<SEC-DOCUMENT>0001104659-22-081913.txt : 20220722
<SEC-HEADER>0001104659-22-081913.hdr.sgml : 20220722
<ACCEPTANCE-DATETIME>20220722121312
ACCESSION NUMBER:		0001104659-22-081913
CONFORMED SUBMISSION TYPE:	40-17G
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20220722
DATE AS OF CHANGE:		20220722
EFFECTIVENESS DATE:		20220722

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ABRDN EMERGING MARKETS EQUITY INCOME FUND, INC.
		CENTRAL INDEX KEY:			0000846676
		IRS NUMBER:				222990009
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05770
		FILM NUMBER:		221099220

	BUSINESS ADDRESS:	
		STREET 1:		1900 MARKET STREET
		STREET 2:		SUITE 200
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		215-405-5700

	MAIL ADDRESS:	
		STREET 1:		1900 MARKET STREET
		STREET 2:		SUITE 200
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ABERDEEN EMERGING MARKETS EQUITY INCOME FUND, INC.
		DATE OF NAME CHANGE:	20180501

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ABERDEEN CHILE FUND, INC.
		DATE OF NAME CHANGE:	20100407

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHILE FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>40-17G
<SEQUENCE>1
<FILENAME>a22-20474_104017g.htm
<DESCRIPTION>40-17G
<TEXT>


<html>
<head>



  </head>
<body link=blue lang="EN-US">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman"><img width="210" height="46" src="g2047410bgi001.gif"></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">July&nbsp;22, 2022</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIA EDGAR</font></u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:&#160; Filing Desk</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Securities and Exchange Commission</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100 F Street, N.E.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Washington, D.C. 20549</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 37.4pt;text-indent:-37.4pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">RE:</font></u></b><u><font size="1" style="font-size:3.0pt;">&#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; </font></u><b><u style="font-weight:bold;">abrdn Emerging Markets Equity Income Fund,&nbsp;Inc.</u></b><b><u style="font-weight:bold;"> (the &#147;Fund&#148;) (File Number 811-05770)</u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and Gentlemen:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to Rule&nbsp;17g-1 under the Investment Company Act of 1940, as amended (&#147;1940 Act&#148;), enclosed for filing on behalf of the Fund please find: (i)&nbsp;a copy of a Joint Financial Institutions Bond, Policy Number J06017368 applicable to the Fund and other named insureds (the &#147;Bond&#148;); (ii)&nbsp;a copy of the resolutions approved by the Board of Directors of the Fund at a Board meeting on March&nbsp;15, 2022, which authorize the purchase of the Bond in a form and in an amount which is consistent with Rule&nbsp;17g-1(d)&nbsp;under the 1940 Act; and (iii)&nbsp;a copy of the Agreement Concerning Allocation of Fidelity Bond Premium and Recoveries between the Fund and all of the other named insureds under the Bond.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Premiums have been paid for the period from May&nbsp;14, 2022 to May&nbsp;14, 2023. The Bond is written for a $10,350,000 limit of liability. Had the Fund&#160; not been named as an insured under the Bond,&#160; it would have had to maintain a single insured bond in the amount of $750,000.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sincerely,</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">/s/ Lucia Sitar</font></i></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Lucia Sitar, Vice President</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Emerging Markets Equity Income Fund,&nbsp;Inc.</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Enclosures</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1900 Market Street, Suite&nbsp;200</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Philadelphia, PA 19103</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\111375\22-20474-10\task11629818\20474-10-bg.htm',USER='111375',CD='Jul 21 22:40 2022' -->

<div style="page-break-before:always;"></div>
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Resolution for Approval of Fidelity Bond</font></u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">After discussion, upon motion duly made and seconded, the following resolutions were unanimously adopted at the March&nbsp;15, 2022 Board meeting at which all of the Board members were in attendance:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">RESOLVED</font></b>, that the Fund shall be named as an insured under a joint insured bond (the &#147;Fidelity Bond&#148;) with the other funds in the abrdn Fund complex, covering the officers and the other employees of the Fund from time to time, containing such provisions as may be required by the rules&nbsp;promulgated under the 1940 Act; and it is further</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">RESOLVED</font></b>, that the proposed form and amount of the Fidelity Bond be, and the same hereby are, approved by the Board, including a majority of the Independent Directors, based on such factors including, but not limited to the amount of the Fidelity Bond, the expected value of the assets of the Fund to which any person covered under the Fidelity Bond may have access, the estimated amount of the premium for such Fidelity Bond, the type and terms of the arrangements made for the custody and safekeeping of the Fund&#146;s assets, and the nature of the securities in the Fund&#146;s portfolio; and it is further</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">RESOLVED</font></b>, that the share of the premium to be allocated to the Fund be, and hereby is, approved by the Board, including a majority of the Independent Directors, after having given due consideration to, among other things, the number of other parties insured under the Fidelity Bond, the nature of the business activities of those other parties, the amount of the Fidelity Bond, the amount of the premium for such Fidelity Bond, the ratable allocation of the premium among the parties named as insureds, and the extent to which the share of the premium allocated to the Fund under the Fidelity Bond is less than the premium that the Fund would have had to pay had it maintained a comparable single insured bond; and it is further</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">RESOLVED</font></b>, that the officers of the Fund be, and each of them hereby is, authorized and empowered to obtain the Fidelity Bond and pay the premium thereof; and it is further</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">RESOLVED</font></b>, that an agreement certain funds in the abrdn Fund complex (including the Fund) providing that in the event that any recovery is received under the Fidelity Bond as a result of a loss sustained by the Fund and also by any other named insured, the Fund shall receive an equitable and proportionate share of the recovery, but in no event less than the amount it would have received had it provided and maintained a single insured bond with the minimum coverage required by paragraph (d)(1)&nbsp;of Rule&nbsp;17g-1 is approved with such changes as the officers of the Fund with the advice of Fund counsel may determine to be necessary or desirable and proper, the execution of said joint fidelity bond agreement by such officers to be conclusive evidence of such determination; and it is further</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">RESOLVED</font></b>, that the proper officers of the Fund are authorized and empowered to take such action with respect to obtaining additional fidelity bond coverage as they deem it necessary or appropriate pursuant to Rule&nbsp;17g-1 under the 1940 Act; and it is further</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">RESOLVED</font></b>, that the Secretary of the Fund, or her designee, be, and hereby is, designated as the party responsible for making the necessary filings and giving of notices with respect to the Fidelity Bond required by paragraph (g)&nbsp;of Rule&nbsp;17g-1 under the 1940 Act; and it is further</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">RESOLVED</font></b>, that the officers of the Fund be, and each of them hereby is, authorized and empowered to execute and deliver all instruments, certificates, agreements, or other documents and to do and perform any and all other acts and things that any such officer shall determine to be necessary, appropriate or desirable for the implementation of the foregoing resolutions or to effect or accomplish the intent of the foregoing resolutions, any such determination to be conclusively evidenced by the execution and delivery by any officer of </p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\111375\22-20474-10\task11629818\20474-10-bg.htm',USER='111375',CD='Jul 21 22:40 2022' -->

<div style="page-break-before:always;"></div>
<div>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">any such instrument, certificate or other document or the doing or performing by any officer of any such act or thing.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\111375\22-20474-10\task11629818\20474-10-bg.htm',USER='111375',CD='Jul 21 22:40 2022' -->


<div style="page-break-before:always;"></div>
<!--$$/page=--><A name="page_1"></A><BR>

<a name="_bclPageBorder1"></a><DIV style="PADDING-LEFT:0%; PADDING-RIGHT:0%">

<DIV align="left">

<TABLE cellSpacing="0" border="0">



<TR>

   <TD width="9%"></TD>

   <TD width="4%"></TD>

   <TD width="28%"></TD>

   <TD width="34%"></TD>

   <TD width="2%"></TD>

   <TD width="20%"></TD></TR>

<TR vAlign="bottom">

   <TD align="left"></TD>

   <TD align="left"></TD>

   <TD align="left"></TD>

   <TD align="left"></TD>

   <TD align="right"></TD>

   <TD align="right"></TD></TR>

<TR>

   <TD colSpan="6"></TD></TR>

<TR vAlign="bottom">

   <TD align="left"></TD>

   <TD align="left"></TD>

   <TD align="left"></TD>

   <TD align="left"></TD>

   <TD align="right"></TD>

   <TD align="right"></TD></TR>

<TR>

   <TD colSpan="6"></TD></TR>

<TR vAlign="bottom">

   <TD align="left"></TD>

   <TD colSpan="2" align="center"></TD>

   <TD align="left"></TD>

   <TD align="right"></TD>

   <TD align="left"></TD></TR>

<TR>

   <TD colSpan="6"></TD></TR>

<TR vAlign="bottom">

   <TD align="left"></TD>

   <TD style="TEXT-INDENT:4.5pt" colSpan="3" align="left"></TD>

   <TD align="right"></TD>

   <TD align="left"></TD></TR>

<TR vAlign="bottom">

   <TD align="left"></TD>

   <TD style="TEXT-INDENT:4.5pt" colSpan="2" align="left"></TD>

   <TD align="left"></TD>

   <TD align="right"></TD>

   <TD align="left"></TD></TR>

<TR vAlign="bottom">

   <TD align="left"></TD>

   <TD style="TEXT-INDENT:4.5pt" colSpan="2" align="left"></TD>

   <TD align="left"></TD>

   <TD align="right"></TD>

   <TD align="left"></TD></TR>

<TR vAlign="bottom">

   <TD align="left"></TD>

   <TD style="TEXT-INDENT:7.199pt" colSpan="2" align="left"></TD>

   <TD align="left"></TD>

   <TD align="right"></TD>

   <TD align="left"></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="6" align="left"></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="2" align="left"></TD>

   <TD align="left"></TD>

   <TD align="left"></TD>

   <TD align="right"></TD>

   <TD align="left"></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="2" align="left"></TD>

   <TD align="left"></TD>

   <TD align="left"></TD>

   <TD align="right"></TD>

   <TD align="left"></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="6" align="left"></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="4" align="left"></TD>

   <TD align="right"></TD>

   <TD align="left"></TD></TR>

<TR vAlign="bottom">

   <TD style="BORDER-BOTTOM:#000000 1px solid" colSpan="4" align="left"></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right"></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left"></TD></TR>

<TR vAlign="bottom">

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left"></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left"></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left"></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="center"></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right"></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right"></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="3" align="left"></TD>

   <TD align="center"></TD>

   <TD align="right"></TD>

   <TD align="right"></TD></TR>

<TR vAlign="bottom">

   <TD style="BORDER-BOTTOM:#000000 1px solid" colSpan="2" align="left"></TD>

   <TD style="BORDER-BOTTOM:#000000 3px double" align="left"></TD>

   <TD style="BORDER-BOTTOM:#000000 3px double" align="left"></TD>

   <TD style="BORDER-BOTTOM:#000000 3px double" align="right"></TD>

   <TD style="BORDER-BOTTOM:#000000 3px double" align="left"></TD></TR>

<TR vAlign="bottom">

   <TD align="left"></TD>

   <TD align="left"></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" colSpan="2" align="center"></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right"></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right"></TD></TR>

<TR>

   <TD colSpan="6"></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="6" align="center"></TD></TR>

<TR>

   <TD colSpan="6"></TD></TR>

<TR>

   <TD colSpan="6"></TD></TR>

<TR>

   <TD colSpan="6"></TD></TR>

<TR>

   <TD colSpan="6"></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="3" align="left"></TD>

   <TD align="left"></TD>

   <TD align="right"></TD>

   <TD align="left"></TD></TR></TABLE></DIV>

<P style="MARGIN:0px">&nbsp;</P></DIV>

<HR align="center" SIZE="2" width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE:always">&nbsp;</DIV>


<!--$$/page=-->
<A name="page_2"></A><BR>

<a name="_bclPageBorder2"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="6%"></TD>
     <TD width="3%"></TD>
     <TD width="2%"></TD>
     <TD width="13%"></TD>
     <TD width="7%"></TD>
     <TD width="13%"></TD>
     <TD width="2%"></TD>
     <TD width="26%"></TD>
     <TD width="2%"></TD>
     <TD width="20%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="center" colspan="3">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="center" colspan="3" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD colspan="10">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="4">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">DECLARATIONS</FONT></B></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="left" colspan="3" style="TEXT-INDENT:27.135986pt">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">FEDERAL INSURANCE COMPANY</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="left" colspan="3" style="TEXT-INDENT:27.135986pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Incorporated under the laws of Indiana, a stock</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Name of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">:</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="left" colspan="3" style="TEXT-INDENT:27.135986pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">insurance company, herein called the Company</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">ABRDN FUNDS</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="left" colspan="3" style="TEXT-INDENT:27.135986pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">One American Square 202 N Illinois Street,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Address of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">:</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="left" style="TEXT-INDENT:27.135986pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Suite 2600</FONT></TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="5">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">1900 MARKET STREET, SUITE 200</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="left" style="TEXT-INDENT:27.135986pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Indianapolis, IN 46282</FONT></TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="4" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PHILADELPHIA, PA 19103</FONT></TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" colspan="3" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Bond Number: J06017368</FONT></TD>
</TR>
<TR>
	<TD colspan="10">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="10">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">THIS IS NONPARTICIPATING WITH REGARD TO PAYING DIVIDENDS TO BONDHOLDERS.</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Item 1.</FONT></TD>
	<TD align="left" colspan="3" style="TEXT-INDENT:1.149994pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Bond Period:</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">From:</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">May 14, 2022</FONT></TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">To:</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">May 14, 2023</FONT></TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="center" colspan="10">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">At 12:01 A.M. local time at the Address of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Item 2.</FONT></TD>
	<TD align="left" colspan="7" style="TEXT-INDENT:1.149994pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Single Loss Limits Of Liability &#150; Deductible Amounts:</FONT></TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3" style="TEXT-INDENT:39.996017pt">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Insuring Clause</FONT></B></TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="center">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Single Loss Limit Of</FONT></B></TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="left">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Deductible Amount</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="left" style="TEXT-INDENT:30.105988pt">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Liability</FONT></B></TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Employee</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:33.225922pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">10,350,000</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:12.025940pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">0</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">On Premises</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:33.225922pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">10,350,000</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:12.025940pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">50,000</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">In Transit</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:33.225922pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">10,350,000</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:12.025940pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">50,000</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">4</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Forgery Or Alteration</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:33.225922pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">10,350,000</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:12.025940pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">50,000</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">5</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Extended Forgery</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:33.225922pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">10,350,000</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:12.025940pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">50,000</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">6</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Counterfeit Money</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:33.225922pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">10,350,000</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:12.025940pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">50,000</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">7</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Computer System Fraud</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:33.225922pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">10,350,000</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:12.025940pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">50,000</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">8</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Claims Expense</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:33.225922pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">10,000</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:12.025940pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">0</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">9</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Audit Expense</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:33.225922pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">10,000</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:12.025940pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">0</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="5">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">10. Uncollectible Items Of Deposit</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:33.225922pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">10,350,000</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:12.025940pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">50,000</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">11</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Voice Initiated Funds Transfer</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:33.225922pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">10,350,000</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;</FONT></TD>
	<TD align="left" style="TEXT-INDENT:12.025940pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">50,000</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Instruction</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903D_PA (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 1 of 2</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_3"></A><BR>

<a name="_bclPageBorder3"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="100%"></TD></TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:317.237976pt">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">IN WITNESS WHEREOF, the Company has caused this Bond to be signed by its Authorized Officers, but it shall</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">not be valid unless also signed by a duly authorized representative of the Company.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="center">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">FEDERAL INSURANCE COMPANY</FONT></B></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>

<BR>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903D_PA (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 2 of 2</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_4"></A><BR>

