principal amount of the
Trust&#8217;s outstanding &#8220;senior securities representing indebtedness&#8221; (as that term
is defined in the 1940 Act) </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">minus</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> (B) the Overconcentration</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Amount.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:16.55pt;margin-top:0in;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">2.5</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Redemption</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. Each Series of VRTP Shares shall be subject to
redemption by the Trust as provided</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">below:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:7.35pt;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(a)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Term Redemption</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. The Trust shall redeem all of the VRTP
Shares of a Series on the Term Redemption Date for such Series, out of then
existing Legally Available Funds, at a price per share equal to the Liquidation
Preference for such Series plus an amount equal to all unpaid dividends and
other distributions on such VRTP Shares accumulated in respect of such VRTP
Shares through (but excluding) the Term Redemption Date for such Series
(whether or not earned or declared by the Trust, but without interest thereon,
and subject to</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> Section 2.5(e)(vi)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">) (the &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Term Redemption Price</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#8221;);
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">provided</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">however</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, that the Trust shall have the right,
exercisable not more than 365 days nor less than 90 days prior to the Term
Redemption Date of a Specified Series, to request that the Specified Holder
extend the Term Redemption Date for such Specified Series by at least an
additional 364-days (a &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Term Extension Request</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#8221;), which request may be
conditioned upon terms and conditions that are different from the</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">terms</font></p>









<a name="_bclFooter41"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">23</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_42"></a><a name="_bclPageBorder42"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.05pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">and conditions set forth herein.
Each Specified Holder shall, no later than 30 days after receiving a Term
Extension Request, notify the Trust and the Redemption and Paying Agent of its
acceptance or rejection of such request, which acceptance by such Specified
Holder may be conditioned upon terms and conditions which are different from
the terms and conditions set forth herein or the terms and conditions proposed
by the Trust in making an extension request (a &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Conditional Acceptance</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;).
If any Specified Holder fails to notify the Trust and the Redemption and Paying
Agent of its acceptance or rejection of the Trust&#8217;s request for extension
within such 30-day period, such failure to respond shall constitute a rejection
of such request. If any Specified Holder provides a Conditional Acceptance,
then the Trust shall have 30 days thereafter to notify such Specified Holder
and each other Specified Holder of its acceptance or rejection of the terms and
conditions specified in the Conditional Acceptance.&#160; The Trust&#8217;s failure to
notify all Specified Holders within such 30-day period will be deemed a
rejection of the terms and conditions specified in the Conditional Acceptance.
Each Specified Holder may grant or deny any request for an extension of the
Term Redemption Date of its Specified Series in its sole and absolute
discretion.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:114.0pt;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(b)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Asset Coverage and Effective Leverage Ratio Mandatory</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Redemption</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:5.95pt;margin-top:0in;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(i)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Asset Coverage Mandatory Redemption</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. (A) If the Trust
fails to comply with the Asset Coverage requirement as provided in </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section
2.4(a)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> and such failure is not cured as of the related Asset Coverage Cure
Date, the Trust shall, to the extent permitted by the 1940 Act and
Massachusetts law, by the close of business on the Business Day next following
such Asset Coverage Cure Date, (x) cause a notice of redemption to be issued,
and cause to be deposited Deposit Securities (in the case of the VRTP Shares)
or sufficient securities or funds (in the case of any other Preferred Shares)
in trust with the Redemption and Paying Agent or other applicable paying agent,
in each case in accordance with the terms of the Preferred Shares to be
redeemed, for the redemption of a sufficient number of Preferred Shares, that,
to the extent permitted by the 1940 Act and Massachusetts law, would enable the
Trust to meet the requirements of </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(b)(i)(B)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> or (y) deliver to
the Holders of VRTP Shares a certificate signed by a duly authorized officer of
the Trust that specifies the identity and Market Value of assets of the Trust
for which the Trust has entered into corrective trades in order to satisfy the
Asset Coverage requirement as provided in </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.4(a)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> and certifies
that the Asset Coverage requirement as provided in </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.4(a)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> shall
be satisfied by reason of such trades on or prior to the twentieth (20th) day
following such Asset Coverage Cure Date. If the Trust elects to effect a
redemption pursuant to Section 2.5(b)(i)(A)(x), the Trust shall allocate such
redemption on a pro rata basis among different series of Preferred Shares
(including each Series of VRTP Shares) based upon the proportion the aggregate
liquidation preference of the outstanding Preferred Shares of any series bears
to the aggregate liquidation preference of all outstanding series of Preferred
Shares (a &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Pro Rata Allocation</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#8221;). In the event that any VRTP Shares of a
Series then Outstanding are to be redeemed pursuant to </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section
2.5(b)(i)(A)(x)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, the Trust shall redeem such VRTP Shares, out of then
existing Legally Available Funds, at a price per share equal to the Liquidation
Preference plus an amount equal to all unpaid dividends and other distributions
on such VRTP Shares accumulated in respect of such VRTP Shares through (but
excluding) the date fixed for such redemption by the Board of Trustees (whether
or not earned or declared by the Trust, but without interest thereon, and
subject to </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(e)(vi)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">) (the &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Mandatory Redemption</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Price</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#8221;).</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">24</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_43"></a><a name="_bclPageBorder43"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.35pt;margin-top:3.8pt;text-align:justify;text-indent:2.0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(B)&#160;&#160;&#160;&#160;&#160;&#160; On
the Redemption Date for a redemption contemplated by</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> Section 2.5(b)(i)(A)(x)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">,
the Trust shall redeem at the Mandatory Redemption Price, out of then existing
Legally Available Funds, such number of Preferred Shares (based upon a number
and proportion of each series of Preferred Shares as shall be necessary to
effect a Pro Rata Allocation) as shall be equal to the lesser of (x) the
minimum number of Preferred Shares, the redemption of which, if deemed to have
occurred immediately prior to the opening of business on the day following the
Asset Coverage Cure Date, would result in the Trust having Asset Coverage on
such Asset Coverage Cure Date of at least 225% (</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">provided, however</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">, that
if there is no such minimum number of VRTP Shares and other Preferred Shares
the redemption or retirement of which would have such result, all VRTP Shares
and other Preferred Shares then outstanding shall be redeemed) and (y) the
maximum number of Preferred Shares that can be redeemed out of then existing
Legally Available Funds in accordance with the Declaration of Trust and
applicable law. The Trust shall effect any such redemption on the date fixed by
the Trust therefor, which date shall not be later than thirty (30) calendar
days after such Asset Coverage Cure Date, except that if the Trust does not have
Legally Available Funds for the redemption of all of the required number of
VRTP Shares and other Preferred Shares which have been designated to be
redeemed or the Trust is otherwise unable to effect such redemption on or prior
to thirty (30) calendar days after such Asset Coverage Cure Date, the Trust
shall (i) redeem those VRTP Shares and other Preferred Shares that it is able
to redeem (based upon a number and proportion of each series of Preferred
Shares as shall be necessary to effect a Pro Rata Allocation) and (ii) redeem
those VRTP Shares and other Preferred Shares which it was unable to redeem on
the earliest practicable date on that it is able to effect such redemption
(based upon a number and proportion of each series of Preferred Shares as shall
be necessary to effect a Pro Rata Allocation). If fewer than all of the
Outstanding VRTP Shares of a Series are to be redeemed pursuant to this </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section
2.5(b)(i)(B)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">, the number of VRTP Shares of such Series to be redeemed shall
be redeemed (A) pro rata among the Outstanding VRTP Shares of such</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.45pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series,</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:29.45pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(B)
by lot or (C) in such other manner as the Board of Trustees may determine to be
fair and equitable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.45pt;margin-top:4.5pt;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(ii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Effective Leverage Ratio Mandatory Redemption</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. (A) If (x)
the Trust fails to comply with the Effective Leverage Ratio requirement as
provided in </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.4(c)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, (y) with respect to the Specified Series,
the Trust fails to comply with the Effective Leverage Ratio requirement
determined as set forth in </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 6.10</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> of the Initial Purchase
Agreement if such requirement shall still be in effect in accordance with the
terms of the Initial Purchase Agreement, or (z) with respect to any other
Series of VRTP Shares issued pursuant to this Amendment, the Trust fails to
comply with any additional requirements relating to the determination of the
Effective Leverage Ratio requirement determined pursuant to the Purchase
Agreement or Appendix applicable to such Series, and, in any such case, such
failure is not</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">cured as of the close
of business on the date that is seven (7) Business Days following the Business
Day on which such non-compliance is first determined (the &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Effective
Leverage Ratio Cure Date</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#8221;), the Trust shall not later than the close of
business on the Business Day next following the Effective Leverage Ratio Cure
Date initiate procedures to cause the Effective Leverage Ratio (determined, as
applicable, in accordance with the requirements applicable to the determination
of the Effective Leverage Ratio under this Amendment and the related Appendix,
the Initial Purchase Agreement or other Purchase Agreement for any applicable
Series of VRTP Shares in respect of which the Effective Leverage Ratio is being
determined) not to exceed the Effective Leverage Ratio required under </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section
2.4(c)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> (without giving effect to the</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">parenthetical</font></p>









<a name="_bclFooter43"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">25</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_44"></a><a name="_bclPageBorder44"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.55pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">provision in the first sentence of </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section
2.4(c)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">) as so determined, by (x) to the extent permitted by the 1940 Act
and Massachusetts law, causing a notice of redemption to be issued fixing a
redemption date, and causing to be deposited sufficient Deposit Securities (in
the case of the VRTP Shares) or sufficient securities or funds (in the case of
any other Preferred Shares) in trust with the Redemption and Paying Agent or
other applicable paying agent, in each case in accordance with the terms of the
Preferred Shares to be redeemed, for the redemption of a sufficient number of
Preferred Shares, based upon a number and proportion of each series of
Preferred Shares as shall be necessary to effect a Pro Rata Allocation, or (y) delivering
to the Holders of the VRTP Shares a certificate signed by a duly authorized
officer of the Trust that specifies the identity and Market Value of assets of
the Trust for which the Trust has entered into corrective trades in order to
satisfy the Effective Leverage Ratio requirement as provided in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section
2.4(c)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> and certifies that the Effective Leverage Ratio requirement as
provided for in </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.4(c)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> shall be satisfied by reason of such
trades on or prior to the twentieth (20<sup>th</sup>) day following the Effective
Leverage Ratio Cure Date.&#160; In the event that any VRTP Shares of a Series are to
be redeemed pursuant to clause (x) of the preceding sentence of this </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">
</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">2.5(b)(ii)(A)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">, the Trust shall redeem such VRTP Shares at a price per
VRTP Share equal to the Mandatory Redemption</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;">
</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Price.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:17.45pt;margin-top:0in;text-align:justify;text-indent:2.0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(B)&#160;&#160;&#160;&#160;&#160;&#160; On the Redemption Date
selected by the Trust for a redemption contemplated by clause (x) of </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section
2.5(b)(ii)(A)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> (which date shall not be later than the later of (i) thirty
(30) calendar days after such Effective Leverage Ratio Cure Date</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-1.85pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">and</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.95pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(ii)
the date on which shares of each outstanding series of Preferred Shares of the
Trust may be redeemed in accordance with the redemption procedures applicable
to such Preferred Shares), the Trust shall not redeem more than the maximum
number of Preferred Shares that can be redeemed out of then existing Legally
Available Funds in accordance with the Declaration of Trust and applicable law.
If the Trust is unable to redeem the required number of VRTP Shares and other
Preferred Shares which have been designated to be redeemed in accordance with
clause (x) of </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(b)(ii)(A)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> due to the unavailability of Legally
Available Funds, the Trust shall (i) redeem those VRTP Shares and other
Preferred Shares that it is able to redeem (based upon the number and
proportion of each series of Preferred Shares as shall be necessary to effect a
Pro Rata Allocation) and (ii) redeem those VRTP Shares and other Preferred
Shares which it was unable to redeem on the earliest practicable date on that it
is able to effect such redemption (based upon the number and proportion of each
series of Preferred Shares as shall be necessary to effect a Pro Rata
Allocation).&#160; If fewer than all of the Outstanding VRTP Shares of a Series are
to be redeemed pursuant to clause (x) of </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(b)(ii)(A)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">, the
number of VRTP Shares of such Series to be redeemed shall be redeemed (A) pro
rata among the Outstanding VRTP Shares of such Series, (B) by lot or (C) in
such other manner as the Board of Trustees may determine to be fair and
equitable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:114.0pt;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(c)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Redemption upon the Occurrence of Certain</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Events</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:59.85pt;margin-top:0in;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(i)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">The Trust shall redeem all of the VRTP Shares upon the occurrence
of any of the following</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">events:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:9.3pt;margin-top:0in;text-indent:2.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(A)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">the occurrence of a Dividend Payment Failure Event (other than a
Dividend Payment Failure Event that was directly caused by a Force Majuere
Event) for</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">a</font></p>









<a name="_bclFooter44"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">26</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_45"></a><a name="_bclPageBorder45"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:16.1pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">third time for any reason and
without regard to whether the first two Dividend Payment Failure Events have
ended as contemplated pursuant to </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.2(g)(ii)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:186.0pt;margin-right:0in;margin-top:.05pt;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(B)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">an Insolvency Event</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">occurs;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:7.95pt;margin-top:.05pt;text-indent:2.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(C)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">the Investment Management Agreement terminates or otherwise
ceases to be in full force or effect for any reason or the Trust or the Adviser
challenges the validity or the enforceability</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;">
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">thereof;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:12.25pt;margin-top:.05pt;text-indent:2.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(D)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">without limiting the obligations of the Trust to redeem any or
all of the VRTP Shares pursuant to, and in accordance with the provisions
hereof relating to, any other Mandatory Redemption Event, an Increased Rate
Event continues for more than one hundred and eighty (180)</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">days;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.95pt;margin-top:0in;text-indent:2.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(E)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">the Credit Facility (i) terminates prior to the Term Redemption
Date of any Specified Series or otherwise ceases to be in full force or effect
for any reason, (ii) the Trust challenges the validity or the enforceability of
the Credit Facility or (iii) any amounts due and payable in respect of Advances
(as defined therein) have been accelerated as a result of an Event of Default
(as defined therein) thereunder;</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">or</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:10.95pt;margin-top:0in;text-indent:2.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(F)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">the failure of the Trust to redeem in full (or repurchase and
retire) all of the outstanding Auction Preferred Shares on or prior to January
31,</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2013.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:7.5pt;margin-top:0in;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(ii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Upon the occurrence of any such event, referenced in </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section
2.5(c)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, the Trust shall redeem all of the VRTP Shares, at a price equal to
the Liquidation Preference for such VRTP Shares, plus an amount equal to all
unpaid dividends and other distributions on such VRTP Shares accumulated in
respect of such VRTP Shares through (but excluding) the Redemption Date
(whether or not earned or declared, by the Trust, but without interest thereon)
and subject to </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(e)(vi)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. The Trust shall effect any such
redemption on the date fixed by the Trust therefor pursuant to </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section
2.5(e)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, except that if the Trust does not have Legally Available Funds for
the redemption of all of the VRTP Shares, the Trust shall (i) redeem those VRTP
Shares that it is able to redeem (based upon a number and proportion of each
series of VRTP Shares as shall be necessary to effect a Pro Rata Allocation)
and (ii) redeem those VRTP Shares which it was unable to redeem on the earliest
practicable date on that it is able to effect such redemption (based upon a
number and proportion of each series of Preferred Shares as shall be necessary
to effect a Pro Rata</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Allocation).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:114.0pt;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(d)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Optional</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Redemption</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:6.25pt;margin-top:0in;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(i)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Subject to the provisions of </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(d)(ii)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> and </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section
2.5(d)(iv)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, the Trust may, solely for purposes of decreasing the leverage
of the Trust, at its option on any Business Day (an &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Optional Redemption
Date</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#8221;) redeem in whole or from time to time in part the Outstanding VRTP
Shares of any Series, out of then existing Legally Available Funds, at a
redemption price per VRTP Share (the &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Optional Redemption Price</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#8221;) equal
to (x) the Liquidation Preference for such VRTP Shares </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">plus</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> (y) an
amount equal to all unpaid dividends and other distributions on such VRTP Share
of such Series accumulated in respect of such VRTP Shares through (but
excluding) the Optional Redemption Date (whether or not earned or</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">declared</font></p>









<a name="_bclFooter45"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">27</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_46"></a><a name="_bclPageBorder46"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:16.75pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">by the Trust, but without interest
thereon, and subject to </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(e)(vi)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> and any Liquidation Fee
payable in respect of the Series L VRTP Shares).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:10.9pt;margin-top:.05pt;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(ii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">If fewer than all of the outstanding VRTP Shares of a Series are
to be redeemed pursuant to </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(d)(i)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, the VRTP Shares of such
Series to be redeemed shall be selected either (A) pro rata among the
Outstanding shares of such Series, (B) by lot or (C) in such other manner as
the Board of Trustees may determine to be fair and equitable. Subject to the
provisions of this Amendment and applicable law, the Board of Trustees will
have the full power and authority to prescribe the terms and conditions upon which
VRTP Shares will be redeemed pursuant to this </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(d)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> from time
to</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.4pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">time.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:8.65pt;margin-top:.05pt;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(iii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">The Trust may not on any date deliver a Notice of Redemption
pursuant to </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(e)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> in respect of a redemption contemplated to be
effected pursuant to this</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> Section 2.5(d)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> unless on such date the Trust
has available Deposit Securities having a Market Value not less than the amount
that will be due to Holders of VRTP Shares by reason of the redemption of such
VRTP Shares on the Optional Redemption Date contemplated by such Notice of
Redemption. Subject to </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(d)(iv)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, the Trust may not, without
the consent of the Majority Holders, use proceeds from the issuance of senior
securities (as the term is defined under the 1940 Act) in order to effect a
redemption of VRTP Shares pursuant to </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(d)(i)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:14.6pt;margin-top:4.5pt;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(iv)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Notwithstanding the foregoing, solely during the period of 180
days immediately preceding the Term Redemption Date for VRTP Shares of a
Series, the Trust may effect a redemption of all Outstanding VRTP Shares of
such Series pursuant to </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(d)(i)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> without reducing the leverage
of the Trust and may use the proceeds from the issuance of senior securities to
effect such</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">redemption.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:114.0pt;margin-right:0in;margin-top:.05pt;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(e)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Procedures for</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Redemption</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.85pt;margin-top:.05pt;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;">(i)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.1pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">If the Trust shall elect or be required to redeem, in whole or in
part, VRTP Shares of a Series pursuant to </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(a),</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(b)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(c)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">,
or </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(d)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, the Trust shall deliver a notice of redemption (the &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Notice
of Redemption</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#8221;), by overnight delivery, by first class mail, postage
prepaid or by Electronic Means to Holders thereof, or request the Redemption
and Paying Agent, on behalf of the Trust, to promptly do so by overnight
delivery, by first class mail, postage prepaid or by Electronic Means. A Notice
of Redemption shall be provided not more than forty-five (45) calendar days and
not less than fifteen (15) calendar days (or such shorter or longer notice
period as specified in or as required to comply with </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(b)(i)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">
and </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(b)(ii)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> or as may be consented to by all of the Holders)
prior to the date, which shall be a Business Day, fixed for redemption in such
Notice of Redemption (the &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Redemption Date</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#8221;). Each such Notice of
Redemption shall state: (A) the Redemption Date; (B) the Series and number of
VRTP Shares to be redeemed; (C) the CUSIP number for VRTP Shares of such
Series; (D) the applicable Redemption Price on a per share basis; (E) if
applicable, the place or places where the security certificate(s) for such
shares (properly endorsed or assigned for transfer, if the Board of Trustees
requires and the Notice of Redemption states) are to be surrendered for payment
of the Redemption Price; (F) that, except as expressly provided in this
Amendment, dividends on the VRTP Shares to be redeemed will cease to accumulate
from and after such Redemption Date; and (G) the provisions of this Amendment
under which</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.6pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">such</font></p>









