<SEC-DOCUMENT>0001680359-17-000669.txt : 20171220
<SEC-HEADER>0001680359-17-000669.hdr.sgml : 20171220
<ACCEPTANCE-DATETIME>20171220133902
ACCESSION NUMBER:		0001680359-17-000669
CONFORMED SUBMISSION TYPE:	40-17G
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20171220
DATE AS OF CHANGE:		20171220
EFFECTIVENESS DATE:		20171220

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE GROUP ADVISER FUNDS
		CENTRAL INDEX KEY:			0000910682
		IRS NUMBER:				521842569
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07972
		FILM NUMBER:		171266355

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP ADVISER FUNDS INC /MD/
		DATE OF NAME CHANGE:	19961202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP ADVISER FUNDS INC
		DATE OF NAME CHANGE:	19960508

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LINCOLN ADVISOR FUNDS INC
		DATE OF NAME CHANGE:	19931203

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE INVESTMENTS ARIZONA MUNICIPAL INCOME FUND, INC
		CENTRAL INDEX KEY:			0000895577
		IRS NUMBER:				411737155
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0330

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07412
		FILM NUMBER:		171266369

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE INVESTMENTS ARIZONA MUNICIPAL INCOME FUND INC
		DATE OF NAME CHANGE:	20020327

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR ARIZONA MUNICIPAL INCOME FUND INC
		DATE OF NAME CHANGE:	19930519

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Delaware Investments National Municipal Income Fund
		CENTRAL INDEX KEY:			0000895574
		IRS NUMBER:				411737161
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0330

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07410
		FILM NUMBER:		171266364

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE INVESTMENTS FLORIDA INSURED MUNICIPAL INCOME FUND
		DATE OF NAME CHANGE:	20020327

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR FLORIDA INSURED MUNICIPAL INCOME FUND
		DATE OF NAME CHANGE:	19930519

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR FLORIDA INSURD MUNICIPAL INCOME FUND
		DATE OF NAME CHANGE:	19930122

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE INVESTMENTS MINNESOTA MUNICIPAL INCOME FUND II, INC
		CENTRAL INDEX KEY:			0000895658
		IRS NUMBER:				411737158
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0330

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07420
		FILM NUMBER:		171266365

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE INVESTMENTS MINNESOTA MUNICIPAL INCOME FUND II INC
		DATE OF NAME CHANGE:	20020327

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR MINNESOTA MUNICIPAL INCOME FUND II INC
		DATE OF NAME CHANGE:	19930519

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Delaware Investments Colorado Municipal Income Fund, Inc.
		CENTRAL INDEX KEY:			0000907573
		IRS NUMBER:				411751991
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0330

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07810
		FILM NUMBER:		171266368

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE INV COLORADO INSURED MUNICIPAL INCOME FUND INC
		DATE OF NAME CHANGE:	20020327

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR COLORADO INSURED MUNICIPAL INCOME FUND INC
		DATE OF NAME CHANGE:	19930621

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE GROUP EQUITY FUNDS IV
		CENTRAL INDEX KEY:			0000778108
		IRS NUMBER:				232369628
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04413
		FILM NUMBER:		171266379

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP EQUITY FUNDS IV INC
		DATE OF NAME CHANGE:	19970128

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP DELCAP FUND INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELCAP FUND INC
		DATE OF NAME CHANGE:	19880929

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE GROUP CASH RESERVE
		CENTRAL INDEX KEY:			0000230173
		IRS NUMBER:				232059574
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-02806
		FILM NUMBER:		171266382

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP CASH RESERVE /DE/
		DATE OF NAME CHANGE:	20000526

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP CASH RESERVE INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP CASH RESERVE
		DATE OF NAME CHANGE:	19920527

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE GROUP FOUNDATION FUNDS
		CENTRAL INDEX KEY:			0001048133
		IRS NUMBER:				232943633
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-08457
		FILM NUMBER:		171266377

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET ST
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET ST
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE GROUP TAX FREE MONEY FUND
		CENTRAL INDEX KEY:			0000320572
		IRS NUMBER:				232151642
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-03120
		FILM NUMBER:		171266370

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP TAX FREE MONEY FUND INC /
		DATE OF NAME CHANGE:	19930708

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP TAX FREE MONEY FUND INC
		DATE OF NAME CHANGE:	19921008

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE TAX FREE MONEY FUND INC
		DATE OF NAME CHANGE:	19880710

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE GROUP GOVERNMENT FUND
		CENTRAL INDEX KEY:			0000769220
		IRS NUMBER:				232448685
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04304
		FILM NUMBER:		171266375

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP GOVERNMENT FUND INC
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE GROUP INCOME FUNDS
		CENTRAL INDEX KEY:			0000027825
		IRS NUMBER:				232869117
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-02071
		FILM NUMBER:		171266374

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP INCOME FUNDS INC
		DATE OF NAME CHANGE:	19961202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP DELCHESTER HIGH YIELD BOND FUND INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELCHESTER BOND FUND INC
		DATE OF NAME CHANGE:	19880718

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE GROUP TAX FREE FUND
		CENTRAL INDEX KEY:			0000728352
		IRS NUMBER:				232448684
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-03850
		FILM NUMBER:		171266371

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP TAX FREE FUND INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DMC TAX FREE INCOME USA INC
		DATE OF NAME CHANGE:	19890904

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DMC TAX FREE BOND FUND INC
		DATE OF NAME CHANGE:	19831122

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VOYAGEUR TAX FREE FUNDS
		CENTRAL INDEX KEY:			0000733362
		IRS NUMBER:				411473323
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-03910
		FILM NUMBER:		171266356

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR TAX FREE FUNDS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR MINNESOTA TAX FREE FUNDS INC
		DATE OF NAME CHANGE:	19910226

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DOUBLE EXEMPT FLEX FUND INC
		DATE OF NAME CHANGE:	19900131

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VOYAGEUR INTERMEDIATE TAX FREE FUNDS
		CENTRAL INDEX KEY:			0000773675
		IRS NUMBER:				411522882
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04364
		FILM NUMBER:		171266360

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR INTERMEDIATE TAX FREE FUNDS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR MINNESOTA INTERMEDIATE TAX FREE FUNDS INC
		DATE OF NAME CHANGE:	19920305

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DOUBLE EXEMPT CAPITAL CONSERVATION FUND INC
		DATE OF NAME CHANGE:	19900131

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VOYAGEUR INSURED FUNDS
		CENTRAL INDEX KEY:			0000809064
		IRS NUMBER:				411686735
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04973
		FILM NUMBER:		171266361

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR INSURED FUNDS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR MINNESOTA INSURED FUNDS INC
		DATE OF NAME CHANGE:	19910926

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MINNESOTA INSURED FUND INC
		DATE OF NAME CHANGE:	19900131

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VOYAGEUR MUTUAL FUNDS
		CENTRAL INDEX KEY:			0000906236
		IRS NUMBER:				411720518
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07742
		FILM NUMBER:		171266359

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR MUTUAL FUNDS INC
		DATE OF NAME CHANGE:	19930714

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE GROUP STATE TAX-FREE INCOME TRUST
		CENTRAL INDEX KEY:			0000201670
		IRS NUMBER:				232021993
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-02715
		FILM NUMBER:		171266372

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18002552139

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP STATE TAX FREE INCOME TRUST/PA/
		DATE OF NAME CHANGE:	19980423

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DMC TAX FREE INCOME TRUST PA
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VOYAGEUR MUTUAL FUNDS II
		CENTRAL INDEX KEY:			0000809872
		IRS NUMBER:				841044878
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04989
		FILM NUMBER:		171266358

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR MUTUAL FUNDS INC-II
		DATE OF NAME CHANGE:	19940328

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR COLORADO TAX FREE FUND INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COLORADO DOUBLE TAX EXEMPT FUND INC
		DATE OF NAME CHANGE:	19900625

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE GROUP EQUITY FUNDS I
		CENTRAL INDEX KEY:			0000027801
		IRS NUMBER:				261651457
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-00249
		FILM NUMBER:		171266381

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP EQUITY FUNDS I INC
		DATE OF NAME CHANGE:	19970604

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP DELAWARE FUND INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE FUND INC
		DATE OF NAME CHANGE:	19880718

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE POOLED TRUST
		CENTRAL INDEX KEY:			0000875352
		IRS NUMBER:				232651511
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06322
		FILM NUMBER:		171266363

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE POOLED TRUST INC
		DATE OF NAME CHANGE:	19920717

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VOYAGEUR MUTUAL FUNDS III
		CENTRAL INDEX KEY:			0000763749
		IRS NUMBER:				411777915
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04547
		FILM NUMBER:		171266357

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR MUTUAL FUNDS III /MN/
		DATE OF NAME CHANGE:	20020625

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR MUTUAL FUNDS III INC /MN/
		DATE OF NAME CHANGE:	19940318

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR GROWTH STOCK FUND INC
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE GROUP EQUITY FUNDS II
		CENTRAL INDEX KEY:			0000027574
		IRS NUMBER:				232448660
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-00750
		FILM NUMBER:		171266380

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP EQUITY FUNDS II INC
		DATE OF NAME CHANGE:	19970730

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP DECATUR FUND INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DECATUR FUND INC
		DATE OF NAME CHANGE:	19880808

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE GROUP EQUITY FUNDS V
		CENTRAL INDEX KEY:			0000809821
		IRS NUMBER:				232450217
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04997
		FILM NUMBER:		171266378

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP EQUITY FUNDS V INC
		DATE OF NAME CHANGE:	19970128

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP VALUE FUND INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP INSIGHT FUND INC
		DATE OF NAME CHANGE:	19870621

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE GROUP GLOBAL & INTERNATIONAL FUNDS
		CENTRAL INDEX KEY:			0000875610
		IRS NUMBER:				232651520
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06324
		FILM NUMBER:		171266376

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP GLOBAL & INTERNATIONAL FUNDS INC
		DATE OF NAME CHANGE:	19920717

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE INVESTMENTS GLOBAL DIVIDEND & INCOME FUND, INC
		CENTRAL INDEX KEY:			0000916713
		IRS NUMBER:				232753201
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-08246
		FILM NUMBER:		171266366

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE INVESTMENTS GLOBAL DIVIDEND & INCOME FUND INC
		DATE OF NAME CHANGE:	20020327

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP GLOBAL DIVIDEND & INCOME FUND INC
		DATE OF NAME CHANGE:	19931229

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Delaware Enhanced Global Dividend & Income Fund
		CENTRAL INDEX KEY:			0001396167
		IRS NUMBER:				260161937
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-22050
		FILM NUMBER:		171266383

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Delaware Investments Enhanced Global Dividend & Income Fund
		DATE OF NAME CHANGE:	20070411

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE INVESTMENTS DIVIDEND & INCOME FUND, INC
		CENTRAL INDEX KEY:			0000896923
		IRS NUMBER:				232713064
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07460
		FILM NUMBER:		171266367

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE INVESTMENTS DIVIDEND & INCOME FUND INC
		DATE OF NAME CHANGE:	20020319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP DIVIDEND & INCOME FUND INC
		DATE OF NAME CHANGE:	19930714

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE GROUP LIMITED-TERM GOVERNMENT FUNDS
		CENTRAL INDEX KEY:			0000357059
		IRS NUMBER:				232448704
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-03363
		FILM NUMBER:		171266373

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP LIMITED TERM GOVERNMENT FUNDS
		DATE OF NAME CHANGE:	19991223

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP LIMITED TERM GOVERNMENT FUNDS INC
		DATE OF NAME CHANGE:	19950828

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP TREASURY RESERVES INC
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELAWARE VIP TRUST
		CENTRAL INDEX KEY:			0000814230
		IRS NUMBER:				232470518
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05162
		FILM NUMBER:		171266362

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		ONE COMMERCE SQUARE
		STREET 2:		2005 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP PREMIUM FUND
		DATE OF NAME CHANGE:	20000428

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE PREMIUM FUND
		DATE OF NAME CHANGE:	20000224

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE GROUP PREMIUM FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>40-17G
<SEQUENCE>1
<FILENAME>delawarefunds4017g12202017.htm
<TEXT>
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<head>
<title></title>
<!--Licensed to: Stradley
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">AGENDA</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">OCTOBER 27, 2017</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">RESOLUTIONS &#8211; FIDELITY BOND COVERAGE</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">($40 Million Joint Fidelity Bond)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">WHEREAS, </font>this Board of Trustees/Directors has considered the form of the joint insured broker's blanket bond for the Delaware Funds by Macquarie, and the amount of such joint insured broker's blanket bond, and has considered the value of the aggregate assets of the Funds to which any covered person may have access, the type and terms of the arrangements made for the custody and safekeeping of the assets of each of the Fund's Series, the nature of the securities in each Series' portfolios and the higher cost that would have to be paid to purchase a comparable single insured bond for each Fund; and</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">WHEREAS, </font>the Board, including all of the Trustees/Directors who were not then interested persons with respect to the Fund, has concluded that the Fund's participation in the proposed joint insured broker's blanket bond is in the best interest of the Fund.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">NOW, THEREFORE, IT IS RESOLVED,</font> that the officers of the Fund are authorized and directed to cause each of its Series to participate in the joint insured broker's blanket bonds in the aggregate amount of $40,000,000, which also covers the other Delaware Funds by Macquarie, and that the Fund shall pay its share of the premium determined in accordance with the allocation methodology discussed with the Trustees/Directors; and it is further</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">RESOLVED,</font> that the officers of the Fund are hereby authorized and directed to execute an agreement under Section 17(g) of the 1940 Act with the other insureds listed on the broker's blanket bond (the "Agreement"), whereby the Fund will bear its proportionate share of the premium and coverage of the bond, and the share of the premium and coverage of the other Funds shall, if appropriate, be proportionately adjusted; and it is further</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">RESOLVED,</font> that the Secretary of the Fund is hereby authorized and directed to file with the Securities and Exchange Commission ("SEC") a copy of the bond and a copy of the resolutions approving the amount, type, form and coverage of the bond and the portion of the premium to be paid by each of the Fund's Series, a statement showing the amount of the single insured bond which the Fund would have provided and maintained had it not been named as an insured under the broker's blanket bond described herein, a statement of the period for which premiums have been paid and a copy of the Agreement, all pursuant to Section 17(g) of the 1940 Act, and that the Secretary of the Fund or his appropriate</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 36pt">designee be designated as the officer directed to make all necessary filings; and it is further</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">RESOLVED,</font> that this Board, including those Trustees/Directors who do not have control over or access to any of the portfolio securities, funds or other assets of the Fund's Series, hereby conclude that the amount, scope and coverage of the fidelity bond of the Fund are adequate; and it is further</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">RESOLVED,</font> that this Board, taking all relevant factors into consideration, hereby determines that it is in the best interest of the Fund and the Fund's shareholders for the Fund and each Series to participate in the joint insured broker's blanket bond described at this meeting, and that the proposed premium allocation to the Fund and to each Series is fair and reasonable to the Fund and each Series based upon a consideration of the relative higher premium that would have been paid if comparable insurance coverage were purchased separately by the insured parties.</div>

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<td style="WIDTH: 69%"></td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">MARSH USA, INC</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ATTN:</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">Chris Cancro</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">1166 AVE OF AMERICAS 37F</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">NEW YORK, NY 10036</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="3">&#160;</td>
</tr>

<tr>
<td colspan="3">&#160;</td>
</tr>

<tr>
<td colspan="3">&#160;</td>
</tr>

<tr>
<td colspan="3">&#160;</td>
</tr>

<tr valign="bottom">
<td colspan="2" align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">INSURED:</i></b></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: 'Times New Roman', Arial, Helvetica, sans-serif" align="left">MACQUARIE MANAGEMENT HOLDING COMPANY</td>
</tr>

<tr valign="bottom">
<td colspan="2" align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">PRODUCT:</i></b></td>
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">DFIBond</i></b></td>
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<tr valign="bottom">
<td colspan="2" align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">POLICY NO:</i></b></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: 'Times New Roman', Arial, Helvetica, sans-serif" align="left">81951478</td>
</tr>