<a name="_bclPageBorder4"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="100%"></TD></TR>
<TR valign="bottom">
	<TD align="center">
<B><FONT size="3" face="Georgia-Bold,Arial,Helvetica,sans-serif">POLICYHOLDER DISCLOSURE</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="center">
<B><FONT size="3" face="Georgia-Bold,Arial,Helvetica,sans-serif">NOTICE OF</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="center">
<B><FONT size="3" face="Georgia-Bold,Arial,Helvetica,sans-serif">TERRORISM INSURANCE COVERAGE (for</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="center">
<B><FONT size="3" face="Georgia-Bold,Arial,Helvetica,sans-serif">policies with no terrorism exclusion or sublimit)</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="center">
<B><FONT size="3" face="Georgia-Bold,Arial,Helvetica,sans-serif">Insuring Company: Federal Insurance</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="center">
<B><FONT size="3" face="Georgia-Bold,Arial,Helvetica,sans-serif">Company</FONT></B></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">You are hereby notified that, under the Terrorism Risk Insurance Act (the &#147;Act&#148;), this policy makes available</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to you insurance for losses arising out of certain acts of terrorism. Terrorism is defined as any act certified</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">by the Secretary of the Treasury of the United States, to be an act of terrorism; to be a violent act or an act</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">that is dangerous to human life, property or infrastructure; to have resulted in damage within the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">United States, or outside the United States in the case of an air carrier or vessel or the premises of a United</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">States Mission; and to have been committed by an individual or individuals as part of an effort to coerce the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">civilian population of the United States or to influence the policy or affect the conduct of the United States</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Government by coercion.</FONT></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">You should know that the insurance provided by your policy for losses caused by acts of terrorism is</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">partially reimbursed by the United States under the formula set forth in the Act. Under this formula, the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">United States pays 85% of covered terrorism losses that exceed the statutorily established deductible to be</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">paid by the insurance company providing the coverage. Beginning in 2016, the Federal share will be</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">reduced by 1% per year until it reaches 80%, where it will remain.</FONT></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">However, if aggregate insured losses attributable to terrorist acts certified under the Act exceed &#36;100</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">billion in a calendar year, the Treasury shall not make any payment for any portion of the amount of such</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">losses that exceeds &#36;100 billion.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">10-02-1281 (03/15)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 1 of 2</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_5"></A><BR>

<a name="_bclPageBorder5"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="3%"></TD>
     <TD width="96%"></TD></TR>
<TR valign="bottom">
	<TD align="right">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">If aggregate insured losses attributable to terrorist acts certified under the Act exceed</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#36;100 billion in a calendar year and we have met our insurer deductible under the Act, we shall not be</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">liable for the payment of any portion of the amount of such losses that exceeds &#36;100 billion, and in such</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">case insured losses up to that amount are subject to pro rata allocation in accordance with procedures</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">established by the Secretary of the Treasury.</FONT></TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The portion of your policy&#146;s annual premium that is attributable to insurance for such acts of terrorism is: &#36;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">-0-</FONT></B></TD>
	<TD align="left" style="TEXT-INDENT:14.131058pt">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">.</FONT></B></TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">If you have any questions about this notice, please contact your agent or broker.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">10-02-1281 (03/15)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 2 of 2</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_6"></A><BR>

<a name="_bclPageBorder6"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="100%"></TD></TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Important Notice</FONT></B></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">The SEC Requires Proof of Your Fidelity Insurance Policy</FONT></B></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Your company is now required to file an electronic copy of your fidelity insurance coverage (Chubb&#146;s ICAP Bond</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">policy) to the Securities and Exchange Commission (SEC), according to rules adopted by the SEC on June 12,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">2006.</FONT></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Chubb is in the process of providing your agent/broker with an electronic copy of your insurance policy as well as</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">instructions on how to submit this proof of fidelity insurance coverage to the SEC. You can expect to receive this</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">information from your agent/broker shortly.</FONT></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The electronic copy of your policy is provided by Chubb solely as a convenience and does not affect the terms and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">conditions of coverage as set forth in the paper policy you receive by mail. The terms and conditions of the policy</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">mailed to you, which are the same as those set forth in the electronic copy, constitute the entire agreement</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">between your company and Chubb.</FONT></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">If you have any questions, please contact your agent or broker.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">14-02-12160 (08/19)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 1 of 1</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_7"></A><BR>

<a name="_bclPageBorder7"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="2%"></TD>
     <TD width="97%"></TD></TR>
<TR valign="bottom">
	<TD align="center" colspan="2">
<B><FONT size="4" face="Arial-BoldMT,Arial,Helvetica,sans-serif">Notice of Loss Control Services</FONT></B></TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Insuring Company: Federal Insurance Company</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">As a Chubb policyholder, you have loss prevention information and/or services available to you, as</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">listed in this Notice. You may order any brochure by email to </FONT><FONT color="#0000ff" size="2" face="Arial,Arial,Helvetica,sans-serif">formsordering@chubb.com </FONT><FONT size="2" face="Arial,Arial,Helvetica,sans-serif">and to view</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2" style="border-bottom:1px solid #000000">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">our full suite of loss prevention brochures/services go to </FONT><FONT color="#0000ff" size="2" face="Arial,Arial,Helvetica,sans-serif">www.chubb.com/us/fl-lossprevention</FONT></TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="center" colspan="2">
<B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">Directors and Officers (D&amp;O) Liability Loss Prevention Services</FONT></B></TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">&#149;</FONT></TD>
	<TD align="left">
<B><I><FONT size="2" face="Arial-BoldItalicMT,Arial,Helvetica,sans-serif">Directors and Officers Liability Loss Prevention </FONT></I></B><B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">Manuals:</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Directors and Officers Liability Loss Preventions &#150; #14-01-0035</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Directors and Officers Securities Litigation Loss Preventions &#150; #14-01-0448</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Director Liability Loss Prevention in Mergers and Acquisitions &#150; #14-01-1099</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Directors and Officers Liability Loss Prevention for Not-for-Profit- -#14-01-0036</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Cyber Loss Mitigation for Directors -#14-01-1199</FONT></TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="center" colspan="2">
<B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">Employment Practices Liability (EPL) Loss Prevention Services</FONT></B></TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">&#149;</FONT></TD>
	<TD align="left">
<B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">Toll-free Hot Line</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Have a question on how to handle an employment situation? Simply call </FONT><B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">1.888.249.8425 </FONT></B><FONT size="2" face="Arial,Arial,Helvetica,sans-serif">to access</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">the nationally known employment law firm of Jackson Lewis P.C. We offer customers an unlimited</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">number of calls to the hot line at no additional charge.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">&#149;</FONT></TD>
	<TD align="left">
<B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">ChubbWorks.com</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">ChubbWorks.com is a web-based platform that offers multiple services including overviews of</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">employment laws, sample employment policies and procedures, and on-line training. To gain</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">immediate access to ChubbWorks go to </FONT><B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">www.chubbworks.com </FONT></B><FONT size="2" face="Arial,Arial,Helvetica,sans-serif">and register using your policy</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">number.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">&#149;</FONT></TD>
	<TD align="left">
<B><I><FONT size="2" face="Arial-BoldItalicMT,Arial,Helvetica,sans-serif">Employment Practices Loss Prevention Guidelines </FONT></I></B><B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">Manual</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<I><FONT size="2" face="Arial-ItalicMT,Arial,Helvetica,sans-serif">Employment Practices Loss Prevention Guidelines - #14-01-0061</FONT></I></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">&#149;</FONT></TD>
	<TD align="left">
<B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">Loss Prevention Consultant Services</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Chubb has developed a network of more than 120 law firms, human resources consulting firms, and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">labor economist/statistical firms that offer specialized services for employment issues.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">&#149;</FONT></TD>
	<TD align="left">
<B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">Public Company EPL Customers</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Employment Practices Loss Prevention Guidelines &#150; Written by Seyfarth Shaw exclusively for</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Chubb this manual provides an overview of key employment issues faced by for-profit companies</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">and offers proactive idea for avoiding employment lawsuits.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">&#149;</FONT></TD>
	<TD align="left">
<B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">Private Company EPL Customers</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Employment Practices Loss Prevention Guidelines &#150; Written by Seyfarth Shaw exclusively for</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Chubb this manual provides an overview of key employment issues for &#150;profit companies and offers</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">proactive idea for avoiding employment lawsuits.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">14-02-23030 (05/2018)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Page 1 of 2</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_8"></A><BR>

<a name="_bclPageBorder8"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="2%"></TD>
     <TD width="97%"></TD></TR>
<TR valign="bottom">
	<TD align="center" colspan="2">
<B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">Fiduciary Liability Loss Prevention Services</FONT></B></TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">&#149;</FONT></TD>
	<TD align="left">
<B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">Fiduciary Liability Loss Prevention Manual</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Who May Sue You and Why: How to Reduce Your ERISA Risks and the Role of Fiduciary</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Liability Insurance #14-01-1019</FONT></TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="center" colspan="2">
<B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">Crime Loss Prevention Services</FONT></B></TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">&#149;</FONT></TD>
	<TD align="left">
<B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">Crime/Kidnap, Ransom &amp; Extortion Loss Prevention Manual</FONT></B></TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Preventing Fraud: How Anonymous Hotlines Can Help #14-01-1090</FONT></TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="center" colspan="2">
<B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">Cyber Security Loss Prevention Services</FONT></B></TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Visit: </FONT><FONT color="#0000ff" size="2" face="Arial,Arial,Helvetica,sans-serif">https://www2.chubb.com/us-en/business-insurance/cyber-security.aspx </FONT><FONT size="2" face="Arial,Arial,Helvetica,sans-serif">to learn more</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">about Chubb&#146;s Cyber Services for our policyholders.</FONT></TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="center">
<B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">Health Care Directors and Officers (D&amp;O) Liability Loss Prevention Services</FONT></B></TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">&#149;</FONT></TD>
	<TD align="left">
<B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">Readings in Health Care Governance Manual</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Readings in Health Care Governance -#14-01-0788</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">&#149;</FONT></TD>
	<TD align="left">
<B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">ChubbWorks.com</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">ChubbWorks.com for Health Care Organizations &#150; The Health Care Zone is a free online</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">resource containing health care specific loss prevention information for employment practices</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">liability, directors and officers (D&amp;O) liability, and fiduciary liability exposures. To gain</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">immediate access to ChubbWorks go to </FONT><B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">www.chubbworks.com </FONT></B><FONT size="2" face="Arial,Arial,Helvetica,sans-serif">and register using your policy</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">number.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">&#149;</FONT></TD>
	<TD align="left">
<B><FONT size="2" face="Arial-BoldMT,Arial,Helvetica,sans-serif">Health Care D&amp;O Loss Prevention Consultant Services</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Health Care D&amp; O Loss Prevention Consultant Services- #14-01-1164</FONT></TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="2">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="center" colspan="2">
<I><FONT size="2" face="Arial-ItalicMT,Arial,Helvetica,sans-serif">--------------------</FONT></I></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">The services provided are advisory in nature. While this program is offered as a resource in</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">developing or maintaining a loss prevention program, you should consult competent legal counsel</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">to design and implement your own program. No liability is assumed by reason of the services,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">access or information provided. All services are subject to change without notice.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">14-02-23030 (05/2018)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Arial,Arial,Helvetica,sans-serif">Page 2 of 2</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_9"></A><BR>

<a name="_bclPageBorder9"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="100%"></TD></TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Notice to Policyholders</FONT></B></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Insuring Company: Federal Insurance Company</FONT></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Enclosed is your commercial insurance policy from Chubb. The bill that corresponds with this policy has been</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">mailed separately. When you receive the bill, please pay the amount due by the date indicated. Payment should</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">be made directly to Chubb. As always, prompt payment will keep your coverage in place.</FONT></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">If you have any questions about the attached policy or need assistance with additional insurance, contact your</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">agent or broker. For questions about billing, call our Premium Accounting Service Center at 1-800-372-4822.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Thank you for insuring through Chubb.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">99-10-0460B (08/19)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 1 of 1</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_10"></A><BR>

<a name="_bclPageBorder10"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="100%"></TD></TR>
<TR valign="bottom">
	<TD align="center">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Chubb Producer Compensation</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="center">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Practices &amp; Policies</FONT></B></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Chubb believes that policyholders should have access to information about Chubb's practices and policies related</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to the payment of compensation to brokers and independent agents. You can obtain that information by accessing</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">our website at </FONT><FONT color="#0000ff" size="2" face="Georgia,Arial,Helvetica,sans-serif">http://www.chubbproducercompensation.com </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or by calling the following toll-free telephone</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">number:</FONT></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">1-866-512-2862.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">ALL-20887a (09/19)</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_11"></A><BR>

<a name="_bclPageBorder11"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="100%"></TD></TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:302.400024pt">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Trade or Economic</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Sanctions Notice</FONT></B></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="center">
<B><FONT size="3" face="Georgia-Bold,Arial,Helvetica,sans-serif">TRADE OR ECONOMIC SANCTIONS NOTICE</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">This insurance does not apply to the extent that trade or economic sanctions or other laws or regulations prohibit</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">us from providing insurance, including, but not limited to, the payment of claims. All other terms and conditions</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of the policy remain unchanged.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">ALL-21101 (09/19)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 1 of 1</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_12"></A><BR>

<a name="_bclPageBorder12"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="1%"></TD>
     <TD width="2%"></TD>
     <TD width="95%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">IMPORTANT NOTICE TO</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:3px double #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:3px double #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:3px double #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">POLICYHOLDERS</FONT></B></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="center" colspan="3">
<B><FONT size="5" face="Georgia-Bold,Arial,Helvetica,sans-serif">Social Engineering Tips</FONT></B></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="center" colspan="3" style="border-bottom:1px solid #000000">
<B><FONT size="5" face="Georgia-Bold,Arial,Helvetica,sans-serif">Please read!</FONT></B></TD>
</TR>
<TR>
	<TD colspan="3"><HR noshade size="1"></TD></TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="center">
<B><FONT size="3" face="Georgia-Bold,Arial,Helvetica,sans-serif">HAVE YOU BEEN TRICKED INTO WIRE FRAUD? TAKE IMMEDIATE ACTION!</FONT></B></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">If you believe you have transferred funds to a criminal posing as a legitimate business associate, you should act</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">quickly:</FONT></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Immediately contact the originating bank and </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">request a recall of the wire transfer </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and confirm that</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">recall in writing.</FONT></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Immediately file a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">complaint with the FBI </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">at </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">www.ic3.gov</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">. This reporting triggers the FBI&#146;s Recovery Asset</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Team and the FBI&#146;s assistance seeking return of the wire transfer.</FONT></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Preserve </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">records of the incident</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, including emails sent and received </FONT><I><FONT size="2" face="Georgia-Italic,Arial,Helvetica,sans-serif">in their original electronic state</FONT></I><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Correspondence and forensic information contained in these electronic files help investigators shed light on</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the perpetrator(s), and parties responsible for the incident.</FONT></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">4</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Once the above steps are complete, </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">contact Chubb </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">per the instructions in your policy.</FONT></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">While neither recalling the wire transfer nor reporting to the FBI guarantees the return of your funds, these steps</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">maximize the opportunity to mitigate your loss, assist the FBI in tracing the funds and help establish any</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">insurance claim.</FONT></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3" style="border-bottom:1px solid #000000">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Simple Steps to Prevent Fraudulently Induced Wire Transfers</FONT></B></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Email communication is efficient, but it is not a secure method of communication. Regardless of your familiarity</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">with a contact, that contact&#146;s </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">email may be intercepted, altered and fabricated</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">. You may reduce the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">chances of fraud by following these best practices:</FONT></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="right">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Verify Email Requests by Telephone</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">: Require those responsible for paying invoices or changing bank</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">routing information to verify payment details over the phone, rather than by email or documents sent</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">electronically. Making a phone call to a known, pre-existing telephone number remains the single best</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">protection against fraud.</FONT></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="right">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Segregate Wire Transfer Responsibilities</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">: Establish a standing policy that requires at least three people</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to review and approve wire transfer requests, pay an invoice or change a business partner&#146;s bank account</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">information. Such requests should be entered by the initiator of the wire and verified by two independent</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">signatories.</FONT></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="right">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Turn on MFA for Cloud Email</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">: Multifactor Authentication is available from all major email providers. It</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">provides a layer of security to email accounts beyond a user&#146;s account name and password, making it harder</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">for criminals to impersonate you, your executives and your employees.</FONT></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<I><FONT size="2" face="Georgia-Italic,Arial,Helvetica,sans-serif">This document is for information only. It is offered as a resource to be used together with your professional</FONT></I></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<I><FONT size="2" face="Georgia-Italic,Arial,Helvetica,sans-serif">insurance advisers in maintaining a loss prevention program. No liability is assumed by reason of the</FONT></I></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<I><FONT size="2" face="Georgia-Italic,Arial,Helvetica,sans-serif">information this document contains.</FONT></I></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">ALL-317454 (03/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 1 of 1</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_13"></A><BR>