<a name="_bclFooter46"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">28</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_47"></a><a name="_bclPageBorder47"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.15pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">redemption is made. If fewer than
all VRTP Shares held by any Holder are to be redeemed, the Notice of Redemption
delivered to such Holder shall also specify the number of VRTP Shares to be
redeemed from such Holder and, if applicable, the method of determining such
number. The Trust may provide in any Notice of Redemption relating to an
optional redemption contemplated to be effected pursuant to this Amendment that
such redemption is subject to one or more conditions precedent not otherwise
expressly set forth herein and that the Trust shall not be required to effect
such redemption unless each such condition has been satisfied at the time or
times and in the manner specified in such Notice of Redemption. No defect in
the Notice of Redemption or delivery thereof shall affect the validity of
redemption proceedings, except as required by applicable law.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:9.95pt;margin-top:0in;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;">(ii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.1pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">If the Trust shall give a Notice of Redemption, then at any time
from and after the giving of such Notice of Redemption and prior to 11:00 a.m.,
New York City time, on the Redemption Date (so long as any conditions precedent
to such redemption have been met or waived by the Trust), the Trust shall (A)
deposit with the Redemption and Paying Agent Deposit Securities having an
aggregate Market Value on the date thereof no less than the Redemption Price of
the VRTP Shares to be redeemed on the Redemption Date and (B) give the
Redemption and Paying Agent irrevocable instructions and authority to pay the
applicable Redemption Price to the Holders of VRTP Shares called for redemption
on the Redemption Date. The Trust may direct the Redemption and Paying Agent
with respect to the investment of any Deposit Securities consisting of cash so
deposited prior to the Redemption Date, provided that the proceeds of any such
investment shall be available at the opening of business on the Redemption Date
as same-day funds. Notwithstanding the provisions of the preceding sentence, if
the Redemption Date is the Term Redemption Date, then such deposit of Deposit
Securities (which may come in whole or in part from the Term Redemption
Liquidity Account) shall be made no later than the 15th calendar day (or, if
such day is not a Business Day, the next succeeding Business Day) of the month
prior to the month in which the Term Redemption Date occurs.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.8pt;margin-top:4.5pt;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;">(iii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.1pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Upon the date of the deposit of such Deposit Securities, all
rights of the Holders of VRTP Shares so called for redemption shall cease and
terminate except the right of the Holders thereof to receive the Redemption
Price thereof and such VRTP Shares shall no longer be deemed Outstanding for
any purpose whatsoever (other than (A) the transfer</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.9pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">thereof prior to the applicable Redemption Date and (B) the
accumulation of dividends thereon in accordance with the terms hereof,
including </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(e)(vi)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, up to (but excluding) the applicable date
of redemption of such VRTP Shares, which accumulated dividends shall be payable
only as part of the applicable Redemption Price on the date of redemption of
such VRTP Shares). The Trust shall be entitled to receive, promptly after the
date of redemption of any VRTP Shares called for redemption on a Redemption Date,
any Deposit Securities in excess of the aggregate Redemption Price of such VRTP
Shares. Any Deposit Securities so deposited that are unclaimed at the end of
three hundred sixty-five (365) calendar days from the date of redemption of any
VRTP Shares called for redemption on a Redemption Date shall, to the extent
permitted by law, be repaid to the Trust, after which the Holders of VRTP
Shares so called for redemption shall look only to the Trust for payment of the
Redemption Price thereof. The Trust shall be entitled to receive, from time to
time after the date of redemption of any VRTP Shares called for redemption on a
Redemption Date, any interest on the Deposit Securities deposited to effect
such redemption that is not applied</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">therefor.</font></p>









<a name="_bclFooter47"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">29</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_48"></a><a name="_bclPageBorder48"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.55pt;margin-top:3.8pt;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;">(iv)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.1pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Notwithstanding the other provisions of this </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">,
except as otherwise required by law, the Trust shall not redeem any VRTP Shares
or other series of Preferred Shares ranking on a parity with the VRTP Shares
with respect to dividends and other distributions unless all accumulated and
unpaid dividends and other distributions on all Outstanding VRTP Shares and
such other series of Preferred Shares for all applicable past dividend periods
(whether or not earned or declared by the Trust) (x) shall have been or are
contemporaneously paid or (y) shall have been or are contemporaneously declared
and sufficient Deposit Securities (in the case of the VRTP Shares) or
sufficient securities or funds (in accordance with the terms of such other
Preferred Shares) for the payment of such dividends and other distributions
shall have been or are contemporaneously deposited with the Redemption and
Paying Agent or other applicable paying agent for such VRTP Shares or other
Preferred Shares in accordance with the terms of the VRTP Shares or other
Preferred Shares, </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">provided</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">however</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, that the foregoing shall not
prevent the purchase or acquisition by the Trust of Outstanding VRTP Shares
pursuant to an otherwise lawful purchase or exchange offer made on the same
terms to Holders of all Outstanding VRTP Shares and any such other series of
Preferred Shares for which all accumulated and unpaid dividends and other
distributions have not been</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.8pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">paid.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:10.85pt;margin-top:0in;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;">(v)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.1pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">To the extent that any redemption for which a Notice of
Redemption has been provided is not made by reason of the absence of Legally
Available Funds therefor in accordance with the Declaration of Trust, this
Amendment, and applicable law, such redemption shall be made as soon as
practicable to the extent such funds become available. In the case of any
redemption of VRTP Shares pursuant to </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(d)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, no Redemption
Failure shall be deemed to have occurred if the Trust shall fail to deposit in
trust with the Redemption and Paying Agent the Redemption Price with respect to
any shares where (x) the Notice of Redemption relating to such redemption
provided that such redemption was subject to one or more conditions precedent
and (y) any such condition precedent shall not have been satisfied at the time
or times and in the manner specified in such Notice of</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Redemption.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:8.35pt;margin-top:0in;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;">(vi)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.1pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Notwithstanding anything to the contrary herein or in any Notice
of Redemption, if the Trust shall not have redeemed VRTP Shares on the
applicable Redemption Date for which a Notice of Redemption has been provided,
the Holders of VRTP Shares shall continue to be entitled to receive dividends
on such VRTP Shares at the Dividend Rate for the period from, and including,
such Redemption Date through, but excluding, the date on which such VRTP Shares
are actually redeemed and such dividends, to the extent accumulated, but
unpaid, during such period (whether or not earned or declared but without
interest thereon), shall be included in the Redemption Price for such VRTP</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:6.05pt;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(f)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Redemption and Paying Agent as Trustee of Redemption Payments
by Trust</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. All Deposit Securities transferred to the Redemption and Paying
Agent for payment of the Redemption Price of VRTP Shares called for redemption
shall be held in trust by the Redemption and Paying Agent for the benefit of
Holders of VRTP Shares so to be redeemed until paid to such Holders in
accordance with the terms hereof or returned to the Trust in accordance with
the provisions of </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(e)(iii)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;">
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">above.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:13.95pt;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(g)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Compliance With Applicable Law</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. In effecting any
redemption pursuant to this </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, the Trust shall use its best
efforts to comply with all applicable conditions precedent to effecting such
redemption under the 1940 Act and any applicable</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Massachusetts</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">30</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_49"></a><a name="_bclPageBorder49"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:19.8pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">law, but shall effect no redemption
except in accordance with the 1940 Act and any applicable Massachusetts law.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:15.65pt;margin-top:.05pt;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(h)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Modification of Redemption Procedures</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. Notwithstanding the
foregoing provisions of this </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, the Trust may, in its sole
discretion and without a shareholder vote, modify the procedures set forth
above with respect to notification of redemption for the VRTP Shares (other
than the 15-day period for delivery of a Notice of Redemption), provided that
such modification does not materially and adversely affect the Holders of VRTP
Shares or cause the Trust to violate any applicable law, rule or regulation;
and provided further that no such modification shall in any way alter the
rights or obligations of the Redemption and Paying Agent without its prior</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">consent.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-36.05pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">2.6</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Voting Rights</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:5.9pt;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(a)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">One Vote Per VRTP Share</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. Except as otherwise provided in
the Declaration of Trust, this Amendment, or as otherwise required by law, (i)
each Holder of Outstanding VRTP Shares shall be entitled to one vote for each
Outstanding VRTP Share held by such Holder on each matter submitted to a vote
of all shareholders of the Trust, and (ii) the Holders of outstanding Preferred
Shares, including VRTP Shares, and Common Shares shall vote together as a
single class; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">provided</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">however</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, that, as provided in Article IV,
Section 2 of the Declaration of Trust, the Holders of outstanding Preferred
Shares, including VRTP Shares, shall be entitled, as a class, to the exclusion
of the Holders of Common Shares and all other securities of the Trust, to elect
two Trustees of the Trust at all times. Two of the existing Trustees as of the
date of this Amendment will be designated by the Trustees as of that date as
the initial Trustees elected by the Holders of the outstanding Preferred
Shares.&#160; Subject to </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.6(b)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, the Holders of outstanding Common
Shares and Preferred Shares, including VRTP Shares, voting together as a single
class, shall elect the balance of the</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Trustees.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:114.0pt;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(b)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Voting For Additional</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Trustees</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:8.6pt;margin-top:0in;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(i)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Voting Period</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. During any period in which any one or more
of the conditions described in clauses (A) or (B) of this </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.6(b)(i)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">
shall exist (such period being referred to herein as a &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Voting Period</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#8221;),
the number of Trustees constituting the Board of Trustees shall be
automatically increased by the smallest number that, when added to the two
Trustees elected exclusively by the Holders of outstanding Preferred Shares,
including VRTP Shares, would constitute a majority of the Board of Trustees as
so increased by such smallest number; and the Holders of outstanding Preferred
Shares, including VRTP Shares, shall be entitled, voting as a class on a
one-vote-per-share basis (to the exclusion of the Holders of all other
securities and classes of shares of the Trust), to elect such smallest number
of additional Trustees, together with the two Trustees that such Holders are in
any event entitled to elect. A Voting Period shall</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">commence:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:15.65pt;margin-top:0in;text-indent:2.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(A)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">if, at the close of business on any dividend payment date,
accumulated dividends (whether or not earned or declared) on any outstanding
Preferred Share, including any VRTP Shares, equal to at least two (2) full
years&#8217; dividends shall be due and unpaid and sufficient cash or specified
securities shall not have been deposited with</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.35pt;">
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">the</font></p>









<a name="_bclFooter49"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">31</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_50"></a><a name="_bclPageBorder50"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:50.75pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Redemption and Paying Agent or
other applicable paying agent for the payment of such accumulated dividends; or</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:26.2pt;margin-top:4.5pt;text-indent:2.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">(B)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">if at any time Holders of Preferred Shares are </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;">otherwise </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">entitled under the 1940 Act to
elect a majority of the Board of</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.75pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Trustees.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.75pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">A Voting Period shall terminate
upon all of such conditions ceasing to exist. Upon the termination of a Voting
Period, the voting rights described in this </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.6(b)(i)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> shall
cease, subject always, however, to the revesting of such voting rights in the
Holders of Preferred Shares upon the further occurrence of any of the events
described in this </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.6(b)(i)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.55pt;margin-top:0in;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(ii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Notice of Special Meeting</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. As soon as practicable after
the accrual of any right of the Holders of Preferred Shares to elect additional
Trustees as described in</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> Section 2.6(b)(i)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, the Trust shall call a
special meeting of such Holders and notify the Redemption and Paying Agent
and/or such other Person as is specified in the terms of such Preferred Shares
to receive notice (i) by mailing or delivery by Electronic Means or (ii) by
delivering in such other manner and by such other means as are specified in the
terms of such Preferred Shares a notice of such special meeting to such
Holders, such meeting to be held not less than ten (10) nor more than thirty
(30) calendar days after the date of the delivery by Electronic Means or
mailing of such notice or the delivery of such notice by such other manner or
means as are described in clause (ii) above. If the Trust fails to call such a
special meeting, it may be called at the expense of the Trust by any such
Holder on like notice. The record date for determining the Holders of Preferred
Shares entitled to notice of and to vote at such special meeting shall be the
close of business on the fifth (5<sup>th</sup>) Business Day preceding the
calendar day on which such notice is mailed or otherwise delivered. At any such
special meeting and at each meeting of Holders of Preferred Shares held during
a Voting Period at which Trustees are to be elected, such Holders, voting
together as a class (to the exclusion of the Holders of all other securities
and classes of capital stock of the Trust), shall be entitled to elect the
number of Trustees prescribed in </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.6(b)(i)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> on a
one-vote-per-share</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">basis.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:7.8pt;margin-top:0in;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(iii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Terms of Office of Existing Trustees</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. The terms of office
of the incumbent Trustees of the Trust at the time of a special meeting of
Holders of Preferred Shares to elect additional Trustees in accordance with </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section
2.6(b)(i)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> shall not be affected by the election at such meeting by the
Holders of VRTP Shares and such other Holders of Preferred Shares of the number
of Trustees that they are entitled to elect, and the Trustees so elected by</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.85pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">the Holders of VRTP Shares and such other
Holders of Preferred Shares, together with the two (2) Trustees elected by the
Holders of Preferred Shares in accordance with </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.6(a)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> hereof and
the remaining Trustees elected by the Holders of the Common Shares and
Preferred Shares, shall constitute the duly elected Trustees of the</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Trust.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:9.7pt;margin-top:.05pt;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(iv)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Terms of Office of Certain Trustees to Terminate Upon
Termination of Voting Period</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. Simultaneously with the termination of a
Voting Period, the terms of office of the additional Trustees elected by the
Holders of the Preferred Shares pursuant to </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.6(b)(i)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> shall
terminate, the remaining Trustees shall constitute the Trustees of the Trust
and the voting rights of the Holders of Preferred Shares to elect additional
Trustees pursuant to </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.6(b)(i)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> shall cease, subject to the
provisions of the last sentence of </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.6(b)(i)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>









<a name="_bclFooter50"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">32</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_51"></a><a name="_bclPageBorder51"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin-bottom:.0001pt;margin-left:114.0pt;margin-right:0in;margin-top:3.8pt;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(c)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Holders of VRTP Shares to Vote on Certain</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.4pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Matters</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:9.55pt;margin-top:0in;text-align:justify;text-indent:1.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Certain Amendments
Requiring Approval of VRTP Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">. Except as otherwise permitted by the
terms of this Amendment, so long as any VRTP Shares are Outstanding, the Trust
shall not, without the affirmative vote or consent of the Majority Holders,
voting together as a separate class, amend, alter or repeal the provisions of
this Amendment, whether by merger, consolidation or otherwise, so as to
materially and adversely affect any preference, right or power of such VRTP
Shares; </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">provided</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">, </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">however</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">, that (i) a change in the
capitalization of the Trust in accordance with </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.8</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> hereof shall
not be considered to materially and adversely affect the rights and preferences
of the VRTP Shares and (ii) a division of a VRTP Share shall be deemed to
materially and adversely affect such preferences, rights or powers only if the
terms of such division materially and adversely affect the Holders of the VRTP
Shares. For purposes of the foregoing, no matter shall be deemed to materially</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.35pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">and</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">adversely
affect any preference, right or power of a VRTP Share of any Series unless such
matter</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:10.6pt;margin-top:0in;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(i)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">alters
or abolishes any preferential right or power of such VRTP Share or of the
Holder thereof or (ii) creates, alters or abolishes any right in respect of
redemption of such VRTP Share (other than solely as a result of a division of a
VRTP Share). To the furthest extent permitted by law, so long as any VRTP
Shares are Outstanding, the Trust shall not, without the affirmative vote or
consent of the Holders of at least 66 2/3% of the VRTP Shares Outstanding at
the time, voting as a separate class, file a voluntary application for relief
under Federal bankruptcy law or any similar application under state law for so
long as the Trust is solvent and does not foresee becoming</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">insolvent</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.05pt;margin-top:4.5pt;text-indent:1.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(ii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Certain Amendments Requiring Approval of Specific Series of
VRTP Shares</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. Except as otherwise permitted by the terms of this Amendment,
so long as any VRTP Shares of a Series are Outstanding, the Trust shall not,
without the affirmative vote or consent of the Majority Holders, voting as a
separate class, amend, alter or repeal the provisions of the Appendix relating
to such Series, whether by merger, consolidation or otherwise, so as to
materially and adversely affect any preference, right or power of the VRTP
Shares of such Series or of the Holders thereof set forth in such Appendix; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">provided</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">,
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">however</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, that (i) a change in the capitalization of the Trust in
accordance with </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.8</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> hereof shall not be considered to materially
and adversely affect the rights and preferences of the VRTP Shares of such
Series,</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.65pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">and</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.2pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(ii)
a division of a VRTP Share shall be deemed to affect such preferences, rights
or powers only if the terms of such division materially and adversely affect
the VRTP Shares of such Series or the Holders thereof; and </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">provided</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">, </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">further</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">,
that no amendment, alteration or repeal of (x) the obligation of the Trust to
(i) pay the Term Redemption Price on the Term Redemption Date for a Series or
(ii) accumulate dividends at the Dividend Rate (as set forth in this Amendment
and the applicable Appendix hereto) or adjust the basis for calculating the
Dividend Rate or (y) the provisions of the Appendix setting forth the Term
Redemption Date or the Liquidation Preference for the VRTP Shares, in each
case, for a Series, or the provisions of this Amendment relating to the
extension of the Term Redemption Date of a Series, shall be effected without,
in each case, the prior unanimous vote or consent of the Holders of such Series
of VRTP Shares. For purposes of the foregoing, no matter shall be deemed to
adversely affect any preference, right or power of a VRTP Share of a Series or
of the Holder thereof unless such matter (i) alters or abolishes any
preferential right or power of such VRTP Share or of the Holder thereof, or</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(ii)
creates, alters or abolishes any right in respect of redemption of such VRTP
Share.</font></p>