<tr valign="bottom">
<td colspan="2" align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">TRANSACTION:</i></b></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: 'Times New Roman', Arial, Helvetica, sans-serif" align="left">RENL</td>
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<td style="WIDTH: 8%"></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="TEXT-INDENT: 14.396pt" colspan="6" align="left"></td>
<td colspan="3" align="left"></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td colspan="4" align="right"><strong style="FONT-FAMILY: Arial">Chubb Group of Insurance Companies</strong></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><strong style="FONT-FAMILY: Arial">DECLARATIONS</strong></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td colspan="4" align="right"><font face="Arial,Arial,Helvetica,sans-serif">202</font><font face="Arial,Arial,Helvetica,sans-serif">B Hall&#8217;s Mill Road</font></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><b style="FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">FINANCIAL INSTITUTION INVESTMENT</b></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="right">Whitehouse Station, NJ 08889</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><b style="FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">COMPANY ASSET PROTECTION BOND</b></td>
</tr>

<tr>
<td colspan="10">&#160;</td>
</tr>

<tr valign="bottom">
<td colspan="5" align="left"><font face="Arial,Arial,Helvetica,sans-serif">NAME OF ASSURED (including its </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Subsidiaries</b><font face="Arial,Arial,Helvetica,sans-serif">):</font></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Bond Number:</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 1.439pt" colspan="2" align="left">81951478</td>
</tr>

<tr>
<td colspan="10">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="6" align="left">MACQUARIE MANAGEMENT HOLDING COMPANY</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="10">&#160;</td>
</tr>

<tr>
<td colspan="10">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">2005 MARKET STREET</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">FEDERAL INSURANCE COMPANY</b></td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">PHILADELPHIA, PA 19103</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">Incorporated under the laws of Indiana</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">a stock insurance company herein called the COMPANY</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">Capital Center, 251 North Illinois, Suite 1100</td>
</tr>

<tr valign="bottom">
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid" colspan="3" align="left">Indianapolis, IN 46204-1927</td>
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<tr>
<td colspan="10">&#160;</td>
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<td align="left">
<div style="TEXT-ALIGN: left; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, 'sans-serif'; FONT-WEIGHT: bold; TEXT-ALIGN: left; PADDING-LEFT: 0%; PADDING-RIGHT: 0%">ITEM 1.</div>
</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">BOND PERIOD:&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 3.6pt" colspan="3" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td rowspan="2" align="left"></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left"></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right"></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 3.6pt" colspan="3" align="left"></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td colspan="2" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">from&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">12:01 a.m. on</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 3.6pt" colspan="3" align="left">October 31, 2017</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">to</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">12:01 a.m. on</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 3.6pt" colspan="3" align="left">October 31, 2018</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="10">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">ITEM 2.</b></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="6" align="left">LIMITS OF LIABILITY--DEDUCTIBLE AMOUNTS:</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="10">&#160;</td>
</tr>

<tr style="HEIGHT: 19px" valign="bottom">
<td align="left">&#160;</td>
<td colspan="9" align="left"><font face="Arial,Arial,Helvetica,sans-serif">If &#8220;Not Covered&#8221; is </font><font face="Arial,Arial,Helvetica,sans-serif">inserted below opposite any specified INSURING CLAUSE, such INSURING CLAUSE and</font></td>
</tr>

<tr style="HEIGHT: 23px" valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="9" align="left">any other reference shall be deemed to be deleted. </td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, 'sans-serif'" colspan="7" align="left"><strong>There shall be no deductible applicable to any loss </strong><strong>under INSURING CLAUSE 1. sustained by any Investment Company.</strong></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="10">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">SINGLE LOSS</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">DEDUCTIBLE</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-INDENT: 5.4pt" colspan="3" align="left">INSURING CLAUSE</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid" colspan="3" align="left">LIMIT OF LIABILITY</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid" colspan="2" align="left">AMOUNT</td>
</tr>

<tr>
<td colspan="10">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Employee</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">40,000,000</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">0</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">On Premises</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">40,000,000</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">50,000</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">3</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">In Transit</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">40,000,000</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">50,000</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">4</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Forgery or Alteration</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">40,000,000</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">50,000</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">5</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Extended Forgery</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">40,000,000</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">50,000</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">6</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Counterfeit Money</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">40,000,000</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">50,000</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">7</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Threats to Person</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">40,000,000</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">50,000</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">8</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Computer System</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">40,000,000</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">50,000</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">9</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Voice Initiated Funds Transfer</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Instruction</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">40,000,000</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">50,000</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">10</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Uncollectible Items of Deposit</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">50,000</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">10,000</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">11</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Audit Expense</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">100,000</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">0</td>
</tr>

<tr>
<td colspan="10">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">ITEM 3.</b></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="9" align="left">THE LIABILITY OF THE COMPANY IS ALSO SUBJECT TO THE TERMS OF THE FOLLOWING</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="7" align="left">ENDORSEMENTS EXECUTED SIMULTANEOUSLY HEREWITH:</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">1 - 17</td>
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<td colspan="10" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">IN WITNESS WHEREOF, THE COMPANY </b><font face="Arial,Arial,Helvetica,sans-serif">has caused this Bond to be signed by its authorized officers, but it shall not be valid unless also signed by an authorized representative of the Company.</font></td>
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<img src="image00001.jpg">

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<div>ICAP Bond (5-98) - Federal</div>
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 1 of 1</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="6">The COMPANY, in consideration of payment of the required premium, and in reliance</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="6">on the APPLICATION and all other statements made and information furnished to the</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="6">COMPANY by the ASSURED, and subject to the DECLARATIONS made a part of this</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="6">Bond and to all other terms and conditions of this Bond, agrees to pay the ASSURED</td>
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<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: left">for:</td>
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<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
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<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Insuring Clauses</i></b></td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Employee</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td colspan="4" align="left"><font face="Arial,Arial,Helvetica,sans-serif">Loss resulting directly from </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Larceny </b><font face="Arial,Arial,Helvetica,sans-serif">or </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Embezzlement </b><font face="Arial,Arial,Helvetica,sans-serif">committed by any</font></td>
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<td style="BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: #000000 1px solid" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1px solid" colspan="4" align="left"><strong style="FONT-FAMILY: Arial">Employee</strong><font style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif">, alone or in collusion with others.</font></td>
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 &#160;&#160;</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">On Premises</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td colspan="4" align="left"><font face="Arial,Arial,Helvetica,sans-serif">Loss of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">resulting directly from robbery, burglary, false pretenses,</font></td>
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<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">common law or statutory larceny, misplacement, mysterious unexplainable</td>
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<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">disappearance, damage, destruction or removal, from the possession, custody or</td>
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<td style="BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1px solid" colspan="4" align="left"><font face="Arial,Arial,Helvetica,sans-serif">control of the ASSURED, while such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">is lodged or deposited at premises located anywhere.</font></td>
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<td style="BORDER-BOTTOM-COLOR: " align="left">&#160;</td>
<td style="BORDER-BOTTOM-COLOR: " align="left">&#160;</td>
<td style="BORDER-BOTTOM-COLOR: " align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM-COLOR: " colspan="4" align="left"></td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">In Transit</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">3</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td colspan="4" align="left"><font face="Arial,Arial,Helvetica,sans-serif">Loss of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">resulting directly from common law or statutory larceny,</font></td>
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<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">misplacement, mysterious unexplainable disappearance, damage or destruction,</td>
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<td colspan="4" align="left"><font face="Arial,Arial,Helvetica,sans-serif">while the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">is in transit anywhere:</font></td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">in an armored motor vehicle, including loading and unloading thereof,</td>
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<td colspan="7">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">in the custody of a natural person acting as a messenger of the ASSURED,</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">or</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">c.</td>
<td style="TEXT-ALIGN: left" colspan="3"><font face="Arial,Arial,Helvetica,sans-serif">in the custody of a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Transportation Company </b><font face="Arial,Arial,Helvetica,sans-serif">and being transported in a</font></td>
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<td style="TEXT-ALIGN: left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">conveyance other than an armored motor vehicle provided, however, that</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><font face="Arial,Arial,Helvetica,sans-serif">covered </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">transported in such manner is limited to the following:</font></td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">written records,</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">securities issued in registered form, which are not endorsed or are</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">restrictively endorsed, or</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(3</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">negotiable instruments not payable to bearer, which are not endorsed</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">or are restrictively endorsed.</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">Coverage under this INSURING CLAUSE begins immediately on the receipt of</td>
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<td colspan="4" align="left"><font face="Arial,Arial,Helvetica,sans-serif">such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">by the natural person or </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Transportation Company </b><font face="Arial,Arial,Helvetica,sans-serif">and ends</font></td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">immediately on delivery to the premises of the addressee or to any representative</td>
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<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">of the addressee located anywhere.</td>
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Helvetica, 'sans-serif'; WIDTH: 55%">ICAP Bond (5-98)</td>
<td style="WIDTH: 44%">&#160;</td>
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 1 of 19</td>
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<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Insuring Clauses</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">(continued)</i></td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Forgery Or Alteration</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">4</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">Loss resulting directly from:</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">&#160;</td>
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<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Forgery </b><font face="Arial,Arial,Helvetica,sans-serif">on, or fraudulent material alteration of, any bills of exchange,</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">checks, drafts, acceptances, certificates of deposits, promissory notes, due</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">bills, money orders, orders upon public treasuries, letters of credit, other</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">written promises, orders or directions to pay sums certain in money, or</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">receipts for the withdrawal of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property</b><font face="Arial,Arial,Helvetica,sans-serif">, or</font></td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">transferring, paying or delivering any funds or other </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property</b><font face="Arial,Arial,Helvetica,sans-serif">, or establishing</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">any credit or giving any value in reliance on any written instructions, advices</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">or applications directed to the ASSURED authorizing or acknowledging the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">transfer, payment, delivery or receipt of funds or other </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property</b><font face="Arial,Arial,Helvetica,sans-serif">, which</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">instructions, advices or applications fraudulently purport to bear the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">handwritten signature of any customer of the ASSURED, or shareholder or</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">subscriber to shares of an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Company</b><font face="Arial,Arial,Helvetica,sans-serif">, or of any financial</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">institution or </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">but which instructions, advices or applications either</font></td>
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<tr style="HEIGHT: 18px" valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">bear a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Forgery </b><font face="Arial,Arial,Helvetica,sans-serif">or have been fraudulently materially altered without the</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">knowledge and consent of such customer, shareholder, subscriber, financial</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">institution or </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee</b><font face="Arial,Arial,Helvetica,sans-serif">;</font></td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">excluding, however, under this INSURING CLAUSE any loss covered under</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">INSURING CLAUSE 5. of this Bond, whether or not coverage for INSURING</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">CLAUSE 5. is provided for in the DECLARATIONS of this Bond.</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">For the purpose of this INSURING CLAUSE, a mechanically reproduced facsimile</td>
</tr>

<tr valign="bottom">
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid" colspan="3" align="left">signature is treated the same as a handwritten signature.</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Extended Forgery</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">5</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">Loss resulting directly from the ASSURED having, in good faith, and in the</td>
</tr>

<tr style="HEIGHT: 13px" valign="bottom">
<td align="left">&#160;&#160;</td>
<td align="left">&#160;&#160;</td>
<td align="left">&#160;&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">ordinary course of business, for its own account or the account of others in any capacity:&#160;</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">acquired, accepted or received, sold or delivered, or given value, extended</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">credit or assumed liability, in reliance on any original </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Securities,</b></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">documents or other written instruments </b><font face="Arial,Arial,Helvetica,sans-serif">which prove to:</font></td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">(1)</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">bear a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Forgery </b><font face="Arial,Arial,Helvetica,sans-serif">or a fraudulently material alteration,</font></td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr style="HEIGHT: 17px" valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">(2)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">have been lost or stolen, or</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">(3)</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">be </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Counterfeit</b><font face="Arial,Arial,Helvetica,sans-serif">, or</font></td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">guaranteed in writing or witnessed any signatures on any transfer,</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">assignment, bill of sale, power of attorney, guarantee, endorsement or other</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">obligation upon or in connection with any </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Securities, documents or other</b></td>
</tr>

<tr style="HEIGHT: 23px" valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">written instruments</b><font face="Arial,Arial,Helvetica,sans-serif">.</font></td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">Actual physical possession, and continued actual physical possession if taken as</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><font face="Arial,Arial,Helvetica,sans-serif">collateral, of such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Securities, documents or other written instruments </b><font face="Arial,Arial,Helvetica,sans-serif">by an</font></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee, Custodian</b><font face="Arial,Arial,Helvetica,sans-serif">, or a Federal or State chartered deposit institution of the</font></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">ASSURED is a condition precedent to the ASSURED having relied on such items.</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">Release or return of such collateral is an acknowledgment by the ASSURED that it</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">no longer relies on such collateral.</td>
</tr>
</table>
</div>

<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="ze29727ba8e97471a993af9da9e1132f5" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond (5-98)</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 2 of 19</td>
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<tr valign="bottom">
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Insuring Clauses</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Extended Forgery</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">For the purpose of this INSURING CLAUSE, a mechanically reproduced facsimile</td>
</tr>

<tr valign="bottom">
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">(continued)</i></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid" colspan="4" align="left">signature is treated the same as a handwritten signature.</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Counterfeit Money</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">6</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">Loss resulting directly from the receipt by the ASSURED in good faith of any</td>
</tr>

<tr valign="bottom">
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" colspan="4" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Counterfeit </b><font face="Arial,Arial,Helvetica,sans-serif">money.</font></td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Threats To Person</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">7</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td colspan="4" align="left"><font face="Arial,Arial,Helvetica,sans-serif">Loss resulting directly from surrender of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">away from an office of the</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">ASSURED as a result of a threat communicated to the ASSURED to do bodily</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="4" align="left"><font face="Arial,Arial,Helvetica,sans-serif">harm to an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">as defined in SECTION 1.e. (1), (2) and (5), a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Relative </b><font face="Arial,Arial,Helvetica,sans-serif">or</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="4" align="left"><font face="Arial,Arial,Helvetica,sans-serif">invitee of such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee</b><font face="Arial,Arial,Helvetica,sans-serif">, or a resident of the household of such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee</b><font face="Arial,Arial,Helvetica,sans-serif">, who</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">is, or allegedly is, being held captive provided, however, that prior to the surrender</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="4" align="left"><font face="Arial,Arial,Helvetica,sans-serif">of such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property</b><font face="Arial,Arial,Helvetica,sans-serif">:</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="4" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="TEXT-ALIGN: left" colspan="3"><font face="Arial,Arial,Helvetica,sans-serif">the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">who receives the threat has made a reasonable effort to</font></td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">notify an officer of the ASSURED who is not involved in such threat, and</td>
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<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">the ASSURED has made a reasonable effort to notify the Federal Bureau of</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">Investigation and local law enforcement authorities concerning such threat.</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="4" align="left"><font face="Arial,Arial,Helvetica,sans-serif">It is agreed that for purposes of this INSURING CLAUSE, any </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">of the</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">ASSURED, as set forth in the preceding paragraph, shall be deemed to be an</td>
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<tr style="HEIGHT: 0px" valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">ASSURED hereunder, but only with respect to the surrender of money, securities</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="4" align="left"><font face="Arial,Arial,Helvetica,sans-serif">and other tangible personal property in which such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">has a legal or</font></td>
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<tr valign="bottom">
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid" colspan="4" align="left">equitable interest.</td>
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<tr>
<td colspan="7">&#160;</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Computer System</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">8</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">Loss resulting directly from fraudulent:</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">entries of data into, or</td>
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<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">changes of data elements or programs within,</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">a <b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Computer System</b><font style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif">, provided the fraudulent entry or change causes:</font></td>
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<tr valign="bottom">
<td colspan="7" align="left">&#160;&#160;&#160;&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">funds or other property to be transferred, paid or delivered,</td>
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<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">an account of the ASSURED or of its customer to be added, deleted,</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">debited or credited, or&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="7" align="center">&#160;</td>
</tr>

<tr style="HEIGHT: 13px" valign="bottom">
<td align="left">&#160;&#160;</td>
<td align="left">&#160;&#160;</td>
<td align="left">&#160;&#160;</td>
<td align="left">&#160;&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(3</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">an unauthorized account or a fictitious account to be debited or credited.</td>
</tr>
</table>
</div>