<a name="_bclPageBorder13"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="100%"></TD></TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:203.183014pt">
<B><FONT size="5" face="Georgia-Bold,Arial,Helvetica,sans-serif">U. S. Treasury Department&#146;s Office</FONT></B></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:191.631012pt">
<B><FONT size="5" face="Georgia-Bold,Arial,Helvetica,sans-serif">Of Foreign Assets Control (&#147;OFAC&#148;)</FONT></B></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:217.578003pt">
<B><FONT size="5" face="Georgia-Bold,Arial,Helvetica,sans-serif">Advisory Notice to Policyholders</FONT></B></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">This Policyholder Notice shall not be construed as part of your policy and no coverage is provided by this</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Policyholder Notice nor can it be construed to replace any provisions of your policy. You should read your</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">policy and review your Declarations page for complete information on the coverages you are provided.</FONT></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">This Notice provides information concerning possible impact on your insurance coverage due to directives</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">issued by OFAC. </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Please read this Notice carefully.</FONT></B></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The Office of Foreign Assets Control (OFAC) administers and enforces sanctions policy, based on</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Presidential declarations of "national emergency". OFAC has identified and listed numerous:</FONT></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:36.000000pt">
<FONT size="2" face="Wingdings-Regular,WingDings">l </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Foreign agents;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:36.000000pt">
<FONT size="2" face="Wingdings-Regular,WingDings">l </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Front organizations;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:36.000000pt">
<FONT size="2" face="Wingdings-Regular,WingDings">l </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Terrorists;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:36.000000pt">
<FONT size="2" face="Wingdings-Regular,WingDings">l </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Terrorist organizations; and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:36.000000pt">
<FONT size="2" face="Wingdings-Regular,WingDings">l </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Narcotics traffickers;</FONT></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">as "Specially Designated Nationals and Blocked Persons". This list can be located on the United States</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Treasury's web site &#150; http//www. treas. gov/ofac.</FONT></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">In accordance with OFAC regulations, if it is determined that you or any other insured, or any person or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">entity claiming the benefits of this insurance has violated U. S. sanctions law or is a Specially Designated</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">National and Blocked Person, as identified by OFAC, this insurance will be considered a blocked or frozen</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">contract and all provisions of this insurance are immediately subject to OFAC. When an insurance policy</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is considered to be such a blocked or frozen contract, no payments nor premium refunds may be made</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">without authorization from OFAC. Other limitations on the premiums and payments also apply.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="26%"></TD>
     <TD width="53%"></TD>
     <TD width="19%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-17914a (04/16)</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Reprinted, in part, with permission of</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 1 of 1</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left" style="TEXT-INDENT:44.966003pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">ISO Properties, Inc.</FONT></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_14"></A><BR>

<a name="_bclPageBorder14"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="100%"></TD></TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Notice to Policyholders</FONT></B></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="center">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">QUESTIONS ABOUT YOUR INSURANCE?</FONT></B></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Answers to questions about your insurance, coverage information, or assistance in resolving</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">complaints can be obtained by contacting:</FONT></B></TD>
</TR>
<TR>
	<TD>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:151.200012pt">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">CHUBB</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="center">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer Support Service Department</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:151.200012pt">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">436 Walnut Street</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:151.200012pt">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">PO Box 1000</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:151.200012pt">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Philadelphia, PA 19106-3703</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:151.200012pt">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">1-800-352-4462</FONT></B></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-17993a (04/20)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 1 of 1</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_15"></A><BR>

<a name="_bclPageBorder15"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="6%"></TD>
     <TD width="2%"></TD>
     <TD width="3%"></TD>
     <TD width="3%"></TD>
     <TD width="83%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="5">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The Company, in consideration of the premium paid, and in reliance on the Application and all other statements</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="5">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">made and information furnished to the Company by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, and subject to the Declarations made part of this</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="5" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Bond and to all other terms, conditions, and limitations of this Bond, agrees to pay the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">for:</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">I.</FONT></B></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">INSURING CLAUSES</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Employee</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Loss resulting directly from </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Larceny or Embezzlement </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">committed by any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">acting alone or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in collusion with others.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">On Premises</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Loss of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">resulting directly from:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">robbery, burglary, misplacement, mysterious unexplainable disappearance, damage or destruction; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="right" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">false pretenses, or common law or statutory larceny, committed by a natural person while on the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">premises of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">while the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is lodged or deposited at premises located anywhere.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">For the purpose of coverage under this Insuring Clause 2, the premises of securities depositories shall be</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">deemed to be premises of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, but only with respect to the loss of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Certificated Securities</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Certificated Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">held by such depositories shall be deemed to be </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, but only to the extent</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">interest therein as detailed in the books and records of such depositories.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">In Transit</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Loss of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">resulting directly from common law or statutory larceny, misplacement, mysterious</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">unexplainable disappearance, damage or destruction, while the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is in transit anywhere in:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">an armored motor vehicle, including loading and unloading thereof;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the custody of a natural person acting as a messenger of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>
	<TD align="right" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the custody of a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Transportation Company </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and being transported in a conveyance other than an</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">armored motor vehicle, provided that covered </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">transported in such manner is limited to the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">following:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1)</FONT></TD>
	<TD align="left">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Written </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">records;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2)</FONT></TD>
	<TD align="right">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Certificated Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">issued in registered form, which are not endorsed or are restrictively</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">endorsed; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(3)</FONT></TD>
	<TD align="right">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Negotiable Instruments </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">not payable to bearer, which are not endorsed or are restrictively</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">endorsed.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Coverage under this Insuring Clause 3 begins immediately on the receipt of such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">by the armored</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">motor vehicle, natural person messenger, or </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Transportation Company </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and ends immediately on</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">delivery to the premises of the addressee or to any representative of the addressee located anywhere.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">4</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Forgery Or Alteration</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Loss resulting directly from the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">having, in good faith:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">transferred, paid, or delivered any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">established any credit or given any value,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in reliance on any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Written </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Original</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">:</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903 (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 1 of 17</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_16"></A><BR>

<a name="_bclPageBorder16"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="2%"></TD>
     <TD width="2%"></TD>
     <TD width="3%"></TD>
     <TD width="3%"></TD>
     <TD width="2%"></TD>
     <TD width="3%"></TD>
     <TD width="80%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD colspan="7">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="7">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Negotiable Instrument </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(other than an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Evidence of Debt</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">);</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Acceptance</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Withdrawal Order </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or receipt for the withdrawal of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(4</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Certificate of Deposit</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(5</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Letter of Credit</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(6</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">instruction or advice directed to the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and purportedly signed by any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, any</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">financial institution, or any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">which</FONT></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">i.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">bears a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Forgery</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">ii.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is fraudulently materially altered.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="5">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">For the purpose of this Insuring Clause 4, a reproduction of a handwritten signature is treated the same as</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="5">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the handwritten signature. An electronic or digital signature is not treated as a reproduction of a</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="5">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">handwritten signature.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">5</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="5">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Extended Forgery</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="5">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Loss resulting directly from the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">having, in good faith, for its own account or the account of others:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">acquired, sold or delivered, given value, extended credit or assumed liability in reliance on any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Written</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Original</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Certificated Security</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">deed, mortgage or other instrument conveying title to, or creating or discharging a lien on, real</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">property;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Evidence of Debt</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(4</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Instruction</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">which</FONT></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">i.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">bears a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Forgery</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, but only to the extent the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Forgery </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">directly causes the loss;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">ii.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is fraudulently materially altered, but only to the extent the alteration directly causes the loss;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">iii.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is lost or stolen;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">guaranteed in writing or witnessed any signature on any:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">transfer;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">assignment;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">bill of sale;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(4</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">power of attorney; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(5</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">endorsement upon any item listed in a.(1) through a.(4) above,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">but only to the extent that such guarantee or signature directly causes the loss; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">acquired, sold or delivered, or given value, extended credit or assumed liability in reliance on any item</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">listed in a.(1) or a.(2) above which is a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Counterfeit Original</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, but only to the extent the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Counterfeit</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Original </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">directly causes the loss.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903 (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 2 of 17</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_17"></A><BR>

<a name="_bclPageBorder17"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="3%"></TD>
     <TD width="2%"></TD>
     <TD width="3%"></TD>
     <TD width="90%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD colspan="4">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="4">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Actual physical possession, and continued actual physical possession if taken as collateral, of the items</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">listed in a.(1) through a.(4) above by an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Custodian</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, or a federal or state chartered deposit</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">institution of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is a condition precedent to the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">having relied on such items. Release</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or return of such collateral is an acknowledgment by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">that it no longer relies on such collateral.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">For the purpose of this Insuring Clause 5, a reproduction of a handwritten signature is treated the same as</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the handwritten signature. An electronic or digital signature is not treated as a reproduction of a</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">handwritten signature.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">6</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Counterfeit Money</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Loss resulting directly from the receipt by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in good faith of counterfeit </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Money</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">7</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Computer System Fraud</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Loss resulting directly from the:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">withdrawal, transfer, payment, or delivery of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">creation, deletion, debiting, or crediting of an account of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">which results directly from a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Network Intrusion</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">8</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Claims Expense</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Claims Expenses </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">incurred by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in determining the amount of covered loss under this Bond</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in excess of the applicable Deductible Amount.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">9</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Audit Expense</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Audit Expenses </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">incurred by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">by reason of the discovery of loss covered under Insuring</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Clause 1.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">10</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Uncollectible Items Of Deposit</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Loss resulting directly from the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">having credited an account of a customer, shareholder, or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">subscriber on the faith of any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Items of Deposit </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">which prove to be uncollectible, provided that the crediting</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of such account causes:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">redemptions or withdrawals to be permitted;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shares to be issued; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">dividends to be paid,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">from an account of an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">As a condition precedent to coverage under this Insuring Clause 10, the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">must hold </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Items of</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Deposit </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">for the minimum number of days stated in the Application before permitting any redemptions or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">withdrawals, issuing any shares, or paying any dividends with respect to such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Items of Deposit</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Items of Deposit </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall not be deemed uncollectible until the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">standard collection procedures</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">have failed.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">11</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Voice Initiated Funds Transfer Instruction</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Loss resulting directly from the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">having, in good faith, transferred, paid, or delivered </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Money </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in reliance upon any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Voice Initiated Funds Transfer Instruction </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">that purports, and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">reasonably appears, to have originated from:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">acting on instructions of such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903 (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 3 of 17</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_18"></A><BR>

<a name="_bclPageBorder18"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="2%"></TD>
     <TD width="3%"></TD>
     <TD width="2%"></TD>
     <TD width="3%"></TD>
     <TD width="87%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>
	<TD align="center">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a financial institution acting on behalf of such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">with authority to make such instructions,</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">but which </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Voice Initiated Funds Transfer Instruction </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">was, in fact, fraudulently issued without the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">knowledge of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, or </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">As a condition precedent to coverage under this Insuring Clause 11, the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Voice Initiated Funds Transfer</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Instruction </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">must be received and processed in accordance with the Designated Procedures as outlined in</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" colspan="2" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the Application furnished to the Company.</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">II.</FONT></B></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">GENERAL AGREEMENTS</FONT></B></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Automatic Increase </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#150; </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Limit Of Liability</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">If, during the Bond Period, an increase in the minimum amount of the Single Loss Limit Of Liability</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">applicable to Insuring Clause 1 is required pursuant to Rule 17g-1 of the Investment Company Act of 1940,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">as a result of:</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the creation of a new </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Investment Company</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">an increase in the gross assets of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Investment Companies </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">covered under the Bond,</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">then the minimum required increase in the amount of the Single Loss Limit Of Liability applicable to</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Insuring Clause 1 shall take place automatically for the remainder of the Bond Period without payment of</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">an additional premium.</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Joint Assured</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The first named </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall be deemed to be the sole agent of the other </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assureds </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">for all purposes</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">under this Bond, including but not limited to the giving or receiving of any notice or proof required to be</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">given and for the purpose of effecting or accepting any amendments to or termination of this Bond.</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">If the first named </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">ceases for any reason to be covered under this Bond, then the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">next</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">named on the Application shall thereafter be considered as the first named </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">for the purposes of</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">this Bond.</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The Company shall furnish each </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">with a copy of the Bond and with any amendment thereto,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">together with a copy of each formal filing of claim by any other </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and notification of the terms of</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the settlement of each such claim prior to the execution of such settlement.</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Knowledge possessed or discovery made by any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall constitute knowledge possessed or discovery</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">made by all of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assureds </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">for the purposes of this Bond.</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">All loss and other payments, if any, payable by the Company, shall be payable to the first named </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">without regard to such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">obligations to others, and the Company shall not be responsible for the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">application by the first named </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of any payment made by the Company. If the Company agrees to</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and makes payment to any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">other than the first named </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, such payment shall be treated</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">as though made to the first named </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The Company shall not be liable for loss sustained by one </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to the advantage of any other </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Notice To Company Of Legal Proceedings Against Assured </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#150; </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Election To Defend</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall promptly give notice to the Company of any legal proceeding brought to determine the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">liability for any loss, claim or damage which, if established, would constitute a collectible loss</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">under this Bond. Concurrent with such notice, and as requested thereafter, the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall furnish</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">copies of all pleadings and pertinent papers to the Company.</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The Company may, at its sole option, elect to conduct the defense of all or part of such legal proceeding.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The defense by the Company shall be in the name of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">through attorneys selected by the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Company. The </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall provide all reasonable information and assistance as required by the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Company for such defense.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903 (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 4 of 17</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_19"></A><BR>