<a name="_bclFooter51"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">33</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_52"></a><a name="_bclPageBorder52"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.95pt;margin-top:3.8pt;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(d)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Voting Rights Set Forth Herein Are Sole Voting Rights</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.
Unless</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-1.25pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">otherwise required by law,
the Declaration of Trust or this Amendment, the Holders of VRTP Shares shall
not have any relative rights or preferences or other special rights with
respect to voting such VRTP Shares other than those specifically set forth in
this </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.6</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">provided</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">however</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, that nothing in this
Amendment or the Declaration of Trust shall be deemed to preclude or limit the
right of the Trust (to the extent permitted by applicable law) to contractually
agree with any Holder, Designated Owner or Specified Holder of VRTP Shares of
any Series that any action or inaction by the Trust shall require the consent
or approval of such Holder, Designated Owner or Specified Holder.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:9.0pt;margin-top:.05pt;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(e)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">No Cumulative Voting</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. The Holders of VRTP Shares shall
have no rights to cumulative</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">voting.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:9.5pt;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(f)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Voting for Trustees Sole Remedy for Trust&#8217;s Failure to Declare
or Pay Dividends</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. In the event that the Trust fails to pay any dividends on
any Series of any VRTP Shares on the Dividend Payment Date therefor, the
exclusive remedy of the Holders of VRTP Shares shall be the right to vote for
Trustees pursuant to the provisions of this </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.6</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. Nothing in this
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.6(f)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> shall be deemed to affect the obligation of the Trust to
accumulate and, if permitted by applicable law, the Declaration of Trust and
this Amendment, pay dividends at the Increased Rate in the circumstances
contemplated by </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.2(g)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.5pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">hereof.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:10.9pt;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(g)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Holders Entitled to Vote</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. For purposes of determining any
rights of the Holders of VRTP Shares to vote on any matter, whether such right
is created by this Amendment, by the Declaration of Trust, by statute or
otherwise, no Holder of VRTP Shares shall be entitled to vote any VRTP Share
and no VRTP Share shall be deemed to be &#8220;Outstanding&#8221; for the purpose of voting
or determining the number of shares required to constitute a quorum if, prior
to or concurrently with the time of determination of shares entitled to vote or
shares deemed outstanding for quorum purposes, as the case may be, the
requisite Notice of Redemption with respect to such VRTP Share shall have been
given in accordance with this Amendment and Deposit Securities for the payment
of the Redemption Price of such VRTP Share shall have been deposited in trust
with the Redemption and Paying Agent for that purpose. No VRTP Share held
(legally or beneficially) or controlled by the Trust shall have any voting
rights or be deemed to be Outstanding for voting or for calculating the voting
percentage required on any other matter or other</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.35pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">purposes.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:14.55pt;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(h)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Grant of Irrevocable Proxy</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. To the fullest extent
permitted by applicable law, each Holder, Designated Owner and Specified Holder
may in its discretion grant an irrevocable proxy with respect to the VRTP</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">2.7</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Rating</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Agencies</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.2pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The Trust shall use commercially
reasonable efforts to cause at least two Rating Agencies to issue long-term
credit ratings with respect to each Series of VRTP Shares for so long as such
Series is Outstanding. The Trust shall use commercially reasonable efforts to
comply with any applicable Rating Agency Guidelines. If a Rating Agency shall
cease to rate the securities of closed-end management investment companies
generally, the Board of Trustees shall terminate the designation of such Rating
Agency as a Rating Agency hereunder. The Board of Trustees</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">34</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_53"></a><a name="_bclPageBorder53"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.65pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">may elect to terminate the
designation of any Rating Agency as a Rating Agency hereunder with respect to a
Series of VRTP Shares so long as either (x) immediately following such
termination, there would be at least two Rating Agencies with respect to such Series
or (y) it replaces the terminated Rating Agency with another NRSRO and provides
notice thereof to the Holders of such Series; provided that such replacement
shall not occur unless such NRSRO shall have at the time of such replacement
(i) published a rating for the VRTP Shares of such Series and (ii) entered into
an agreement with the Trust to continue to publish such rating subject to such
NRSRO&#8217;s customary conditions. The Board of Trustees may also elect to designate
one or more other NRSROs as Other Rating Agencies hereunder with respect to a
Series of VRTP Shares by notice to the Holders of VRTP Shares. The Rating
Agency Guidelines of any Rating Agency may be amended by such Rating Agency
without the vote, consent or approval of the Trust, the Board of Trustees or
any Holder of Preferred Shares, including any VRTP Shares, or Common Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:78.0pt;margin-right:0in;margin-top:4.5pt;text-indent:-36.05pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">2.8</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Issuance of Additional Preferred</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.25pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Shares</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:8.75pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Except as permitted under </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section
2.5(d)(iv)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> or with the consent of the Majority Holders, so long as any VRTP
Shares are Outstanding, the Trust shall not authorize, establish and create and
issue and sell shares of one or more series of a class of senior securities of
the Trust representing stock under Section 18 of the 1940 Act.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">2.9</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Status of Redeemed, Repurchased or Deemed Cancelled VRTP</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Shares</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:14.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">VRTP Shares that at any time have
been redeemed or purchased by the Trust or deemed cancelled pursuant to an
Appendix hereto shall, after such redemption or purchase or deemed
cancellation, have the status of authorized but unissued Preferred Shares,
unless otherwise expressly provided in an Appendix hereto.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:78.0pt;margin-right:0in;margin-top:.05pt;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">2.10</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Term Redemption Liquidity Account and Liquidity</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Requirement</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.95pt;margin-top:.05pt;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(a)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">On or prior to the Liquidity Account Initial Date with respect to
any Series of VRTP Shares, the Trust shall cause the Custodian to segregate, by
means of appropriate identification on its books and records or otherwise in
accordance with the Custodian&#8217;s normal procedures, from the other assets of the
Trust (the &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Term Redemption Liquidity Account</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#8221;) Liquidity Account Investments
with a Market Value equal to at least One Hundred Ten Percent (110%) of the
Term Redemption Amount with respect to such Series. The &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Term Redemption
Amount</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#8221; for any Series of VRTP Shares shall be equal to the Term Redemption
Price to be paid on the Term Redemption Date for such Series, based on the
number of shares of such Series then Outstanding, assuming for this purpose
that the Dividend Rate for such Series in effect at the time of the creation of
the Term Redemption Liquidity Account for such Series will be the Dividend Rate
in effect for such Series until the Term Redemption Date for such Series. If,
on any date after the Liquidity Account Initial Date, the aggregate Market
Value of the Liquidity Account Investments included in the Term Redemption
Liquidity Account for a Series of VRTP Shares as of the close of business on
any Business Day is less than One Hundred Ten Percent (110%) of the Term
Redemption Amount with respect to such Series, then the Trust shall cause the
Custodian and the Adviser to take all such necessary actions, including
segregating additional assets of the Trust as Liquidity Account Investments, so
that the aggregate Market Value of</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.25pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">the</font></p>









<a name="_bclFooter53"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">35</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_54"></a><a name="_bclPageBorder54"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.45pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Liquidity Account Investments
included in the Term Redemption Liquidity Account for such Series is at least
equal to One Hundred Ten Percent (110%) of the Term Redemption Amount with
respect to such Series not later than the close of business on the next
succeeding Business Day. With respect to assets of the Trust segregated as
Liquidity Account Investments with respect to a Series of VRTP Shares, the
Adviser, on behalf of the Trust, shall be entitled to instruct the Custodian on
any date to release any Liquidity Account Investments from such segregation and
to substitute therefor other Liquidity Account Investments, so long as (i) the
assets of the Trust segregated as Liquidity Account Investments in the Term
Redemption Liquidity Account at the close of business on such date have a
Market Value equal to at least One Hundred Ten Percent (110%) of the Term
Redemption Amount with respect to such Series and (ii) the Deposit Securities
included in the Term Redemption Liquidity Account at the close of business on
such date have a Market Value equal to at least the Liquidity Requirement (if
any) determined in accordance with </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.10(b)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> with respect such
Series for such date. The Trust shall cause the Custodian not to permit any
lien, security interest or encumbrance to be created</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-1.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">or permitted to exist on or in respect of any Liquidity Account
Investments included in the Term Redemption Liquidity Account for any Series of
VRTP Shares, other than liens, security interests or encumbrances permitted
under the Credit</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.25pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Facility.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:12.4pt;margin-top:.45pt;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(b)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">The Market Value of the Deposit Securities held in the Term</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Redemption Liquidity Account for a Series
of VRTP Shares, from and after the 15th day of the calendar month (or, if such
day is not a Business Day, the next succeeding Business Day) that is the number
of months preceding the calendar month in which the Term Redemption Date for
such Series occurs, in each case as specified in the table set forth below,
shall not be less than the percentage of the Term Redemption Amount for such
Series set forth below opposite such number of months (the &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Liquidity
Requirement</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#8221;), but in all cases subject to the provisions of</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> Section
2.11(c)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">below:</font></p>

<p style="margin-bottom:.0001pt;margin-left:77.95pt;margin-right:12.4pt;margin-top:.45pt;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<div align=center>

<table cellpadding=0 cellspacing=0 border=0 style="border:none;border-collapse:collapse;width:270.000000pt;">
 <tr style="height:53.35pt;">
  <td valign=top width=50% style="border:solid black 1.0pt;height:53.35pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:4.95pt;margin-right:4.35pt;margin-top:0in;text-align:center;text-indent:-.1pt;"><u><font face="Times New Roman" style="font-size:11.0pt;line-height:normal;">Number of Months</font></u><font face="Times New Roman" style="font-size:11.0pt;line-height:normal;"> </font><u><font face="Times New Roman" style="font-size:11.0pt;line-height:normal;">Preceding
  Month of Term</font></u><font face="Times New Roman" style="font-size:11.0pt;line-height:normal;"> </font><u><font face="Times New Roman" style="font-size:11.0pt;line-height:normal;">Redemption Date</font></u></p>
  </td>
 <td valign=top width=50% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;border-top:solid black 1.0pt;height:53.35pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:2.4pt;margin-right:1.1pt;margin-top:0in;text-indent:5.15pt;"><u><font face="Times New Roman" style="font-size:11.0pt;line-height:normal;">Market Value of Deposit</font></u><font face="Times New Roman" style="font-size:11.0pt;line-height:normal;"> </font><u><font face="Times New Roman" style="font-size:11.0pt;line-height:normal;">Securities as Percentage of</font></u><font face="Times New Roman" style="font-size:11.0pt;line-height:normal;"> </font><u><font face="Times New Roman" style="font-size:11.0pt;line-height:normal;">Term
  Redemption Amount</font></u></p>
  </td>
 </tr>
<tr style="height:13.8pt;">
  <td valign=top width=50% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:13.8pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.35pt;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.85pt;">5</font></p>
  </td>
 <td valign=top width=50% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.8pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:52.45pt;margin-right:52.05pt;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.85pt;">20%</font></p>
  </td>
 </tr>
<tr style="height:13.75pt;">
  <td valign=top width=50% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.35pt;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">4</font></p>
  </td>
 <td valign=top width=50% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:52.45pt;margin-right:52.05pt;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">40%</font></p>
  </td>
 </tr>
<tr style="height:13.75pt;">
  <td valign=top width=50% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.35pt;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">3</font></p>
  </td>
 <td valign=top width=50% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:52.45pt;margin-right:52.05pt;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">60%</font></p>
  </td>
 </tr>
<tr style="height:13.8pt;">
  <td valign=top width=50% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:13.8pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.35pt;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.85pt;">2</font></p>
  </td>
 <td valign=top width=50% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.8pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:52.45pt;margin-right:52.05pt;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.85pt;">80%</font></p>
  </td>
 </tr>
<tr style="height:13.75pt;">
  <td valign=top width=50% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.35pt;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">1</font></p>
  </td>
 <td valign=top width=50% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:13.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:52.45pt;margin-right:52.05pt;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;line-height:12.8pt;">100%</font></p>
  </td>
 </tr>
</table>

</div>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:8.05pt;margin-top:4.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">To
the extent the Trust enters into a binding commitment to sell certain of its
Liquidity Account Investments already held in the Term Redemption Liquidity
Account in order to comply with</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.85pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">the
Liquidity Requirement on a given date as set forth in the table above (any such
date, a &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Compliance Date</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;),&#160; the Trust may include the sale price of
such Liquidity Account Investments for purposes of determining the Market Value
of Deposit Securities in the Term Redemption Liquidity Account even if the
settlement date with respect to such sale occurs after the Compliance Date so
long as (i) the trade date with respect to such sale occurs on or prior to such
Compliance Date and (ii) the expected settlement date with respect to such sale
is not more than twenty (20) days from the trade date (the date that is twenty
(20) days from the trade date, the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Settlement Deadline Date</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;). If any
such sale does not settle on or prior to its Settlement Deadline Date, the sale
price of the applicable Liquidity Account Investments shall not be included in
determining the Market Value of Deposit Securities in the Term Redemption
Liquidity Account on or after 5:30 pm. (New York City time) on the Settlement
Deadline Date for purposes of </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.10(b)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> or</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(c)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:12.55pt;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(c)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">If the aggregate Market Value of the Deposit Securities included
in the Term Redemption Liquidity Account for a Series of VRTP Shares as of the
close of business on any Business Day is less than the Liquidity Requirement in
respect of such Series for such Business Day, then the </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Trust
shall cause the segregation of additional or substitute Deposit Securities in
respect of the Term Redemption Liquidity Account for such Series, so that the
aggregate Market Value of the Deposit Securities included in the Term Redemption
Liquidity Account for such Series is at least equal to the Liquidity
Requirement for such Series not later than the close of business on the next
succeeding Business</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.55pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Day.</font></p>
<a name="_bclFooter54"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">36</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_55"></a><a name="_bclPageBorder55"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">


<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.05pt;margin-top:.05pt;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(d)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">The Deposit Securities included in the Term Redemption Liquidity
Account for a Series of VRTP Shares may be applied by the Trust, in its
discretion, towards payment of the Term Redemption Price for such Series as
contemplated by </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(e)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. Upon the deposit by the Trust with the
Redemption and Paying Agent of Deposit Securities having an initial combined
Market Value sufficient to effect the redemption of VRTP Shares of a Series on
the Term Redemption Date for such Series in accordance with </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section
2.5(e)(ii)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, the requirement of the Trust to maintain the Term Redemption
Liquidity Account as contemplated by this</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.45pt;"> </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section</font></u></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:7.95pt;margin-top:0in;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2.10</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">shall lapse and be of
no further force and effect. Upon any extension of the Term Redemption Date for
a Series of VRTP Shares pursuant to </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(a)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, the then-current
Liquidity Account Initial Date for such Series shall be extended as provided in
the Appendix hereto relating to such Series, and the requirement of the Trust
to maintain the Term</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.7pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Redemption</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:13.4pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Liquidity
Account with respect to such Series in connection with such Liquidity Account
Initial Date shall lapse and shall thereafter apply in respect of the Liquidity
Account Initial Date for such Series as so extended.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:78.0pt;margin-right:0in;margin-top:.05pt;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2.11</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Global Shares</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:12.95pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Unless the Board of Trustees
determines otherwise, the VRTP Shares will be issued in book-entry form as
global securities. Such global securities will be deposited with, or on behalf
of, the Depository Trust Company and registered in the name of Cede &amp; Co.,
its nominee.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:43.4pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Beneficial
interests in the global securities will be held only through the Depositary
Trust Company and any of its participants.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2.12</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Notice</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.85pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">All notices or communications
hereunder, unless otherwise specified in this Amendment, shall be sufficiently
given if in writing and delivered in person, by telecopier, by other Electronic
Means or by overnight delivery. Notices delivered pursuant to this </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section
2.12</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> shall be deemed given on the date received. Notices given by
Electronic Means to the Redemption and Paying Agent and the Custodian shall be
sent by such means to their representatives set forth in the Redemption and
Paying Agent Agreement and the Custodian Agreement, respectively.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-36.05pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2.13</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Termination</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:7.75pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Except as provided in any relevant
Appendix hereto, in the event that no VRTP Shares of a Series are Outstanding,
all rights and preferences of the VRTP Shares of such Series established and
designated hereunder shall cease and terminate, and all obligations of the
Trust under this Amendment with respect such Series shall terminate, other than
in respect of the payment of and the right to receive the Redemption Price in
accordance with </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> of this Amendment.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2.14</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Appendices</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:15.75pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The designation of each Series of
VRTP Shares shall be set forth in an Appendix to this Amendment. The Board of
Trustees may, by resolution duly adopted, without shareholder approval (except
as otherwise provided by this Amendment or required by applicable law)</font></p>