<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="zca47b2319cc9468ca41469e5c85701aa" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond (5-98)</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 3 of 19</td>
</tr>
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<table id="ze861f975a382451dbeabe53e92152e05" cellspacing="0" border="0">
<tr valign="bottom">
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Insuring Clauses</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">(continued)</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Voice Initiated Funds</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">9</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">Loss resulting directly from </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Voice Initiated Funds Transfer Instruction </b><font face="Arial,Arial,Helvetica,sans-serif">directed</font></td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Transfer Instruction</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">to the ASSURED authorizing the transfer of dividends or redemption proceeds of</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Company </b><font face="Arial,Arial,Helvetica,sans-serif">shares from a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Customer's </b><font face="Arial,Arial,Helvetica,sans-serif">account, provided such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Voice</b></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Initiated Funds Transfer Instruction </b><font face="Arial,Arial,Helvetica,sans-serif">was:</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">received at the ASSURED'S offices by those </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employees </b><font face="Arial,Arial,Helvetica,sans-serif">of the ASSURED</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;&#160;</td>
<td align="left">&#160;&#160;</td>
<td align="left">&#160;&#160;</td>
<td align="left">&#160;&#160;</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">specifically authorized to receive the </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, 'sans-serif'"><strong>Voice Initiated Funds Transfer </strong><strong>Instruction</strong>,</font></td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">made by a person purporting to be a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Customer</b><font face="Arial,Arial,Helvetica,sans-serif">, and</font></td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">c.</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">made by said person for the purpose of causing the ASSURED or </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Customer</b></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">to sustain a loss or making an improper personal financial gain for such</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">person or any other person.</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">In order for coverage to apply under this INSURING CLAUSE, all </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Voice Initiated</b></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Funds Transfer Instructions </b><font face="Arial,Arial,Helvetica,sans-serif">must be received and processed in accordance with</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">the Designated Procedures outlined in the APPLICATION furnished to the</td>
</tr>

<tr valign="bottom">
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid" colspan="2" align="left">COMPANY.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Uncollectible Items of</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">10</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Loss resulting directly from the ASSURED having credited an account of a</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Deposit</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">customer, shareholder or subscriber on the faith of any </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Items of Deposit </b><font face="Arial,Arial,Helvetica,sans-serif">which</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">prove to be uncollectible, provided that the crediting of such account causes:</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">redemptions or withdrawals to be permitted,</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">shares to be issued, or</td>
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<tr>
<td colspan="5">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">c.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">dividends to be paid, from an account of an <b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Company</b><font style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif">.</font></td>
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<tr valign="bottom">
<td colspan="5" align="center">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">In order for coverage to apply under this INSURING CLAUSE, the ASSURED</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">must hold </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Items of Deposit </b><font face="Arial,Arial,Helvetica,sans-serif">for the minimum number of days stated in the</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">APPLICATION before permitting any redemptions or withdrawals, issuing any</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">shares or paying any dividends with respect to such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Items of Deposit</b><font face="Arial,Arial,Helvetica,sans-serif">.</font></td>
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<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Items of Deposit </b><font face="Arial,Arial,Helvetica,sans-serif">shall not be deemed uncollectible until the ASSURED'S</font></td>
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<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid" colspan="2" align="left">standard collection procedures have failed.</td>
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<tr>
<td colspan="5">&#160;</td>
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<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Audit Expense</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">11</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Expense incurred by the ASSURED for that part of the cost of audits or</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">examinations required by any governmental regulatory authority or self-regulatory</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">organization to be conducted by such authority, organization or their appointee by</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;&#160;</td>
<td align="left">&#160;&#160;</td>
<td align="left">&#160;&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">reason of the discovery of loss sustained by the ASSURED and covered by this Bond.</td>
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<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="z709a0eaead824e90a51fb108acffc73b" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond (5-98)</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 4 of 19</td>
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<table id="z8f9776a0b6454df8b8a004df9fe05bd6" cellspacing="0" border="0">
<tr valign="bottom">
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">General Agreements</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Additional Companies</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">A.</td>
<td style="TEXT-ALIGN: left" colspan="3"><font face="Arial,Arial,Helvetica,sans-serif">If more than one corporation, or </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Company</b><font face="Arial,Arial,Helvetica,sans-serif">, or any combination of</font></td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Included As Assured</i></td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">them is included as the ASSURED herein:</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">The total liability of the COMPANY under this Bond for loss or losses</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">sustained by any one or more or all of them shall not exceed the limit for</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">which the COMPANY would be liable under this Bond if all such loss were</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">sustained by any one of them.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Only the first named ASSURED shall be deemed to be the sole agent of the</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">others for all purposes under this Bond, including but not limited to the giving</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">or receiving of any notice or proof required to be given and for the purpose of</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">effecting or accepting any amendments to or termination of this Bond. The</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">COMPANY shall furnish each </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Company </b><font face="Arial,Arial,Helvetica,sans-serif">with a copy of the</font></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Bond and with any amendment thereto, together with a copy of each formal</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">filing of claim by any other named ASSURED and notification of the terms of</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">the settlement of each such claim prior to the execution of such settlement.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(3</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">The COMPANY shall not be responsible for the proper application of any</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">payment made hereunder to the first named ASSURED.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(4</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Knowledge possessed or discovery made by any partner, director, trustee,</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">officer or supervisory employee of any ASSURED shall constitute knowledge</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">or discovery by all the ASSUREDS for the purposes of this Bond.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(5</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">If the first named ASSURED ceases for any reason to be covered under this</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Bond, then the ASSURED next named on the APPLICATION shall thereafter</td>
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<tr valign="bottom">
<td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left">be considered as the first named ASSURED for the purposes of this Bond.</td>
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<tr>
<td colspan="5">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Representation Made By</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">B.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">The ASSURED represents that all information it has furnished in the</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Assured</i></td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">APPLICATION for this Bond or otherwise is complete, true and correct. Such</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">APPLICATION and other information constitute part of this Bond.</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left" colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">The ASSURED must promptly notify the COMPANY of any change in any fact or</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">circumstance which materially affects the risk assumed by the COMPANY under</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">this Bond.</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left" colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">Any intentional misrepresentation, omission, concealment or incorrect statement of</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">a material fact, in the APPLICATION or otherwise, shall be grounds for recision of</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">this Bond.</td>
</tr>
</table>
</div>

<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="z5d323f844a964e8e8e21e942800c081b" cellspacing="0" border="0">
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond (5-98)</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 5 of 19</td>
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<td colspan="5" align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">General Agreements</i></b>&#160;&#160;&#160;&#160;</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">(continued)</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Additional Offices Or</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">C.</td>
<td style="TEXT-ALIGN: left" colspan="3"><font face="Arial,Arial,Helvetica,sans-serif">If the ASSURED, other than an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Company</b><font face="Arial,Arial,Helvetica,sans-serif">, while this Bond is in force,</font></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Employees - Consolidation,</i></td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">merges or consolidates with, or purchases or acquires assets or liabilities of</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Merger Or Purchase Or</i></td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">another institution, the ASSURED shall not have the coverage afforded under this</td>
</tr>

<tr style="HEIGHT: 20px" valign="bottom">
<td style="TEXT-ALIGN: left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Acquisition Of Assets Or</i></td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">Bond for loss which has:</td>
</tr>

<tr style="HEIGHT: 20px" valign="bottom">
<td style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><em style="FONT-FAMILY: Arial">Liabilities - </em></td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 11pt; FONT-FAMILY: Arial, Helvetica, 'sans-serif'" align="left"><em>Notice To</em></td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">occurred or will occur on premises, or</td>
</tr>

<tr style="HEIGHT: 20px" valign="bottom">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, 'sans-serif'; FONT-STYLE: normal" align="left"><em>Company</em></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr style="HEIGHT: 20px" valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">been caused or will be caused by an employee, or</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(3</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">arisen or will arise out of the assets or liabilities,</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">of such institution, unless the ASSURED:</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="right"></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">a.</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">gives the COMPANY written notice of the proposed consolidation, merger or</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">purchase or acquisition of assets or liabilities prior to the proposed effective</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">date of such action, and</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">&#160;</td>
</tr>

<tr style="HEIGHT: 12px" valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">b.</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">obtains the written consent of the COMPANY to extend some or all of the</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">coverage provided by this Bond to such additional exposure, and</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="right">c.</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: left">on obtaining such consent, pays to the COMPANY an additional premium.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Change Of Control -</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">D.</td>
<td style="TEXT-ALIGN: left" colspan="3"><font face="Arial,Arial,Helvetica,sans-serif">When the ASSURED learns of a change in control (other than in an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment</b></td>
</tr>

<tr style="HEIGHT: 19px" valign="bottom">
<td style="TEXT-ALIGN: left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Notice To Company</i></td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company</b><font face="Arial,Arial,Helvetica,sans-serif">), as set forth in Section 2(a) (9) of the Investment Company Act of</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">1940,&#160;the ASSURED shall within sixty (60) days give written notice to the</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">COMPANY setting forth:</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">the names of the transferors and transferees (or the names of the beneficial</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">owners if the voting securities are registered in another name),</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">the total number of voting securities owned by the transferors and the</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">transferees (or the beneficial owners), both immediately before and after the</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">transfer, and</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(3</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">the total number of outstanding voting securities.</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Failure to give the required notice shall result in termination of coverage for any</td>
</tr>

<tr style="HEIGHT: 15px" valign="bottom">
<td style="BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: #000000 1px solid" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left">loss involving a transferee, to be effective on the date of such change in control.</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;&#160;</td>
<td style="TEXT-ALIGN: left">&#160;&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3"></td>
</tr>

<tr>
<td colspan="5">&#160;&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Court Costs And</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">E.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">The COMPANY will indemnify the ASSURED for court costs and reasonable</td>
</tr>

<tr style="HEIGHT: 19px" valign="bottom">
<td style="TEXT-ALIGN: left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Attorneys&#8217; </i></td>
<td style="TEXT-ALIGN: left"></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">attorneys' fees incurred and paid by the ASSURED in defense, whether or not</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left"><em style="FONT-FAMILY: Arial">Fees</em></td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">successful, whether or not fully litigated on the merits and whether or not settled,</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">of any claim, suit or legal proceeding with respect to which the ASSURED would</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">be entitled to recovery under this Bond. However, with respect to INSURING</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">CLAUSE 1., this Section shall only apply in the event that:</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td align="left"><font face="Arial,Arial,Helvetica,sans-serif">an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">admits to being guilty of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Larceny or Embezzlement</b><font face="Arial,Arial,Helvetica,sans-serif">,</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">is adjudicated to be guilty of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Larceny or Embezzlement</b><font face="Arial,Arial,Helvetica,sans-serif">, or</font></td>
</tr>
</table>
</div>

<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="z8ef009cf404544c5afd4a5440022e680" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond (5-98)</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 6 of 19</td>
</tr>
</table>
</div>
</div>

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<div style="TEXT-ALIGN: left">
<table id="za2672c4b6fda4ca385a2065b095b1bdd" cellspacing="0" border="0">
<tr valign="bottom">
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">General Agreements</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Court Costs And</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">(3)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">in the absence of 1 or 2 above, an arbitration panel agrees, after a review of</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Attorneys&#8217; Fees</i></td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">an agreed statement of facts between the COMPANY and the ASSURED,</td>
</tr>

<tr style="HEIGHT: 19px" valign="bottom">
<td style="TEXT-ALIGN: left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">(continued)</i></td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">that an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">would be found guilty of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Larceny or Embezzlement </b><font face="Arial,Arial,Helvetica,sans-serif">if</font></td>
</tr>

<tr style="HEIGHT: 19px" valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left"><font face="Arial">such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif">were prosecuted.</font></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left" colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">The ASSURED shall promptly give notice to the COMPANY of any such suit or</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">legal proceeding and at the request of the COMPANY shall furnish copies of all</td>
</tr>

<tr style="HEIGHT: 11px" valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">pleadings and pertinent papers to the COMPANY. The COMPANY may, at its</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">sole option, elect to conduct the defense of all or part of such legal proceeding.</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">The defense by the COMPANY shall be in the name of the ASSURED through</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">attorneys selected by the COMPANY. The ASSURED shall provide all reasonable</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">information and assistance as required by the COMPANY for such defense.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">If the COMPANY declines to defend the ASSURED, no settlement without the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">prior written consent of the COMPANY nor judgment against the ASSURED shall</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">determine the existence, extent or amount of coverage under this Bond.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">If the amount demanded in any such suit or legal proceeding is within the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">DEDUCTIBLE AMOUNT, if any, the COMPANY shall have no liability for court</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">costs and attorney's fees incurred in defending all or part of such suit or legal</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">proceeding.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">If the amount demanded in any such suit or legal proceeding is in excess of the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">LIMIT OF LIABILITY stated in ITEM 2. of the DECLARATIONS for the applicable</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">INSURING CLAUSE, the COMPANY'S liability for court costs and attorney's fees</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">incurred in defending all or part of such suit or legal proceedings is limited to the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">proportion of such court costs and attorney's fees incurred that the LIMIT OF</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">LIABILITY stated in ITEM 2. of the DECLARATIONS for the applicable INSURING</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">CLAUSE bears to the total of the amount demanded in such suit or legal</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">proceeding.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">If the amount demanded is any such suit or legal proceeding is in excess of the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">DEDUCTIBLE AMOUNT, if any, but within the LIMIT OF LIABILITY stated in ITEM</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">2.&#160;of the DECLARATIONS for the applicable INSURING CLAUSE, the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">COMPANY'S liability for court costs and attorney's fees incurred in defending all or</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">part of such suit or legal proceedings shall be limited to the proportion of such</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">court costs or attorney's fees that the amount demanded that would be payable</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">under this Bond after application of the DEDUCTIBLE AMOUNT, bears to the total</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">amount demanded.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">Amounts paid by the COMPANY for court costs and attorneys' fees shall be in</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">addition to the LIMIT OF LIABILITY stated in ITEM 2. of the DECLARATIONS.</td>
</tr>
</table>
</div>

<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="zcea597a7c83b48198c95484f3b44f331" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond (5-98)</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 7 of 19</td>
</tr>
</table>
</div>

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<div style="TEXT-ALIGN: left">
<table id="z12d3064781c64f52840ff5920fc949f4" cellspacing="0" border="0">
<tr valign="bottom">
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Conditions and</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Limitations</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Definitions</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">As used in this Bond:</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td colspan="3" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Computer System </b><font face="Arial,Arial,Helvetica,sans-serif">means a computer and all input, output, processing,</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">storage, off-line media libraries, and communication facilities which are</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">connected to the computer and which are under the control and supervision</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">of the operating system(s) or application(s) software used by the ASSURED.</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td colspan="3" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Counterfeit </b><font face="Arial,Arial,Helvetica,sans-serif">means an imitation of an actual valid original which is intended</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">to deceive and be taken as the original.</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">c.</td>
<td colspan="3" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Custodian </b><font face="Arial,Arial,Helvetica,sans-serif">means the institution designated by an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Company </b><font face="Arial,Arial,Helvetica,sans-serif">to</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">maintain possession and control of its assets.</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">d.</td>
<td colspan="3" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Customer </b><font face="Arial,Arial,Helvetica,sans-serif">means an individual, corporate, partnership, trust customer,</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">shareholder or subscriber of an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Company </b><font face="Arial,Arial,Helvetica,sans-serif">which has a written</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">agreement with the ASSURED for </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Voice Initiated Funds Transfer</b></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Instruction</b><font face="Arial,Arial,Helvetica,sans-serif">.</font></td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">e.</td>
<td colspan="3" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">means:</font></td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">an officer of the ASSURED,</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a natural person while in the regular service of the ASSURED at any of</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">the ASSURED'S premises and compensated directly by the ASSURED</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">through its payroll system and subject to the United States Internal</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Revenue Service Form W-2 or equivalent income reporting plans of</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">other countries, and whom the ASSURED has the right to control and</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">direct both as to the result to be accomplished and details and means</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">by which such result is accomplished in the performance of such</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">service,</td>
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<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(3</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a guest student pursuing studies or performing duties in any of the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ASSURED'S premises,</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="7" align="center">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(4</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">an attorney retained by the ASSURED and an employee of such</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">attorney while either is performing legal services for the ASSURED,</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(5</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a natural person provided by an employment contractor to perform</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">employee duties for the ASSURED under the ASSURED'S supervision</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">at any of the ASSURED'S premises,</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(6</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">an employee of an institution merged or consolidated with the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ASSURED prior to the effective date of this Bond,</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(7</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a director or trustee of the ASSURED, but only while performing acts</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">within the scope of the customary and usual duties of any officer or</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">other employee of the ASSURED or while acting as a member of any</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">committee duly elected or appointed to examine or audit or have</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left"><font face="Arial,Arial,Helvetica,sans-serif">custody of or access to </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">of the ASSURED, or</font></td>
</tr>
</table>
</div>