<a name="_bclPageBorder19"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="5%"></TD>
     <TD width="2%"></TD>
     <TD width="3%"></TD>
     <TD width="2%"></TD>
     <TD width="84%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">If the Company elects to defend all or part of any legal proceeding, the </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">court costs and attorneys&#146; fees</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">incurred by the Company and any settlement or judgment on that part defended by the Company shall be</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a loss under the applicable Insuring Clause of this Bond. In addition, if the amount demanded in the legal</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">proceeding is greater than the amount recoverable under this Bond, or if a Deductible Amount is applicable,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or both, the Company</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#146;s liability for court costs and attorneys&#146; fees incurred in defending all or part of such</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">legal proceeding is limited to the proportion of suc</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">h court costs and attorneys&#146; fees incurred that the amount</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">recoverable under this Bond bears to the total of the amount demanded in such legal proceeding.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">If the Company declines to defend the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, no settlement without the prior written consent of the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Company or judgment against the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall determine the existence, extent or amount of coverage</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">under this Bond, and the Company shall not be liable for any costs, fees and expenses incurred by the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">4</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Representations Made By Assured</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">represents that all information it has furnished in the Application for this Bond or otherwise</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is complete, true and correct. Such Application and other information constitute part of this Bond. Any</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">intentional misrepresentation, omission, concealment or incorrect statement of a material fact, in the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" colspan="3" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Application or otherwise, shall be grounds for rescission of this Bond.</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">III.</FONT></B></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">DEFINITIONS</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">As used in this Bond:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Acceptance </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means a draft which the drawee has, by signature written on it, engaged to honor as presented.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Investment Company </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">listed under Name of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in the Declarations (the </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#147;</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">first named</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#148;</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">); or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any other </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Investment Company </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">listed in the Application.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">does not include any entity or organization that is not an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Investment Company</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s Network </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s Computer System</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Electronic Communication System</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Audit Expenses </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means reasonable expenses incurred by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">with the Company&#146;s prior written</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">consent, which shall not be unreasonably withheld, for audits or examinations required by any</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">governmental regulatory authority or self-regulatory organization to be conducted by such authority,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">organization, or their appointee. </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Audit Expense </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall not include the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">internal corporate costs</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(such as salaries), attorneys&#146; fees, or expenses incurred by any customer.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Certificate of Deposit </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means an acknowledgment in writing by a financial institution of receipt of</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Money </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">with an engagement to repay it.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Certificated Security </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means a share, participation or other interest in property of the issuer, or an</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">enterprise of the issuer, or an obligation of the issuer, which is:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">represented by an instrument issued in bearer or registered form;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of a type commonly dealt in on securities exchanges or markets or commonly recognized in any area in</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">which it is issued or dealt in as a medium for investment; and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">either one of a class or series or by its terms divisible into a class or series of shares, participations,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">interests or obligations.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903 (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 5 of 17</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_20"></A><BR>

<a name="_bclPageBorder20"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="3%"></TD>
     <TD width="3%"></TD>
     <TD width="93%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Claims Expenses </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means reasonable expenses incurred by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">with the Company&#146;s prior written</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">consent, which shall not be unreasonably withheld, solely for independent firms or individuals retained to</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">determine the amount of a covered loss. </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Claims Expenses </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall not include the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">internal</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">corporate costs (such as salaries), attorneys</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#146; </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">fees, or expenses incurred by any customer.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Computer System </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means a device or group of devices and all input, output, processing, storage, off-line</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">media libraries (including third-party hosted computing services accessed across the internet, including</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">infrastructure, platform, and software services), and communication facilities, including related</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">communications networks, which are connected directly or indirectly to such device or group of devices.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Counterfeit Original </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means an imitation of an actual valid </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Original </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">which is intended to deceive and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">be taken as the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Original</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Cryptocurrency </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means a digital or electronic medium of exchange, operating independently of a central</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">bank, in which encryption techniques are used to regulate the generation of units and to verify the transfer</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of such units.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Custodian </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means the institution designated by an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to maintain possession and control of its</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">assets.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means any shareholder of an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">which has a written agreement with the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">transfer such shareholder</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#146;</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">s </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Money </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">through a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Voice Initiated Funds Transfer</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Instruction</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer Communication System </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means an:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">online portal or mobile application provided by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">for purposes of accessing a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer&#146;s</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">account; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">electronic mailing system hosted by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or by a third party cloud service provider.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Director </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means any natural person duly elected or appointed:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">as an officer of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">board of directors; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">as a trustee of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Electronic Communication System </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Fedwire, Clearing House Interbank Payment System (CHIPS), Society for Worldwide Interbank</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Financial Telecommunication (SWIFT), and similar automated interbank communication systems in</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">which the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">participates;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer Communication System</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any communication system similar to those set forth in (1) and (2) of this definition in which the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">participates,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">allowing for the input, output, examination, or transfer of electronic instructions into or from the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">&#146;s </FONT></B><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Computer System</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means any natural person:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">while in the regular service of an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in the ordinary course of such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">business, whom</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">compensates directly by salary or wage and has the right to control and direct in the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">performance of such service;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Director </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">while in the regular service of an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in the ordinary course of such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">business, or while acting as a member of any committee duly elected or appointed to examine or audit</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or have custody of or access to </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">intern while in the regular service of an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in the ordinary course of such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">business;</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903 (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 6 of 17</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_21"></A><BR>

<a name="_bclPageBorder21"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="3%"></TD>
     <TD width="3%"></TD>
     <TD width="3%"></TD>
     <TD width="90%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD colspan="4">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="4">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(4</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">provided by an employment contractor while in the regular service of an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in the ordinary</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">course of such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">business under the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">supervision at any of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">premises;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(5</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">employee of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">contracted:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">investment advisor;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">underwriter (distributor);</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">transfer agent;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">d.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shareholder accounting record-keeper; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">e.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">fund administrator,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">while performing acts for the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in the capacity of an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(6</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">attorney of a law firm retained by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">while performing legal services for the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(7</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Processor</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, but only while such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Processor </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is performing services and not:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">creating, preparing, modifying, or maintaining the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">computer applications or software</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">programs; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">acting as a transfer agent or in any other agency capacity in issuing checks, drafts, or securities for</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Each employer of persons as set forth in (6) and (7) of this definition and the partners, officers, and other</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">employees of such employers shall collectively be deemed to be one person for the purpose of the definition</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Single Loss </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and in the event of payment under this Bond, the Company shall be subrogated to the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="4">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">rights of recovery, as stated in Section 12., Subrogation </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#150; </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Assignment </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#150; </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Recovery, of the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Conditions and Limitations, against any such employer.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="4">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">does not include:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any employee of a fund administrator for any employee benefit plan; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any employee of a transfer agent, shareholder accounting record-keeper, or fund administrator which</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is:</FONT></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">not an &#147;affiliated person&#148; (as defined in Section 2(a) of the Investment Company </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Act of 1940) of an</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or of the investment advisor or underwriter (distributor) of such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a &#147;bank&#148; (as defined in Section 2(a) of the Investment Company Act of 1940</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">).</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="4">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Evidence of Debt </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means an instrument, including a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Negotiable Instrument</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, executed by a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and held by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, which in the regular course of business is treated as evidencing the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer&#146;s</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">debt to the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="4">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Forgery </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">affixing the handwritten signature, or a reproduction of the handwritten signature, of another natural</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">person without authorization and with the intent to deceive; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">affixing the name of an organization as an endorsement to a check without authority and with the intent</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to deceive,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">provided that a signature which consists in whole or in part of one&#146;s own name signed with or without</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">authority, in any capacity, for any purpose is not a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Forgery</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="4">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Initial Transaction Statement </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means the first written statement signed by or on behalf of the issuer of</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Uncertificated Security </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">sent to the registered owner or registered pledgee containing:</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903 (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 7 of 17</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_22"></A><BR>

<a name="_bclPageBorder22"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="3%"></TD>
     <TD width="3%"></TD>
     <TD width="93%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a description of the issue of which the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Uncertificated Security </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is a part;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the number of shares or units transferred to the registered owner, pledged by the registered owner to</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the registered pledgee, or released from pledge by the registered pledgee;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the name, address and taxpayer identification number, if any, of the registered owner and registered</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">pledgee; and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(4</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the date the transfer, pledge or release was registered.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Instruction </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means a written order to the issuer of an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Uncertificated Security </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">requesting that the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">transfer, pledge or release from pledge of the specified </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Uncertificated Security </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">be registered.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Investment Company </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means any entity registered under the Investment Company Act of 1940.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Items of Deposit </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means one or more checks or drafts drawn upon a financial institution in the United</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">States of America.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Larceny or Embezzlement </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means larceny and embezzlement as defined under Section 37 of the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Investment Company Act of 1940.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Letter of Credit </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means an engagement in writing by a bank or other person made at the request of a</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">customer that the bank or other person will honor drafts or other demands for payment in compliance with</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the conditions specified in the engagement.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Money </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means a medium of exchange in current use authorized or adopted by a domestic or foreign</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">government as part of its currency.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Negotiable Instrument </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means any writing:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">signed by the maker or drawer;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">containing an unconditional promise or order to pay a sum certain in </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Money </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and no other promise,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">order, obligation or power given by the maker or drawer;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">payable on demand or at a definite time; and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(4</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">payable to order or bearer.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Negotiable Instrument </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">includes a substitute check as defined in the Check Clearing for the 21</FONT><SUP><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">st </FONT></SUP><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Century</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Act, and shall be treated the same as the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Original </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">it replaced.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Network Intrusion </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means the:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">unauthorized access; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">entry of an unauthorized application or software program,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">into the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s Network</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, by any entity or natural person, except an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or any authorized</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">representative of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Original </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means the first rendering or archetype and does not include photocopies or electronic</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">transmissions even if received and printed.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Processor </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means an employee of any entity authorized by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to perform data processing of the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">checks and accounting records related to such checks. </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Processor </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">does not include any</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">employee of a Federal Reserve Bank or clearing house.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Money</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Initial Transaction Statement</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Negotiable Instrument</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Certificate of Deposit</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Acceptance</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Evidence of Debt</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Withdrawal Order</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Letter of Credit</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">insurance policy; abstract of title, deed and mortgage on real estate; revenue and other stamps; precious</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">metals in any form; and books of accounts and other </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Written </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">records, but not electronic data processing</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">records or media.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">does not include electronic data or </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Cryptocurrency</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903 (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 8 of 17</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_23"></A><BR>

<a name="_bclPageBorder23"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="5%"></TD>
     <TD width="2%"></TD>
     <TD width="3%"></TD>
     <TD width="2%"></TD>
     <TD width="84%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" style="TEXT-INDENT:253.819992pt">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means either </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Certificated Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Uncertificated Securities</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Single Loss </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means all covered loss, court costs, and attorneys&#146; fees resulting from:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any one act of burglary, robbery or attempt at either, in which no </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is implicated;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any one act or series of related acts on the part of any natural person resulting in the damage,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">destruction, or misplacement of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">all acts other than those specified in (1) and (2) of this definition, caused by any natural person or in</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">which such natural person is implicated; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(4</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any one event not specified in (1), (2) or (3) of this definition.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Transportation Company </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means any organization which provides its own or its leased vehicles for</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">transportation or which provides freight forwarding or air express services.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Uncertificated Security </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means a share, participation or other interest in property of the issuer, or an</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">enterprise of the issuer, or an obligation of the issuer, which is:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">not represented by an instrument and the transfer of which is registered on books maintained for that</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">purpose by or on behalf of the issuer;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of a type commonly dealt in on securities exchanges or markets; and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">either one of a class or series or by its terms divisible into a class or series of shares, participations,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">interests or obligations.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Voice Initiated Funds Transfer Instruction </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means those oral instructions which authorize the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">transfer of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Money </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">account, or of a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer&#146;s </FONT></B><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, and which are:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">made over a telecommunications device; and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">directed to those natural persons specifically authorized to receive such instructions by such</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">telecommunications device.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Withdrawal Order </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means a non-negotiable instrument, other than an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Instruction</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, signed by a</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">authorizing the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to debit the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">account in the amount of funds stated</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">therein.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Written </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means expressed through letters or marks placed upon paper and visible to the eye.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">For the purposes of these definitions, the singular includes the plural and the plural includes the singular,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" colspan="3" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">unless otherwise indicated.</FONT></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">IV.</FONT></B></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">EXCLUSIONS</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">General Exclusions </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#150; </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Applicable To All Insuring Clauses</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">This Bond does not cover loss resulting directly or indirectly from:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">riot or civil commotion outside the United States of America and Canada, or any loss due to military,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">naval or usurped power, war or insurrection. This Exclusion 1.a., however, shall not apply to loss which</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">occurs in transit in the circumstances recited in Insuring Clause 3, provided that when such transit was</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">initiated there was no knowledge on the part of any person acting for the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of such riot, civil</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">commotion, military, naval or usurped power, war or insurrection;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the effects of nuclear fission or fusion, radioactivity, or chemical or biological contamination;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the loss of potential income. This Exclusion 1.c., however, shall not apply to interest and dividends</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">accrued to the benefit of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">prior to the discovery of a covered loss,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">whether or not such accrued interest or dividends have been paid into the account of such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">as of the discovery of such covered loss;</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903 (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 9 of 17</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_24"></A><BR>

<a name="_bclPageBorder24"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="3%"></TD>
     <TD width="3%"></TD>
     <TD width="3%"></TD>
     <TD width="3%"></TD>
     <TD width="86%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">d.</FONT></TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">damages of any type for which the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is legally liable, except compensatory damages, but not</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">multiples thereof, arising from a loss covered under this Bond;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">e.</FONT></TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">all costs, fees and expenses incurred by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in establishing the existence of or amount of loss covered under this Bond, except for loss covered</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">under Insuring Clause 8 or 9; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">as a party to any legal proceeding, even if such legal proceeding results in a loss covered by this</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Bond;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">f.</FONT></TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">indirect or consequential loss of any nature, except for loss covered under Insuring Clause 8 or 9. This</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Exclusion 1.f., however, shall not apply to interest and dividends accrued to the benefit of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">prior to the discovery of a covered loss, whether or not such accrued interest or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">dividends have been paid into the account of such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">as of the discovery of such</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">covered loss;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">g.</FONT></TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any violation by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or by any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of any law regulating:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">i.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the issuance, purchase or sale of securities;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">ii.</FONT></TD>
	<TD align="center">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">securities transactions on security or commodity exchanges or the over the counter market;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">iii.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">investment companies; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">iv.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">investment advisors; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of any rule or regulation made pursuant to any such law;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">h.</FONT></TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the loss or disclosure of confidential information, material or data, while in the care, custody or control</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, including but not limited to patents, trade secrets, processing methods, customer lists,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">financial information, credit card information, health information, retirement or health savings</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">account information, or any similar type of non-public information. This Exclusion 1.h., however, shall</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">not apply when such information, material or data is used to support or facilitate the commission of</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any act otherwise covered under this Bond;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">i.</FONT></TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">fees, costs, fines, penalties or any other expenses incurred by an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">which result, directly or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">indirectly, from the access to or disclosure of an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or another entity</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#146;s or person&#146;s confidential</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or personal information, including but not limited to patents, trade secrets, processing methods,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">customer lists, financial information, credit card information, health information, retirement or health</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">savings account information, or any similar type of non-public information;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">j.</FONT></TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">liability resulting from disclosure of or acting on material nonpublic information;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">k.</FONT></TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">liability assumed by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">by agreement under any contract, unless loss under this Bond would</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">be covered in the absence of such agreement;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">l.</FONT></TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the dishonest acts of any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Director </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">who is not an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, acting alone or in collusion with others;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">m.</FONT></TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any modification, damage, destruction, deletion, or corruption of any application or software program</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">within the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s Network</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, except for loss covered under Insuring Clause 7;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">n.</FONT></TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a threat or series of threats to:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">gain access to the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">&#146;s </FONT></B><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Computer System </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and sell or disclose confidential information</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">stored within the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">&#146;s </FONT></B><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Computer System</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">modify, damage, destroy, delete, or corrupt any application or software program within the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">&#146;s </FONT></B><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Computer System</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">o.</FONT></TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">costs or expenses of any independent forensic analysts or network security consultants engaged to</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">investigate or assess any actual or alleged threat;</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903 (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 10 of 17</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_25"></A><BR>