<a name="_bclFooter55"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">37</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_56"></a><a name="_bclPageBorder56"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:7.15pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(x) amend the Appendix to this
Amendment relating to a Series so as to reflect any amendments to the terms
applicable to such Series including an increase in the number of authorized
shares of such Series and (y) add additional Series of VRTP Shares by including
a new Appendix to this Amendment relating to such Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:78.0pt;margin-right:27.2pt;margin-top:3.8pt;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2.15</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Actions on Other than Business Days</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">. Unless otherwise provided
herein, if the date for making any payment, performing any act or exercising
any right, in each case as provided for in this Amendment, is not a Business
Day, such payment shall be made, act performed or right exercised on the next
succeeding Business Day, with the same force and effect as if made or done on
the nominal date provided therefor, and, with respect to any payment so made,
no dividends, interest or other amount shall accrue for the period between such
nominal date and the date of</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">payment.</font></p>

<p style="margin-bottom:.0001pt;margin-left:78.0pt;margin-right:27.2pt;margin-top:3.8pt;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2.16</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Modification</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:12.5pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">To the extent permitted by
applicable law, the Board of Trustees, without the vote of the Holders of the
VRTP Shares, may interpret or amend the provisions of this Amendment or any
Appendix hereto to resolve any inconsistency or ambiguity or to remedy any
defect in connection therewith, in each case above, so long as any such interpretation
or amendment does not materially and adversely affect any preference, right or
power of the VRTP Shares or of the Holders thereof and, in addition to
amendments permitted by </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(h)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> and </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">2.6(c)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> hereof, may
amend this Amendment with respect to any Series of VRTP Shares prior to the
issuance of VRTP Shares of such Series</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:78.0pt;margin-right:0in;margin-top:.05pt;text-indent:-36.05pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2.17</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Transfers of VRTP</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Shares</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:5.95pt;margin-right:10.6pt;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(a)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">A Designated Owner or Holder of any VRTP Shares may sell,
transfer or otherwise dispose of VRTP Shares only in whole shares and only to
(i) Persons that such Designated Owner or Holder reasonably believes are
&#8220;qualified institutional buyers&#8221; (as defined in Rule 144A under the Securities
Act or any successor provision) that are banks, insurance companies or
registered open-end management investment companies, in each case, pursuant to
Rule 144A or another available exemption from registration under the Securities
Act, in a manner not involving any public offering within the meaning of
Section 4(a)(2) of the Securities Act, (ii) Citibank, any commercial paper
conduit which is a Person administered by Citibank (including any Conduit
Purchaser) or an affiliate of any of the foregoing, in each case, that such
Designated Owner or Holder reasonably believes to be a &#8220;qualified institutional
buyer&#8221; (as defined in Rule 144A under the Securities Act or any successor
provision) pursuant to Rule 144A or another available exemption from
registration under the Securities Act, in a manner not involving any public
offering within the meaning of Section 4(a)(2) of the Securities Act or (iii)
other investors with the prior written consent of the Trust. The restrictions
on transfer contained in this </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Section 2.17(a)</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> shall not apply to any
VRTP Shares that are being registered and sold pursuant to an effective
registration statement under the Securities Act or to any subsequent transfer
of such VRTP</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:6.0pt;margin-right:12.35pt;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">(b)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.15pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">If at any time the Trust is not furnishing information pursuant
to Section 13 or 15(d) of the Exchange Act, in order to preserve the exemption
for resales and transfers under Rule 144A, the Trust shall furnish, or cause to
be furnished, to Holders of VRTP Shares and prospective purchasers of VRTP
Shares, upon request, information with respect to the</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-1.5pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Trust satisfying the requirements of subsection (d)(4) of Rule</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.45pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">144A.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2.18</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Agreed Tax</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Treatment</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


<a name="_bclFooter56"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">38</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_57"></a><a name="_bclPageBorder57"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.2pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The
Trust shall, and each Holder and Designated Owner of any VRTP Shares, by virtue
of acquiring VRTP Shares, shall be deemed to have agreed to, treat the VRTP
Shares as equity in the Trust for U.S. federal, state and local income and
other tax purposes, applicable state law and the 1940 Act.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-36.05pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2.19</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">No Additional Rights</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:29.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Unless otherwise required by law or
the Declaration of Trust, the Holders of VRTP Shares shall not have any
relative rights or preferences or other special rights with respect to such
VRTP Shares other than those specifically set forth in this Amendment; </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">provided</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">,
</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">however</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">, that nothing in this Amendment shall be deemed to preclude or
limit the right of the Trust (to the extent permitted by applicable law) to
contractually agree with any Holder, Designated Owner or Specified Holder of
VRTP Shares of any Series with regard to any special rights of such Holder,
Designated Owner or Specified Holder with respect to its investment in the
Trust.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:78.0pt;margin-right:0in;margin-top:.05pt;text-indent:-36.05pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2.20</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Relationship of Declaration of</font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;"> </font></u><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Trust</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.75pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">This Amendment is being entered
into pursuant to Section 5.1 of Article VII of the Declaration of Trust and
shall be considered part of the governing instrument of the Trust. As provided
in such Section of the Declaration of Trust, to the extent the provisions set
forth in this Amendment conflict with the provisions of the Declaration of
Trust with respect to any such rights, powers and privileges of the VRTP
Shares, this Amendment shall control. Except as contemplated by the immediately
preceding sentence, the VRTP Shares, and the Holders thereof, shall otherwise
be subject to, bound by and entitled to the benefits of the Declaration of
Trust and its provisions relating to Shares and Shareholders. In connection
with the entering into of this Amendment and with respect to all matters
related in any way to this Amendment, the Trustees shall be entitled to all of
the benefits, rights, protections, indemnities, limitations of liability and
other provisions of the Declaration of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.4pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Trust</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-36.05pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2.21</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">The Agent</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:8.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The Agent may, upon thirty (30) days&#8217;
notice to the Trust and the Holders of the VRTP Shares, resign as Agent. If the
Agent shall resign, then the Majority Holders shall appoint a successor agent.
If for any reason a successor agent is not so appointed and does not accept
such appointment during such thirty (30) day period, the Agent may appoint a
successor agent. Any resignation of the Agent shall be effective upon the
appointment of a successor agent pursuant to this </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.21</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> and the
acceptance of such appointment by such successor.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:8.2pt;margin-right:0in;margin-top:4.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>








<h1 align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:5.85pt;margin-top:3.95pt;page-break-after:avoid;text-align:right;">&nbsp;</h1>
<a name="_bclFooter57"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">39</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_58"></a><a name="_bclPageBorder58"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<h1 align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:5.85pt;margin-top:3.95pt;page-break-after:avoid;text-align:right;"><font color=gray face="NewsGoth Dm BT,sans-serif" style="font-size:11.0pt;font-weight:normal;">APPENDIX A</font></h1>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:57.85pt;margin-right:57.9pt;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">EATON
VANCE FLOATING RATE-INCOME TRUST</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:57.85pt;margin-right:57.9pt;margin-top:4.5pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">VARIABLE
RATE TERM PREFERRED SHARES, SERIES C-1</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Preliminary
Statement and Incorporation By Reference</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:16.8pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">This Appendix establishes a Series
of Variable Rate Term Preferred Shares of Eaton Vance Floating-Rate Income
Trust. Except as set forth below, this Appendix incorporates by reference the
terms set forth with respect to all Series of such Variable Rate Term Preferred
Shares in that &#8220;Amendment No. X to the By-Laws of Eaton Vance Floating-Rate
Income Trust Establishing and Fixing the Rights and Preferences of Variable
Rate Term Preferred Shares&#8221; dated December 18, 2012 (the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">VRTP Amendment</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;).
This Appendix has been adopted by resolution of the Board of Trustees of Eaton
Vance Floating-Rate Income Trust. Capitalized terms used herein but not defined
herein have the respective meanings set forth in the VRTP Amendment.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Designation of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.0pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Variable Rate Term Preferred
Shares, Series C-1: A series of up to eight-hundred (800) Preferred Shares
classified as Variable Rate Term Preferred Shares is hereby designated as
&#8220;Series C-1 Variable Rate Term Preferred Shares&#8221; (the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series C-1 VRTP
Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;). Each Series C-1 VRTP Share shall have such preferences, voting
powers, restrictions, limitations as to dividends and other distributions,
qualifications and terms and conditions of redemption, in addition to those
required by applicable law and those that are expressly set forth in the
Declaration of Trust and the VRTP Amendment (except as the VRTP Amendment may
be expressly modified by this Appendix), as are set forth in this Appendix A.
The Series C-1 VRTP Shares shall constitute a separate series of Preferred
Shares and of the Variable Rate Term Preferred Shares and each Series C-1 VRTP
Share shall be identical. The following terms and conditions shall apply solely
to the Series C-1 VRTP Shares:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Number of Authorized Shares of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:10.5pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The number of authorized Series C-1
VRTP Shares at any time is eight-hundred (800) </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">minus</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> the aggregate
number of VRTP Shares of each other Specified Series Outstanding at such time.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:4.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Issuance Date of Shares of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The &#8220;Issuance Date&#8221; for each Series
C-1 VRTP Share issued on December 18, 2012 is December 18, 2012 and, with
respect to each Series C-1 VRTP Share issued subsequent to December 18, 2012,
the &#8220;Issuance Date&#8221; for such Series C-1 VRTP Share will be deemed to be the
date that a VRTP Share of any other Specified Series is exchanged for such
Series C-1 VRTP Share.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:4.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Liquidation Preference
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>









<a name="_bclFooter58"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">40</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_59"></a><a name="_bclPageBorder59"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:149.25pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">The
Liquidation Preference is $100,000.00 per share. Section 5. Term Redemption
Date Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.35pt;line-height:186%;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:35.75pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The Term Redemption Date is
December 18, 2015, subject to extension pursuant to </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> of
the VRTP Amendment.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Dividend Payment Dates
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:.15in;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The Dividend Payment Date is the
date that is two (2) Business Days after the last calendar day of each Dividend
Period; provided, that all accrued but unpaid dividends on any Series C-1 VRTP
Share that has been transferred by CHARTA shall be payable to CHARTA on the
second Business Day after the related Transfer Date.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Liquidity Account Initial Date
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:15.35pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The Liquidity Account Initial Date
is June 18, 2015 or, if applicable, the date that is six months prior to the
Term Redemption Date as extended pursuant to </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> of the VRTP
Amendment or, in each case, if such date is not a Business Day, the Business
Day immediately preceding such date.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Exceptions to Certain
Definitions Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:44.4pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The following definitions contained
under the heading &#8220;Definitions&#8221; in the VRTP Amendment are hereby amended as
follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Not
applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Additional Definitions
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:8.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The following terms shall have the
following meanings (with terms defined in the singular having comparable
meanings when used in the plural and vice versa), unless the context otherwise
requires:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Dividend Period&#8221; means, with
respect to each Outstanding Series C-1 VRTP Share, in the case of the first
Dividend Period following the Issuance Date of such VRTP Share, the period
beginning on (and including) such Issuance Date and ending on (and including)
the last calendar day of the month in which such Issuance Date occurs and, for
each subsequent Dividend Period, the period beginning on (and including) the
first calendar day of the month following the month in which the previous
Dividend Period ended and ending on (and including) the last calendar day of
such month.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:10.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Index Rate&#8221; means, for each day
during a Dividend Period and solely with respect to any Series C-1 VRTP Shares
Outstanding on such day, the per annum rate equivalent to the weighted average
of the per annum rates paid or payable by CHARTA from time to time as interest
on or otherwise (by means of interest rate hedges or otherwise) in respect of
those commercial paper notes issued by CHARTA that are allocated, in whole or
in part, by the Agent (on behalf of CHARTA) to fund or maintain the investment
by CHARTA in the Series C-1</font></p>









<a name="_bclFooter59"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">41</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_60"></a><a name="_bclPageBorder60"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:5.75pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">VRTP Shares Outstanding on such
day, as determined by the Agent (on behalf of CHARTA) and reported to the
Trust, which rates shall reflect and give effect to the commissions of
placement agents and dealers in respect of such commercial paper notes, to the
extent such commissions are allocated, in whole or in part, to such commercial
paper notes by the Agent (on behalf of CHARTA); provided, however, that if any
component of such rate is a discount rate, in calculating the &#8220;Index Rate&#8221; for
such day, the Agent shall for such component use the rate resulting from
converting such discount rate to an interest bearing equivalent rate per annum.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:42.1pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Transfer Date&#8221; means, with respect
to any Series C-1 VRTP Share transferred by CHARTA, the settlement date for the
transfer of such VRTP Share.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">10.&#160;&#160;&#160;&#160;&#160;&#160; Amendments to Terms of VRTP
Shares Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:21.05pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The following provisions contained
under the heading &#8220;Terms of the VRTP Shares&#8221; in the VRTP Amendment are hereby
amended as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Reporting of Index Rate and Dividend</font></u><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.75pt;"> </font></u><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Rate</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:10.15pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">With respect to any Outstanding Series
C-1 VRTP Shares, the Agent shall determine in accordance with the terms hereof
the applicable Dividend Rate for such Series for each day in a Dividend Period
and shall provide notice thereof to the Trust and the Redemption and Paying
Agent by 3:00 p.m. (New York City time) on such day. Such notice shall set
forth the Index Rate and the Applicable Spread (which may be the Applicable
Spread for the Increased Rate, if applicable) used in connection with the
calculation of the Dividend Rate for such Series. Each determination of the
Dividend Rate for such Series by the Agent shall be conclusive and binding for
all purposes on the Trust, absent manifest</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">error.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfers to Persons other than Conduit Purchasers</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:18.15pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-1 VRTP
Shares by CHARTA to any Person that (x) is not a Conduit Purchaser and (y) is a
member bank of the Federal Reserve System (or any successor) (or is otherwise
subject to Regulation D of the Board of Governors of the Federal Reserve
System) shall result in such Series C-1 VRTP Shares being exchanged for an
equal number of Series L-1 VRTP Shares. The Series L-1 VRTP Shares shall have
preferences, voting powers, restrictions, limitations as to dividends and other
distributions, qualifications and terms and conditions of redemption, in
addition to those required by applicable law and those that are expressly set
forth in the Declaration of Trust and the VRTP Amendment (except as the VRTP
Amendment may be expressly modified by Appendix E), as are set forth in
Appendix</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.25pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">E.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.95pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-1 VRTP
Shares by CHARTA to any Person that (x) is not a Conduit Purchaser and (y) is
not a member bank of the Federal Reserve System (or any successor) (or is not
otherwise subject to Regulation D of the Board of Governors of the Federal
Reserve System) shall result in such Series C-1 VRTP Shares being exchanged for
an equal number of Series L-2 VRTP Shares. The Series L-2 VRTP Shares shall
have preferences, voting powers, restrictions, limitations as to dividends and
other distributions, qualifications and terms and conditions of redemption, in
addition to those required by applicable law and those that are expressly set
forth in the Declaration of Trust and the VRTP Amendment (except as the VRTP
Amendment may be expressly modified by Appendix F), as are set forth in
Appendix</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">F.</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">42</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_61"></a><a name="_bclPageBorder61"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:3.8pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfers to other Conduit
Purchasers</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:5.95pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-1 VRTP
Shares by CHARTA to CAFCO shall result in such Series C-1 VRTP Shares being
exchanged for an equal number of Series C-2 VRTP Shares. The Series C-2 VRTP
Shares shall have preferences, voting powers, restrictions, limitations as to
dividends and other distributions, qualifications and terms and conditions of
redemption, in addition to those required by applicable law and those that are
expressly set forth in the Declaration of Trust and the VRTP Amendment (except
as the VRTP Amendment may be expressly modified by Appendix B), as are set
forth in Appendix B.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:5.95pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-1 VRTP
Shares by CHARTA to CIESCO shall result in such Series C-1 VRTP Shares being
exchanged for an equal number of Series C-3 VRTP Shares. The Series C-3 VRTP
Shares shall have preferences, voting powers, restrictions, limitations as to
dividends and other distributions, qualifications and terms and conditions of
redemption, in addition to those required by applicable law and those that are
expressly set forth in the Declaration of Trust and the VRTP Amendment (except
as the VRTP Amendment may be expressly modified by the Appendix C), as are set
forth in Appendix C.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:8.25pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-1 VRTP
Shares by CHARTA to CRC shall result in such Series C-1 VRTP Shares being
exchanged for an equal number of Series C-4 VRTP Shares. The Series C-4 VRTP
Shares shall have preferences, voting powers, restrictions, limitations as to
dividends and other distributions, qualifications and terms and conditions of
redemption, in addition to those required by applicable law and those that are
expressly set forth in the Declaration of Trust and the VRTP Amendment (except
as the VRTP Amendment may be expressly modified by the Appendix D), as are set
forth in Appendix D.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfers In General</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:11.05pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-1 VRTP
Shares by CHARTA shall require delivery of a written notice to the Trust and
the Redemption and Paying Agent by CHARTA (which may be given at or prior to
3:00 p.m. (New York City time) on the related Transfer Date) providing the
Transfer Date, the transferee, the amount of Series C-1 VRTP Shares being
transferred and the amount and applicable Series of VRTP Shares being exchanged
for such Series C-1 VRTP Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.15pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">As of any Transfer Date, without
any requirement for any further approval by the Board of Trustees or any other
Person (but subject to the transfer restrictions set forth in Section 2.17),
the Trust shall be deemed to have cancelled and reduced the authorized number
of Series C-1 VRTP Shares in an amount equal to the corresponding number of
other Series of VRTP Shares exchanged for Series C-1 VRTP Shares on such
Transfer Date, provided that the aggregate number of VRTP Shares Outstanding at
any time shall not exceed eight-hundred (800).&#160; As of the settlement date for
the transfer of any other Series of VRTP Shares to CHARTA, without</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-1.55pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">any requirement for any further approval
by the Board of Trustees or any other Person, the Trust shall be deemed to have
increased the authorized number of and issued Series C-1 VRTP Shares in an
amount equal to the corresponding number of other Series of VRTP Shares being
exchanged for Series C-1 VRTP Shares, provided that the aggregate number of
VRTP Shares Outstanding at any time shall not exceed eight-hundred</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.45pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(800).</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">43</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_62"></a><a name="_bclPageBorder62"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:11.7pt;margin-top:3.8pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Notwithstanding
anything to the contrary in the VRTP Amendment or in any Appendix, accrued but
unpaid dividends on any Series C-1 VRTP Shares that have been exchanged for any
other Specified Series of VRTP Shares shall be payable by the Trust to CHARTA
on the second Business Day after the related Transfer Date notwithstanding that
such Series C-1 VRTP Shares have been deemed cancelled pursuant to the
preceding paragraph.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:10.75pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">If the VRTP Shares of the Specified
Series are required to be redeemed pursuant to the VRTP Amendment or any
Appendix, the Trust shall only be required to redeem Outstanding VRTP Shares of
the Specified Series. If the Outstanding VRTP Shares of any Specified Series
are redeemed, the number of authorized shares of each Specified Series and the
permitted maximum aggregate number of Outstanding VRTP Shares of all Specified
Series shall be deemed reduced by the same number of VRTP Shares being
redeemed.</font></p>