<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="z4faac94a27dc48d38ece1891201df632" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond (5-98)</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 8 of 19</td>
</tr>
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<tr valign="bottom">
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Conditions and</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Limitations</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Definitions</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(8</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">each natural person, partnership or corporation authorized by written</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">(continued)</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">agreement with the ASSURED to perform services as electronic data</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">processor of checks or other accounting records related to such checks but</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">only while such person, partnership or corporation is actually performing</td>
</tr>

<tr style="HEIGHT: 9px" valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">such services and not:</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">creating, preparing, modifying or maintaining the ASSURED'S</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">computer software or programs, or</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">acting as transfer agent or in any other agency capacity in issuing</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">checks, drafts or securities for the ASSURED,</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(9</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">any partner, officer or employee of an investment advisor, an underwriter</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">(distributor), a transfer agent or shareholder accounting recordkeeper, or an</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">administrator, for an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Company </b><font face="Arial,Arial,Helvetica,sans-serif">while performing acts coming</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">within the scope of the customary and usual duties of an officer or employee</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">of an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Company </b><font face="Arial,Arial,Helvetica,sans-serif">or acting as a member of any committee duly</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">elected or appointed to examine, audit or have custody of or access to</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, 'sans-serif'">of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">an Investment Company</b><font face="Arial,Arial,Helvetica,sans-serif">.</font></td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">The term </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">shall not include any partner, officer or employee of a</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">transfer agent, shareholder accounting recordkeeper or administrator:</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">which is not an "affiliated person" (as defined in Section 2(a) of the</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">Investment Company Act of 1940) of an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Company </b><font face="Arial,Arial,Helvetica,sans-serif">or of</font></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">the investment advisor or underwriter (distributor) of such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment</b></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company</b><font face="Arial,Arial,Helvetica,sans-serif">, or</font></td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">which is a "bank" (as defined in Section 2(a) of the Investment</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Company Act of 1940).</td>
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<tr style="HEIGHT: 17px" valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">This Bond does not afford coverage in favor of the employers of</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">persons as set forth in e. (4), (5) and (8) above, and upon payment to</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">the ASSURED by the COMPANY resulting directly from </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Larceny or</b></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Embezzlement </b><font face="Arial,Arial,Helvetica,sans-serif">committed by any of the partners, officers or</font></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">employees of such employers, whether acting alone or in collusion with</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">others, an assignment of such of the ASSURED'S rights and causes of</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">action as it may have against such employers by reason of such acts</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">so committed shall, to the extent of such payment, be given by the</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">ASSURED to the COMPANY, and the ASSURED shall execute all</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">papers necessary to secure to the COMPANY the rights provided for</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">herein.</td>
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<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Each employer of persons as set forth in e.(4), (5) and (8) above and the</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">partners, officers and other employees of such employers shall collectively</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">be deemed to be one person for all the purposes of this Bond; excepting,</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">however, the fifth paragraph of Section 13.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Independent contractors not specified in e.(4), (5) or (8) above,</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">intermediaries, agents, brokers or other representatives of the same general</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">character shall not be considered </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employees</b><font face="Arial,Arial,Helvetica,sans-serif">.</font></td>
</tr>
</table>
</div>

<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="z0e5c418c106841da9cbf50f527f1f39e" cellspacing="0" border="0">
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<td style="WIDTH: 55%"></td>
<td style="WIDTH: 44%"></td>
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<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond (5-98)</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 9 of 19</td>
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<tr valign="bottom">
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Conditions and</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Limitations</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="3">&#160;</td>
</tr>

<tr>
<td colspan="3">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Definitions</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">f.</td>
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Forgery </b><font face="Arial,Arial,Helvetica,sans-serif">means the signing of the name of another natural person with the</font></td>
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<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">(continued)</i></td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">intent to deceive but does not mean a signature which consists in whole or in</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">part of one's own name, with or without authority, in any capacity for any</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">purpose.</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">g.</td>
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Company </b><font face="Arial,Arial,Helvetica,sans-serif">means any investment company registered under the</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Investment Company Act of 1940 and listed under the NAME OF ASSURED</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">on the DECLARATIONS.</td>
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<tr>
<td colspan="3">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">h.</td>
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Items of Deposit </b><font face="Arial,Arial,Helvetica,sans-serif">means one or more checks or drafts drawn upon a</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">financial institution in the United States of America.</td>
</tr>

<tr>
<td colspan="3">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">i.</td>
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Larceny or Embezzlement </b><font face="Arial,Arial,Helvetica,sans-serif">means larceny or embezzlement as defined in</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Section 37 of the Investment Company Act of 1940.</td>
</tr>

<tr>
<td colspan="3">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">j.</td>
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">means money, revenue and other stamps; securities; including any</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">note, stock, treasury stock, bond, debenture, evidence of indebtedness,</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">certificate of deposit, certificate of interest or participation in any profit-</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">sharing agreement, collateral trust certificate, preorganization certificate or</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">subscription, transferable share, investment contract, voting trust certificate,</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">certificate of deposit for a security, fractional undivided interest in oil, gas, or</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">other mineral rights, any interest or instruments commonly known as a</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">security under the Investment Company Act of 1940, any other certificate of</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">interest or participation in, temporary or interim certificate for, receipt for,</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">guarantee of, or warrant or right to subscribe to or purchase any of the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">foregoing; bills of exchange; acceptances; checks; withdrawal orders; money</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">orders; travelers' letters of credit; bills of lading; abstracts of title; insurance</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">policies, deeds, mortgages on real estate and/or upon chattels and interests</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">therein; assignments of such policies, deeds or mortgages; other valuable</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">papers, including books of accounts and other records used by the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ASSURED in the conduct of its business (but excluding all electronic data</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">processing records); and, all other instruments similar to or in the nature of</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">the foregoing in which the ASSURED acquired an interest at the time of the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ASSURED'S consolidation or merger with, or purchase of the principal</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">assets of, a predecessor or which are held by the ASSURED for any</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">purpose or in any capacity and whether so held gratuitously or not and</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">whether or not the ASSURED is liable therefor.</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">k.</td>
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Relative </b><font face="Arial,Arial,Helvetica,sans-serif">means the spouse of an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">or partner of the ASSURED</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">and any unmarried child supported wholly by, or living in the home of, such</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">or partner and being related to them by blood, marriage or legal</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">guardianship.</td>
</tr>

<tr>
<td colspan="3">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">l.</td>
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Securities, documents or other written instruments </b><font face="Arial,Arial,Helvetica,sans-serif">means original</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">(including original counterparts) negotiable or non-negotiable instruments, or</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">assignments thereof, which in and of themselves represent an equitable</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">interest, ownership, or debt and which are in the ordinary course of business</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">transferable by delivery of such instruments with any necessary</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">endorsements or assignments.</td>
</tr>
</table>
</div>

<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond (5-98)</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 10 of 19</td>
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<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Conditions and</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Limitations</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Definitions</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">m.</td>
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Subsidiary </b><font face="Arial,Arial,Helvetica,sans-serif">means any organization that, at the inception date of this Bond,</font></td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">(continued)</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">is named in the APPLICATION or is created during the BOND PERIOD and</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">of which more than fifty percent (50%) of the outstanding securities or voting</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">rights representing the present right to vote for election of directors is owned</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">or controlled by the ASSURED either directly or through one or more of its</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">subsidiaries.</td>
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<td colspan="5">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">n.</td>
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Transportation Company </b><font face="Arial,Arial,Helvetica,sans-serif">means any organization which provides its own</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">or its leased vehicles for transportation or which provides freight forwarding</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">or air express services.</td>
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<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">o.</td>
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Voice Initiated Election </b><font face="Arial,Arial,Helvetica,sans-serif">means any election concerning dividend options</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left"><font face="Arial,Arial,Helvetica,sans-serif">available to </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Company </b><font face="Arial,Arial,Helvetica,sans-serif">shareholders or subscribers which is</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">requested by voice over the telephone.</td>
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<td colspan="5">&#160;</td>
</tr>

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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">p.</td>
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Voice Initiated Redemption </b><font face="Arial,Arial,Helvetica,sans-serif">means any redemption of shares issued by an</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Company </b><font face="Arial,Arial,Helvetica,sans-serif">which is requested by voice over the telephone.</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">q.</td>
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Voice Initiated Funds Transfer Instruction </b><font face="Arial,Arial,Helvetica,sans-serif">means any </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Voice Initiated</b></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Redemption </b><font face="Arial,Arial,Helvetica,sans-serif">or </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Voice Initiated Election</b><font face="Arial,Arial,Helvetica,sans-serif">.</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">For the purposes of these definitions, the singular includes the plural and the</td>
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<tr valign="bottom">
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid" colspan="2" align="left">plural includes the singular, unless otherwise indicated.</td>
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<tr>
<td colspan="5">&#160;</td>
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<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">General Exclusions -</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">This bond does not directly or indirectly cover:</b></td>
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<td align="left"><em style="FONT-FAMILY: Arial">Applicable to All Insuring</em></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td colspan="2" align="left">&#160;</td>
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<tr valign="bottom">
<td align="left"><em style="FONT-FAMILY: Arial">Clauses</em></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">loss not reported to the COMPANY in writing within sixty (60) days after</td>
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<td align="left"></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">termination of this Bond as an entirety;</td>
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<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">loss due to riot or civil commotion outside the United States of America and</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Canada, or any loss due to military, naval or usurped power, war or</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">insurrection. This Section 2.b., however, shall not apply to loss which occurs</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">in transit in the circumstances recited in INSURING CLAUSE 3., provided</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">that when such transit was initiated there was no knowledge on the part of</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">any person acting for the ASSURED of such riot, civil commotion, military,</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">naval or usurped power, war or insurrection;</td>
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<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">c.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">loss resulting from the effects of nuclear fission or fusion or radioactivity;</td>
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<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">d.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">loss of potential income including, but not limited to, interest and dividends</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">not realized by the ASSURED or by any customer of the ASSURED;</td>
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<td colspan="5">&#160;</td>
</tr>

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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">e.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">damages of any type for which the ASSURED is legally liable, except</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">compensatory damages, but not multiples thereof, arising from a loss</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">covered under this Bond;</td>
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<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">f.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">costs, fees and expenses incurred by the ASSURED in establishing the</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">existence of or amount of loss under this Bond, except to the extent covered</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">under INSURING CLAUSE 11.;</td>
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<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">g.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">loss resulting from indirect or consequential loss of any nature;</td>
</tr>
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<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond (5-98)</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 11 of 19</td>
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<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Conditions and</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Limitations</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr style="HEIGHT: 18px">
<td colspan="8">&#160;</td>
</tr>

<tr>
<td colspan="8">&#160;</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">General Exclusions -</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">h.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">loss resulting from dishonest acts by any member of the Board of Directors</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Applicable to All Insuring</i></td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="4"><font face="Arial,Arial,Helvetica,sans-serif">or Board of Trustees of the ASSURED who is not an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee</b><font face="Arial,Arial,Helvetica,sans-serif">, acting</font></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Clauses</i></td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">alone or in collusion with others;</td>
</tr>

<tr style="HEIGHT: 18px" valign="bottom">
<td style="TEXT-ALIGN: left"><em style="FONT-FAMILY: Arial">(continued)</em></td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">i.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">loss, or that part of any loss, resulting solely from any violation by the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">ASSURED or by any <b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee</b><font style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif">:</font></td>
</tr>

<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="8" align="center"></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">of any law regulating:</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">the issuance, purchase or sale of securities,</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">securities transactions on security or commodity exchanges or</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">the over the counter market,</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">c.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">investment companies,</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">d.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">investment advisors, or</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">of any rule or regulation made pursuant to any such law; or</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">j.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">loss of confidential information, material or data;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="right">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">k.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">loss resulting from voice requests or instructions received over the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">telephone, provided however, this Section 2.k. shall not apply to INSURING</td>
</tr>

<tr valign="bottom">
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: left" colspan="4">CLAUSE 7. or 9.</td>
</tr>

<tr>
<td colspan="8">&#160;</td>
</tr>

<tr>
<td colspan="8">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Specific Exclusions -</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">3</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td colspan="5" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">This Bond does not directly or indirectly cover:</b></td>
</tr>

<tr valign="bottom">
<td align="left"><em style="FONT-FAMILY: Arial">Applicable To All Insuring</em></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td colspan="5" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><em style="FONT-FAMILY: Arial">Clauses Except Insuring</em></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="TEXT-ALIGN: left" colspan="4"><font face="Arial,Arial,Helvetica,sans-serif">loss caused by an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee</b><font face="Arial,Arial,Helvetica,sans-serif">, provided, however, this Section 3.a. shall not</font></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left"><em style="FONT-FAMILY: Arial">Clause 1.</em></td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">apply to loss covered under INSURING CLAUSE 2. or 3. which results</td>
</tr>

<tr style="HEIGHT: 11px" valign="bottom">
<td align="left"></td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">directly from misplacement, mysterious unexplainable disappearance, or</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">damage or destruction of <b style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property</b><font style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif">;</font></td>
</tr>

<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="8" align="center"></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">loss through the surrender of property away from premises of the ASSURED</td>
</tr>

<tr style="HEIGHT: 20px" valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">as a result of a threat:</td>
</tr>

<tr style="HEIGHT: 20px" valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="TEXT-ALIGN: left" colspan="2"><font face="Arial,Arial,Helvetica,sans-serif">to do bodily harm to any natural person, except loss of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">in</font></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">transit in the custody of any person acting as messenger of the</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">ASSURED, provided that when such transit was initiated there was no</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">knowledge by the ASSURED of any such threat, and provided further</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">that this Section 3.b. shall not apply to INSURING CLAUSE 7., or</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">to do damage to the premises or </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">of the ASSURED;</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td colspan="2" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">c.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">loss resulting from payments made or withdrawals from any account</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">involving erroneous credits to such account;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">d.</td>
<td style="TEXT-ALIGN: left" colspan="4"><font face="Arial,Arial,Helvetica,sans-serif">loss involving </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Items of Deposit </b><font face="Arial,Arial,Helvetica,sans-serif">which are not finally paid for any reason</font></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">provided however, that this Section 3.d. shall not apply to INSURING</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">CLAUSE 10.;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">&#160;</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">e.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">loss of property while in the mail;</td>
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond (5-98)</td>
<td align="left">&#160;</td>
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 12 of 19</td>
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<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Conditions and</i></b></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Limitations</i></b></td>
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<td align="left">&#160;</td>
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<td colspan="9">&#160;</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Specific Exclusions -</i></td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">f.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">loss resulting from the failure for any reason of a financial or depository</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Applicable To All Insuring</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">institution, its receiver or other liquidator to pay or deliver funds or other</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Clauses Except Insuring</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="5" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">to the ASSURED provided further that this Section 3.f. shall not</font></td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Clause 1.</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="5" align="left"><font face="Arial,Arial,Helvetica,sans-serif">apply to loss of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">resulting directly from robbery, burglary,</font></td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">(continued)</i></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">misplacement, mysterious unexplainable disappearance, damage,</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">destruction or removal from the possession, custody or control of the ASSURED.</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left"></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">g.</td>
<td colspan="5" align="left"><font face="Arial,Arial,Helvetica,sans-serif">loss of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">while in the custody of a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Transportation Company</b><font face="Arial,Arial,Helvetica,sans-serif">,</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">provided however, that this Section 3.g. shall not apply to INSURING CLAUSE 3.;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left"></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">h.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">loss resulting from entries or changes made by a natural person with</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="5" align="left"><font face="Arial,Arial,Helvetica,sans-serif">authorized access to a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Computer System </b><font face="Arial,Arial,Helvetica,sans-serif">who acts in good faith on</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">instructions, unless such instructions are given to that person by a software</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">contractor or its partner, officer, or employee authorized by the ASSURED to</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">design, develop, prepare, supply, service, write or implement programs for</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="5" align="left"><font face="Arial,Arial,Helvetica,sans-serif">the ASSURED's </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Computer System</b><font face="Arial,Arial,Helvetica,sans-serif">; or</font>&#160;&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td colspan="5" align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">i.</td>
<td colspan="5" align="left"><font face="Arial,Arial,Helvetica,sans-serif">loss resulting directly or indirectly from the input of data into a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Computer</b></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="5" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">System </b><font face="Arial,Arial,Helvetica,sans-serif">terminal, either on the premises of the customer of the ASSURED</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">or under the control of such a customer, by a customer or other person who</td>
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<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid" colspan="5" align="left">had authorized access to the customer's authentication mechanism.</td>
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<td colspan="9">&#160;</td>
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<td colspan="9">&#160;</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Specific Exclusions -</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">4</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td colspan="4" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">This bond does not directly or indirectly cover:</b></td>
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<td align="left"><em style="FONT-FAMILY: Arial">Applicable To All Insuring</em></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td colspan="4" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left"><em style="FONT-FAMILY: Arial">Clauses Except Insuring</em></td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">loss resulting from the complete or partial non-payment of or default on any</td>
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<td align="left"><em style="FONT-FAMILY: Arial">Clauses 1., 4., And 5.</em></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">loan whether such loan was procured in good faith or through trick, artifice,</td>
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<tr valign="bottom">
<td align="left"></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">fraud or false pretenses; provided, however, this Section 4.a. shall not apply</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">to INSURING CLAUSE 8.;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td colspan="9">&#160;</td>
</tr>