<a name="_bclPageBorder25"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="2%"></TD>
     <TD width="2%"></TD>
     <TD width="3%"></TD>
     <TD width="3%"></TD>
     <TD width="2%"></TD>
     <TD width="84%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">p.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">costs or expenses incurred to identify or remediate application or software program errors or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">vulnerabilities, or costs to update, replace, restore, upgrade, maintain, or improve a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Computer</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">System</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">q.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">costs or expenses incurred to replace, restore, recreate, collect, or recover any application or software</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">program; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">r.</FONT></TD>
	<TD align="left" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Cryptocurrency</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Specific Exclusions </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#150; </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Applicable To All Insuring Clauses Except Insuring Clause 1</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">This Bond does not cover loss resulting directly or indirectly from:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the acts of an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, except for loss covered under:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Insuring Clause 2 or 3 which results directly from misplacement, mysterious unexplainable</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">disappearance, or damage or destruction of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Insuring Clause 11;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the surrender of a ransom or extortion payment away from the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">premises as a result of a</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">threat to do bodily harm to any person, or to do damage to the premises or </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">except for loss covered under Insuring Clause 3.b.;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">payments made or withdrawals from any account involving erroneous credits to such account, unless</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">such payments or withdrawals are physically received by such depositor or representative of such</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">depositor who is within the premises of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">at the time of such payment or withdrawal;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">d.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Uncertificated Security</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, except for loss covered under Insuring Clause 7;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">e.</FONT></TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the loss of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">while:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in the mail;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in the custody of a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Transportation Company</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, except for loss covered under Insuring Clause 3;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">located on the premises of an armored motor vehicle operator;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">f.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">damages resulting from any civil, criminal or other legal proceeding in which the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">adjudicated to have engaged in </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Racketeering </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">activity;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">g.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the failure for any reason of a financial or depository institution, its receiver or other liquidator to pay</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or deliver funds or </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured, </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">except for loss of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">covered under Insuring</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Clause 2;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">h.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">instructions issued by a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">when such instructions are made, sent, or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">originated by a natural person authorized by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to make, send, or originate any</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">instructions;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">i.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the use of credit, debit, charge, access, convenience, identification, cash management, or other cards</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">whether such cards were issued, or purport to have been issued, by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or by any entity other</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">than the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">j.</FONT></TD>
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Items of Deposit </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">which are not finally paid for any reason including, but not limited to, </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Forgery </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any other fraud, except for loss covered under Insuring Clause 10;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">k.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the acts of any agent, broker, factor, commission merchant, independent contractor, intermediary,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">finder, or other representative of the same general character of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">l.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the acts of any employee, agent, broker, factor, commission merchant, independent contractor,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">intermediary, finder, or other representative of the same general character of any third party, while</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">conducting business with the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">on behalf of such third party.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903 (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 11 of 17</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_26"></A><BR>

<a name="_bclPageBorder26"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="2%"></TD>
     <TD width="2%"></TD>
     <TD width="3%"></TD>
     <TD width="3%"></TD>
     <TD width="2%"></TD>
     <TD width="84%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Specific Exclusions </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#150; </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Applicable To All Insuring Clauses Except Insuring Clauses 1, 4, and 5</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">This Bond does not cover loss resulting directly or indirectly from:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the complete or partial non-payment of or default on any loan whether such loan was procured in good</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">faith or through trick, artifice, fraud, or false pretenses, except for loss covered under Insuring Clause</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">7</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Forgery </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or any alteration, except for loss covered under Insuring Clause 7; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any counterfeit, except for loss covered under Insuring Clause 6.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">4</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Specific Exclusions </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#150; </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Applicable To Insuring Clause 7</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">This Bond does not cover loss resulting directly or indirectly from:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any transfer, payment, or delivery of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Money or Securities</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">authorized by an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">arising out of any misrepresentation received by any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, agent, broker, factor, commission</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">merchant, independent contractor, intermediary, finder, or other representative of the same</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">general character of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">whether such transfer, payment, or delivery was made in good faith or as a result of trick, artifice, fraud,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or false pretenses;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">forged, altered or fraudulent </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Negotiable Instruments</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, documents or written</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">instruments used as source documentation for input into a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Computer System</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any investment in </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, or ownership in any corporation, partnership, real property, commodity</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or similar instrument, whether or not such investment is genuine or fraudulent;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">d.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">mechanical failure, faulty construction, error in design, latent defect, wear and tear, gradual</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">deterioration, electrical disturbance, the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s Network </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">failure or breakdown, any malfunction</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or error in programming, or error or omission in processing;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">e.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">entries or changes made by a natural person with authorized access to the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s </FONT></B><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Network </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">who</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">acts in good faith on instructions, unless such instructions are given to that person by a software</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">contractor or its partner, officer, or employee authorized to design, develop, prepare, supply, service,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">write or implement programs for the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s </FONT></B><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Network</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">f.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">entries or changes made at an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Electronic Funds Transfer System </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Communication System </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">by a:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">natural person with authorized access to the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">authentication credentials or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">mechanism.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">5</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Specific Exclusions </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#150; </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Applicable To Insuring Clause 11</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">This Bond does not cover loss resulting directly or indirectly from any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Voice Initiated Transfer</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Instruction </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">from a:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">natural person with authorized access to the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">verification credentials or mechanism.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903 (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 12 of 17</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_27"></A><BR>

<a name="_bclPageBorder27"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="2%"></TD>
     <TD width="3%"></TD>
     <TD width="2%"></TD>
     <TD width="3%"></TD>
     <TD width="87%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">V.</FONT></B></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">CONDITIONS AND LIMITATIONS</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Anti-Bundling</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">If any Insuring Clause requires that an enumerated type of document be fraudulently materially altered or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Counterfeit Original</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, or contain a signature which is a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Forgery </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or obtained through trick, artifice,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">fraud, or false pretenses, the material alteration or </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Counterfeit Original </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or fraudulent signature must be</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">on or of the enumerated document itself not on or of some other document submitted with, accompanying</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or incorporated by reference into the enumerated document.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Change Or Modification</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">No change in or modification of this Bond shall be effective except when made by written endorsement to</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">this Bond signed by an authorized representative of the Company.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">If this Bond is for a sole </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, no change or modification which would adversely affect the rights of the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall be effective prior to sixty (60) days after written notice has been furnished by the acting</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">party to the U.S. Securities and Exchange Commission.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">If this Bond is for joint </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assureds</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, no change or modification which would adversely affect the rights of any</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall be effective prior to sixty (60) days after written notice has been furnished by the Company</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to all </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assureds </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and to the U.S. Securities and Exchange Commission.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Conformity</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">If any time period </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">limitation within this Bond is prohibited by any law controlling this Bond&#146;s construction,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">such limitation shall be deemed to be amended so as to equal the minimum period of limitation provided</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">by such law.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">4</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Cooperation Of Assured</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">At the Company</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#146;</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">s request and at reasonable times and places designated by the Company, the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">submit to examination by the Company and subscribe to the same under oath;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">produce for the Company&#146;s examination all pertinent records</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">cooperate with the Company in all matters pertaining to the loss.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall execute all papers and render all assistance to secure to the Company the rights and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">causes of action provided for under this Bond. The </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall do nothing after discovery of any loss to</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">prejudice such rights or causes of action.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">5</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Covered Property</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">This Bond shall apply to loss of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">owned by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">held by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in any capacity; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">for which the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is legally liable.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">This Bond shall be for the sole use and benefit of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">6</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Deductible Amount</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The Company shall be liable under this Bond only for the amount by which any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Single Loss </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is greater than</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the applicable Deductible Amount as stated in Item 2 of the Declarations.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">There shall be no deductible applicable to any loss sustained by any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and covered under Insuring</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Clause 1.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903 (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 13 of 17</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_28"></A><BR>

<a name="_bclPageBorder28"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="2%"></TD>
     <TD width="2%"></TD>
     <TD width="3%"></TD>
     <TD width="3%"></TD>
     <TD width="2%"></TD>
     <TD width="84%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">7</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Discovery</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">This Bond applies only to loss first discovered by a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Director </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">during the Bond Period. Discovery occurs at</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the earlier of a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Director </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">learning of:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">facts which may subsequently result in a loss of a type covered by this Bond; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">an actual or potential claim in which it is alleged that the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is liable to a third party,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">regardless of when the act or acts causing or contributing to such loss occurred, even though the amount of</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">loss does not exceed the applicable Deductible Amount, or the exact amount or details of loss may not then</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">be known.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">8</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Limit Of Liability</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The payment of any loss under this Bond shall not reduce the liability of the Company for other losses</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">whenever sustained, provided that:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the Company</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#146;s liability for each </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Single Loss </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall not exceed the applicable Single Loss Limit Of</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Liability as stated in Item 2 of the Declarations or as set forth under General Agreement 1, and shall not</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">be cumulative in amounts from year to year or from Bond Period to Bond Period;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">if a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Single Loss </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is covered under more than one Insuring Clause, the maximum payable shall not</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">exceed the largest applicable Single Loss Limit Of Liability; and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the Company&#146;s liability </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">for loss or losses sustained by more than one </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assureds</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, or all </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assureds</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, shall</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">not exceed the total amount for which the Company would be liable under this Bond if such loss or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">losses were sustained by any one </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">9</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Notice To Company </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#150; </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Proof </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#150; </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Legal Proceedings Against Company</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall give the Company notice at the earliest practicable moment, not to exceed sixty (60)</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">days after discovery of a loss, in an amount that is in excess of 50% of the applicable Deductible Amount,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">as stated in Item 2 of the Declarations.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall furnish to the Company proof of loss, duly sworn to, with full particulars, within six</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(6) months after such discovery.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>
	<TD align="right" colspan="3">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Certificated Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">listed in a proof of loss shall be identified by certificate or bond numbers, if</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">issued with them.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">d.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Legal proceedings for the recovery of any loss under this Bond shall not be brought prior to the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">expiration of sixty (60) days after the proof of loss is filed with the Company or after the expiration of</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">twenty-four (24) months from the discovery of such loss.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">e.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">This Bond affords coverage only in favor of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">. No claim, suit, action or legal proceeding</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall be brought under the Bond by anyone other than the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">f.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">All such notices shall be given in writing to one of the following addresses:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<FONT color="#0000ff" size="2" face="Georgia,Arial,Helvetica,sans-serif">ChubbClaimsFirstNotice@chubb.com</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Attn: Chubb Claims Department</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Chubb</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">P.O. Box 5122</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Scranton, PA 18505</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">g.</FONT></TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">All other notices to the Company under this Bond shall be given in writing to the following address:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<FONT color="#0000ff" size="2" face="Georgia,Arial,Helvetica,sans-serif">NA.FinancialLines@chubb.com</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903 (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 14 of 17</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_29"></A><BR>

<a name="_bclPageBorder29"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="3%"></TD>
     <TD width="2%"></TD>
     <TD width="3%"></TD>
     <TD width="3%"></TD>
     <TD width="2%"></TD>
     <TD width="84%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Attn: Chubb Underwriting Department</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Chubb</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">202B Hall</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#146;</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">s Mill Road</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Whitehouse Station, NJ 08889</FONT></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">All notices described above shall be effective on the date of receipt by the Company.</FONT></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">10</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Other Insurance</FONT></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Coverage under this Bond shall apply only as excess over any other valid and collectible insurance,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">indemnity or suretyship obtained by or on behalf of:</FONT></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Transportation Company</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(3</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">)</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">another entity on whose premises the loss occurred or which employed the person causing the loss</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or engaged the messenger conveying the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">involved.</FONT></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Solely with respect to Insuring Clause 7, in the event of a loss covered under this Bond and also covered</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">under other valid and collectible insurance issued by the Company, or a parent, subsidiary or affiliate</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of the Company to the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, the Single Loss Limit Of Liability under this Bond shall be reduced by</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any payment under any other such valid and collectible insurance and only the remainder, if any, shall</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">be applicable to such loss covered hereunder.</FONT></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">11</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Securities Settlement</FONT></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">In the event of a loss of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">covered under this Bond, the Company may, at its sole discretion,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">purchase replacement </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, tender the value of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Money</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, or issue its indemnity to</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">effect replacement </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The indemnity required from the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">under the terms of this Section against all loss, cost or expense</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">arising from the replacement of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">by the Company</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#146;</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">s indemnity shall be:</FONT></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">for </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">having a value less than or equal to the applicable Deductible Amount </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#150; </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">one hundred</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(100%) percent;</FONT></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">for </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">having a value in excess of the applicable Deductible Amount but within the Single Loss</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Limit Of Liability </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#150; </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the percentage that the Deductible Amount bears to the value of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">for </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">having a value greater than the applicable Single Loss Limit Of Liability </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#150; </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the percentage</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">that the Deductible Amount and portion in excess of the Single Loss Limit Of Liability bears to the value</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The value referred to in Sections 11.a., b., and c. is the value in accordance with Section 14., Valuation,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">regardless of the value of such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">at the time the loss under the Company</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#146;</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">s indemnity is sustained.</FONT></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The Company is not required to issue its indemnity for any portion of a loss of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">which is not</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">covered by this Bond, however, the Company may do so as a courtesy to the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in its sole discretion.</FONT></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall pay the proportion of the </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Company&#146;s </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">premium charge for the </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Company&#146;s </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">indemnity as</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">set forth in Sections 11.a., b., and c. No portion of the Single Loss Limit Of Liability shall be used as payment</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of premium for any indemnity purchased by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to obtain replacement </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">12</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Subrogation </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#150; </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Assignment </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">&#150; </FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Recovery</FONT></TD>
</TR>
<TR>
	<TD colspan="6">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">In the event of a payment under this Bond, the Company shall be subrogated to all of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">rights</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of recovery against any person or entity to the extent of such payment. On request, the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">deliver to the Company an assignment of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">rights, title and interest and causes of action</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="4">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">against any person or entity to the extent of such payment.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903 (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 15 of 17</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_30"></A><BR>

<a name="_bclPageBorder30"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="3%"></TD>
     <TD width="2%"></TD>
     <TD width="3%"></TD>
     <TD width="3%"></TD>
     <TD width="87%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="5">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Recoveries, whether effected by the Company or by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, shall be applied net of the expense of</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">such recovery, in the following order:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">first, to the satisfaction of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">covered loss which would otherwise have been paid but for</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the fact that it is in excess of the Single Loss Limit Of Liability;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">second, to the Company in satisfaction of amounts paid in settlement of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">A</FONT></B><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">ssured&#146;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">claim;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">third, to the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in satisfaction of the applicable Deductible Amount; and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">d.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">fourth, to the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in satisfaction of any loss suffered by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">which was not covered under</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">this Bond.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Recovery from reinsurance or indemnity of the Company shall not be deemed a recovery under this Section.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">13</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Termination</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">If the Bond is for a sole </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, it shall not be terminated unless written notice shall have been given</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">by the acting party to the affected party and to the U.S. Securities and Exchange Commission not less</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">than sixty (60) days prior to the effective date of such termination.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">If the Bond is for a joint </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, it shall not be terminated unless written notice shall have been given</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">by the acting party to the affected party, and by the Company to all </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assureds </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and to the U.S. Securities</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and Exchange Commission, not less than sixty (60) days prior to the effective date of such termination.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">If any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Director</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, not acting in collusion with an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, discovers any dishonest or fraudulent act</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">committed by such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, whether in the employment of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or otherwise, and whether</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">against the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or any other person or entity, the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">:</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">i.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall immediately remove such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">from a position that would enable such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">cause the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to suffer a loss covered by this Bond; and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">ii.</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">within forty-eight (48) hours of discovering an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">has committed any dishonest or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">fraudulent act, shall notify the Company of such action and provide full particulars of such</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">dishonest or fraudulent act.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">d.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">This Bond terminates as to any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">sixty (60) days after receipt by each </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and the U.S.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Securities and Exchange Commission of written notice from the Company of its decision to terminate</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">this Bond as to any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">14</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>
	<TD align="left" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Valuation</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Books Of Account Or Other Records</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The value of any loss of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">consisting of books of account or other records used by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in the conduct of its business shall be the amount paid by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">for blank books, blank pages,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or other materials which replace the lost books of account or other records, plus the cost of labor paid</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">for the actual transcription or copying of data to reproduce such books of account or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">other records.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Money</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Any loss of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Money</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, or loss payable in </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Money</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, shall be paid in the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Money </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of the United States of</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">America or the dollar equivalent of it, determined by the free market rate of exchange in effect at the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">time of discovery of such loss.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Other Property</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The value of any loss of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, except as otherwise provided for in this Section 14., shall be the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">actual cash value or the cost of repairing or replacing such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">with </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of like quality and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">value, whichever is less.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903 (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 16 of 17</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_31"></A><BR>