<h1 align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:5.85pt;margin-top:3.95pt;page-break-after:avoid;text-align:right;">&nbsp;</h1>
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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">44</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_63"></a><a name="_bclPageBorder63"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<h1 align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:5.85pt;margin-top:3.95pt;page-break-after:avoid;text-align:right;"><font color=gray face="NewsGoth Dm BT,sans-serif" style="font-size:11.0pt;font-weight:normal;">APPENDIX B</font></h1>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:57.85pt;margin-right:57.9pt;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">EATON
VANCE FLOATING RATE-INCOME TRUST</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:57.85pt;margin-right:57.9pt;margin-top:4.5pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">VARIABLE
RATE TERM PREFERRED SHARES, SERIES C-2</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Preliminary
Statement and Incorporation By Reference</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:16.8pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">This Appendix establishes a Series
of Variable Rate Term Preferred Shares of Eaton Vance Floating-Rate Income
Trust. Except as set forth below, this Appendix incorporates by reference the
terms set forth with respect to all Series of such Variable Rate Term Preferred
Shares in that &#8220;Amendment No. X to the By-Laws of Eaton Vance Floating-Rate
Income Trust Establishing and Fixing the Rights and Preferences of Variable
Rate Term Preferred Shares&#8221; dated December 18, 2012 (the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">VRTP Amendment</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;).
This Appendix has been adopted by resolution of the Board of Trustees of Eaton
Vance Floating-Rate Income Trust. Capitalized terms used herein but not defined
herein have the respective meanings set forth in the VRTP Amendment.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Designation of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.65pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Variable Rate Term Preferred
Shares, Series C-2: A series of up to eight-hundred (800) Preferred Shares
classified as Variable Rate Term Preferred Shares is hereby designated as
&#8220;Series C-2 Variable Rate Term Preferred Shares&#8221; (the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series C-2 VRTP
Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;). Each Series C-2 VRTP Share shall have such preferences, voting
powers, restrictions, limitations as to dividends and other distributions,
qualifications and terms and conditions of redemption, in addition to those
required by applicable law and those that are expressly set forth in the
Declaration of Trust and the VRTP Amendment (except as the VRTP Amendment may
be expressly modified by this Appendix), as are set forth in this Appendix B.
The Series C-2 VRTP Shares shall constitute a separate series of Preferred
Shares and of the Variable Rate Term Preferred Shares and each Series C-2 VRTP
Share shall be identical. The following terms and conditions shall apply solely
to the Series C-2 VRTP Shares:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Number of Authorized Shares of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:10.5pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The number of authorized Series C-2
VRTP Shares at any time is eight-hundred (800) </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">minus</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> the aggregate
number of VRTP Shares of each other Specified Series Outstanding at such time.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:4.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Issuance Date of Shares of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:5.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The &#8220;Issuance Date&#8221; for each Series
C-2 VRTP Share will be deemed to be the date that a VRTP Share of any other
Specified Series is exchanged for such Series C-2 VRTP Share.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:152.2pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;line-height:186%;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Liquidation Preference Applicable to Series. The
Liquidation Preference is $100,000.00 per</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;line-height:186%;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">share.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Term Redemption Date
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">45</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_64"></a><a name="_bclPageBorder64"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:35.75pt;margin-top:3.8pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The
Term Redemption Date is December 18, 2015, subject to extension pursuant to </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section
2.5(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> of the VRTP Amendment.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Dividend Payment Dates Applicable
to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:11.75pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The Dividend Payment Date is the
date that is two (2) Business Days after the last calendar day of each Dividend
Period; provided, that all accrued but unpaid dividends on any Series C-2 VRTP
Share that has been transferred by CAFCO shall be payable to CAFCO on the
second Business Day after the related Transfer Date.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Liquidity Account Initial Date
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:15.35pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The Liquidity Account Initial Date
is June 18, 2015 or, if applicable, the date that is six months prior to the
Term Redemption Date as extended pursuant to </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> of the VRTP
Amendment or, in each case, if such date is not a Business Day, the Business
Day immediately preceding such date.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Exceptions to Certain
Definitions Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:44.4pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The following definitions contained
under the heading &#8220;Definitions&#8221; in the VRTP Amendment are hereby amended as
follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Not
applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Additional Definitions
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:8.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The following terms shall have the
following meanings (with terms defined in the singular having comparable
meanings when used in the plural and vice versa), unless the context otherwise
requires:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Dividend Period&#8221; means, with
respect to each Outstanding Series C-2 VRTP Share, in the case of the first
Dividend Period following the Issuance Date of such VRTP Share, the period
beginning on (and including) such Issuance Date and ending on (and including)
the last calendar day of the month in which such Issuance Date occurs and, for
each subsequent Dividend Period, the period beginning on (and including) the
first calendar day of the month following the month in which the previous
Dividend Period ended and ending on (and including) the last calendar day of
such month.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.55pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Index Rate&#8221; means, for each day
during a Dividend Period and solely with respect to any Series C-2 VRTP Shares
Outstanding on such day, the per annum rate equivalent to the weighted average
of the per annum rates paid or payable by CAFCO from time to time as interest
on or otherwise (by means of interest rate hedges or otherwise) in respect of
those commercial paper notes issued by CAFCO that are allocated, in whole or in
part, by the Agent (on behalf of CAFCO) to fund or maintain the investment by
CAFCO in the Series C-2 VRTP Shares Outstanding on such day, as determined by
the Agent (on behalf of CAFCO) and reported to the Trust, which rates shall
reflect and give effect to the commissions of placement agents and dealers in
respect of such commercial paper notes, to the extent such commissions are
allocated, in whole or in part, to such commercial paper notes by the Agent (on
behalf of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.45pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">CAFCO);</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">46</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_65"></a><a name="_bclPageBorder65"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:41.3pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">provided, however, that if any
component of such rate is a discount rate, in calculating the &#8220;Index Rate&#8221; for
such day, the Agent shall for such component use the rate resulting from
converting such discount rate to an interest bearing equivalent rate per annum.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:42.1pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Transfer Date&#8221; means, with respect
to any Series C-2 VRTP Share transferred by CAFCO, the settlement date for the
transfer of such VRTP Share.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">10.&#160;&#160;&#160;&#160;&#160;&#160; Amendments to Terms of VRTP
Shares Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:21.05pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The following provisions contained
under the heading &#8220;Terms of the VRTP Shares&#8221; in the VRTP Amendment are hereby
amended as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Reporting of Index Rate and Dividend</font></u><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.75pt;"> </font></u><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Rate</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:10.15pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">With respect to any Outstanding
Series C-2 VRTP Shares, the Agent shall determine in accordance with the terms
hereof the applicable Dividend Rate for such Series for each day in a Dividend
Period and shall provide notice thereof to the Trust and the Redemption and
Paying Agent by 3:00 p.m. (New York City time) on such day. Such notice shall
set forth the Index Rate and the Applicable Spread (which may be the Applicable
Spread for the Increased Rate, if applicable) used in connection with the
calculation of the Dividend Rate for such Series. Each determination of the
Dividend Rate for such Series by the Agent shall be conclusive and binding for
all purposes on the Trust, absent manifest</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">error.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfers to Persons other than Conduit Purchasers</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:18.15pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-2 VRTP
Shares by CAFCO to any Person that (x) is not a Conduit Purchaser and (y) is a
member bank of the Federal Reserve System (or any successor) (or is otherwise
subject to Regulation D of the Board of Governors of the Federal Reserve
System) shall result in such Series C-2 VRTP Shares being exchanged for an
equal number of Series L-1 VRTP Shares. The Series L-1 VRTP Shares shall have
preferences, voting powers, restrictions, limitations as to dividends and other
distributions, qualifications and terms and conditions of redemption, in
addition to those required by applicable law and those that are expressly set forth
in the Declaration of Trust and the VRTP Amendment (except as the VRTP
Amendment may be expressly modified by Appendix E), as are set forth in
Appendix</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.25pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">E.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.95pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-2 VRTP
Shares by CAFCO to any Person that (x) is not a Conduit Purchaser and (y) is
not a member bank of the Federal Reserve System (or any successor) (or is not
otherwise subject to Regulation D of the Board of Governors of the Federal
Reserve System) shall result in such Series C-2 VRTP Shares being exchanged for
an equal number of Series L-2 VRTP Shares. The Series L-2 VRTP Shares shall
have preferences, voting powers, restrictions, limitations as to dividends and
other distributions, qualifications and terms and conditions of redemption, in
addition to those required by applicable law and those that are expressly set
forth in the Declaration of Trust and the VRTP Amendment (except as the VRTP
Amendment may be expressly modified by Appendix F), as are set forth in
Appendix</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">F.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfers to other Conduit Purchasers</font></u></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">47</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_66"></a><a name="_bclPageBorder66"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.95pt;margin-top:3.8pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any
transfer of Series C-2 VRTP Shares by CAFCO to CHARTA shall result in such
Series C-2 VRTP Shares being exchanged for an equal number of Series C-1 VRTP
Shares. The Series C-1 VRTP Shares shall have preferences, voting powers,
restrictions, limitations as to dividends and other distributions,
qualifications and terms and conditions of redemption, in addition to those
required by applicable law and those that are expressly set forth in the
Declaration of Trust and the VRTP Amendment (except as the VRTP Amendment may
be expressly modified by Appendix A), as are set forth in Appendix A.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.95pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-2 VRTP
Shares by CAFCO to CIESCO shall result in such Series C-2 VRTP Shares being
exchanged for an equal number of Series C-3 VRTP Shares. The Series C-3 VRTP
Shares shall have preferences, voting powers, restrictions, limitations as to
dividends and other distributions, qualifications and terms and conditions of
redemption, in addition to those required by applicable law and those that are
expressly set forth in the Declaration of Trust and the VRTP Amendment (except
as the VRTP Amendment may be expressly modified by the Appendix C), as are set
forth in Appendix C.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any
transfer of Series C-2 VRTP Shares by CAFCO to CRC shall result in such Series</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.25pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">C-2
VRTP Shares being exchanged for an equal number of Series C-4 VRTP Shares. The
Series C-4 VRTP Shares shall have preferences, voting powers, restrictions,
limitations as to dividends and other distributions, qualifications and terms
and conditions of redemption, in addition to those required by applicable law
and those that are expressly set forth in the Declaration of Trust and the VRTP
Amendment (except as the VRTP Amendment may be expressly modified by the
Appendix D), as are set forth in Appendix D.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfers In General</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:10.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-2 VRTP
Shares by CAFCO shall require delivery of a written notice to the Trust and the
Redemption and Paying Agent by CAFCO (which may be given at or prior to 3:00
p.m. (New York City time) on the related Transfer Date) providing the Transfer
Date, the transferee, the amount of Series C-2 VRTP Shares being transferred
and the amount and applicable Series of VRTP Shares being exchanged for such
Series C-2 VRTP Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:11.0pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">As of any Transfer Date, without
any requirement for any further approval by the Board of Trustees or any other
Person (but subject to the transfer restrictions set forth in Section 2.17),
the Trust shall be deemed to have cancelled and reduced the authorized number
of Series C-2 VRTP Shares in an amount equal to the corresponding number of
other Series of VRTP Shares exchanged for Series C-2 VRTP Shares on such
Transfer Date, provided that the aggregate number of VRTP Shares Outstanding at
any time shall not exceed eight-hundred (800). As of the settlement date for
the transfer of any other Series of VRTP Shares to CAFCO, without any
requirement for any further approval by the Board of Trustees or any other
Person, the Trust shall be deemed to have increased the authorized number of
and issued Series C-2 VRTP Shares in an amount equal to the corresponding
number of other Series of VRTP Shares being exchanged for Series C-2 VRTP
Shares, provided that the aggregate number of VRTP Shares Outstanding at any
time shall not exceed eight-hundred</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.45pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(800).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:10.85pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Notwithstanding anything to the
contrary in the VRTP Amendment or in any Appendix, accrued but unpaid dividends
on any Series C-2 VRTP Shares that have been exchanged for any</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">48</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_67"></a><a name="_bclPageBorder67"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:11.85pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">other Specified Series of VRTP
Shares shall be payable by the Trust to CHARTA on the second Business Day after
the related Transfer Date notwithstanding that such Series C-2 VRTP Shares have
been deemed cancelled pursuant to the preceding paragraph.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:8.4pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">If the VRTP Shares of the Specified
Series are required to be redeemed pursuant to the VRTP Amendment or any
Appendix, the Trust shall only be required to redeem Outstanding VRTP Shares of
the Specified Series. If the Outstanding VRTP Shares of any Specified Series
are redeemed, the number of authorized shares of each Specified Series and the
permitted maximum aggregate number of Outstanding VRTP Shares of all Specified
Series permitted shall be deemed reduced by the same number of VRTP Shares
being redeemed.</font></p>