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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">loss resulting from forgery or any alteration;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="9">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">c.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">loss involving a counterfeit provided, however, this Section 4.c. shall not</td>
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<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid" colspan="3" align="left">apply to INSURING CLAUSE 5. or 6.</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
</tr>

<tr>
<td colspan="9">&#160;</td>
</tr>

<tr>
<td colspan="9">&#160;</td>
</tr>

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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Limit Of Liability/Non-</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">5</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="6">At all times prior to termination of this Bond, this Bond shall continue in force for</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Reduction And Non-</i></td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="6">the limit stated in the applicable sections of ITEM 2. of the DECLARATIONS,</td>
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<td style="TEXT-ALIGN: left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Accumulation Of Liability</i></td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="6">notwithstanding any previous loss for which the COMPANY may have paid or be</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="6">liable to pay under this Bond provided, however, that the liability of the COMPANY</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="6">under this Bond with respect to all loss resulting from:&#160;</td>
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<td colspan="9">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">any one act of burglary, robbery or hold-up, or attempt thereat, in which no</td>
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<tr style="HEIGHT: 5px" valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="5" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">is concerned or implicated, or</font>&#160;&#160;</td>
</tr>

<tr>
<td colspan="9">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">any one unintentional or negligent act on the part of any one person</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="5" align="left"><font face="Arial,Arial,Helvetica,sans-serif">resulting in damage to or destruction or misplacement of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property</b><font face="Arial,Arial,Helvetica,sans-serif">, or</font></td>
</tr>

<tr>
<td colspan="9">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">c.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">all acts, other than those specified in a. above, of any one person, or</td>
</tr>
</table>
</div>

<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="zf33724906dc741a1b9be1ce8308bf5f6" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond (5-98)</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 13 of 19</td>
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<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Conditions and</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Limitations</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Limit Of Liability/Non-</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">d.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">any one casualty or event other than those specified in a., b., or c. above,</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Reduction And Non-</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">shall be deemed to be one loss and shall be limited to the applicable LIMIT OF</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Accumulation Of Liability</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">LIABILITY stated in ITEM 2. of the DECLARATIONS of this Bond irrespective of</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">(continued)</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">the total amount of such loss or losses and shall not be cumulative in amounts</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">from year to year or from period to period.</td>
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<td colspan="5">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">All acts, as specified in c. above, of any one person which</td>
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<td colspan="5">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">i.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">directly or indirectly aid in any way wrongful acts of any other person or</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">persons, or</td>
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<td colspan="5">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ii.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">
<div>permit the continuation of wrongful acts of any other person or persons</div>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">whether such acts are committed with or without the knowledge of the wrongful</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">acts of the person so aided, and whether such acts are committed with or without</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">the intent to aid such other person, shall be deemed to be one loss with the</td>
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<td style="BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: #000000 1px solid" align="left">wrongful acts of all persons so aided.</td>
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<td colspan="5">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
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<tr>
<td colspan="5">&#160;</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Discovery</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">6</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">This Bond applies only to loss first discovered by an officer of the ASSURED</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">during the BOND PERIOD. Discovery occurs at the earlier of an officer of the</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">ASSURED being aware of:</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">facts which may subsequently result in a loss of a type covered by this Bond,</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">or</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">an actual or potential claim in which it is alleged that the ASSURED is liable</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">to a third party, regardless of when the act or acts causing or contributing to such loss occurred,</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">even though the amount of loss does not exceed the applicable DEDUCTIBLE</td>
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<td style="BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: #000000 1px solid" align="left">AMOUNT, or the exact amount or details of loss may not then be known.</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Notice To Company -</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">7</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">The ASSURED shall give the COMPANY notice thereof at the earliest</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Proof - Legal Proceedings</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">practicable moment, not to exceed sixty (60) days after discovery of loss, in</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Against Company</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">an amount that is in excess of 50% of the applicable DEDUCTIBLE</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">AMOUNT, as stated in ITEM 2. of the DECLARATIONS.</td>
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<td colspan="5">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">The ASSURED shall furnish to the COMPANY proof of loss, duly sworn to,</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">with full particulars within six (6) months after such discovery.</td>
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<td colspan="5">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">c.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Securities listed in a proof of loss shall be identified by certificate or bond</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">numbers, if issued with them.</td>
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<td colspan="5">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">d.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Legal proceedings for the recovery of any loss under this Bond shall not be</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">brought prior to the expiration of sixty (60) days after the proof of loss is filed</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">with the COMPANY or after the expiration of twenty-four (24) months from</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">the discovery of such loss.</td>
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<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">e.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">This Bond affords coverage only in favor of the ASSURED. No claim, suit,</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">action or legal proceedings shall be brought under this Bond by anyone</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">other than the ASSURED.</td>
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond (5-98)</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 14 of 19</td>
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<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Conditions and</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Limitations</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Notice To Company -</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">f.</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">Proof of loss involving </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Voice Initiated Funds Transfer Instruction </b><font face="Arial,Arial,Helvetica,sans-serif">shall</font></td>
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<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Proof - Legal Proceedings</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">include electronic recordings of such instructions.</td>
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<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Against Company</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

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<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">(continued)</i></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
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<tr>
<td colspan="5">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
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<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Deductible Amount</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">8</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">The COMPANY shall not be liable under any INSURING CLAUSES of this Bond</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">on account of loss unless the amount of such loss, after deducting the net amount</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">of all reimbursement and/or recovery obtained or made by the ASSURED, other</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">than from any Bond or policy of insurance issued by an insurance company and</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">covering such loss, or by the COMPANY on account thereof prior to payment by</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">the COMPANY of such loss, shall exceed the DEDUCTIBLE AMOUNT set forth in</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">ITEM 3. of the DECLARATIONS, and then for such excess only, but in no event</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">for more than the applicable LIMITS OF LIABILITY stated in ITEM 2. of the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">DECLARATIONS.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">There shall be no deductible applicable to any loss under INSURING CLAUSE 1.</td>
</tr>

<tr valign="bottom">
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">sustained by any </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Company</b><font face="Arial,Arial,Helvetica,sans-serif">.</font></td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Valuation</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">9</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">BOOKS OF ACCOUNT OR OTHER RECORDS</b></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">The value of any loss of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">consisting of books of account or other records</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">used by the ASSURED in the conduct of its business shall be the amount paid by</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">the ASSURED for blank books, blank pages, or other materials which replace the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">lost books of account or other records, plus the cost of labor paid by the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">ASSURED for the actual transcription or copying of data to reproduce such books</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">of account or other records.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">The value of any loss of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">other than books of account or other records</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">used by the ASSURED in the conduct of its business, for which a claim is made</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">shall be determined by the average market value of such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">on the</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">business day immediately preceding discovery of such loss provided, however,</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">that the value of any </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">replaced by the ASSURED with the consent of the</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">COMPANY and prior to the settlement of any claim for such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">shall be the</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, 'sans-serif'" colspan="2" align="left">actual market value at the time of replacement.</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="center">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">In the case of a loss of interim certificates, warrants, rights or other securities, the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">production of which is necessary to the exercise of subscription, conversion,</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">redemption or deposit privileges, the value of them shall be the market value of</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">such privileges immediately preceding their expiration if said loss is not discovered</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">until after their expiration. If no market price is quoted for such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">or for</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">such privileges, the value shall be fixed by agreement between the parties.</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">OTHER PROPERTY</b></td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">The value of any loss of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property</b><font face="Arial,Arial,Helvetica,sans-serif">, other than as stated above, shall be the actual</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">cash value or the cost of repairing or replacing such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">with </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">of</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">like quality and value, whichever is less.</td>
</tr>
</table>
</div>

<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="z627c225a49ff4e9688f4cb08fe4a1c7a" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond (5-98)</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 15 of 19</td>
</tr>
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<table id="z0c2af8e186264b5bac4af68594c9b528" cellspacing="0" border="0">
<tr valign="bottom">
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Conditions and</i></b></td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="WIDTH: 29px" align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Limitations</i></b></td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="WIDTH: 29px" align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">(continued)</i></td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="WIDTH: 29px" align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Securities Settlement</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">10</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 17px" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">In the event of a loss of securities covered under this Bond, the COMPANY may,</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">at its sole discretion, purchase replacement securities, tender the value of the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">securities in money, or issue its indemnity to effect replacement securities.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">The indemnity required from the ASSURED under the terms of this Section</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">against all loss, cost or expense arising from the replacement of securities by the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">COMPANY'S indemnity shall be:</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 29px" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">for securities having a value less than or equal to the applicable</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="WIDTH: 17px; TEXT-ALIGN: left">&#160;</td>
<td style="WIDTH: 29px; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">DEDUCTIBLE AMOUNT - one hundred (100%) percent;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 29px" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">for securities having a value in excess of the DEDUCTIBLE AMOUNT but</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="WIDTH: 17px; TEXT-ALIGN: left">&#160;</td>
<td style="WIDTH: 29px; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">within the applicable LIMIT OF LIABILITY - the percentage that the</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="WIDTH: 17px; TEXT-ALIGN: left">&#160;</td>
<td style="WIDTH: 29px; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">DEDUCTIBLE AMOUNT bears to the value of the securities;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 29px" align="left">c.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">for securities having a value greater than the applicable LIMIT OF LIABILITY</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="WIDTH: 17px; TEXT-ALIGN: left">&#160;</td>
<td style="WIDTH: 29px; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">- the percentage that the DEDUCTIBLE AMOUNT and portion in excess of</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="WIDTH: 17px; TEXT-ALIGN: left">&#160;</td>
<td style="WIDTH: 29px; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">the applicable LIMIT OF LIABILITY bears to the value of the securities.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">The value referred to in Section 10.a., b., and c. is the value in accordance with</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">Section 9, Valuation, regardless of the value of such securities at the time the loss</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">under the COMPANY'S indemnity is sustained.</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="center">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">The COMPANY is not required to issue its indemnity for any portion of a loss of</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">securities which is not covered by this Bond; however, the COMPANY may do so</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">as a courtesy to the ASSURED and at its sole discretion.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">The ASSURED shall pay the proportion of the Company's premium charge for the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">Company's indemnity as set forth in Section 10.a., b., and c. No portion of the</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">LIMIT OF LIABILITY shall be used as payment of premium for any indemnity</td>
</tr>

<tr valign="bottom">
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="WIDTH: 17px; BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px; BORDER-BOTTOM: rgb(0,0,0) 1px solid" colspan="2" align="left">purchased by the ASSURED to obtain replacement securities.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td colspan="2" align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Subrogation - Assignment </i><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">&#8211; </i><font face="Arial,Arial,Helvetica,sans-serif">11.</font></td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">In the event of a payment under this Bond, the COMPANY shall be subrogated to</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Recovery</i></td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">all of the ASSURED'S rights of recovery against any person or entity to the extent</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">of such payment. On request, the ASSURED shall deliver to the COMPANY an</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">assignment of the ASSURED'S rights, title and interest and causes of action</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">against any person or entity to the extent of such payment.</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">Recoveries, whether effected by the COMPANY or by the ASSURED, shall be</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 488px" colspan="2" align="left">applied net of the expense of such recovery in the following order:</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 29px" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">first, to the satisfaction of the ASSURED'S loss which would otherwise have</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="WIDTH: 17px; TEXT-ALIGN: left">&#160;</td>
<td style="WIDTH: 29px; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">been paid but for the fact that it is in excess of the applicable LIMIT OF</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="WIDTH: 17px; TEXT-ALIGN: left">&#160;</td>
<td style="WIDTH: 29px; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">LIABILITY,</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 29px" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">second, to the COMPANY in satisfaction of amounts paid in settlement of</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="WIDTH: 17px; TEXT-ALIGN: left">&#160;</td>
<td style="WIDTH: 29px; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">the ASSURED'S claim,</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 17px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 29px" align="left">c.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">third, to the ASSURED in satisfaction of the applicable DEDUCTIBLE</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="WIDTH: 17px; TEXT-ALIGN: left">&#160;</td>
<td style="WIDTH: 29px; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">AMOUNT, and</td>
</tr>
</table>
</div>

<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="z6c88cc3a6b384048a0bb0c54d5d9652c" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond (5-98)</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 16 of 19</td>
</tr>
</table>
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<table id="z8274f8d944114e7eb7a08ccce3143f65" cellspacing="0" border="0">
<tr valign="bottom">
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Conditions and</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Limitations</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Subrogation - Assignment </i><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">&#8211;</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">d.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">fourth, to the ASSURED in satisfaction of any loss suffered by the</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Recovery</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">ASSURED which was not covered under this Bond.</td>
</tr>

<tr valign="bottom">
<td align="left"><em style="FONT-FAMILY: Arial">(continued)</em></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Recovery from reinsurance or indemnity of the COMPANY shall not be deemed a</td>
</tr>

<tr valign="bottom">
<td style="BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left">recovery under this section.</td>
</tr>

<tr valign="bottom">
<td colspan="5" align="left">&#160;&#160;&#160;&#160;&#160;&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Cooperation Of Assured</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">12</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">At the COMPANY'S request and at reasonable times and places designated by</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">the COMPANY, the ASSURED shall:</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">submit to examination by the COMPANY and subscribe to the same under</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">oath,</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">produce for the COMPANY'S examination all pertinent records, and</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">c.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">cooperate with the COMPANY in all matters pertaining to the loss.</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left" colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">The ASSURED shall execute all papers and render assistance to secure to the</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">COMPANY the rights and causes of action provided for under this Bond. The</td>
</tr>