<a name="_bclPageBorder31"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="5%"></TD>
     <TD width="4%"></TD>
     <TD width="90%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left" style="TEXT-INDENT:253.819992pt">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">Financial Institution Bond</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
<B><FONT size="4" face="Georgia-Bold,Arial,Helvetica,sans-serif">For Investment Companies</FONT></B></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">d.</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Securities</FONT></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The value of any loss of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall be the average market value of such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">on the</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">business day immediately preceding discovery of such loss, provided that the value of any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">replaced by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, with the consent of the Company and prior to the settlement of any claim for</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">them, shall be the actual market value at the time of replacement. In the case of a loss of interim</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">certificates, warrants, rights or other </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, the production of which is necessary to the exercise</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of subscription, conversion, redemption or deposit privileges, the value of them shall be the market</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">value of such privileges immediately preceding their expiration if the loss is not discovered until after</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">their expiration. If no market price is quoted for such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or for such privileges, the value shall</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">be fixed by agreement of the parties.</FONT></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">VI.</FONT></B></TD>
	<TD align="left" colspan="2">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">COMPLIANCE WITH APPLICABLE TRADE SANCTION LAWS</FONT></B></TD>
</TR>
<TR>
	<TD colspan="3">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">This Bond does not apply to the extent that trade or economic sanctions law or other similar laws or</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="2">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">regulations prohibit the Company from providing insurance.</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52903 (08/21)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 17 of 17</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>



<!--$$/page=-->
<A name="page_32"></A><BR>

<a name="_bclPageBorder32"></a><DIV STYLE="PADDING-RIGHT:0%; PADDING-LEFT:0%">
<DIV align="left">
<TABLE border="0" cellspacing="0">
<TR>
     <TD width="6%"></TD>
     <TD width="28%"></TD>
     <TD width="14%"></TD>
     <TD width="6%"></TD>
     <TD width="12%"></TD>
     <TD width="28%"></TD>
     <TD width="2%"></TD></TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="5" style="TEXT-INDENT:1.221008pt">
<B><FONT size="3" face="Georgia-Bold,Arial,Helvetica,sans-serif">ASSURED&#146;S FUNDS TRANSFER AND SOCIAL ENGINEERING FRAUD</FONT></B></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="center" colspan="7" style="border-bottom:1px solid #000000">
<B><FONT size="3" face="Georgia-Bold,Arial,Helvetica,sans-serif">ENDORSEMENT</FONT></B></TD>
</TR>
<TR>
	<TD colspan="7"><HR noshade size="1"></TD></TR>
<TR valign="bottom">
	<TD align="left" colspan="2">
<FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Named Assured</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Endorsement Number</FONT></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">ABRDN FUNDS</FONT></TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">1</FONT></TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2">
<FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Bond Number</FONT></TD>
	<TD align="left">
<FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Bond Period</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="right">
<FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Effective Date of Endorsement</FONT></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">J06017368</FONT></TD>
	<TD align="center" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">05-14-2022</FONT></TD>
	<TD align="center" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to</FONT></TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">05-14-2023</FONT></TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">May 14, 2022</FONT></TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
</TR>
<TR>
	<TD colspan="7">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
<FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Issued By</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Federal Insurance Company</FONT></TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="center" colspan="7">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="center" colspan="7">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">This endorsement modifies insurance provided under the following:</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align="center" colspan="7">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">FINANCIAL INSTITUTION BOND </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">FOR INVESTMENT COMPANIES</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="6">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">In consideration of the premium charged, it is agreed that solely with respect to coverage afforded under this</FONT></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="3" style="TEXT-INDENT:4.850006pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Endorsement, this Bond is amended as follows:</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="6">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1) Item 2., Single Loss Limits Of Liability &#150; Deductible Amounts, of the Declarations is amended to include the</FONT></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2" style="TEXT-INDENT:22.800003pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">following:</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Insuring Clause</FONT></TD>
	<TD align="right" colspan="3" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Single Loss Limit of Liability</FONT></TD>
	<TD align="right" style="border-bottom:1px solid #000000">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Deductible Amount</FONT></TD>
	<TD align="left" style="border-bottom:1px solid #000000">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2" style="TEXT-INDENT:22.850006pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Assured&#146;s Funds Transfer and</FONT></TD>
	<TD align="right" colspan="3">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">1,000,000 Single/Aggregate</FONT></TD>
	<TD align="right">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">50,000</FONT></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2" style="TEXT-INDENT:22.850006pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Social Engineering Fraud</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="3" style="TEXT-INDENT:4.850006pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2) The following Insuring Clause is added:</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="4" style="TEXT-INDENT:22.850006pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">12. Assured&#146;s Funds Transfer and Social Engineering Fraud</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="6" style="TEXT-INDENT:22.850006pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Loss resulting directly from the transfer, payment, or delivery of an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured&#146;s Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">on the faith of a</FONT></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2" style="TEXT-INDENT:22.850006pt">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Command </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">purportedly issued by:</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:22.800003pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="left" colspan="5">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">an employee of a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Vendor </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">instructing an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to transfer </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or change bank account</FONT></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">information of such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Vendor</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:22.850006pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="left" colspan="5" style="TEXT-INDENT:0.050003pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Director </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or other </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">who is authorized by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to instruct another </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to</FONT></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left" style="TEXT-INDENT:0.050003pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">transfer </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:22.850006pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>
	<TD align="left" colspan="5" style="TEXT-INDENT:0.050003pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to a financial institution directing such financial institution to transfer, pay, or deliver</FONT></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="5" style="TEXT-INDENT:0.050003pt">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">from an account maintained by such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">at such financial institution,</FONT></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="6" style="TEXT-INDENT:22.850006pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">but which </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Command </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">was, in fact, fraudulently issued or fraudulently modified without the knowledge of the</FONT></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="5" style="TEXT-INDENT:22.800003pt">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or any natural person set forth in (a) and (b) above.</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="5" style="TEXT-INDENT:22.850006pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">As a condition precedent to coverage under 12.(a) and</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="right" colspan="6">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">12</FONT></TD>
	<TD align="left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.(b), the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">acting on the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Command </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">must obtain </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Official Authorization </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">prior to any single</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="6" style="TEXT-INDENT:22.800003pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">transfer, payment, or delivery of funds in excess of the Deductible Amount set forth in Paragraph 1 of this</FONT></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2" style="TEXT-INDENT:22.800003pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Endorsement.</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2" style="TEXT-INDENT:4.850006pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(3) The following Definitions are added:</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" colspan="2" style="TEXT-INDENT:22.850006pt">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Command </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means any:</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:22.800003pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>
	<TD align="left" colspan="5">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">electronic instruction, including an e-mail, that is delivered through an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Electronic Communication</FONT></B></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left">
&nbsp;</TD>
	<TD align="left" colspan="5">
<B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">System </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and that is capable of retention by the recipient at the time of receipt; or</FONT></TD>
	<TD align="left">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align="left" style="TEXT-INDENT:22.850006pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>
	<TD align="left" colspan="2" style="TEXT-INDENT:0.050003pt">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">telex, or </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Telefacsimile </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">instruction.</FONT></TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
	<TD align="left">
&nbsp;</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">MS-345613 (06/22)</FONT></P>
<P style="text-align:left">
<FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 1 of 2</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size="2"><DIV STYLE="page-break-before:always">&nbsp;</DIV>


<!--$$/page=--><A name="page_33"></A><BR>

<a name="_bclPageBorder33"></a><DIV style="PADDING-LEFT:0%; PADDING-RIGHT:0%">

<DIV align="left">

<TABLE cellSpacing="0" border="0">



<TR>

   <TD width="6%"></TD>

   <TD width="93%"></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:17.949pt" colSpan="2" align="left"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Official Authorization </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means a valid handwritten signature of at least two </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employees</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, or an electronic</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:17.949pt" colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">record of entry and approval into a wire transfer system, accounting system, or similar system which is</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:17.949pt" colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">capable of maintaining and reproducing an audit trail which demonstrates that at least two </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employees</FONT></B></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:17.949pt" colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">approved a transaction within their authority, provided that:</FONT></TD></TR>

<TR>

   <TD colSpan="2">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>

   <TD style="TEXT-INDENT:0.05pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Forgery </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall not be deemed an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Official Authorization</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; and</FONT></TD></TR>

<TR>

   <TD colSpan="2">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:17.949pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Official Authorization </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall not include a typed name in any form (including but not limited to e-</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">mail, letterhead or pre-printed material), but shall include electronic reproductions of handwritten</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">signatures in any form.</FONT></TD></TR>

<TR>

   <TD colSpan="2">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:17.949pt" colSpan="2" align="left"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Telefacsimile </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means a system of transmitting a facsimile of a tangible document by electronic signals over</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:17.949pt" colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">telephone lines to a piece of equipment maintained for the specific purpose of receiving such signals and</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:17.949pt" colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">printing such facsimile on a tangible medium.</FONT></TD></TR>

<TR>

   <TD colSpan="2">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" colSpan="2" align="left"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Vendor </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means any entity or natural person that has provided specialized investment advice or other goods</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and services to the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">pursuant to a written agreement. </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Vendor </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">does not include any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">,</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">custodian, broker/dealer, administrator, property manager, counter-party, financial institution, or any similar</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">entity.</FONT></TD></TR>

<TR>

   <TD colSpan="2">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(4) Exclusion 2.a. is deleted and replaced with the following:</FONT></TD></TR>

<TR>

   <TD colSpan="2">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>

   <TD style="TEXT-INDENT:0.05pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the acts of an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, except for loss covered under:</FONT></TD></TR>

<TR>

   <TD colSpan="2">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1) Insuring Clause 2 or 3 which results directly from misplacement, mysterious unexplainable</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">disappearance, or damage or destruction of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD></TR>

<TR>

   <TD colSpan="2">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2) Insuring Clause 11; or</FONT></TD></TR>

<TR>

   <TD colSpan="2">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:0.05pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(3) Insuring Clause 12.(a) or </FONT><FONT size="3" face="Georgia,Arial,Helvetica,sans-serif">12</FONT><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.(b);</FONT></TD></TR>

<TR>

   <TD colSpan="2">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(5) The following Exclusions are added:</FONT></TD></TR>

<TR>

   <TD colSpan="2">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">This Bond does not cover loss resulting directly or indirectly from:</FONT></TD></TR>

<TR>

   <TD colSpan="2">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>

   <TD style="TEXT-INDENT:0.05pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Command </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">issued by a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or an authorized representative of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD></TR>

<TR>

   <TD colSpan="2">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:17.949pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any investment in </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, or ownership in any corporation, partnership, real property, commodity or</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">similar instrument, whether or not such investment is genuine or fraudulent. This Exclusion, however,</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall only apply to Insuring Clauses 12.(a) or</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">12.(b);</FONT></TD></TR>

<TR>

   <TD colSpan="2">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms and</FONT></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">conditions of coverage.</FONT></TD></TR>

<TR>

   <TD colSpan="2">&nbsp;</TD></TR>

<TR>

   <TD colSpan="2">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">All other terms, conditions and limitations of this policy shall remain unchanged.</FONT></TD></TR></TABLE></DIV>

<P style="MARGIN:0px">&nbsp;</P>

<P align="center">&nbsp;</P>

<P align="center">
</P></DIV>

<HR align="center" SIZE="2" width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE:always">&nbsp;</DIV>

<!--$$/page=--><A name="page_34"></A><BR>

<a name="_bclPageBorder34"></a><DIV style="PADDING-LEFT:0%; PADDING-RIGHT:0%">

<DIV align="left">

<TABLE cellSpacing="0" border="0">



<TR>

   <TD width="6%"></TD>

   <TD width="3%"></TD>

   <TD width="22%"></TD>

   <TD width="2%"></TD>

   <TD width="14%"></TD>

   <TD width="19%"></TD>

   <TD width="2%"></TD>

   <TD width="28%"></TD></TR>

<TR vAlign="bottom">

   <TD style="BORDER-BOTTOM:#000000 1px solid" colSpan="8" align="center"><B><FONT size="3" face="Georgia-Bold,Arial,Helvetica,sans-serif">FRAUDULENT TRANSFER INSTRUCTION ENDORSEMENT</FONT></B></TD></TR>

<TR>

   <TD colSpan="8">

   <HR SIZE="1" noShade>

</TD></TR>

<TR vAlign="bottom">

   <TD colSpan="2" align="left"><FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Named Assured</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right">&nbsp;</TD>

   <TD style="TEXT-INDENT:11.974pt" align="left"><FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Endorsement Number</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="BORDER-BOTTOM:#000000 1px solid" colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">ABRDN FUNDS</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">2</FONT></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="2" align="left"><FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Bond Number</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right">&nbsp;</TD>

   <TD style="TEXT-INDENT:7.974pt" align="left"><FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Bond Period</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right">&nbsp;</TD>

   <TD align="right"><FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Effective Date of Endorsement</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="BORDER-BOTTOM:#000000 1px solid" colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">J06017368</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid; TEXT-INDENT:7.974pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">05-14-2022</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to 05-14-2023</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">May 14, 2022</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left"><FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Issued By</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="BORDER-BOTTOM:#000000 1px solid" colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Federal Insurance Company</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD colSpan="8" align="center"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.</FONT></B></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="8" align="center"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">This endorsement modifies insurance provided under the following:</FONT></B></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="8" align="center"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">FINANCIAL INSTITUTION BOND FOR INVESTMENT COMPANIES</FONT></B></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="8" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">In consideration of the premium charged, it is agreed that solely with respect to coverage afforded under this</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:4.725pt" colSpan="5" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Endorsement, this Bond is amended as follows:</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD colSpan="8" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1) Item 2., Single Loss Limits Of Liability &#8211; Deductible Amounts, of the Declarations is amended to include the</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">following:</FONT></TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="BORDER-BOTTOM:#000000 1px solid; TEXT-INDENT:22.725pt" colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Insuring Clause</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Single Loss Limit of Liability</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="center"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Deductible Amount</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Fraudulent Transfer Instruction</FONT></TD>

   <TD align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">$</FONT></TD>

   <TD style="TEXT-INDENT:6.089pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">10,350,000</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">$</FONT></TD>

   <TD align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">50,000</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:4.725pt" colSpan="5" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2) The following Insuring Clause is added:</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" colSpan="5" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">14. Fraudulent Transfer Instruction</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" colSpan="8" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Loss resulting directly from the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">having, in good faith, transferred, paid, or delivered </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Money </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" colSpan="8" align="left"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in reliance upon a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Transfer Instruction </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">that purports, and reasonably appears, to have</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">originated from:</FONT></TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>

   <TD colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">;</FONT></TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>

   <TD colSpan="5" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">acting on instructions of such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">c.</FONT></TD>

   <TD colSpan="7" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a financial institution acting on behalf of such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">with authority to make such instructions,</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" colSpan="8" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">but which </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Transfer Instruction </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">was, in fact, fraudulently issued without the knowledge of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">,</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" colSpan="3" align="left"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, or </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" colSpan="6" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">As a condition precedent to coverage under this Insuring Clause , the:</FONT></TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">i.</FONT></TD>