<h1 align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:5.85pt;margin-top:3.95pt;page-break-after:avoid;text-align:right;">&nbsp;</h1>
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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">49</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_68"></a><a name="_bclPageBorder68"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<h1 align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:5.85pt;margin-top:3.95pt;page-break-after:avoid;text-align:right;"><font color=gray face="NewsGoth Dm BT,sans-serif" style="font-size:11.0pt;font-weight:normal;">APPENDIX C</font></h1>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:57.85pt;margin-right:57.9pt;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">EATON
VANCE FLOATING RATE-INCOME TRUST</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:57.85pt;margin-right:57.9pt;margin-top:4.5pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">VARIABLE
RATE TERM PREFERRED SHARES, SERIES C-3</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Preliminary
Statement and Incorporation By Reference</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:16.8pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">This Appendix establishes a Series
of Variable Rate Term Preferred Shares of Eaton Vance Floating-Rate Income
Trust. Except as set forth below, this Appendix incorporates by reference the
terms set forth with respect to all Series of such Variable Rate Term Preferred
Shares in that &#8220;Amendment No. X to the By-Laws of Eaton Vance Floating-Rate
Income Trust Establishing and Fixing the Rights and Preferences of Variable
Rate Term Preferred Shares&#8221; dated December 18, 2012 (the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">VRTP Amendment</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;).
This Appendix has been adopted by resolution of the Board of Trustees of Eaton
Vance Floating-Rate Income Trust. Capitalized terms used herein but not defined
herein have the respective meanings set forth in the VRTP Amendment.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Designation of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.0pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Variable Rate Term Preferred
Shares, Series C-3: A series of up to eight-hundred (800) Preferred Shares
classified as Variable Rate Term Preferred Shares is hereby designated as
&#8220;Series C-3 Variable Rate Term Preferred Shares&#8221; (the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series C-3 VRTP
Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;). Each Series C-3 VRTP Share shall have such preferences, voting
powers, restrictions, limitations as to dividends and other distributions,
qualifications and terms and conditions of redemption, in addition to those
required by applicable law and those that are expressly set forth in the
Declaration of Trust and the VRTP Amendment (except as the VRTP Amendment may
be expressly modified by this Appendix), as are set forth in this Appendix A.
The Series C-3 VRTP Shares shall constitute a separate series of Preferred
Shares and of the Variable Rate Term Preferred Shares and each Series C-3 VRTP
Share shall be identical. The following terms and conditions shall apply solely
to the Series C-3 VRTP Shares:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Number of Authorized Shares of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:10.5pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The number of authorized Series C-3
VRTP Shares at any time is eight-hundred (800) </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">minus</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> the aggregate
number of VRTP Shares of each other Specified Series Outstanding at such time.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:4.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Issuance Date of Shares of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:5.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The &#8220;Issuance Date&#8221; for each Series
C-3 VRTP Share will be deemed to be the date that a VRTP Share of any other
Specified Series is exchanged for such Series C-3 VRTP Share.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:152.2pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;line-height:186%;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Liquidation Preference Applicable to Series. The
Liquidation Preference is $100,000.00 per</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;line-height:186%;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">share.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Term Redemption Date
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">50</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_69"></a><a name="_bclPageBorder69"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:35.75pt;margin-top:3.8pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The
Term Redemption Date is December 18, 2015, subject to extension pursuant to </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section
2.5(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> of the VRTP Amendment.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Dividend Payment Dates
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.45pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The Dividend Payment Date is the
date that is two (2) Business Days after the last calendar day of each Dividend
Period; provided, that all accrued but unpaid dividends on any Series C-3 VRTP
Share that has been transferred by CIESCO shall be payable to CIESCO on the
second Business Day after the related Transfer Date.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Liquidity Account Initial Date
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:15.35pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The Liquidity Account Initial Date
is June 18, 2015 or, if applicable, the date that is six months prior to the
Term Redemption Date as extended pursuant to </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> of the VRTP
Amendment or, in each case, if such date is not a Business Day, the Business
Day immediately preceding such date.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Exceptions to Certain
Definitions Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:44.4pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The following definitions contained
under the heading &#8220;Definitions&#8221; in the VRTP Amendment are hereby amended as
follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Not
applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Additional Definitions
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:8.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The following terms shall have the
following meanings (with terms defined in the singular having comparable
meanings when used in the plural and vice versa), unless the context otherwise
requires:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Dividend Period&#8221; means, with
respect to each Outstanding Series C-3 VRTP Share, in the case of the first
Dividend Period following the Issuance Date of such VRTP Share, the period
beginning on (and including) such Issuance Date and ending on (and including)
the last calendar day of the month in which such Issuance Date occurs and, for
each subsequent Dividend Period, the period beginning on (and including) the
first calendar day of the month following the month in which the previous
Dividend Period ended and ending on (and including) the last calendar day of such
month.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:7.25pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Index Rate&#8221; means, for each day
during a Dividend Period and solely with respect to any Series C-3 VRTP Shares
Outstanding on such day, the per annum rate equivalent to the weighted average
of the per annum rates paid or payable by CIESCO from time to time as interest
on or otherwise (by means of interest rate hedges or otherwise) in respect of
those commercial paper notes issued by CIESCO that are allocated, in whole or
in part, by the Agent (on behalf of CIESCO) to fund or maintain the investment
by CIESCO in the Series C-3 VRTP Shares Outstanding on such day, as determined
by the Agent (on behalf of CIESCO) and reported to the Trust, which rates shall
reflect and give effect to the commissions of placement agents and dealers in
respect of such commercial paper notes, to the extent such commissions are
allocated, in whole or in part, to such commercial paper notes by the Agent (on
behalf</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-1.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">of</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">51</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_70"></a><a name="_bclPageBorder70"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:5.1pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">CIESCO); provided, however, that if
any component of such rate is a discount rate, in calculating the &#8220;Index Rate&#8221;
for such day, the Agent shall for such component use the rate resulting from
converting such discount rate to an interest bearing equivalent rate per annum.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:42.1pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Transfer Date&#8221; means, with respect
to any Series C-3 VRTP Share transferred by CIESCO, the settlement date for the
transfer of such VRTP Share.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">10.&#160;&#160;&#160;&#160;&#160;&#160; Amendments to Terms of VRTP
Shares Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:21.05pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The following provisions contained
under the heading &#8220;Terms of the VRTP Shares&#8221; in the VRTP Amendment are hereby
amended as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Reporting of Index Rate and Dividend</font></u><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.75pt;"> </font></u><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Rate</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:10.15pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">With respect to any Outstanding
Series C-3 VRTP Shares, the Agent shall determine in accordance with the terms
hereof the applicable Dividend Rate for such Series for each day in a Dividend
Period and shall provide notice thereof to the Trust and the Redemption and
Paying Agent by 3:00 p.m. (New York City time) on such day. Such notice shall
set forth the Index Rate and the Applicable Spread (which may be the Applicable
Spread for the Increased Rate, if applicable) used in connection with the
calculation of the Dividend Rate for such Series. Each determination of the
Dividend Rate for such Series by the Agent shall be conclusive and binding for
all purposes on the Trust, absent manifest</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">error.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfers to Persons other than Conduit Purchasers</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.8pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-3 VRTP
Shares by CIESCO to any Person that (x) is not a Conduit Purchaser and (y) is a
member of the Federal Reserve System (or any successor) (or is otherwise
subject to Regulation D of the Board of Governors of the Federal Reserve
System) shall result in such Series C-3 VRTP Shares being exchanged for an
equal number of Series L-1 VRTP Shares. The Series L-1 VRTP Shares shall have
preferences, voting powers, restrictions, limitations as to dividends and other
distributions, qualifications and terms and conditions of redemption, in
addition to those required by applicable law and those that are expressly set
forth in the Declaration of Trust and the VRTP Amendment (except as the VRTP
Amendment may be expressly modified by Appendix E), as are set forth in
Appendix E.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:9.8pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-3 VRTP
Shares by CIESCO to any Person that (x) is not a Conduit Purchaser and (y) is
not a member of the Federal Reserve System (or any successor) (or is not
otherwise subject to Regulation D of the Board of Governors of the Federal
Reserve System) shall result in such Series C-3 VRTP Shares being exchanged for
an equal number of Series L-2 VRTP Shares. The Series L-2 VRTP Shares shall
have preferences, voting powers, restrictions, limitations as to dividends and
other distributions, qualifications and terms and conditions of redemption, in
addition to those required by applicable law and those that are expressly set
forth in the Declaration of Trust and the VRTP Amendment (except as the VRTP
Amendment may be expressly modified by Appendix F), as are set forth in
Appendix F.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfers to other Conduit Purchasers</font></u></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">52</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_71"></a><a name="_bclPageBorder71"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.95pt;margin-top:3.8pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any
transfer of Series C-3 VRTP Shares by CIESCO to CHARTA shall result in such
Series C-3 VRTP Shares being exchanged for an equal number of Series C-1 VRTP
Shares. The Series C-1 VRTP Shares shall have preferences, voting powers,
restrictions, limitations as to dividends and other distributions, qualifications
and terms and conditions of redemption, in addition to those required by
applicable law and those that are expressly set forth in the Declaration of
Trust and the VRTP Amendment (except as the VRTP Amendment may be expressly
modified by Appendix A), as are set forth in Appendix B.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.95pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-3 VRTP
Shares by CIESCO to CAFCO shall result in such Series C-3 VRTP Shares being
exchanged for an equal number of Series C-2 VRTP Shares. The Series C-2 VRTP
Shares shall have preferences, voting powers, restrictions, limitations as to
dividends and other distributions, qualifications and terms and conditions of
redemption, in addition to those required by applicable law and those that are
expressly set forth in the Declaration of Trust and the VRTP Amendment (except
as the VRTP Amendment may be expressly modified by the Appendix B), as are set
forth in Appendix B.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.25pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-3 VRTP
Shares by CIESCO to CRC shall result in such Series C-3 VRTP Shares being
exchanged for an equal number of Series C-4 VRTP Shares. The Series C-4 VRTP
Shares shall have preferences, voting powers, restrictions, limitations as to
dividends and other distributions, qualifications and terms and conditions of
redemption, in addition to those required by applicable law and those that are
expressly set forth in the Declaration of Trust and the VRTP Amendment (except
as the VRTP Amendment may be expressly modified by the Appendix D), as are set
forth in Appendix D.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfers In General</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-3 VRTP
Shares by CIESCO shall require delivery of a written notice to the Trust and
the Redemption and Paying Agent by CIESCO (which may be given at or prior to
3:00 p.m. (New York City time) on the related Transfer Date) providing the
Transfer Date, the transferee, the amount of Series C-3 VRTP Shares being
transferred and the amount and applicable Series of VRTP Shares being exchanged
for such Series C-3 VRTP Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:11.0pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">As of any Transfer Date, without
any requirement for any further approval by the Board of Trustees or any other
Person (but subject to the transfer restrictions set forth in Section 2.17),
the Trust shall be deemed to have cancelled and reduced the authorized number
of Series C-3 VRTP Shares in an amount equal to the corresponding number of
other Series of VRTP Shares exchanged for Series C-3 VRTP Shares on such
Transfer Date, provided that the aggregate number of VRTP Shares Outstanding at
any time shall not exceed eight-hundred (800). As of the settlement date for the
transfer of any other Series of VRTP Shares to CIESCO, without any requirement
for any further approval by the Board of Trustees or any other Person, the
Trust shall be deemed to have increased the authorized number of and issued
Series C-3 VRTP Shares in an amount equal to the corresponding number of other
Series of VRTP Shares being exchanged for Series C-3 VRTP Shares, provided that
the aggregate number of VRTP Shares Outstanding at any time shall not exceed
eight-hundred</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.45pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(800).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:10.85pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Notwithstanding anything to the
contrary in the VRTP Amendment or in any Appendix, accrued but unpaid dividends
on any Series C-3 VRTP Shares that have been exchanged for any</font></p>









<a name="_bclFooter71"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">53</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_72"></a><a name="_bclPageBorder72"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:11.4pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">other Specified Series of VRTP
Shares shall be payable by the Trust to CIESCO on the second Business Day after
the related Transfer Date notwithstanding that such Series C-3 VRTP Shares have
been deemed cancelled pursuant to the preceding paragraph.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:8.4pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">If the VRTP Shares of the Specified
Series are required to be redeemed pursuant to the VRTP Amendment or any
Appendix, the Trust shall only be required to redeem Outstanding VRTP Shares of
the Specified Series. If the Outstanding VRTP Shares of any Specified Series
are redeemed, the number of authorized shares of each Specified Series and the
permitted maximum aggregate number of Outstanding VRTP Shares of all Specified
Series permitted shall be deemed reduced by the same number of VRTP Shares
being redeemed.</font></p>








<h1 align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:5.85pt;margin-top:3.95pt;page-break-after:avoid;text-align:right;">&nbsp;</h1>
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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">54</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_73"></a><a name="_bclPageBorder73"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<h1 align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:5.85pt;margin-top:3.95pt;page-break-after:avoid;text-align:right;"><font color=gray face="NewsGoth Dm BT,sans-serif" style="font-size:11.0pt;font-weight:normal;">APPENDIX D</font></h1>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:57.85pt;margin-right:57.9pt;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">EATON
VANCE FLOATING RATE-INCOME TRUST</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:57.85pt;margin-right:57.9pt;margin-top:4.5pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">VARIABLE
RATE TERM PREFERRED SHARES, SERIES C-4</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Preliminary
Statement and Incorporation By Reference</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:16.8pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">This Appendix establishes a Series
of Variable Rate Term Preferred Shares of Eaton Vance Floating-Rate Income
Trust. Except as set forth below, this Appendix incorporates by reference the
terms set forth with respect to all Series of such Variable Rate Term Preferred
Shares in that &#8220;Amendment No. X to the By-Laws of Eaton Vance Floating-Rate
Income Trust Establishing and Fixing the Rights and Preferences of Variable
Rate Term Preferred Shares&#8221; dated December 18, 2012 (the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">VRTP Amendment</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;).
This Appendix has been adopted by resolution of the Board of Trustees of Eaton
Vance Floating-Rate Income Trust. Capitalized terms used herein but not defined
herein have the respective meanings set forth in the VRTP Amendment.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Designation of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.0pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Variable Rate Term Preferred
Shares, Series C-4: A series of up to eight-hundred (800) Preferred Shares
classified as Variable Rate Term Preferred Shares is hereby designated as &#8220;Series
C-4 Variable Rate Term Preferred Shares&#8221; (the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series C-4 VRTP Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;).
Each Series C-4 VRTP Share shall have such preferences, voting powers,
restrictions, limitations as to dividends and other distributions,
qualifications and terms and conditions of redemption, in addition to those
required by applicable law and those that are expressly set forth in the
Declaration of Trust and the VRTP Amendment (except as the VRTP Amendment may
be expressly modified by this Appendix), as are set forth in this Appendix A.
The Series C-4 VRTP Shares shall constitute a separate series of Preferred
Shares and of the Variable Rate Term Preferred Shares and each Series C-4 VRTP
Share shall be identical. The following terms and conditions shall apply solely
to the Series C-4 VRTP Shares:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Number of Authorized Shares of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:23.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The number of authorized Series C-4
VRTP Shares at any time is eight-hundred (800) </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">minus</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> the aggregate
number of VRTP Shares of each other Series Outstanding at such time.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Issuance Date of Shares of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:19.8pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The &#8220;Issuance Date&#8221; for each Series
C-4 VRTP Share will deemed to be the date that a VRTP Share of any other
Specified Series is exchanged for such Series C-4 VRTP Share.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:152.2pt;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;line-height:186%;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Liquidation Preference Applicable to Series. The
Liquidation Preference is $100,000.00 per</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;line-height:186%;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">share.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Term Redemption Date
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">55</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_74"></a><a name="_bclPageBorder74"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:35.75pt;margin-top:3.8pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The
Term Redemption Date is December 18, 2015, subject to extension pursuant to </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section
2.5(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> of the VRTP Amendment.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Dividend Payment Dates
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:7.4pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The Dividend Payment Date is the
date that is two (2) Business Days after the last calendar day of each Dividend
Period; provided, that all accrued but unpaid dividends on any Series C-4 VRTP
Share that has been transferred by CRC shall be payable to CRC on the second
Business Day after the related Transfer Date.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Liquidity Account Initial Date
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:15.35pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The Liquidity Account Initial Date
is June 18, 2015 or, if applicable, the date that is six months prior to the
Term Redemption Date as extended pursuant to </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> of the VRTP
Amendment or, in each case, if such date is not a Business Day, the Business
Day immediately preceding such date.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Exceptions to Certain
Definitions Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:44.4pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The following definitions contained
under the heading &#8220;Definitions&#8221; in the VRTP Amendment are hereby amended as
follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Not
applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Additional Definitions
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:8.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The following terms shall have the
following meanings (with terms defined in the singular having comparable
meanings when used in the plural and vice versa), unless the context otherwise
requires:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Dividend Period&#8221; means, with
respect to each Outstanding Series C-4 VRTP Share, in the case of the first
Dividend Period following the Issuance Date of such VRTP Share, the period
beginning on (and including) such Issuance Date and ending on (and including)
the last calendar day of the month in which such Issuance Date occurs and, for
each subsequent Dividend Period, the period beginning on (and including) the
first calendar day of the month following the month in which the previous
Dividend Period ended and ending on (and including) the last calendar day of
such month.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.2pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Index Rate&#8221; means, for each day
during a Dividend Period and solely with respect to any Series C-4 VRTP Shares
Outstanding on such day, the per annum rate equivalent to the weighted average
of the per annum rates paid or payable by CRC from time to time as interest on
or otherwise (by means of interest rate hedges or otherwise) in respect of
those commercial paper notes issued by CRC that are allocated, in whole or in
part, by the Agent (on behalf of CRC) to fund or maintain the investment by CRC
in the Series C-4 VRTP Shares Outstanding on such day, as determined by the
Agent (on behalf of CRC) and reported to the Trust, which rates shall reflect
and give effect to the commissions of placement agents and dealers in respect
of such commercial paper notes, to the extent such commissions are allocated,
in whole or in part, to such commercial paper notes by the Agent (on behalf of
CRC); provided, however, that if</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-1.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">any</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">56</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_75"></a><a name="_bclPageBorder75"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.85pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">component of such rate is a
discount rate, in calculating the &#8220;Index Rate&#8221; for such day, the Agent shall
for such component use the rate resulting from converting such discount rate to
an interest bearing equivalent rate per annum.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:12.15pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Transfer Date&#8221; means, with respect
to any Series C-4 VRTP Share transferred by CRC, the settlement date for the
transfer of such VRTP Share.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">10.&#160;&#160;&#160;&#160;&#160;&#160; Amendments to Terms of VRTP
Shares Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:21.1pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The following provisions contained
under the heading &#8220;Terms of the VRTP Shares&#8221; in the VRTP Amendment are hereby
amended as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Reporting of Index Rate and Dividend</font></u><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.75pt;"> </font></u><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Rate</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:10.15pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">With respect to any Outstanding
Series C-4 VRTP Shares, the Agent shall determine in accordance with the terms
hereof the applicable Dividend Rate for such Series for each day in a Dividend
Period and shall provide notice thereof to the Trust and the Redemption and
Paying Agent by 3:00 p.m. (New York City time) on such day. Such notice shall
set forth the Index Rate and the Applicable Spread (which may be the Applicable
Spread for the Increased Rate, if applicable) used in connection with the
calculation of the Dividend Rate for such Series. Each determination of the
Dividend Rate for such Series by the Agent shall be conclusive and binding for
all purposes on the Trust, absent manifest</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">error.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfers to Persons other than Conduit Purchasers</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.15pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-4 VRTP
Shares by CRC to any Person that (x) is not a Conduit Purchaser and (y) is a
member of the Federal Reserve System (or any successor) (or is otherwise
subject to Regulation D of the Board of Governors of the Federal Reserve
System) shall result in such Series C-4 VRTP Shares being exchanged for an
equal number of Series L-1 VRTP Shares. The Series L-1 VRTP Shares shall have
preferences, voting powers, restrictions, limitations as to dividends and other
distributions, qualifications and terms and conditions of redemption, in
addition to those required by applicable law and those that are expressly set
forth in the Declaration of Trust and the VRTP Amendment (except as the VRTP
Amendment may be expressly modified by Appendix E), as are set forth in
Appendix</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.35pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">E.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.8pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-4 VRTP
Shares by CRC to any Person that (x) is not a Conduit Purchaser and (y) is not
a member of the Federal Reserve System (or any successor) (or is not otherwise
subject to Regulation D of the Board of Governors of the Federal Reserve
System) shall result in such Series C-4 VRTP Shares being exchanged for an
equal number of Series L-2 VRTP Shares. The Series L-2 VRTP Shares shall have
preferences, voting powers, restrictions, limitations as to dividends and other
distributions, qualifications and terms and conditions of redemption, in
addition to those required by applicable law and those that are expressly set
forth in the Declaration of Trust and the VRTP Amendment (except as the VRTP
Amendment may be expressly modified by Appendix F), as are set forth in
Appendix</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.35pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">F.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfers to other Conduit Purchasers</font></u></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">57</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_76"></a><a name="_bclPageBorder76"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.25pt;margin-top:3.8pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any
transfer of Series C-4 VRTP Shares by CRC to CHARTA shall result in such Series
C-4 VRTP Shares being exchanged for an equal number of Series C-1 VRTP Shares.
The Series C-1 VRTP Shares shall have preferences, voting powers, restrictions,
limitations as to dividends and other distributions, qualifications and terms
and conditions of redemption, in addition to those required by applicable law
and those that are expressly set forth in the Declaration of Trust and the VRTP
Amendment (except as the VRTP Amendment may be expressly modified by Appendix
A), as are set forth in Appendix B.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any
transfer of Series C-4 VRTP Shares by CRC to CAFCO shall result in such Series</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.25pt;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">C-4
VRTP Shares being exchanged for an equal number of Series C-2 VRTP Shares. The
Series C-2 VRTP Shares shall have preferences, voting powers, restrictions,
limitations as to dividends and other distributions, qualifications and terms
and conditions of redemption, in addition to those required by applicable law
and those that are expressly set forth in the Declaration of Trust and the VRTP
Amendment (except as the VRTP Amendment may be expressly modified by the
Appendix B), as are set forth in Appendix B.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.25pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-4 VRTP
Shares by CRC to CIESCO shall result in such Series C-4 VRTP Shares being
exchanged for an equal number of Series C-3 VRTP Shares. The Series C-3 VRTP
Shares shall have preferences, voting powers, restrictions, limitations as to
dividends and other distributions, qualifications and terms and conditions of
redemption, in addition to those required by applicable law and those that are
expressly set forth in the Declaration of Trust and the VRTP Amendment (except
as the VRTP Amendment may be expressly modified by the Appendix C), as are set
forth in Appendix C.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfers In General</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:23.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series C-4 VRTP
Shares by CRC shall require delivery of a written notice to the Trust and the
Redemption and Paying Agent by CRC (which may be given at or prior to 3:00 p.m.
(New York City time) on the related Transfer Date) providing the Transfer Date,
the transferee, the amount of Series C-4 VRTP Shares being transferred and the
amount and applicable Series of VRTP Shares being exchanged for such Series C-4
VRTP Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:11.0pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">As of any Transfer Date, without
any requirement for any further approval by the Board of Trustees or any other
Person (but subject to the transfer restrictions set forth in Section 2.17),
the Trust shall be deemed to have cancelled and reduced the authorized number
of Series C-4 VRTP Shares in an amount equal to the corresponding number of
other Series of VRTP Shares exchanged for Series C-4 VRTP Shares on such
Transfer Date, provided that the aggregate number of VRTP Shares Outstanding at
any time shall not exceed eight-hundred (800). As of the settlement date for
the transfer of any other Series of VRTP Shares to CRC, without any requirement
for any further approval by the Board of Trustees or any other Person, the
Trust shall be deemed to have increased the authorized number of and issued
Series C-4 VRTP Shares in an amount equal to the corresponding number of other
Series of VRTP Shares being exchanged for Series C-4 VRTP Shares, provided that
the aggregate number of VRTP Shares Outstanding at any time shall not exceed
eight-hundred</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.45pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(800).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:.15in;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Notwithstanding anything to the
contrary in the VRTP Amendment or in any Appendix, accrued but unpaid dividends
on any Series C-4 VRTP Shares that have been exchanged for any</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">58</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_77"></a><a name="_bclPageBorder77"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:11.4pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">other Specified Series of VRTP
Shares shall be payable by the Trust to CRC on the second Business Day after
the related Transfer Date notwithstanding that such Series C-4 VRTP Shares have
been deemed cancelled pursuant to the preceding paragraph.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:8.4pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">If the VRTP Shares of the Specified
Series are required to be redeemed pursuant to the VRTP Amendment or any
Appendix, the Trust shall only be required to redeem Outstanding VRTP Shares of
the Specified Series. If the Outstanding VRTP Shares of any Specified Series
are redeemed, the number of authorized shares of each Specified Series and the
permitted maximum aggregate number of Outstanding VRTP Shares of all Specified
Series permitted shall be deemed reduced by the same number of VRTP Shares
being redeemed.</font></p>