<tr valign="bottom">
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: left" colspan="2">ASSURED shall do nothing after loss to prejudice such rights or causes of action.</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left" colspan="5">&#160;</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left" colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Termination</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right">13</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">If the Bond is for a sole ASSURED, it shall not be terminated unless written notice</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">shall have been given by the acting party to the affected party and to the</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">Securities and Exchange Commission, Washington, D.C., not less than sixty (60)</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">days prior to the effective date of such termination.</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left" colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">If the Bond is for a joint ASSURED, it shall not be terminated unless written notice</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">shall have been given by the acting party to the affected party, and by the</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="2"><font face="Arial,Arial,Helvetica,sans-serif">COMPANY to all ASSURED </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Companies </b><font face="Arial,Arial,Helvetica,sans-serif">and to the Securities and</font></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">Exchange Commission, Washington, D.C., not less than sixty (60) days prior to</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">the effective date of such termination.</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left" colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="2"><font face="Arial,Arial,Helvetica,sans-serif">This Bond will terminate as to any one ASSURED, other than an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment</b></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="2"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company</b><font face="Arial,Arial,Helvetica,sans-serif">:</font></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left" colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">immediately on the taking over of such ASSURED by a receiver or other</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">liquidator or by State or Federal officials, or</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">immediately on the filing of a petition under any State or Federal statute</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">relative to bankruptcy or reorganization of the ASSURED, or assignment for</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">the benefit of creditors of the ASSURED, or</td>
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<td style="TEXT-ALIGN: left" colspan="5">&#160;</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">c.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">immediately upon such ASSURED ceasing to exist, whether through merger</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">into another entity, disposition of all of its assets or otherwise.</td>
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<td style="TEXT-ALIGN: left" colspan="5">&#160;</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">The COMPANY shall refund the unearned premium computed at short rates in</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">accordance with the standard short rate cancellation tables if terminated by the</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">ASSURED or pro rata if terminated for any other reason.</td>
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond (5-98)</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 17 of 19</td>
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<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Conditions and</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Limitations</i></b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Termination</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">If any partner, director, trustee, or officer or supervisory employee of an</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">(continued)</i></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">ASSURED not acting in collusion with an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">learns of any dishonest act</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">committed by such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">at any time, whether in the employment of the</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">ASSURED or otherwise, whether or not such act is of the type covered under this</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Bond, and whether against the ASSURED or any other person or entity, the</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">ASSURED:</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">shall immediately remove such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">from a position that would enable</font></td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">to cause the ASSURED to suffer a loss covered by this</font></td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Bond; and</td>
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<td style="TEXT-ALIGN: left" colspan="5">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">within forty-eight (48) hours of learning that an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">has committed</font></td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">any dishonest act, shall notify the COMPANY, of such action and provide full</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">particulars of such dishonest act.&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="center"></td>
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<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">The COMPANY may terminate coverage as respects any </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">sixty (60)</font></td>
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<tr style="HEIGHT: 20px" valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">days after written notice is received by each ASSURED </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Company</b></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">and the Securities and Exchange Commission, Washington, D.C. of its desire to</td>
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<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">terminate this Bond as to such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee</b><font face="Arial,Arial,Helvetica,sans-serif">.</font></td>
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<td colspan="5">&#160;</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Other Insurance</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">14</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Coverage under this Bond shall apply only as excess over any valid and collectible</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">insurance, indemnity or suretyship obtained by or on behalf of:</td>
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<td colspan="5">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">the ASSURED,</td>
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<td colspan="5">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td align="left"><font face="Arial,Arial,Helvetica,sans-serif">a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Transportation Company</b><font face="Arial,Arial,Helvetica,sans-serif">, or</font></td>
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<td colspan="5">&#160;</td>
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<tr style="HEIGHT: 20px" valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">c.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">another entity on whose premises the loss occurred or which employed the</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">person causing the loss or engaged the messenger conveying the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property</b></td>
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<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: left">involved.</td>
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<td colspan="5">&#160;</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Conformity</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">15</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">If any limitation within this Bond is prohibited by any law controlling this Bond's</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">construction, such limitation shall be deemed to be amended so as to equal the</td>
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<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid" colspan="2" align="left">minimum period of limitation provided by such law.</td>
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<td colspan="5">&#160;</td>
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<td colspan="5">&#160;</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Change or Modification</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">16</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">This Bond or any instrument amending or affecting this Bond may not be changed</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">or modified orally. No change in or modification of this Bond shall be effective</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">except when made by written endorsement to this Bond signed by an authorized</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">representative of the COMPANY.</td>
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<td colspan="5">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">If this Bond is for a sole ASSURED, no change or modification which would</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">adversely affect the rights of the ASSURED shall be effective prior to sixty (60)</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">days after written notice has been furnished to the Securities and Exchange</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Commission, Washington, D.C., by the acting party.</td>
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond (5-98)</td>
<td align="left">&#160;</td>
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 18 of 19</td>
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<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Conditions And</i></b></td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Limitations</i></b></td>
<td align="left">&#160;</td>
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<tr>
<td colspan="2">&#160;</td>
</tr>

<tr>
<td colspan="2">&#160;</td>
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<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">Change or Modification</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">If this Bond is for a joint ASSURED, no charge or modification which would</td>
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<tr valign="bottom">
<td align="left"><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Italic, Arial, Helvetica, sans-serif">(continued)</i></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">adversely affect the rights of the ASSURED shall be effective prior to sixty (60)</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left"><font face="Arial,Arial,Helvetica,sans-serif">days after written notice has been furnished to all insured </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Companies</b></td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">and to the Securities and Exchange Commission, Washington, D.C., by the</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">COMPANY.</td>
</tr>
</table>
</div>

<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="z00f83f7c70e946ba939638cc9f614e28" cellspacing="0" border="0">
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond (5-98)</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1421 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 19 of 19</td>
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<td align="center"><b><i style="FONT-SIZE: 80%; FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">Important Notice:</i></b></td>
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<tr>
<td>&#160;</td>
</tr>

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<td>&#160;</td>
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<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">The SEC Requires Proof of Your Fidelity Insurance Policy</b></td>
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<td>&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Your company is now required to file an electronic copy of your fidelity insurance coverage</td>
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<tr valign="bottom">
<td align="left"><font face="Arial,Arial,Helvetica,sans-serif">(Chubb&#8217;s ICAP Bond policy) to the Securities and Exchange Commission (SEC), accordin</font><font face="Arial,Arial,Helvetica,sans-serif">g to</font></td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">rules adopted by the SEC on June 12, 2006.</td>
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<td>&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Chubb is in the process of providing your agent/broker with an electronic copy of your insurance</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">policy as well as instructions on how to submit this proof of fidelity insurance coverage to the</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">SEC. You can expect to receive this information from your agent/broker shortly.</td>
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<td>&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">The electronic copy of your policy is provided by Chubb solely as a convenience and does not</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">affect the terms and conditions of coverage as set forth in the paper policy you receive by mail.</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">The terms and conditions of the policy mailed to you, which are the same as those set forth in</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">the electronic copy, constitute the entire agreement between your company and Chubb.</td>
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<td>&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">If you have any questions, please contact your agent or broker.</td>
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<p style="MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Form 14-02-12160 (ed. 7/2006)</p>
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<td align="center"><b style="FONT-SIZE: 120%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">IMPORTANT NOTICE TO POLICYHOLDERS</b></td>
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<td>&#160;</td>
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<td>&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 35.996pt" align="left">All of the members of the Chubb Group of Insurance companies doing business in the United</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">States (hereinafter &#8220;Chubb&#8221;) distribute their products through licensed insurance brokers and agents</td>
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<td align="left"><font face="Arial,Arial,Helvetica,sans-serif">(&#8220;producers&#8221;). Detailed i</font><font face="Arial,Arial,Helvetica,sans-serif">nformation regarding the types of compensation paid by Chubb to producers on</font></td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">US insurance transactions is available under the Producer Compensation link located at the bottom of the</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">page at www.chubb.com, or by calling 1-866-588-9478. Additional information may be available from your</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">producer.</td>
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<td>&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 35.996pt" align="left">Thank you for choosing Chubb.</td>
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<p style="MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">10-02-1295 (ed. 6/2007)</p>
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<td align="center"><b style="FONT-SIZE: 150%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">POLICYHOLDER</b></td>
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<td align="center"><b style="FONT-SIZE: 150%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">DISCLOSURE NOTICE OF</b></td>
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<td align="center"><b style="FONT-SIZE: 150%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">TERRORISM INSURANCE COVERAGE</b></td>
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<td align="center"><b style="FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">(for policies with no terrorism exclusion or sublimit)</b></td>
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<td align="center"><b style="FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Insuring Company: FEDERAL INSURANCE</b></td>
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<td align="center"><b style="FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">COMPANY</b></td>
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<td align="center">&#160;</td>
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<td align="left"><font face="Arial,Arial,Helvetica,sans-serif">You are hereby notified that, under the Terrorism Risk Insurance Act (the </font><font face="Arial,Arial,Helvetica,sans-serif">&#8220;Act&#8221;), </font><font face="Arial,Arial,Helvetica,sans-serif">this</font></td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">policy makes available to you insurance for losses arising out of certain acts of terrorism.</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Terrorism is defined as any act certified by the Secretary of the Treasury of the United</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">States, to be an act of terrorism; to be a violent act or an act that is dangerous to human</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">life, property or infrastructure; to have resulted in damage within the United States,</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">or outside the United States in the case of an air carrier or vessel or the premises of a</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">United States Mission; and to have been committed by an individual or individuals as part</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">of an effort to coerce the civilian population of the United States or to influence the policy</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">or affect the conduct of the United States Government by coercion.</td>
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<td>&#160;</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">You should know that the insurance provided by your policy for losses caused by acts of</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">terrorism is partially reimbursed by the United States under the formula set forth in the</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Act. Under this formula, the United States pays 85% of covered terrorism losses that</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">exceed the statutorily established deductible to be paid by the insurance company</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">providing the coverage. Beginning in 2016, the Federal share will be reduced by 1% per</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">year until it reaches 80%, where it will remain.</td>
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<td>&#160;</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">However, if aggregate insured losses attributable to terrorist acts certified under the Act</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">exceed $100 billion in a calendar year, the Treasury shall not make any payment for</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">any portion of the amount of such losses that exceeds $100 billion.</td>
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</table>
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<p style="MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">10-02-1281 (Ed. 03/2015)</p>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">If aggregate insured losses attributable to terrorist acts certified under the Act exceed</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$100 billion in a calendar year and we have met our insurer deductible under the Act,</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">we shall not be liable for the payment of any portion of the amount of such losses that</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">exceeds $100 billion, and in such case insured losses up to that amount are subject to</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">pro rata allocation in accordance with procedures established by the Secretary of the</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Treasury.</td>
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<td>&#160;</td>
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<td align="left"><font face="Arial,Arial,Helvetica,sans-serif">The portion of your </font><font face="Arial,Arial,Helvetica,sans-serif">policy&#8217;</font><font face="Arial,Arial,Helvetica,sans-serif">s annual premium that is attributable to insurance for such acts</font></td>
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<td align="left"><font face="Arial,Arial,Helvetica,sans-serif">of terrorism is: $ </font><b style="FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">-0-.</b></td>
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<tr>
<td>&#160;</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">If you have any questions about this notice, please contact your agent or broker.</td>
</tr>
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</div>

<p style="MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">10-02-1281 (Ed. 03/2015)</p>
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<td style="TEXT-ALIGN: right; TEXT-INDENT: 252.046pt" colspan="3"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">FEDERAL INSURANCE COMPANY</b>&#160;</td>
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<td colspan="3">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right; TEXT-INDENT: 252.046pt" colspan="3">Endorsement No: 1 Bond</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right; TEXT-INDENT: 252.046pt" colspan="3">Bond Number: 81951478&#160;</td>
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<td style="TEXT-ALIGN: center" colspan="3">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center" colspan="3">NAME OF ASSURED: MACQUARIE MANAGEMENT HOLDING COMPANY&#160;&#160;</td>
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<tr>
<td style="TEXT-ALIGN: center" colspan="3">&#160;&#160;<b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">NAME OF ASSURED ENDORSEMENT</b>&#160;&#160;</td>
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<td colspan="3">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">It is agreed that the NAME OF ASSURED in the DECLARATIONS is amended to read as follows:</td>
<td align="left">&#160;</td>
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<td colspan="3">&#160;</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Group Adviser Funds</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Group Cash Reserve</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Group Equity Funds I</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Group Equity Funds II</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Group Equity Funds III</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Group Equity Funds IV</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Group Equity Funds V</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Group Foundation Funds</td>
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<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
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<td align="left">&#160;</td>
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<tr valign="bottom">
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Group Income Funds</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware VIP Trust</td>
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<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Group State Tax-Free Income Trust</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Group Tax-Free Fund</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Group Tax-Free Money Fund</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Pooled Trust</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Voyageur Insured Funds</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Voyageur Intermediate Tax Free Funds</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Voyageur Mutual Funds</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Voyageur Mutual Funds II</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Voyageur Mutual Funds III</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Voyageur Tax-Free Funds</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Investments Global Dividend and Income Fund, Inc.</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Investments Arizona Municipal Income Fund, Inc.</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Investments Colorado Municipal Income Fund, Inc.</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Investments National Municipal Income Fund</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Investments Minnesota Municipal Income Fund II, Inc.</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Enhanced Global Dividend and Income Fund</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" colspan="2" align="left">and any other fund(s) now existing in the Delaware Investments Family of Funds</td>
<td align="left">&#160;</td>
</tr>
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<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-0949 (Rev. 1-97)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 1</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2017.</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.</td>
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<p style="MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Date: November 1, 2017</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left"><img src="image00002.jpg"></p>

<p style="TEXT-ALIGN: center"><br>
</p>

<div style="TEXT-ALIGN: left">
<table id="z69f3eb5d2119481cb9b1cb8bbb2048fe" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-0949 (Ed. 1-97)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 2</td>
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<table id="zb2b976a9cce442adb5034f0b560cce9d" cellspacing="0" border="0">
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="TEXT-ALIGN: right; TEXT-INDENT: 167.54pt" colspan="2"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">FEDERAL INSURANCE COMPANY</b></td>
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<tr>
<td colspan="7">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right; TEXT-INDENT: 167.54pt" colspan="2">Endorsement No.: 2 Bond</td>
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<tr>
<td colspan="7">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
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<tr>
<td colspan="7">&#160;</td>
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<tr>
<td colspan="7">&#160;</td>
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<tr>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center" colspan="7">NAME OF ASSURED: MACQUARIE MANAGEMENT HOLDING COMPANY</td>
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<tr>
<td style="TEXT-ALIGN: center" colspan="7">&#160;</td>
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<tr>
<td style="TEXT-ALIGN: center" colspan="7">&#160;<b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">TELEFACSIMILE INSTRUCTION FRAUD ENDORSEMENT</b></td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="6" align="left">It is agreed that this Bond is amended as follows:</td>
<td align="left">&#160;</td>
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<tr>
<td colspan="7">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">By adding the following INSURING CLAUSE:</td>
<td align="left">&#160;</td>
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<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">12</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Telefacsimile Instruction</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">Loss resulting directly from the ASSURED having transferred, paid or delivered any funds</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><font face="Arial,Arial,Helvetica,sans-serif">faith of any fraudulent instructions sent by a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Customer</b><font face="Arial,Arial,Helvetica,sans-serif">, financial institution or another</font></td>
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<tr style="HEIGHT: 19px" valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><font face="Arial,Arial,Helvetica,sans-serif">office of the ASSURED by </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Telefacsimile </b><font face="Arial,Arial,Helvetica,sans-serif">directly to the ASSURED authorizing or</font></td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><font face="Arial,Arial,Helvetica,sans-serif">acknowledging the transfer, payment or delivery of funds or </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Property </b><font face="Arial,Arial,Helvetica,sans-serif">or the</font></td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">establishment of a credit or the debiting of an account or the giving of value by the</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="2"><font face="Arial,Arial,Helvetica,sans-serif">ASSURED where such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Telefacsimile </b><font face="Arial,Arial,Helvetica,sans-serif">instructions:</font></td>
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</tr>

<tr>
<td colspan="7">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
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</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
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</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left; TEXT-INDENT: 0px">or authenticate a test key arrangement, and</td>
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</tr>