   <TD colSpan="6" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">sender of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Transfer Instruction </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">must have authenticated such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Transfer Instruction </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">with the</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:1.518pt" colSpan="4" align="left"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer&#8217;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">authentication credentials or mechanism;</FONT></TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">ii.</FONT></TD>

   <TD colSpan="6" align="right"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">acting on the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Transfer Instruction </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">must obtain </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Verification </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">prior to any single</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD colSpan="6" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">transfer, payment, or delivery of funds in excess of the Deductible Amount set forth in Paragraph (1)</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:1.518pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of this Endorsement; and</FONT></TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">iii.</FONT></TD>

   <TD colSpan="6" align="right"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall assert any available claims, offsets, or defenses against such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, any financial</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:1.518pt" colSpan="4" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">institution, or any other party to the transaction.</FONT></TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:4.725pt" colSpan="6" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(3) The Definition of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is deleted and replaced with the following:</FONT></TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" colSpan="8" align="left"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means any shareholder of an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">which has a written agreement with the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" colSpan="8" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">transfer such shareholder&#8217;s </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Money </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">through a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Voice Initiated Funds Transfer</FONT></B></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" colSpan="5" align="left"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Instruction </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">or a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Transfer Instruction</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">.</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN:0px">&nbsp;</P>

<P style="TEXT-ALIGN:left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52913 (08/21)</FONT></P>

<P style="TEXT-ALIGN:left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 1 of 2</FONT></P></DIV>

<HR align="center" SIZE="2" width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE:always">&nbsp;</DIV>

<!--$$/page=--><A name="page_35"></A><BR>

<a name="_bclPageBorder35"></a><DIV style="PADDING-LEFT:0%; PADDING-RIGHT:0%">

<DIV align="left">

<TABLE cellSpacing="0" border="0">



<TR>

   <TD width="6%"></TD>

   <TD width="3%"></TD>

   <TD width="89%"></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(4) The following Definitions are added:</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" colSpan="3" align="left"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Telefacsimile </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means a system of transmitting a facsimile of a tangible document by electronic signals over</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">telephone lines to a piece of equipment maintained for the specific purpose of receiving such signals and</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">printing such facsimile on a tangible medium.</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" colSpan="3" align="left"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Transfer Instruction </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means those instructions, other than any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Voice Initiated Funds Transfer</FONT></B></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" colSpan="3" align="left"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Instruction</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, which authorize the transfer of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Money </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">in a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer&#8217;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">account, or of a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer&#8217;s</FONT></B></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" colSpan="3" align="left"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Securities</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, and which are:</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>

   <TD colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">transmitted to the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">via:</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">i.</FONT></TD>

   <TD align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">any electronic instruction, including an e-mail, that is delivered through an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Electronic</FONT></B></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Communication System </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">and that is capable of retention by the recipient at the time of receipt;</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">ii.</FONT></TD>

   <TD align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">telex, or </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Telefacsimile </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">instruction; or</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">iii.</FONT></TD>

   <TD align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">automated telephone system; and</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>

   <TD colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">received by an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">specifically authorized by the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to receive and act upon such</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">instructions.</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" colSpan="3" align="left"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Verification </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">means an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">:</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>

   <TD colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">attempted to verify the authenticity of such </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Transfer Instruction </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">by communicating with the</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD colSpan="2" align="left"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, or natural person purporting to be the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">via any communication method, other</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">than e-mail, prior to any single transfer, payment, or delivery of funds, and contemporaneously</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">documented the communication method utilized and the result of such attempt in writing; and</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>

   <TD colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">contemporaneously documented the use of the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer&#8217;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">authentication credentials or mechanism.</FONT></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(5) Exclusion 2.a. is deleted and replaced with the following:</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>

   <TD colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the acts of an </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Employee</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, except for loss covered under:</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">i.</FONT></TD>

   <TD align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Insuring Clause 2 or 3 which results directly from misplacement, mysterious unexplainable</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">disappearance, or damage or destruction of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">ii.</FONT></TD>

   <TD align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Insuring Clause 11 or ;</FONT></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(6) The following Exclusion is added:</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">This Bond does not cover loss resulting directly or indirectly from any </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Transfer Instruction </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">from a:</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">a.</FONT></TD>

   <TD colSpan="2" align="left"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">; or</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:18pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">b.</FONT></TD>

   <TD colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">natural person with authorized access to the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Customer&#8217;s </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">authentication credentials or mechanism.</FONT></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="3" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms and</FONT></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">conditions of coverage.</FONT></TD></TR>

<TR>

   <TD colSpan="3">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">All other terms, conditions and limitations of this Bond shall remain unchanged.</FONT></TD></TR></TABLE></DIV>

<P style="MARGIN:0px">&nbsp;</P>

<P align="center">
 </P>

<P style="TEXT-ALIGN:left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52913 (08/21)</FONT></P>

<P style="TEXT-ALIGN:left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 2 of 2</FONT></P></DIV>

<HR align="center" SIZE="2" width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE:always">&nbsp;</DIV>

<A name="page_36"></A><BR>

<a name="_bclPageBorder36"></a><DIV style="PADDING-LEFT:0%; PADDING-RIGHT:0%">

<DIV align="left">

<TABLE cellSpacing="0" border="0">



<TR>

   <TD width="33%"></TD>

   <TD width="17%"></TD>

   <TD width="7%"></TD>

   <TD width="14%"></TD>

   <TD width="27%"></TD></TR>

<TR vAlign="bottom">

   <TD style="BORDER-BOTTOM:#000000 1px solid" colSpan="5" align="center"><B><FONT size="3" face="Georgia-Bold,Arial,Helvetica,sans-serif">SCHEDULE OF OTHER ASSUREDS ENDORSEMENT</FONT></B></TD></TR>

<TR>

   <TD colSpan="5">

   <HR SIZE="1" noShade>

</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD align="left"><FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Named Assured</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right"><FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Endorsement Number</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">ABRDN FUNDS</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">3</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left"><FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Bond Number</FONT></TD>

   <TD style="TEXT-INDENT:9.743pt" align="left"><FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Bond Period</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right"><FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Effective Date of Endorsement</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">J06017368</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid; TEXT-INDENT:19.847pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">05-14-2022</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">05-14-2023</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">05-14-2022</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left"><FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Issued By</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Federal Insurance Company</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left">&nbsp;</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="center"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.</FONT></B></TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="center"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">This endorsement modifies insurance provided under the following:</FONT></B></TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="center"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">FINANCIAL INSTITUTION BOND FOR INVESTMENT COMPANIES</FONT></B></TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:4.725pt" colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">In consideration of the premium charged, it is agreed that:</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1) In addition to the first named </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Investment Company(ies) </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">scheduled in Paragraph (2) of this</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Endorsement is/are the other </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured(s) </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">under this Bond.</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:4.725pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2) Schedule of Other </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assureds</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">:</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Aberdeen Total Dynamic Dividend Fund Aberdeen Global Dynamic Dividend Fund Aberdeen Global Premier</FONT></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Properties Fund Aberdeen Emerging Markets Equity Income Fund Aberdeen Income Credit Strategies Fund</FONT></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">abrdn Asia-Pacific Income Fund VCC Aberdeen Asia-Pacific Income Fund Aberdeen Australia Equity Fund</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Aberdeen Global Income Fund</FONT></TD>

   <TD colSpan="4" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Aberdeen Japan Equity Fund Aberdeen Standard Global Infrastructure</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Income Fund abrdn Funds, a series fund consisting of: O</FONT></TD>

   <TD colSpan="2" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">abrdn China A Share Equity Fund O abrdn</FONT></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Dynamic Dividend Fund O abrdn Emerging Markets Debt Fund O abrdn Emerging Markets Fund O abrdn</FONT></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Emerging Markets Sustainable Leaders Fund (fka Aberdeen International Equity Fund) O abrdn Global</FONT></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Absolute Return Strategies Fund O abrdn Global Equity Fund O abrdn Global Infrastructure Fund O abrdn</FONT></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Intermediate Municipal Income Fund O abrdn International Real Estate Equity Fund O abrdn International</FONT></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Small Cap Fund O abrdn Realty Income and Growth Fund O abrdn Short Duration High Yield Municipal</FONT></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Fund O abrdn US Small Cap Equity Fund O abrdn US Sustainable Leaders Fund (fka Aberdeen U.S. Multi-</FONT></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Cap Equity Fund) O abrdn US Sustainable Leaders Smaller Companies Fund (fka Aberdeen Focused U.S.</FONT></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Equity Fund) O abrdn Ultra Short Municipal Income Fund O abrdn International Sustainable Leaders Fund</FONT></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(fka Aberdeen Select International Equity Fund O abrdn Global Equity Impact Fund O abrdn Global High</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Income Fund O EM SMA Completion Fund</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms and</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:4.725pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">conditions of coverage.</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:4.725pt" colSpan="4" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">All other terms, conditions and limitations of this Bond shall remain unchanged.</FONT></TD>

   <TD align="left">&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN:0px">&nbsp;</P>

<P align="center">
 </P>

<P style="TEXT-ALIGN:left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-52916 (08/21)</FONT></P>

<P style="TEXT-ALIGN:left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 1 of 1</FONT></P></DIV>

<HR align="center" SIZE="2" width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE:always">&nbsp;</DIV>

<!--$$/page=--><A name="page_37"></A><BR>

<a name="_bclPageBorder37"></a><DIV style="PADDING-LEFT:0%; PADDING-RIGHT:0%">

<DIV align="left">

<TABLE cellSpacing="0" border="0">



<TR>

   <TD width="10%"></TD>

   <TD width="40%"></TD>

   <TD width="6%"></TD>

   <TD width="14%"></TD>

   <TD width="27%"></TD></TR>

<TR vAlign="bottom">

   <TD style="BORDER-BOTTOM:#000000 1px solid" colSpan="5" align="center"><B><FONT size="3" face="Georgia-Bold,Arial,Helvetica,sans-serif">AGGREGATE LIMIT OF LIABILITY ENDORSEMENT</FONT></B></TD></TR>

<TR>

   <TD colSpan="5">

   <HR SIZE="1" noShade>

</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD align="left"><FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Named Assured</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right"><FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Endorsement Number</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="BORDER-BOTTOM:#000000 1px solid" colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">ABRDN FUNDS</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">4</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left"><FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Bond Number</FONT></TD>

   <TD align="center"><FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Bond Period</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="right"><FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Effective Date of Endorsement</FONT></TD></TR>

<TR vAlign="bottom">

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">J06017368</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid; TEXT-INDENT:138.021pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">05-14-2022</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">to</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">05-14-2023</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="right"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">May 14, 2022</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left"><FONT size="1" face="Georgia,Arial,Helvetica,sans-serif">Issued By</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="BORDER-BOTTOM:#000000 1px solid" colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">May 14, 2022</FONT></TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left">&nbsp;</TD>

   <TD style="BORDER-BOTTOM:#000000 1px solid" align="left">&nbsp;</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="center"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.</FONT></B></TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="center"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">This endorsement modifies insurance provided under the following:</FONT></B></TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="center"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">FINANCIAL INSTITUTION BOND FOR INVESTMENT COMPANIES</FONT></B></TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:4.725pt" colSpan="5" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">In consideration of the premium charged, it is agreed that this Bond is amended as follows:</FONT></TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:4.725pt" colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1) The following is added to the Declarations:</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Item 3. Aggregate Limit Of Liability: $10,350,000</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:4.725pt" colSpan="5" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2) Section 8., Limit Of Liability, of the Conditions and Limitations is deleted and replaced with the following:</FONT></TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:22.725pt" colSpan="2" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">8. Limit Of Liability</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:40.725pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">A.</FONT></TD>

   <TD style="TEXT-INDENT:2.393pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Aggregate Limit Of Liability</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:2.393pt" colSpan="4" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The Company&#8217;s total cumulative liability for all </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Single Loss </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">of all </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assureds </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">discovered during the</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:2.393pt" colSpan="4" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Bond Period shall not exceed the Aggregate Limit Of Liability as stated in Item 3 of the Declarations.</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:2.393pt" colSpan="4" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Each payment made under the terms of this Bond shall reduce the unpaid portion of the Aggregate</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:2.393pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Limit Of Liability until it is exhausted.</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:2.393pt" colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">On exhausting the Aggregate Limit Of Liability by such payments:</FONT></TD>

   <TD align="left">&nbsp;</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:2.393pt" colSpan="4" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(1) the Company shall have no further liability for loss or losses regardless of when discovered and</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:20.393pt" colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">whether or not previously reported to the Company; and</FONT></TD>

   <TD align="left">&nbsp;</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:2.393pt" colSpan="4" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">(2) the Company shall have no obligation under General Agreement 3 to continue the defense of the</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD colSpan="4" align="right"><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured</FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">, and on notice by the Company to the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">that the Aggregate Limit Of Liability</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:20.393pt" colSpan="4" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">has been exhausted, the </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Assured </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall assume all responsibility for its defense at its own cost.</FONT></TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:2.393pt" colSpan="4" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The unpaid portion of the Aggregate Limit Of Liability shall not be increased or reinstated by any</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:2.393pt" colSpan="4" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">recovery made and applied in accordance with Section 12., Subrogation &#8211; Assignment &#8211; Recovery. In</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:2.393pt" colSpan="4" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">the event that a loss of </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Property </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is settled by indemnity in lieu of payment, then such loss shall not</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:2.393pt" colSpan="3" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">reduce the unpaid portion of the Aggregate Limit Of Liability.</FONT></TD>

   <TD align="left">&nbsp;</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD style="TEXT-INDENT:40.725pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">B.</FONT></TD>

   <TD style="TEXT-INDENT:2.393pt" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Single Loss Limit Of Liability</FONT></TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD>

   <TD align="left">&nbsp;</TD></TR>

<TR>

   <TD colSpan="5">&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:2.393pt" colSpan="4" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The Company&#8217;s liability for each </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Single Loss </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">shall not exceed the applicable Single Loss Limit Of</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:2.393pt" colSpan="4" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Liability as stated in Item 2 of the Declarations or the unpaid portion of the Aggregate Limit Of</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left">&nbsp;</TD>

   <TD style="TEXT-INDENT:2.393pt" colSpan="4" align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Liability, whichever is less. If a </FONT><B><FONT size="2" face="Georgia-Bold,Arial,Helvetica,sans-serif">Single Loss </FONT></B><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">is covered under more than one Insuring Clause, the</FONT></TD></TR>

<TR vAlign="bottom">

   <TD colSpan="5" align="center"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">maximum payable shall not exceed the largest applicable Single Loss Limit Of Liability.</FONT></TD></TR></TABLE></DIV>

<P style="MARGIN:0px">&nbsp;</P>

<P style="TEXT-ALIGN:left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-53221 (08/21)</FONT></P>

<P style="TEXT-ALIGN:left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 1 of 2</FONT></P></DIV>

<HR align="center" SIZE="2" width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE:always">&nbsp;</DIV>

<A name="page_38"></A><BR>

<a name="_bclPageBorder38"></a><DIV style="PADDING-LEFT:0%; PADDING-RIGHT:0%">

<DIV align="left">

<TABLE cellSpacing="0" border="0">



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign="bottom">

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms and</FONT></TD></TR>

<TR vAlign="bottom">

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">conditions of coverage.</FONT></TD></TR>

<TR>

   <TD>&nbsp;</TD></TR>

<TR>

   <TD>&nbsp;</TD></TR>

<TR vAlign="bottom">

   <TD align="left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">All other terms, conditions and limitations of this Bond shall remain unchanged.</FONT></TD></TR></TABLE></DIV>