<h1 align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:5.85pt;margin-top:3.95pt;page-break-after:avoid;text-align:right;">&nbsp;</h1>
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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">59</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_78"></a><a name="_bclPageBorder78"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<h1 align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:5.85pt;margin-top:3.95pt;page-break-after:avoid;text-align:right;"><font color=gray face="NewsGoth Dm BT,sans-serif" style="font-size:11.0pt;font-weight:normal;">APPENDIX E</font></h1>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:57.85pt;margin-right:57.9pt;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">EATON
VANCE FLOATING RATE-INCOME TRUST</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:57.9pt;margin-right:57.9pt;margin-top:4.5pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">VARIABLE
RATE TERM PREFERRED SHARES, SERIES L-1</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Preliminary
Statement and Incorporation By Reference</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:16.8pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">This Appendix establishes a Series
of Variable Rate Term Preferred Shares of Eaton Vance Floating-Rate Income
Trust. Except as set forth below, this Appendix incorporates by reference the
terms set forth with respect to all Series of such Variable Rate Term Preferred
Shares in that &#8220;Amendment No. X to the By-Laws of Eaton Vance Floating-Rate
Income Trust Establishing and Fixing the Rights and Preferences of Variable Rate
Term Preferred Shares&#8221; dated December 18, 2012 (the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">VRTP Amendment</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;).
This Appendix has been adopted by resolution of the Board of Trustees of Eaton
Vance Floating-Rate Income Trust. Capitalized terms used herein but not defined
herein have the respective meanings set forth in the VRTP Amendment.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Designation of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:9.05pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Variable Rate Term Preferred
Shares, Series L-1: A series of up to eight-hundred (800) Preferred Shares
classified as Variable Rate Term Preferred Shares is hereby designated as
&#8220;Series L-1 Variable Rate Term Preferred Shares&#8221; (the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series L-1 VRTP
Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;). Each Series L-1 VRTP Share shall have such preferences, voting
powers, restrictions, limitations as to dividends and other distributions,
qualifications and terms and conditions of redemption, in addition to those
required by applicable law and those that are expressly set forth in the
Declaration of Trust and the VRTP Amendment (except as the VRTP Amendment may
be expressly modified by this Appendix), as are set forth in this Appendix E.
The Series L-1 VRTP Shares shall constitute a separate series of Preferred
Shares and of the Variable Rate Term Preferred Shares and each Series L-1 VRTP
Share shall be identical. The following terms and conditions shall apply solely
to the Series L-1 VRTP Shares:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Number of Authorized Shares of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:24.15pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The number of authorized Series L-1
VRTP Shares at any time is eight-hundred (800) </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">minus</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> the aggregate
number of VRTP Shares of each other Series Outstanding at such time.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Issuance Date of Shares of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.15pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The &#8220;Issuance Date&#8221; for each Series
L-1 VRTP Share will be deemed to be the date that a VRTP Share of any other
Specified Series is exchanged for such Series L-1 VRTP Share.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:152.2pt;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;line-height:186%;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Liquidation Preference Applicable to Series. The
Liquidation Preference is $100,000.00 per</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;line-height:186%;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">share.</font></p>









<a name="_bclFooter78"></a><DIV>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">60</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_79"></a><a name="_bclPageBorder79"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Term Redemption Date Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:35.75pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The Term Redemption Date is
December 18, 2015, subject to extension pursuant to </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> of
the VRTP Amendment.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Dividend Payment Dates Applicable
to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:12.45pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The Dividend Payment Date is the
date that is two (2) Business Days after the end of each Dividend Period;
provided, that all accrued but unpaid dividends on any Series L-1 VRTP Share
that has been transferred to any Person other than a Conduit Purchaser shall be
payable to the transferor on the second Business Day after the related Transfer
Date.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Liquidity Account Initial Date
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The Liquidity Account Initial Date
is June 18, 2015 or, if applicable, the date that is six months prior to the
Term Redemption Date as extended pursuant to </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> of the VRTP
Amendment or, if such date is not a Business Day, the Business Day immediately
preceding such date.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:0in;margin-top:4.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Exceptions to Certain Definitions
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:44.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The following definitions contained
under the heading &#8220;Definitions&#8221; in the VRTP Amendment are hereby amended as
follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Not
applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Additional Definitions
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.15pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The following terms shall have the
following meanings (with terms defined in the singular having comparable
meanings when used in the plural and vice versa), unless the context otherwise
requires:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.15pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Bank Rate&#8221; means, with respect to
any Dividend Period, an interest rate per annum equal to the Eurodollar Rate
for such Dividend Period; provided, however, in the case of any Dividend Period
commencing after the Agent shall have notified the Trust that the introduction
of or any change in or in the interpretation of any law or regulation makes it
unlawful, or any central bank or other governmental authority asserts that it
is unlawful, for any or all of the Holders or Designated Owners of the Series
L-1 VRTP Shares to maintain investments in such VRTP Shares at the Eurodollar
Rate, the Bank Rate for such Dividend Period shall be an interest rate per
annum equal to the Base Rate in effect on the first day of such Dividend
Period.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:10.45pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Base Rate&#8221; means the rate of
interest from time to time announced publicly by Citibank at its Principal Office
as its base rate. The &#8220;Base Rate&#8221; is a reference rate and does not necessarily
represent the lowest or best rate actually charged to any customer of Citibank.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Dividend Period&#8221; means, with
respect to each Outstanding Series L-1 VRTP Share, in the case of the first
Dividend Period following the Issuance Date of such VRTP Share, the period
beginning on (and including) such Issuance Date and ending on (and including)
the last calendar</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">61</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_80"></a><a name="_bclPageBorder80"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.75pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">day of the month in which such
Issuance Date occurs and, for each subsequent Dividend Period, the period
beginning on (and including) the first calendar day of the month following the
month in which the previous Dividend Period ended and ending on (and including)
the last calendar day of such month.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:9.75pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Eurocurrency Liabilities&#8221; shall
have the meaning assigned to such term in Regulation D of the Board of
Governors of the Federal Reserve System, as in effect from time to time.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.8pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Eurodollar Rate&#8221; means, with
respect to any Dividend Period, an interest rate per annum obtained by dividing
(a) the rate per annum at which deposits in Dollars are offered by the
principal office of Citibank in London, England to prime banks in the London
interbank market at 11:00 A.M. (London time) on the related Rate Determination
Date in an amount substantially equal to the aggregate Liquidation Preference
of the Outstanding Series L-1 VRTP Shares on such Rate Determination Date and
for a period substantially equal to one month by (b) the amount equal to 1.00
minus the Eurodollar Rate Reserve Percentage (expressed as a decimal) for such
Dividend Period.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.85pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Eurodollar Rate Reserve
Percentage&#8221; means, with respect to any Dividend Period, the reserve percentage
applicable on the related Rate Determination Date under regulations issued from
time to time by the Board of Governors of the Federal Reserve System (or any
successor) (or if more than one such percentage shall be applicable, the daily
average of such percentages for those days in such period during which any such
percentage shall be so applicable) for determining the maximum reserve
requirement (including, without limitation, any emergency, supplemental or
other marginal reserve requirement) for a member bank of the Federal Reserve
System (or any successor) with respect to liabilities or assets consisting of
or including Eurocurrency Liabilities (or any other category of liabilities
that includes deposits by reference to which the interest rate on Eurocurrency
Liabilities is determined) having a term comparable to such period.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:39.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Index Rate&#8221; means, with respect to
each day in a Dividend Period and solely with respect to any Series L-1 VRTP
Shares Outstanding on such day, the Bank Rate.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:10.4pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Principal Office&#8221; means the
principal office of Citibank presently located at 399 Park Avenue, New York,
New York or at such other location as Citibank shall designate in writing to
the Trust.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:11.15pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Transfer Date&#8221; means, with respect
to any Series L-1 VRTP Share being transferred for a VRTP Share of any other
Series, the settlement date for such transfer.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">10.&#160;&#160;&#160;&#160;&#160;&#160; Amendments to Terms of VRTP
Shares Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:21.05pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The following provisions contained
under the heading &#8220;Terms of the VRTP Shares&#8221; in the VRTP Amendment are hereby
amended as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Reporting of Index Rate and Dividend Rate</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:23.8pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Prior to each Dividend Period, the
Agent shall determine the applicable Bank Rate for such Dividend Period and
provide notice thereof to the Trust and the Redemption and Paying</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">62</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_81"></a><a name="_bclPageBorder81"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.35pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Agent by 3:00 p.m. (New York City
time) on or prior to the first day of such Dividend Period. With respect to any
Outstanding Series L-1 VRTP Shares, the Agent shall determine in accordance
with the terms hereof the applicable initial Dividend Rate for such Series for
each Dividend Period and provide notice thereof to the Trust and the Redemption
and Paying Agent by 3:00 p.m. (New York City time) on or prior to the first day
of such Dividend Period. The Agent shall also determine in accordance with the
terms hereof each adjustment that is required to be made to the then-applicable
Dividend Rate for such Series during each Dividend Period and provide notice
thereof to the Trust and the Redemption and Paying Agent by 3:00 p.m. (New York
City time) on the day such adjustment is required to be made or as soon as
practicable thereafter. Such notices shall set forth the Index Rate and the
Applicable Spread (which may be the Applicable Spread for the Increased Rate,
if applicable) used in connection with the calculation of the Dividend Rate for
such Series. Each determination of the Dividend Rate for such Series and any
adjustments thereof by the Agent shall be conclusive and binding for all
purposes on the Trust, absent manifest</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.25pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">error.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Liquidation Fee</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:11.9pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The Trust shall compensate any
Designated Owner of the Series L-1 VRTP Shares and any of its affiliates (each
such Person, an &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Affected Person</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;), upon the Agent&#8217;s written request
(which request shall set forth the basis for requesting such amounts), for all
reasonable losses, expenses and liabilities (including, without limitation, any
interest paid by such Affected Person to lenders of funds borrowed by it to
make or carry its investment in such Series L-1 VRTP Shares and any loss
sustained by such Affected Person in connection with the re-employment of such
funds), which such Affected Person may sustain if any optional redemption of
such Series L-1 VRTP Shares under </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> is not made on the date
specified in the related Notice of Redemption or occurs on a date which is not
the last day of a Dividend Period.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:17.75pt;margin-top:0in;text-align:justify;text-indent:.5in;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfers to a Person (other than a
Conduit Purchaser) that is not a member bank of the</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Federal Reserve System</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series L-1 VRTP
Shares to any Person that (x) is not a Conduit Purchaser and (y) is not a
member of the Federal Reserve System (or any successor) (or is not otherwise
subject to Regulation D of the Board of Governors of the Federal Reserve
System) shall result in such Series L-1 VRTP Shares being exchanged for an
equal number of Series L-2 VRTP Shares. The Series L-2 VRTP Shares shall have
preferences, voting powers, restrictions, limitations as to dividends and other
distributions, qualifications and terms and conditions of redemption, in
addition to those required by applicable law and those that are expressly set
forth in the Declaration of Trust and the VRTP Amendment (except as the VRTP
Amendment may be expressly modified by Appendix F), as are set forth in
Appendix F.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfers to Conduit Purchasers</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.95pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series L-1 VRTP
Shares to CHARTA shall result in such Series L-1 VRTP Shares being exchanged
for an equal number of Series C-1 VRTP Shares. The Series C-1 VRTP Shares shall
have preferences, voting powers, restrictions, limitations as to dividends and
other distributions, qualifications and terms and conditions of redemption, in
addition to those required by applicable law and those that are expressly set
forth in the Declaration of Trust and</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">63</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_82"></a><a name="_bclPageBorder82"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:49.75pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">the VRTP Amendment (except as the VRTP
Amendment may be expressly modified by Appendix A), as are set forth in
Appendix A.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.4pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series L-1 VRTP
Shares to CAFCO shall result in such Series L-1 VRTP Shares being exchanged for
an equal number of Series C-2 VRTP Shares. The Series C-2 VRTP Shares shall
have preferences, voting powers, restrictions, limitations as to dividends and
other distributions, qualifications and terms and conditions of redemption, in
addition to those required by applicable law and those that are expressly set
forth in the Declaration of Trust and the VRTP Amendment (except as the VRTP
Amendment may be expressly modified by Appendix B), as are set forth in
Appendix B</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.35pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series L-1 VRTP
Shares to CIESCO shall result in such Series L-1</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-1.3pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">VRTP Shares being exchanged for an equal number of Series C-3
VRTP Shares. The Series C-3 VRTP Shares shall have preferences, voting powers,
restrictions, limitations as to dividends and other distributions,
qualifications and terms and conditions of redemption, in addition to those
required by applicable law and those that are expressly set forth in the
Declaration of Trust and the VRTP Amendment (except as the VRTP Amendment may
be expressly modified by the Appendix C), as are set forth in Appendix C.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.4pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series L-1 VRTP
Shares to CRC shall result in such Series L-1 VRTP Shares being exchanged for
an equal number of Series C-4 VRTP Shares. The Series C-4 VRTP Shares shall
have preferences, voting powers, restrictions, limitations as to dividends and
other distributions, qualifications and terms and conditions of redemption, in
addition to those required by applicable law and those that are expressly set
forth in the Declaration of Trust and the VRTP Amendment (except as the VRTP
Amendment may be expressly modified by the Appendix D), as are set forth in
Appendix D.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfers In General</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.5pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series L-1 VRTP
Shares shall require delivery of a written notice to the Trust by the
applicable transferor (which may be given at or prior to 3:00 p.m. (New York
City time) on the related Transfer Date) providing the Transfer Date, the
transferee, the amount of Series L-1 VRTP Shares being transferred and the
amount and applicable Series of VRTP Shares being exchanged for such Series L-1
VRTP Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:10.9pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">As of any Transfer Date, without
any requirement for any further approval by the Board of Trustees or any other
Person (but subject to the transfer restrictions set forth in Section 2.17),
the Trust shall be deemed to have cancelled and reduced the authorized number
of Series L-1 VRTP Shares in an amount equal to the corresponding number of
other Series of VRTP Shares exchanged for Series L-1 VRTP Shares on such
Transfer Date, provided that the aggregate number of VRTP Shares Outstanding at
any time shall not exceed eight-hundred (800). As of the settlement date for
the transfer of any Series of VRTP Shares other than Series L-1 VRTP Shares to
any Person that (x) is not a Conduit Purchaser and (y) is a member bank of the
Federal Reserve System (or any successor) (or is otherwise subject to
Regulation D of the Board of Governors of the Federal Reserve System), without
any requirement for any further approval by the Board of Trustees or any other
Person, the Trust shall be deemed to have increased the authorized number of
and issued Series L-1 VRTP Shares in an amount equal to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.55pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">the</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">64</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_83"></a><a name="_bclPageBorder83"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:21.45pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">corresponding number of other
Series of VRTP Shares being exchanged for Series L-1 VRTP Shares, provided that
the aggregate number of VRTP Shares Outstanding at any time shall not exceed
eight-hundred (800).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:12.35pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Notwithstanding anything to the
contrary in the VRTP Amendment or in any Appendix, accrued but unpaid dividends
on any Series L-1 VRTP Shares that have been exchanged for any other Specified
Series of VRTP Shares shall be payable by the Trust to the applicable
transferor on the second Business Day after the related Transfer Date
notwithstanding that such Series L-1 VRTP Shares have been deemed cancelled
pursuant to the preceding paragraph.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:8.4pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">If the VRTP Shares of the Specified
Series are required to be redeemed pursuant to the VRTP Amendment or any
Appendix, the Trust shall only be required to redeem Outstanding VRTP Shares of
the Specified Series. If the Outstanding VRTP Shares of any Specified Series
are redeemed, the number of authorized shares of each Specified Series and the
permitted maximum aggregate number of Outstanding VRTP Shares of all Specified
Series permitted shall be deemed reduced by the same number of VRTP Shares
being redeemed.</font></p>