<tr>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
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</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="2"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Customer </b><font face="Arial,Arial,Helvetica,sans-serif">or financial institution and which bear a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Forgery </b><font face="Arial,Arial,Helvetica,sans-serif">of a signature,</font></td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="2"><font face="Arial,Arial,Helvetica,sans-serif">provided that the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Telefacsimile </b><font face="Arial,Arial,Helvetica,sans-serif">instruction was verified by a direct call back to an</font></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">employee of the financial institution, or a person thought by the ASSURED to be</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left; TEXT-INDENT: 0px" colspan="2"><font face="Arial,Arial,Helvetica,sans-serif">the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Customer</b><font face="Arial,Arial,Helvetica,sans-serif">, or an employee of another financial institution.</font></td>
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<td colspan="7">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="TEXT-ALIGN: left" colspan="5"><font face="Arial,Arial,Helvetica,sans-serif">By deleting from Section 1., Definitions, the definition of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Customer </b><font face="Arial,Arial,Helvetica,sans-serif">in its entirety, and substituting</font></td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">the following:</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td colspan="7">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">d.</td>
<td align="left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Customer </b><font face="Arial,Arial,Helvetica,sans-serif">means an individual, corporate, partnership, trust customer, shareholder or</font></td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">subscriber of an Investment Company which has a written agreement with the ASSURED</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><font face="Arial,Arial,Helvetica,sans-serif">for </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Voice Initiated Funds Transfer Instruction </b><font face="Arial,Arial,Helvetica,sans-serif">or </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Telefacsimile </b><font face="Arial,Arial,Helvetica,sans-serif">Instruction.</font></td>
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<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="zbbf62e954c0d47688d2679afbf2c33a1" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond</td>
<td style="FONT-SIZE: 70%" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-2367 (Rev. 10-03)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 1</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">3</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">By adding to Section 1., Definitions, the following:</td>
<td align="left">&#160;</td>
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<td colspan="5">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">r.</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Telefacsimile </b><font face="Arial,Arial,Helvetica,sans-serif">means a system of transmitting written documents by electronic signals</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">over telephone lines to equipment maintained by the ASSURED for the purpose of</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">reproducing a copy of said document. <b style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Telefacsimile </b><font face="Arial,Arial,Helvetica,sans-serif">does not mean electronic</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">communication sent by Telex or similar means of communication, or through an</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">electronic communication system or through an automated clearing house.</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="center">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">4</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">By adding to Section 3., Specific Exclusions Applicable to All Insuring Clauses Except Insuring</td>
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<tr style="HEIGHT: 10px" valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">Clause 1. the following:</td>
<td align="left">&#160;</td>
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<td colspan="5">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">j.</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">loss resulting directly or indirectly from </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Telefacsimile </b><font face="Arial,Arial,Helvetica,sans-serif">instructions provided, however, this</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">exclusion shall not apply to this INSURING CLAUSE.</td>
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<td colspan="5">&#160;</td>
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<td colspan="5">&#160;</td>
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<td colspan="5">&#160;</td>
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<td colspan="5">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="5">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2017.</td>
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<td colspan="5">&#160;&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="5">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.</td>
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<p style="MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Date: November 1, 2017</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left"><img src="image00002.jpg"></p>

<p style="TEXT-ALIGN: center"><br>
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond</td>
<td style="FONT-SIZE: 70%" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-2367 (Rev. 10-03)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 2</td>
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<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td style="WIDTH: 25px" align="left">&#160;</td>
<td style="WIDTH: 591px; TEXT-ALIGN: right; TEXT-INDENT: 194.45pt" colspan="2"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">FEDERAL INSURANCE COMPANY</b></td>
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<tr>
<td colspan="6">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 25px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 591px; TEXT-ALIGN: right; TEXT-INDENT: 194.45pt" colspan="2">Endorsement No.: 3 Bond</td>
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<td colspan="6">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 25px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 591px; TEXT-ALIGN: right; TEXT-INDENT: 194.45pt" colspan="2">Bond Number: 81951478</td>
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<td colspan="6">&#160;</td>
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<td colspan="6">&#160;</td>
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<td colspan="6">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center" colspan="6">NAME OF ASSURED: MACQUARIE MANAGEMENT HOLDING COMPANY&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM-COLOR: ; TEXT-ALIGN: center" colspan="6">&#160;</td>
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<tr>
<td style="TEXT-ALIGN: center" colspan="6">&#160;<b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">AUTOMATED TELEPHONE TRANSACTION ENDORSEMENT</b></td>
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<tr>
<td colspan="6">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">It is agreed that this Bond is amended as follows:</td>
<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">&#160;</td>
<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">By adding the following INSURING CLAUSE:</td>
<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">13. Automated Telephone System Transaction</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">Loss resulting directly from the ASSURED having transferred funds on the faith of any</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="4"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Automated Phone System (APS) Transaction</b><font face="Arial,Arial,Helvetica,sans-serif">, where the request for such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS</b></td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="4"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Transaction </b><font face="Arial,Arial,Helvetica,sans-serif">is unauthorized or fraudulent and is made with the intent to deceive. In order for</font></td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">coverage to apply under this INSURING CLAUSE the ASSURED shall maintain and follow all</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="4"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS Designated Procedures</b><font face="Arial,Arial,Helvetica,sans-serif">. A single failure of the ASSURED to maintain and follow a</font></td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="4"><font face="Arial,Arial,Helvetica,sans-serif">particular </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS Designated Procedure </b><font face="Arial,Arial,Helvetica,sans-serif">in a particular </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS Transaction </b><font face="Arial,Arial,Helvetica,sans-serif">will not preclude</font></td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left; TEXT-INDENT: 0px" colspan="3">coverage under this INSURING CLAUSE.</td>
<td align="left">&#160;</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left; TEXT-INDENT: 25.195pt" colspan="3">&#160;</td>
<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">By adding to Section 1., Definitions, the following:</td>
<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="4"><font face="Arial,Arial,Helvetica,sans-serif">s. </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS Designated Procedures </b><font face="Arial,Arial,Helvetica,sans-serif">means all of the following procedures:</font></td>
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<tr>
<td colspan="6">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 25px" align="left">)</td>
<td style="WIDTH: 591px" colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">No </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS Transaction </b><font face="Arial,Arial,Helvetica,sans-serif">shall be executed unless the shareholder or unitholder to whose</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 25px" align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 25px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 400px; TEXT-ALIGN: left; TEXT-INDENT: 0px">(Election in Application)</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 25px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 400px; TEXT-INDENT: 2.76pt" align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 25px" align="left">)</td>
<td style="WIDTH: 591px" colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">All </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS Transactions </b><font face="Arial,Arial,Helvetica,sans-serif">shall be logged or otherwise recorded and the records shall be</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 25px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 400px" align="left">retained for at least six (6) months. (Logging)</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 25px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 400px" align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 591px" colspan="2" align="left">Information contained in the records shall be capable of being retrieved and produced</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 25px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 591px" colspan="2" align="left">within a reasonable time after retrieval of specific information is requested, at a success</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 25px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 400px" align="left">rate of no less than 85 percent.</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 25px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 400px" align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(3</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 25px" align="left">)</td>
<td style="WIDTH: 591px" colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">The caller in any request for an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS Transaction</b><font face="Arial,Arial,Helvetica,sans-serif">, before executing that </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS</b></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 25px" align="left">&#160;</td>
<td style="WIDTH: 591px" colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Transaction </b><font face="Arial,Arial,Helvetica,sans-serif">must enter a personal identification number (PIN), social security number</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 25px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 400px" align="left">and account number. (Identity Test)</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 25px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 400px" align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 25px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 591px" colspan="2" align="left">If the caller fails to enter a correct PIN within three (3) attempts, the caller must not be</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 25px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 591px" colspan="2" align="left">allowed additional attempts during the same telephone call to enter the PIN. The caller</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 25px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 591px" colspan="2" align="left">may either be instructed to redial a customer service representative or may be</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="WIDTH: 25px" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; WIDTH: 591px" colspan="2" align="left">immediately connected to such a representative. (Limited attempts to Enter PIN)</td>
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</table>
</div>

<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="z061d1a0ced2247c8a22b9180be56234f" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond</td>
<td style="FONT-SIZE: 70%" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-2345 (Ed. 10-00)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 1</td>
</tr>
</table>
</div>
</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
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<div style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<div style="TEXT-ALIGN: left">
<table id="zdc09346b30ba42d9864c61fc66982766" cellspacing="0" border="0">
<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(4</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td align="right"><font face="Arial,Arial,Helvetica,sans-serif">A written confirmation of any </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS Transaction </b><font face="Arial,Arial,Helvetica,sans-serif">or change of address shall be mailed to</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">the shareholder or unitholder to whose account such transaction relates, at the record</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">address, by the end of the insured's next regular processing cycle, but in no event later</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">than five (5) business days following such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS Transaction</b><font face="Arial,Arial,Helvetica,sans-serif">. (Written Confirmation)</font></td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(5</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="TEXT-ALIGN: left"><font face="Arial,Arial,Helvetica,sans-serif">Access to the equipment which permits the entity receiving the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS Transaction</b></td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">request to process and effect the transaction shall be limited in the following manner:</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">(Access to APS Equipment)</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">&#160;</td>
</tr>

<tr style="HEIGHT: 19px" valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">t.</td>
<td style="TEXT-ALIGN: left" colspan="3"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS Election </b><font face="Arial,Arial,Helvetica,sans-serif">means any election concerning various account features available to the</font></td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><font face="Arial,Arial,Helvetica,sans-serif">shareholder or unitholder which is made through the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Automated Phone System </b><font face="Arial,Arial,Helvetica,sans-serif">by means of</font></td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><font face="Arial,Arial,Helvetica,sans-serif">information transmitted by an individual caller through use of a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Automated Phone System</b><font face="Arial,Arial,Helvetica,sans-serif">.</font></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">These features include account statements, auto exchange, auto asset builder, automatic</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">withdrawal, dividend/capital gain options, dividend sweep, telephone balance consent and</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">change of address.</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td colspan="3" align="right">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">u.</td>
<td style="TEXT-ALIGN: left" colspan="3"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS Exchange </b><font face="Arial,Arial,Helvetica,sans-serif">means any exchange of shares or units in a registered account of one fund</font></td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">into shares or units in an account with the same tax identification number and same</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">ownership-type code of another fund in the same complex pursuant to exchange privileges of</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><font face="Arial,Arial,Helvetica,sans-serif">the two funds, which exchange is requested through the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Automated Phone System </b><font face="Arial,Arial,Helvetica,sans-serif">by</font></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><font face="Arial,Arial,Helvetica,sans-serif">means of information transmitted by an individual caller through use of an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Automated Phone</b></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">System</b><font face="Arial,Arial,Helvetica,sans-serif">.</font></td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">v.</td>
<td style="TEXT-ALIGN: left" colspan="3"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS Purchase </b><font face="Arial,Arial,Helvetica,sans-serif">means any purchase of shares or units issued by an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Company</b></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><font face="Arial,Arial,Helvetica,sans-serif">which is requested through an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Automated Phone System</b><font face="Arial,Arial,Helvetica,sans-serif">.</font></td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">w.</td>
<td style="TEXT-ALIGN: left" colspan="3"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS Redemption </b><font face="Arial,Arial,Helvetica,sans-serif">means any redemption of shares or units issued by an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment</b></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company </b><font face="Arial,Arial,Helvetica,sans-serif">which it requested through the telephone by means of information transmitted by an</font></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><font face="Arial,Arial,Helvetica,sans-serif">individual caller through use of a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Automated Phone System</b><font face="Arial,Arial,Helvetica,sans-serif">.</font></td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">x.</td>
<td style="TEXT-ALIGN: left" colspan="3"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS Transaction </b><font face="Arial,Arial,Helvetica,sans-serif">means any </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS Purchase, APS Redemption, APS Election </b><font face="Arial,Arial,Helvetica,sans-serif">or </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">APS</b></td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Exchange</b><font face="Arial,Arial,Helvetica,sans-serif">.</font></td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">y.</td>
<td style="TEXT-ALIGN: left" colspan="3"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Automated Phone System </b><font face="Arial,Arial,Helvetica,sans-serif">means an automated system which receives and converts to</font></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="3"><font face="Arial,Arial,Helvetica,sans-serif">executable instructions transmissions through the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Automated Phone System </b><font face="Arial,Arial,Helvetica,sans-serif">through use of</font></td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">a touch-tone keypad or other tone system; and always excluding transmissions from a</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">computer system or part thereof.</td>
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<tr style="HEIGHT: 17px" valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
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<tr style="HEIGHT: 17px" valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">3</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">By adding the following Section after Section 4., Specific Exclusions-Applicable To All Insuring</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">Clauses Except 1., 4., 5.:</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">Section 4.A Specific Exclusion-Applicable to Insuring Clause 13</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr style="HEIGHT: 18px" valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">Loss resulting from:</td>
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<tr style="HEIGHT: 18px" valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">the redemption of shares or units, where the proceeds of such redemption are made payable</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">to other than:</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(1</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">the shares or units of record,</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(2</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">a person designated to receive redemption proceeds, or</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(3</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">a bank account designated to receive redemption proceeds, or</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">the redemption of shares or units, where the proceeds of such redemption are paid by check</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">mailed to any address, unless such address has either been designated the shareholder or</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">prior to such redemption, or</td>
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<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="z9efe78085cd74bcbbfc721b4ad0c6799" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond</td>
<td style="FONT-SIZE: 70%" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-2345 (Ed. 10-00)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 2</td>
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<div>&#160;</div>

<div>&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
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<div>&#160;</div>
</div>
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<div style="PAGE-BREAK-BEFORE: always">
<div style="TEXT-ALIGN: left">
<table id="zb979a032fb014b3db3a78e8f7deb7061" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 25.199pt" align="left">c.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">the redemption of shares or units, where shareholder or unitholder of the ASSURED</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">designated bank account of record.</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right" colspan="5">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2017.&#160;&#160;&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="5">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.&#160;&#160;&#160;</td>
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<p style="MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Date: November 1, 2017</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left"><img src="image00002.jpg"></p>

<div style="TEXT-ALIGN: left">
<table id="z222656b7275640edb3906083cd54d7f7" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond</td>
<td style="FONT-SIZE: 70%" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-2345 (Ed. 10-00)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 3</td>
</tr>
</table>
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<table id="z2370f2c37dbe41eeb973d551a3d70a03" cellspacing="0" border="0">
<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="right">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="TEXT-ALIGN: right; TEXT-INDENT: 195.41pt" colspan="3"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">FEDERAL INSURANCE COMPANY</b>&#160;</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right; TEXT-INDENT: 195.41pt" colspan="3">Endorsement No.: 4 Bond</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right; TEXT-INDENT: 195.41pt" colspan="3">Bond Number: 81951478&#160;</td>
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<tr>
<td colspan="10">&#160;</td>
</tr>

<tr>
<td colspan="10">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center" colspan="10">NAME OF ASSURED: MACQUARIE MANAGEMENT HOLDING COMPANY&#160;&#160;</td>
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<tr valign="bottom">
<td colspan="10" align="center">&#160;</td>
</tr>

<tr valign="bottom">
<td colspan="10" align="center"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">STOP PAYMENT ORDER OR REFUSAL TO PAY CHECK ENDORSEMENT</b></td>
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<tr valign="bottom">
<td colspan="10" align="center">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="8" align="left">It is agreed that this Bond is amended as follows:</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="8" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">By adding the following INSURING CLAUSE:</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#8220;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">14</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">Stop Payment Order or Refusal to Pay Check</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;&#160;&#160;&#160;</td>
<td align="left">&#160;&#160;&#160;&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;&#160;&#160;&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;&#160;&#160;&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;&#160;&#160;&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
<td align="left">&#160;&#160;&#160;&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="right">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right"></td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, 'sans-serif'" align="left">Loss resulting directly from the ASSURED being legally liable to pay compensatory damages for:</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="right">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="right">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">a.</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 9.959pt" colspan="2" align="left">complying or failing to comply with notice from any customer of the ASSURED or any</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="right">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 9.959pt" colspan="2" align="left">authorized representative of such customer, to stop payment on any check or draft made or</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="right">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 9.959pt" colspan="2" align="left">drawn upon or against the ASSURED by such customer or by any authorized</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="right">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 9.959pt" align="left">representative of such customer, or</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="right">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 9.959pt" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="right">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">b.</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 9.959pt" colspan="2" align="left">refusing to pay any check or draft made or drawn upon or against the ASSURED by any</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="right">&#160;</td>
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<td style="TEXT-INDENT: 9.959pt" colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">customer of the ASSURED or </font><font face="Arial,Arial,Helvetica,sans-serif">by any authorized representative of such customer.&#8221;</font></td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">By adding the following Specific Exclusion:</td>
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<td align="left">&#160;</td>
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<td align="left">&#160;</td>
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<td colspan="5" align="left"><font face="Arial,Arial,Helvetica,sans-serif">&#8220;Section 4.A. Specific Exclusions &#8211; </font><font face="Arial,Arial,Helvetica,sans-serif">Applicable to INSURING CLAUSE 14</font></td>
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<td align="right">&#160;</td>
<td colspan="5" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">This Bond does not directly or indirectly cover:</b></td>
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<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="right">&#160;</td>
<td colspan="5" align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">a.</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">liability assumed by the ASSURED by agreement under any contract, unless such liability would</td>
<td style="TEXT-ALIGN: left">&#160;</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
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<tr valign="bottom">
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">b.</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">loss arising out of:</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(1</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left; TEXT-INDENT: 9.959pt" colspan="2">libel, slander, wrongful entry, eviction, defamation, false arrest, false imprisonment,</td>
<td style="TEXT-ALIGN: left">&#160;</td>
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<tr style="HEIGHT: 18px" valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left; TEXT-INDENT: 9.959pt">malicious prosecution, assault or battery,</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left; TEXT-INDENT: 9.959pt">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="right">&#160;</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 9.959pt" colspan="2" align="left">sickness, disease, physical bodily harm, mental or emotional distress or anguish, or death</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="right">&#160;</td>
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<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 9.959pt" align="left">of any person, or</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 9.959pt" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="right">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(3</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 9.959pt" align="left">discrimination.&#8221;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 9.959pt" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="9">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2017.</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="9" align="right">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="9">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.</td>
<td align="left">&#160;</td>
</tr>
</table>
</div>