<P style="MARGIN:0px">&nbsp;</P>

<P align="center">
 </P>

<P style="TEXT-ALIGN:left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">PF-53221 (08/21)</FONT></P>

<P style="TEXT-ALIGN:left"><FONT size="2" face="Georgia,Arial,Helvetica,sans-serif">Page 2 of 2</FONT></P></DIV>


<div style="page-break-before:always;"></div>
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">JOINT INSURED AGREEMENT </font></u></b><b><u style="font-weight:bold;"><br>  </u></b><b><u style="font-weight:bold;">DIRECTORS/TRUSTEES&nbsp;&amp; OFFICERS/ERRORS&nbsp;&amp; OMISSIONS POLICY AND <br> INDEPENDENT DIRECTORS LIABILITY POLICY</u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This AGREEMENT (&#147;Agreement&#148;) is dated as of May&nbsp;&nbsp;&nbsp;, 2022, among the funds set forth in Schedule A to this Agreement (the &#147;Funds&#148;).&#160; In this Agreement, the Funds are sometimes referred to collectively as the &#147;Parties&#148; and individually as a &#147;Party.&#148;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">WHEREAS, each of the Parties is either a&#160; management investment company registered under the Investment Company Act of 1940, as amended (the &#147;Act&#148;) (a &#147;Registered Fund&#148;), or </font>in the case of abrdn Asia-Pacific Income Fund VCC (&#147;FAP&#148;), </font>a Canadian listed fund and an investment fund governed under National Instrument 81-102 <i>Investment Funds</i> in Canada (a &#147;Canadian Fund&#148;);</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, Rule&nbsp;17d-1(d)(7)&nbsp;under the Act permits arrangements regarding liability insurance policies among U.S. registered investment companies and their affiliates provided certain conditions are met;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, FAP has the corporate power and authority to participate in this Agreement; and</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Board members on behalf the Funds (including, for the Registered Funds, a majority of the Board members who are not &#147;interested persons&#148; of the relevant Registered Fund, as defined by Section&nbsp;2(a)(19) of the Act) have given due consideration to the amount and ratable allocation of premiums for a joint insured directors/trustees and officers and errors and omissions liability policy (the &#147;Joint D&amp;O/E&amp;O Policy&#148;) and joint Independent Directors/Trustees Liability Policy (the &#147;Joint IDL Policy&#148; and with the Joint D&amp;O/E&amp;O Policy, the &#147;Policy&#148;) and (i)&nbsp;have approved each particular Fund&#146;s participation in such policy as being in the best interests of that Fund, and (ii)&nbsp;have determined that the allocation of the premium for the joint insurance policy to be allocated to each particular Fund as set forth herein is fair and reasonable to that Fund; and</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, pursuant to the requirements of 17d-1(d)(7)(iii)&nbsp;of the Act, the Policy does not exclude coverage for bona fide claims made against any Board member who is not an interested person of the Registered Funds, or against a Registered Fund if it is a co-defendant in the claim with the disinterested Board member, by another person insured under the Policy.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE, the Parties hereto, in consideration of the mutual covenants contained herein, hereby agree as follows:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Joint Policy</u>.&#160; To insure the Parties to this Agreement, and their respective Board members and officers, against their errors or omissions, the Parties shall purchase, as applicable, a Joint D&amp;O/E&amp;O Policy and a Joint IDL Policy from reputable insurance companies (collectively, the &#147;Insurer&#148;).</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">1<a name="PB_1_052255_8146"></a></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='1',FILE='C:\JMS\109955\22-20474-10\task11606091\20474-10-bk.htm',USER='109955',CD='Jul  6 05:25 2022' -->

<div style="page-break-before:always;"></div>
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Limits of Liability</u>.&#160; The limit of the Insurer&#146;s liability under the Policy shall not be less than the amount approved by the Board of each of the Parties.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Allocation of Premium</u>.&#160; Each Fund agrees to pay its proportionate share of the total premium due under the Policy, which shall be determined based upon each Fund&#146;s share of the sum of the premiums that would have been paid if such insurance coverage were purchased separately by the insured parties and shall be determined by the Boards of the Funds to be a fair and reasonable allocation of the premiums. At the inception of this Agreement, the allocation of the premium is based on the premium spend of each Fund as a proportion of the total combined premium for each Fund&#146;s previous separate insurance programs.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Allocation of Recovery</u>.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The term &#147;Fund Loss&#148; for a Fund as used in this Section&nbsp;4 shall mean any Loss or Losses (as such term or similar term is defined in the Policy) sustained by that Fund or by or on behalf of an officer, Board member or (if applicable) employee of the Fund in his or her capacity as such (collectively, the &#147;Fund Insureds&#148;) for which (i)&nbsp;the Insurer has acknowledged a partial or complete exhaustion of any applicable Retention or Retentions (as such term or similar term is defined in the Policy), (ii)&nbsp;actual payment is made under the Policy by the Insurer to one or more Fund Insureds of the Fund (whether on the Fund&#146;s behalf or on behalf of another Fund Insured), or (iii)&nbsp;the Insurer would have acknowledged or paid under the Policy if the limits of the Insurer&#146;s liability under the Policy had not been exhausted.&#160; The term &#147;Related Fund Loss&#148; shall mean any related or interrelated (as such term or similar term is defined and addressed in the Policy) Fund Losses sustained by a Fund Insured in connection with one or more of a number of claims that are treated as a single claim under the Policy for a particular policy period.&#160; The term &#147;Recovery&#148; shall mean the aggregate amount acknowledged or paid by the Insurer to a Fund Insured (or would have been acknowledged or paid by the Insurer but for the exhaustion of the Insurer&#146;s limits of liability), with respect to any Fund Losses or Related Fund Losses.&#160; For purposes of the allocation of proceeds under this Section&nbsp;4, any Losses sustained by any insured officer, Board member or (if applicable) employee of any Fund shall be deemed to be Fund Losses of such Fund.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>If more than one of the Fund Insureds of one or more Funds sustain any Fund Loss for which Recovery is actually acknowledged or received under the Policy during a single policy period, then the Fund Insureds of each such Fund shall receive that portion of the Recovery that is sufficient in amount to reimburse or indemnify the Fund Insureds of each such Fund in full for the Fund Loss sustained by them or on behalf of another Fund Insured, unless the Recovery is less than the amount needed to fully reimburse or indemnify all such Fund Insureds sustaining such Fund Loss.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>If the Recovery is less than the amount required to fully reimburse or indemnify all Fund Insureds sustaining any Fund Losses covered under a single policy period because the Insurer&#146;s limits of liability under the Joint D&amp;O/E&amp;O Policy have been exhausted, then the Recovery shall be allocated fairly and reasonably among the Funds whose Fund Insureds sustained such Fund Losses in proportion to the Joint D&amp;O/E&amp;O Policy premium paid by each such Fund.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">2<a name="PB_2_052325_7091"></a></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\109955\22-20474-10\task11606091\20474-10-bk.htm',USER='109955',CD='Jul  6 05:25 2022' -->

<div style="page-break-before:always;"></div>
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>If the Recovery is less than the amount required to fully reimburse or indemnify all Fund Insureds of a Fund sustaining any Fund Losses covered under a single policy period because the Insurer&#146;s limits of liability under the Joint IDL Policy have been exhausted, or would have been covered but for the exhaustion of the Insurer&#146;s limits of liability, then the Recovery shall be allocated fairly and reasonably among the Funds whose Fund Insureds sustained those Fund Losses in proportion to the Joint IDL Policy premium paid by each such Fund.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>If the Fund Insureds of any Fund are unable to fully recover the amount required to fully reimburse or indemnify any and all Fund Losses sustained by such Fund Insureds under a Policy in a given policy period up to that Fund&#146;s proportional allocated amount pursuant to paragraphs 4(c)&nbsp;or (d)&nbsp;hereof because the Insurer has fully paid its limit of liability under such policy period, and the Fund Insureds of any other Fund have recovered under that Policy in the same policy period above the proportional&#160; amount that would have been allocated to them had all Fund Losses sustained by all Fund Insureds been allocated pursuant to paragraphs 4(c)&nbsp;or (d)&nbsp;hereof (a &#147;Full Allocation&#148;), then the Fund or Funds whose Fund Insureds receiving such payment above their proportional allocated amount shall reimburse those Funds whose Fund Insureds that were unable to recover what would have been their full proportional allocated amounts from the Insurer had there been a Full Allocation and any Fund Insureds receiving any payment above their proportional allocated amount either from the Insurer or another Fund Insured(s)&nbsp;shall continue to reimburse any such Fund Insureds that have not been paid their proportional allocated amount until all Fund Losses incurred by all Fund Insured in any single policy period are proportionally allocated pursuant to paragraphs 4(c)&nbsp;or (d)&nbsp;hereof.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>In the event it is finally adjudicated that any payment of any Fund Losses, or any portion of any Fund Losses, are not insurable or covered under the Policy and subject to repayment to the Insurer and the replenishment of the limits of liability pursuant to the terms, conditions and exclusions of the Policy, such repayments demanded by and actually paid to the Insurer and deemed a replenishment of the limit of liability in the applicable policy period shall then be applied and paid to any Fund Insured on the proportional allocated basis otherwise required pursuant to paragraphs 4(c), (d)&nbsp;or (e)&nbsp;hereof.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Term</u>.&#160;&#160; Subject to paragraph 7 hereof, this Agreement shall remain in effect as long as (a)&nbsp;the Board members of the Registered Funds (including a majority of the Board members of the relevant Registered Funds who are not &#147;interested persons,&#148; as defined by Section&nbsp;2(a)(19) of the Act, of such Party) makes the annual determinations respecting the Policy required under Rule&nbsp;17d-1(d)(7), and (b)&nbsp;the Board of each Fund annually approves the renewal of the Policy.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Withdrawal and Amendments</u>.&#160;&#160; Any Party may withdraw from this Agreement at any time and cease to be Party hereto (except with respect to Fund Losses actually incurred prior to such withdrawal) by giving written notice to the other Parties of such withdrawal.&#160; Upon withdrawal, a withdrawing Party shall be entitled to receive any premium rebated by the Insurer with respect to such withdrawal as is determined by the Parties to be equitable.&#160; This Agreement may be amended by the Parties hereto in a written agreement signed by all such Parties.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">3<a name="PB_3_052333_455"></a></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\109955\22-20474-10\task11606091\20474-10-bk.htm',USER='109955',CD='Jul  6 05:25 2022' -->

<div style="page-break-before:always;"></div>
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Governing Law</u>.&#160;&#160; This Agreement shall be construed in accordance with the laws of the state of Delaware.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>No Assignment</u>.&#160; This Agreement is not assignable.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Notices</u>.&#160;&#160; All notices and other communications hereunder shall be in writing or electronic and shall be addressed to the Parties by mail at abrdn Inc., 1900 Market Street, Suite&nbsp;200, Philadelphia, PA 19103, Attn: Product Governance and electronically at ProductGovernanceUS@abrdn.com.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Counterparts</u>.&#160; This Agreement may be executed in any number of counterparts, each of which, when executed and delivered shall be deemed to be an original, but all of which together shall constitute one and the same instrument.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF, each of the Parties hereto has duly executed this Agreement as of the day and year first above written.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Funds, on behalf of its series portfolios,   individually and not jointly</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Emerging Markets Equity Income   Fund,&nbsp;Inc.</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Australia Equity Fund,&nbsp;Inc.</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Asia-Pacific Income Fund,&nbsp;Inc.</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Global Income Fund,&nbsp;Inc.</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The India Fund,&nbsp;Inc.</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Japan Equity Fund,&nbsp;Inc.</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Income Credit Strategies Fund</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Global Dynamic Dividend Fund</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Total Dynamic Dividend Fund</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Global Premier Properties Fund</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Standard Global Infrastructure Income   Fund</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Asia-Pacific Income Fund VCC</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">4<a name="PB_4_052447_4141"></a></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\109955\22-20474-10\task11606091\20474-10-bk.htm',USER='109955',CD='Jul  6 05:25 2022' -->

<div style="page-break-before:always;"></div>
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SCHEDULE A</font></u></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TO JOINT INSURED AGREEMENT</font></u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dated May&nbsp;&nbsp;&nbsp;, 2022</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Funds participating in the Agreement as of May&nbsp;&nbsp;&nbsp;, 2022</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .55in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Funds, on behalf of its series portfolios, individually and not jointly</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn U.S. Sustainable Leaders Smaller Companies Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn U.S. Small Cap Equity Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn China A Share Equity Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Emerging Markets Sustainable Leaders Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Global Equity Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Emerging Markets Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Emerging Markets Debt Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Global Absolute Return Strategies Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn International Small Cap Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Intermediate Municipal Income Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn U.S. Sustainable Leaders Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Dynamic Dividend Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Global Infrastructure Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Short Duration High Yield Municipal Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn International Real Estate Equity Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Realty Income&nbsp;&amp; Growth Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Ultra Short Municipal Income Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Global High Income Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn International Sustainable Leaders Fund</font></p>
<p style="margin:0in 0in .0001pt 67.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Global Equity Impact Fund</font></p>
<p style="margin:0in 0in .0001pt .55in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Emerging Markets Equity Income Fund,&nbsp;Inc.</font></p>
<p style="margin:0in 0in .0001pt .55in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Australia Equity Fund,&nbsp;Inc.</font></p>
<p style="margin:0in 0in .0001pt .55in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Asia-Pacific Income Fund,&nbsp;Inc.</font></p>
<p style="margin:0in 0in .0001pt .55in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Global Income Fund,&nbsp;Inc.</font></p>
<p style="margin:0in 0in .0001pt .55in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The India Fund,&nbsp;Inc.</font></p>
<p style="margin:0in 0in .0001pt .55in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Japan Equity Fund,&nbsp;Inc.</font></p>
<p style="margin:0in 0in .0001pt .55in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Income Credit Strategies Fund</font></p>
<p style="margin:0in 0in .0001pt .55in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Global Dynamic Dividend Fund</font></p>
<p style="margin:0in 0in .0001pt .55in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Total Dynamic Dividend Fund</font></p>
<p style="margin:0in 0in .0001pt .55in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Global Premier Properties Fund</font></p>
<p style="margin:0in 0in .0001pt .55in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Standard Global Infrastructure Income Fund</font></p>
<p style="margin:0in 0in .0001pt .55in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Asia-Pacific Income Fund VCC</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Acknowledged:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Funds, on behalf of its series portfolios,   individually and not jointly</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\109955\22-20474-10\task11606091\20474-10-bk.htm',USER='109955',CD='Jul  6 05:25 2022' -->

<div style="page-break-before:always;"></div>
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Emerging Markets Equity Income   Fund,&nbsp;Inc.</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Australia Equity Fund,&nbsp;Inc.</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Asia-Pacific Income Fund,&nbsp;Inc.</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Global Income Fund,&nbsp;Inc.</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The India Fund,&nbsp;Inc.</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Japan Equity Fund,&nbsp;Inc.</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Income Credit Strategies Fund</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Global Dynamic Dividend Fund</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Total Dynamic Dividend Fund</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Global Premier Properties Fund</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aberdeen Standard Global Infrastructure Income   Fund</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">abrdn Asia-Pacific Income Investment Fund VCC</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\109955\22-20474-10\task11606091\20474-10-bk.htm',USER='109955',CD='Jul  6 05:25 2022' -->

</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g2047410bgi001.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g2047410bgi001.gif
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M3DY.[.SLR,C((R,CL;&Q<W-S2TM+Y^?GP\/#(2$AK:VMS,S,G9V=GY^?P,#
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:>B]L%$"56S N<8R\0N027S@2)?XX  0$ #L!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