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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">65</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

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</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_84"></a><a name="_bclPageBorder84"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<h1 align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:5.85pt;margin-top:3.95pt;page-break-after:avoid;text-align:right;"><font color=gray face="NewsGoth Dm BT,sans-serif" style="font-size:11.0pt;font-weight:normal;">APPENDIX F</font></h1>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:57.85pt;margin-right:57.9pt;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">EATON
VANCE FLOATING RATE-INCOME TRUST</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:57.9pt;margin-right:57.9pt;margin-top:4.5pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">VARIABLE
RATE TERM PREFERRED SHARES, SERIES L-2</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Preliminary
Statement and Incorporation By Reference</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:16.8pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">This Appendix establishes a Series
of Variable Rate Term Preferred Shares of Eaton Vance Floating-Rate Income
Trust. Except as set forth below, this Appendix incorporates by reference the
terms set forth with respect to all Series of such Variable Rate Term Preferred
Shares in that &#8220;Amendment No. X to the By-Laws of Eaton Vance Floating-Rate
Income Trust Establishing and Fixing the Rights and Preferences of Variable
Rate Term Preferred Shares&#8221; dated December 18, 2012 (the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">VRTP Amendment</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;).
This Appendix has been adopted by resolution of the Board of Trustees of Eaton
Vance Floating-Rate Income Trust. Capitalized terms used herein but not defined
herein have the respective meanings set forth in the VRTP Amendment.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Designation of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:9.7pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Variable Rate Term Preferred
Shares, Series L-2: A series of up to eight-hundred (800) Preferred Shares
classified as Variable Rate Term Preferred Shares is hereby designated as
&#8220;Series L-2 Variable Rate Term Preferred Shares&#8221; (the &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series L-2 VRTP
Shares</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;). Each Series L-2 VRTP Share shall have such preferences, voting
powers, restrictions, limitations as to dividends and other distributions,
qualifications and terms and conditions of redemption, in addition to those
required by applicable law and those that are expressly set forth in the
Declaration of Trust and the VRTP Amendment (except as the VRTP Amendment may
be expressly modified by this Appendix), as are set forth in this Appendix F.
The Series L-2 VRTP Shares shall constitute a separate series of Preferred
Shares and of the Variable Rate Term Preferred Shares and each Series L-2 VRTP
Share shall be identical. The following terms and conditions shall apply solely
to the Series L-2 VRTP Shares:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Number of Authorized Shares of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:24.15pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The number of authorized Series L-2
VRTP Shares at any time is eight-hundred (800) </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">minus</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> the aggregate
number of VRTP Shares of each other Series Outstanding at such time.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Issuance Date of Shares of</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.15pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The &#8220;Issuance Date&#8221; for each Series
L-2 VRTP Share will be deemed to be the date that a VRTP Share of any other
Specified Series is exchanged for such Series L-2 VRTP Share.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:152.2pt;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;line-height:186%;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Liquidation Preference Applicable to Series. The
Liquidation Preference is $100,000.00 per</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;line-height:186%;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;line-height:186%;">share.</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">66</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_85"></a><a name="_bclPageBorder85"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Term Redemption Date Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.3pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:35.75pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The Term Redemption Date is January 24, 2024, subject to extension pursuant to </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section
2.5(a)</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> of the VRTP Amendment.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Dividend Payment Dates
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:12.45pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The Dividend Payment Date is the
date that is two (2) Business Days after the end of each Dividend Period;
provided, that all accrued but unpaid dividends on any Series L-2 VRTP Share
that has been transferred to any Person other than a Conduit Purchaser shall be
payable to the transferor on the second Business Day after the related Transfer
Date.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Liquidity Account Initial Date
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The Liquidity Account Initial Date
is the date that is six months prior to the Term Redemption Date as may be
revised or extended in accordance with Section 2.5(a) of the VRTP Amendment or
Section 5 of Appendix F to the VRTP Amendment or, if such date is not a
Business Day, the Business Day immediately preceding such date.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:0in;margin-top:4.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Exceptions to Certain
Definitions Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:44.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The following definitions contained
under the heading &#8220;Definitions&#8221; in the VRTP Amendment are hereby amended as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Not
applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.1pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Additional Definitions
Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.2pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.15pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The following terms shall have the
following meanings (with terms defined in the singular having comparable
meanings when used in the plural and vice versa), unless the context otherwise
requires:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.15pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Bank Rate&#8221; with respect to any Dividend
Period, an interest rate per annum equal to the Eurodollar Rate for such
Dividend Period; provided, however, in the case of any Dividend Period
commencing after the Agent shall have notified the Trust that the introduction
of or any change in or in the interpretation of any law or regulation makes it
unlawful, or any central bank or other governmental authority asserts that it
is unlawful,&#160; for any or all of the Holders or Designated Owners of the Series
L-2 VRTP Shares to maintain investments in such VRTP Shares at the Eurodollar
Rate, the Bank Rate for such Dividend Period shall be an interest rate per
annum equal to the Base Rate in effect on the first day of such Dividend
Period. Notwithstanding the foregoing, the Bank Rate shall not be less than
zero.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:10.45pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Base Rate&#8221; means the rate of
interest from time to time announced publicly by Citibank at its Principal
Office as its base rate. The &#8220;Base Rate&#8221; is a reference rate and does not
necessarily represent the lowest or best rate actually charged to any customer
of Citibank.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.1pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Dividend Period&#8221; means, with
respect to each Outstanding Series L-2 VRTP Share, in the case of the first
Dividend Period following the Issuance Date of such VRTP Share, the period
beginning on (and including) such Issuance Date and ending on (and including)
the last calendar</font></p>









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<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.75pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">day of the month in which such
Issuance Date occurs and, for each subsequent Dividend Period, the period
beginning on (and including) the first calendar day of the month following the
month in which the previous Dividend Period ended and ending on (and including)
the last calendar day of such month.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.8pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Eurodollar Rate&#8221; means, with respect to any Dividend
Period, an interest rate per annum equal to the rate per annum appearing on the
display designated as &#8220;BBAM&#8221; on the screens maintained by Bloomberg, L.P. at
11:00 A.M. (London time) (&#8220;LIBOR Rate&#8221;) on the related Rate Determination Date
in an amount substantially equal to the aggregate Liquidation Preference of the
Outstanding Series L-2 VRTP Shares on such Rate Determination Date and for a
period substantially equal to three months, provided, however, that if at any
time with respect to any Dividend Period, LIBOR Rate is not displayed, the
Trust and the Agent may, by mutual agreement, determine an alternate rate of
interest as the Eurodollar Rate that gives due consideration to the then
prevailing market convention for determining a rate of interest for syndicated
loans in the United States of America at such time, and the Trust shall amend
the Amendment to reflect such alternate rate of interest, together with any
conforming changes to any relevant defined terms, timing and frequency of
determining rates and making dividend payments and other administrative matters
as may be agreed by the Trust and the Agent; provided that until the Trust and
the Agent have mutually agreed upon an alternative rate of interest, the
Eurodollar Rate for any day shall be equal to a fluctuating rate per annum
equal to the Overnight Bank Funding Rate plus fifty (50) basis points (0.50%).
Notwithstanding the foregoing, the Eurodollar Rate shall not be less than zero.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:39.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Index Rate&#8221; means, with respect to
each day in a Dividend Period and solely with respect to any Series L-2 VRTP
Shares Outstanding on such day, the Bank Rate.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:39.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:39.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Overnight Bank Funding Rate&#8221;
means, for any day (such day, the &#8220;OBFR Day&#8221;), the overnight bank funding rate
published in respect of such OBFR Day on the website
http://www.federalreserve.gov, which can be sourced from the Reuters Screen
USONBFR= Page or Bloomberg Screen OBFR01 Page, at approximately 9:00 a.m. (New
York City time) on the Business Day immediately following such OBFR Day;
provided that if, by 5:00 p.m. (New York City time), on the Business Day
immediately following such OBFR Day, such rate for such OBFR Day is not yet
published on the website http://www.federalreserve.gov, the rate for such OBFR
Day will be the rate for the first preceding day for which such rate is
published on the website http://www.federalreserve.gov.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:10.4pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Principal Office&#8221; means the
principal office of Citibank presently located at 399 Park Avenue, New York,
New York or at such other location as Citibank shall designate in writing to
the Trust.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:11.15pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8220;Transfer Date&#8221; means, with respect
to any Series L-2 VRTP Share being transferred for a VRTP Share of any other
Series, the settlement date for such transfer.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">10.&#160;&#160;&#160;&#160;&#160;&#160; Amendments to Terms of VRTP
Shares Applicable to</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Series.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:21.05pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The following provisions contained
under the heading &#8220;Terms of the VRTP Shares&#8221; in the VRTP Amendment are hereby
amended as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Reporting of Index Rate and Dividend Rate</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:7.35pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Prior to each Dividend Period, the
Agent shall determine the applicable Bank Rate for such Dividend Period and
provide notice thereof to the Trust and the Redemption and Paying Agent by 3:00
p.m. (New York City time) on or prior to the first day of such Dividend Period.
With respect to any Outstanding Series L-2 VRTP Shares, the Agent shall
determine in accordance with the terms hereof the applicable initial Dividend
Rate for such Series for each Dividend Period and provide notice thereof to the
</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Trust and the Redemption and Paying Agent by 3:00 p.m.
(New York City time) on or prior to the first day of such Dividend Period. The
Agent shall also determine in accordance with the terms hereof each adjustment
that is required to be made to the then-applicable Dividend Rate for such
Series during each Dividend Period and provide notice thereof to the Trust and
the Redemption and Paying Agent by 3:00 p.m. (New York City time) on the day
such adjustment is required to be made or as soon as practicable thereafter.
Such notices shall set forth the Index Rate and the Applicable Spread (which
may be the Applicable Spread for the Increased Rate, if applicable) used in
connection with the calculation of the Dividend Rate for such Series. Each
determination of the Dividend Rate for such Series and any adjustments thereof
by the Agent shall be conclusive and binding for all purposes on the Trust,
absent manifest</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.25pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">error.</font></p>
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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">68</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

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</DIV>
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<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Liquidation Fee</font></u></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">69</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_88"></a><a name="_bclPageBorder88"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:11.9pt;margin-top:3.8pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">The
Trust shall compensate any Designated Owner of the Series L-2 VRTP Shares and
any of its affiliates (each such Person, an &#8220;</font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Affected Person</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#8221;), upon the
Agent&#8217;s written request (which request shall set forth the basis for requesting
such amounts), for all reasonable losses, expenses and liabilities (including,
without limitation, any interest paid by such Affected Person to lenders of
funds borrowed by it to make or carry its investment in such Series L-2 VRTP
Shares and any loss sustained by such Affected Person in connection with the
re-employment of such funds), which such Affected Person may sustain if any
optional redemption of such Series L-2 VRTP Shares under </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Section 2.5</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> is
not made on the date specified in the related Notice of Redemption or occurs on
a date which is not the last day of a Dividend Period.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:36.1pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfers to a Person (other than a
Conduit Purchaser) that is a member bank of the</font></u><font face="times new roman" lang=EN-US style="font-size:11.0pt;"> </font><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Federal Reserve System</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series L-2 VRTP
Shares to any Person that (x) is not a Conduit Purchaser and (y) is a member of
the Federal Reserve System (or any successor) (or is otherwise subject to
Regulation D of the Board of Governors of the Federal Reserve System) shall
result in such Series L-2 VRTP Shares being exchanged for an equal number of
Series L-1 VRTP Shares. The Series L-1 VRTP Shares shall have preferences,
voting powers, restrictions, limitations as to dividends and other
distributions, qualifications and terms and conditions of redemption, in
addition to those required by applicable law and those that are expressly set
forth in the Declaration of Trust and the VRTP Amendment (except as the VRTP
Amendment may be expressly modified by Appendix E), as are set forth in
Appendix E.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:41.95pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfers to Conduit Purchasers</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.95pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series L-2 VRTP
Shares to CHARTA shall result in such Series L-2 VRTP Shares being exchanged
for an equal number of Series C-1 VRTP Shares. The Series C-1 VRTP Shares shall
have preferences, voting powers, restrictions, limitations as to dividends and
other distributions, qualifications and terms and conditions of redemption, in
addition to those required by applicable law and those that are expressly set
forth in the Declaration of Trust and the VRTP Amendment (except as the VRTP
Amendment may be expressly modified by Appendix A), as are set forth in
Appendix A.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series L-2 VRTP
Shares to CAFCO shall result in such Series L-2 VRTP Shares being exchanged for
an equal number of Series C-2 VRTP Shares. The Series C-2 VRTP Shares shall
have preferences, voting powers, restrictions, limitations as to dividends and
other distributions, qualifications and terms and conditions of redemption, in
addition to those required by applicable law and those that are expressly set
forth in the Declaration of Trust and the VRTP Amendment (except as the VRTP
Amendment may be expressly modified by Appendix B), as are set forth in
Appendix B</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.4pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series L-2 VRTP
Shares to CIESCO shall result in such Series L-2 VRTP Shares being exchanged
for an equal number of Series C-3 VRTP Shares. The Series C-3 VRTP Shares shall
have preferences, voting powers, restrictions, limitations as to dividends and
other distributions, qualifications and terms and conditions of redemption, in
addition to those required by applicable law and those that are expressly set
forth in the Declaration of Trust and the VRTP</font></p>









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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">70</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_89"></a><a name="_bclPageBorder89"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:15.1pt;margin-top:3.8pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Amendment (except as the VRTP
Amendment may be expressly modified by the Appendix C), as are set forth in
Appendix C.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.0pt;margin-right:6.4pt;margin-top:.05pt;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series L-2 VRTP
Shares to CRC shall result in such Series L-2 VRTP Shares being exchanged for
an equal number of Series C-4 VRTP Shares. The Series C-4 VRTP Shares shall
have preferences, voting powers, restrictions, limitations as to dividends and
other distributions, qualifications and terms and conditions of redemption, in
addition to those required by applicable law and those that are expressly set
forth in the Declaration of Trust and the VRTP Amendment (except as the VRTP
Amendment may be expressly modified by the Appendix D), as are set forth in
Appendix D.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.0pt;margin-right:0in;margin-top:.05pt;text-align:justify;"><u><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Transfers
In General</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:6.5pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Any transfer of Series L-2 VRTP
Shares shall require delivery of a written notice to the Trust by the
applicable transferor (which may be given at or prior to 3:00 p.m. (New York
City time) on the related Transfer Date) providing the Transfer Date, the
transferee, the amount of Series L-2 VRTP Shares being transferred and the
amount and applicable Series of VRTP Shares being exchanged for such Series L-2
VRTP Shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:5.95pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">As of any Transfer Date, without any
requirement for any further approval by the Board of Trustees or any other
Person (but subject to the transfer restrictions set forth in Section 2.17),
the Trust shall be deemed to have cancelled and reduced the authorized number
of Series L-2 VRTP Shares in an amount equal to the corresponding number of
other Series of VRTP Shares exchanged for Series L-2 VRTP Shares on such
Transfer Date, provided that the aggregate number of VRTP Shares Outstanding at
any time shall not exceed eight-hundred (800).&#160; As of the settlement date for
the transfer of any Series of VRTP Shares other than Series L-2 VRTP Shares to
any Person that (x) is not a Conduit Purchaser and (y) is not a member bank of
the Federal Reserve System (or any successor) (or is not otherwise subject to
Regulation D of the Board of Governors of the Federal Reserve System), without
any requirement for any further approval by the Board of Trustees or any other
Person, the Trust shall be deemed to have increased the authorized number of
and issued Series L-2 VRTP Shares in an amount equal to the corresponding
number of other Series of VRTP Shares being exchanged for Series L-2 VRTP
Shares, provided that the aggregate number of VRTP Shares Outstanding at any
time shall not exceed eight-hundred</font><font face="times new roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.05pt;"> </font><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(800).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:12.35pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Notwithstanding anything to the
contrary in the VRTP Amendment or in any Appendix, accrued but unpaid dividends
on any Series L-2 VRTP Shares that have been exchanged for any other Specified
Series of VRTP Shares shall be payable by the Trust to the applicable
transferor on the second Business Day after the related Transfer Date
notwithstanding that such Series L-2 VRTP Shares have been deemed cancelled
pursuant to the preceding paragraph.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:5.95pt;margin-right:8.45pt;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">If the VRTP Shares of the Specified
Series are required to be redeemed pursuant to the VRTP Amendment or any
Appendix, the Trust shall only be required to redeem Outstanding VRTP Shares of
the Specified Series. If the Outstanding VRTP Shares of any Specified Series
are redeemed, the number of authorized shares of each Specified Series and the
permitted maximum aggregate number of Outstanding VRTP Shares of all Specified
Series permitted shall be deemed reduced by the same number of VRTP Shares
being redeemed.</font></p>















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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font style=""><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">71</font></font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">SCHEDULE I</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">[INDUSTRY CLASSIFICATIONS]</font></b></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Aerospace and Defense </font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Air Transport </font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Automotive</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Beverage and Tobacco</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Brokers, Dealers &amp; Investment Houses </font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Building and Development</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Business Equipment and Services </font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Cable and Satellite TV </font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Chemicals and Plastics</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Clothing - Textiles</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Conglomerates</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Containers and Glass Products </font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Cosmetics/Toiletries</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Drugs</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Ecological Services and Equipment</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Electronics &#8211; Electrical</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Equipment Leasing</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Farming/Agriculture</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Financial Intermediaries</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Food and Drug Retailers</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Food Products</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Food Service</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Forest Products</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Healthcare</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Home Furnishings</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Industrial Equipment</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Insurance</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Leisure Goods &#8211; Activities &#8211; Movies</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Lodging and Casinos</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Nonferrous Materials &#8211; Minerals</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Oil and Gas</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Publishing</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Radio and Television</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Rail Industries</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Retailers (Not Food and Drug)</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Steel</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Surface Transport</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">Telecom</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Utilities</font></p>




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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-I-</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">71</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">-</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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