<p style="MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Date: November 1, 2017</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left"><br>
<img src="image00002.jpg"></p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">ICAP Bond</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Form 17-02-2365 (Ed. 10-00)</p>
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<td align="left">&#160;</td>
<td colspan="2" align="right"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">FEDERAL INSURANCE COMPANY</b></td>
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<tr valign="bottom">
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<td align="left">&#160;</td>
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<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="right">Endorsement No.: 5 Bond</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right; TEXT-INDENT: 194.45pt" colspan="2">Bond Number: 81951478</td>
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<tr>
<td colspan="8">&#160;</td>
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<tr>
<td colspan="8">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center" colspan="8">NAME OF ASSURED: MACQUARIE MANAGEMENT HOLDING COMPANY&#160;</td>
</tr>

<tr valign="bottom">
<td colspan="8" align="center">&#160;</td>
</tr>

<tr valign="bottom">
<td colspan="8" align="center"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">UNAUTHORIZED SIGNATURE ENDORSEMENT</b></td>
</tr>

<tr valign="bottom">
<td colspan="8" align="center">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="7" align="left">It is agreed that this Bond is amended as follows:</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="7" align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">By adding the following INSURING CLAUSE:</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">15</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">Unauthorized Signature</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">Loss resulting directly from the ASSURED having accepted, paid or cashed any check or</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="4"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Withdrawal Order </b><font face="Arial,Arial,Helvetica,sans-serif">made or drawn on or against the account of the ASSURED&#8217;S customer</font></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">which bears the signature or endorsement of one other than a person whose name and signature</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">is on file with the ASSURED as a signatory on such account.</td>
<td style="TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">It shall be a condition precedent to the ASSURED'S right of recovery under this INSURING</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">CLAUSE that the ASSURED shall have on file signatures of all the persons who are signatories</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">on such account.</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">By adding to Section 1., Definitions, the following:</td>
<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">z.</td>
<td align="left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="4"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Instruction </b><font face="Arial,Arial,Helvetica,sans-serif">means a written order to the issuer of an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Uncertificated Security </b><font face="Arial,Arial,Helvetica,sans-serif">requesting that the</font></td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="4" align="right">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">aa.</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">enterprise of the issuer or an obligation of the issuer, which is:</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">not represented by an instrument and the transfer of which is registered on books</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">maintained for that purpose by or on behalf of the issuer, and</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">of a type commonly dealt in on securities exchanges or markets, and</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right">(3</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">either one of a class or series or by its terms divisible into a class or series of shares,</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">participations, interests or obligations.</td>
<td style="TEXT-ALIGN: left">&#160;</td>
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<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="zebb466fe106d44db9600c2b742e6c079" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond</td>
<td style="FONT-SIZE: 70%" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-5602 (Ed. 10-03)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 1</td>
</tr>
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<td style="WIDTH: 9%"></td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 25.199pt" align="left">bb.</td>
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Withdrawal Order </b><font face="Arial,Arial,Helvetica,sans-serif">means a non-negotiable instrument, other than an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Instruction</b><font face="Arial,Arial,Helvetica,sans-serif">, signed by a</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">customer of the ASSURED authorizing the ASSURED to debit the customer&#8217;s account in the</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">amount of funds stated therein.</td>
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<tr>
<td colspan="2">&#160;</td>
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<tr>
<td colspan="2">&#160;</td>
</tr>

<tr>
<td colspan="2">&#160;</td>
</tr>

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<td colspan="2">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="2">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2017.</td>
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<tr>
<td colspan="2">&#160;&#160;&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="2">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.</td>
</tr>
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<p style="MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Date: November 1, 2017</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left"><img src="image00002.jpg"></p>

<p style="TEXT-ALIGN: center"></p>

<div style="TEXT-ALIGN: left">
<table id="z7e447646680243cba7047637f8f14341" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond</td>
<td style="FONT-SIZE: 70%" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-5602 (Ed. 10-03)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 2</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="TEXT-INDENT: 169.22pt" colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">FEDERAL INSURANCE COMPANY</b></td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 169.22pt" colspan="2" align="left">Endorsement No.: 6 Bond</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 169.22pt" colspan="2" align="left">Bond Number: 81951478</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center" colspan="7">NAME OF ASSURED: MACQUARIE MANAGEMENT HOLDING COMPANY&#160;</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center" colspan="7">&#160;</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center" colspan="7">&#160;<b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">EXTENDED COMPUTER SYSTEMS ENDORSEMENT</b></td>
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<tr>
<td colspan="7">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="6" align="left">It is agreed that this Bond is amended as follows:</td>
<td align="left">&#160;</td>
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<tr>
<td colspan="7">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">By adding the following INSURING CLAUSE:</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">16. Extended Computer Systems</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 25.195pt" align="left">A.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">Electronic Data, Electronic Media, Electronic Instruction</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">Loss resulting directly from:</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">the fraudulent modification of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Data, Electronic Media </b><font face="Arial,Arial,Helvetica,sans-serif">or </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic</b></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Instruction </b><font face="Arial,Arial,Helvetica,sans-serif">being stored within or being run within any system covered under this</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">INSURING CLAUSE,</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">robbery, burglary, larceny or theft of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Data, Electronic Media </b><font face="Arial,Arial,Helvetica,sans-serif">or</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Instructions</b><font face="Arial,Arial,Helvetica,sans-serif">,</font></td>
<td align="left">&#160;</td>
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<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(3</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">the acts of a hacker causing damage or destruction of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Data, Electronic</b></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">ASSURED is legally liable, while stored within a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Computer System </b><font face="Arial,Arial,Helvetica,sans-serif">covered under</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">this INSURING CLAUSE, or</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(4</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">the damage or destruction of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Data, Electronic Media </b><font face="Arial,Arial,Helvetica,sans-serif">or </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic</b></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">while stored within a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Computer System </b><font face="Arial,Arial,Helvetica,sans-serif">covered under INSURING CLAUSE 16,</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">provided such damage or destruction was caused by a computer program or</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">similar instruction which was written or altered to intentionally incorporate a hidden</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">instruction designed to damage or destroy </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Data, Electronic Media</b><font face="Arial,Arial,Helvetica,sans-serif">, or</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Instruction </b><font face="Arial,Arial,Helvetica,sans-serif">in the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Computer System </b><font face="Arial,Arial,Helvetica,sans-serif">in which the computer program</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">or instruction so written or so altered is used.</td>
<td align="left">&#160;</td>
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<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="z50a01fe3cea84ae291dbe8af82e85d1b" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP2 Bond</td>
<td style="FONT-SIZE: 70%" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-2976 (Ed. 1-02)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 1</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">B.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Electronic Communication</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Loss resulting directly from the ASSURED having transferred, paid or delivered any</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">funds or property, established any credit, debited any account or given any value on the</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">faith of any electronic communications directed to the ASSURED, which were</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">transmitted or appear to have been transmitted through:</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">(1)</td>
<td align="left"><font face="Arial,Arial,Helvetica,sans-serif">an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Communication System</b><font face="Arial,Arial,Helvetica,sans-serif">,</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">(2)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">an automated clearing house or custodian, or</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">(3)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a Telex, TWX, or similar means of communication,</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">directly into the ASSURED'S </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Computer System </b><font face="Arial,Arial,Helvetica,sans-serif">or </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Communication Terminal</b><font face="Arial,Arial,Helvetica,sans-serif">, and</font></td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">fraudulently purport to have been sent by a customer, automated clearing house,</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">custodian, or financial institution, but which communications were either not sent by said</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">customer, automated clearing house, custodian, or financial institution, or were</td>
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<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">fraudulently modified during physical transit of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Media </b><font face="Arial,Arial,Helvetica,sans-serif">to the ASSURED or</font></td>
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<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">during electronic transmission to the ASSURED'S </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Computer System </b><font face="Arial,Arial,Helvetica,sans-serif">or</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Communication Terminal</b><font face="Arial,Arial,Helvetica,sans-serif">.</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td colspan="2" align="left">&#160;</td>
</tr>

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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">C.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Electronic Transmission</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Loss resulting directly from a customer of the ASSURED, any automated clearing house,</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">custodian, or financial institution having transferred, paid or delivered any funds or property,</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">established any credit, debited any account or given any value on the faith of any electronic</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">communications, purporting to have been directed by the ASSURED to such customer,</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">automated clearing house, custodian, or financial institution initiating, authorizing, or</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">acknowledging, the transfer, payment, delivery or receipt of funds or property, which</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">communications were transmitted through:</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">(1)</td>
<td align="left"><font face="Arial,Arial,Helvetica,sans-serif">an </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Communication System</b><font face="Arial,Arial,Helvetica,sans-serif">,</font></td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">(2)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">an automated clearing house or custodian, or</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">(3)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a Telex, TWX, or similar means of communication,</td>
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<tr>
<td colspan="3">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">directly into a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Computer System </b><font face="Arial,Arial,Helvetica,sans-serif">or </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Communication Terminal </b><font face="Arial,Arial,Helvetica,sans-serif">of said customer,</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">automated clearing house, custodian, or financial institution, and fraudulently purport to</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">have been directed by the ASSURED, but which communications were either not sent by</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">the ASSURED, or were fraudulently modified during physical transit of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Media</b></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">from the ASSURED or during electronic transmission from the ASSURED'S </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Computer</b></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">System </b><font face="Arial,Arial,Helvetica,sans-serif">or </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Communication Terminal</b><font face="Arial,Arial,Helvetica,sans-serif">, and for which loss the ASSURED is held to be</font></td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">legally liable.</td>
</tr>
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<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="zef0700b88be84952bb3111adea12d1b1" cellspacing="0" border="0">
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP2 Bond</td>
<td style="FONT-SIZE: 70%" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-2976 (Ed. 1-02)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 2</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">By adding to Section 1., Definitions, the following:</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">cc.</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Communication Terminal </b><font face="Arial,Arial,Helvetica,sans-serif">means a teletype, teleprinter or video display terminal, or similar</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">device capable of sending or receiving information electronically. </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Communication Terminal</b></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">does not mean a telephone.</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">dd.</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Communication System </b><font face="Arial,Arial,Helvetica,sans-serif">means electronic communication operations by Fedwire,</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Clearing House Interbank Payment System (CHIPS), Society of Worldwide International</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Financial Telecommunication (SWIFT), similar automated interbank communication systems,</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">and Internet access facilities.</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ee.</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Data </b><font face="Arial,Arial,Helvetica,sans-serif">means facts or information converted to a form usable in </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Computer</b></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td colspan="2" align="left"><strong style="FONT-FAMILY: Arial">Systems </strong><font style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif">and which is stored on </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Media </b><font style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif">for use by computer programs.</font></td>
</tr>

<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="center"></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ff.</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Instruction </b><font face="Arial,Arial,Helvetica,sans-serif">means computer programs converted to a form usable in a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Computer</b></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">System </b><font face="Arial,Arial,Helvetica,sans-serif">to act upon </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Data</b><font face="Arial,Arial,Helvetica,sans-serif">.</font></td>
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<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">gg.</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Media </b><font face="Arial,Arial,Helvetica,sans-serif">means the magnetic tape, magnetic disk, optical disk, or any other bulk</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">3</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">By adding the following Section after Section 4., Specific Exclusions-Applicable to All INSURING</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">CLAUSES except 1., 4., and 5.:</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">Section 4.A. Specific Exclusions-Applicable to INSURING CLAUSE 16</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left">&#160;</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">e.</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td colspan="5">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr>
<td colspan="5">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr>
<td style="TEXT-ALIGN: left" colspan="5">&#160;</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">(2)</td>
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP2 Bond</td>
<td style="FONT-SIZE: 70%" align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-2976 (Ed. 1-02)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 3</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">4</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">By adding to Section 9., Valuation, the following:</td>
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<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left"><font face="Arial,Arial,Helvetica,sans-serif">In case of loss of, or damage to, </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Data, Electronic Media </b><font face="Arial,Arial,Helvetica,sans-serif">or </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Electronic Instruction </b><font face="Arial,Arial,Helvetica,sans-serif">used</font></td>
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<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">applicable SINGLE LOSS LIMIT OF LIABILITY.</td>
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<tr style="HEIGHT: 23px" valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">SECURITIES and OTHER PROPERTY paragraphs of this Section.</td>
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<tr>
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</tr>

<tr>
<td colspan="3">&#160;&#160;</td>
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<tr>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="3">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2017.</td>
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<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, 'sans-serif'; TEXT-ALIGN: center" colspan="3">&#160;ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.</td>
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<p style="MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Date: November 1, 2017</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left"><img src="image00002.jpg"></p>

<p style="TEXT-ALIGN: center"><br>
</p>

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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP2 Bond</td>
<td style="FONT-SIZE: 70%" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-2976 (Ed. 1-02)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 4</td>
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<td style="TEXT-ALIGN: right; TEXT-INDENT: 270.046pt" colspan="2"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">FEDERAL INSURANCE COMPANY</b></td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right; TEXT-INDENT: 270.046pt" colspan="2">Endorsement No.: 7&#160; Bond</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right; TEXT-INDENT: 270.046pt" colspan="2">Bond Number: 81951478</td>
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<td colspan="2" align="center">&#160;</td>
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<td colspan="2" align="center"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">NON-CUMULATIVE ENDORSEMENT</b></td>
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<td colspan="2" align="center">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">It is agreed that in the event of a loss covered under this Bond and also covered under FEDERAL</td>
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<tr style="HEIGHT: 0px" valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">INSURANCE COMPANY'S bond No. 81951477 issued to DELAWARE MANAGEMENT HOLDINGS, INC.,</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">the SINGLE LOSS LIMIT OF LIABILITY under this Bond shall be reduced by any payment under bond No.</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">81951477 and only the remainder, if any, shall be applicable to such loss hereunder.</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 180.026pt" colspan="2" align="left">MACQUARIE MANAGEMENT HOLDING COMPANY</td>
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<tr>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-INDENT: 180.026pt" align="left">PHILADELPHIA, PA 19103</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
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<tr>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-INDENT: 180.026pt" align="left">Position/Title</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 180.026pt" align="left">Date</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 180.026pt" align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="2">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2017.</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right" colspan="2">&#160;</td>
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<tr valign="bottom">
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<p style="MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Date: November 1, 2017</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left"><img src="image00002.jpg"><br>
</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">ICAP Bond</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Form 17-02-0955 (Rev. 1-97)</p>
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<tr valign="bottom">
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
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<tr style="HEIGHT: 7px" valign="bottom">
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
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<tr style="HEIGHT: 7px" valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 201.65pt" colspan="3" align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center" colspan="6">NAME OF ASSURED: MACQUARIE MANAGEMENT HOLDING COMPANY&#160;&#160;</td>
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<tr>
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<tr>
<td style="TEXT-ALIGN: center" colspan="6">&#160;<strong style="FONT-FAMILY: Arial">AMEND DISCOVERY ENDORSEMENT</strong></td>
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<tr>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="right">It is agreed that this Bond is amended by deleting Section 6., Discovery, in its entirety and substituting the</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">following:&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">6</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">Discovery</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
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<td align="left">&#160;</td>
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<tr valign="bottom">
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<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">facts which may subsequently result in a loss of a type covered by this Bond, or</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">an actual or potential claim in which it is alleged that the ASSURED is liable to a third party,</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
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<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
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<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
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<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;&#160;</td>
<td align="left">&#160;&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left"></td>
<td align="left">&#160;&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left"></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr>
<td colspan="6">&#160;&#160;</td>
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<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="5">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2017.</td>
<td align="left">&#160;</td>
</tr>

<tr>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="6">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.&#160;</td>
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</div>

<p style="MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Date: November 1, 2017</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left"><img src="image00002.jpg"><br>
</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">ICAP Bond</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Form 17-02-6260 (Ed. 6-04)</p>
</div>

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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="TEXT-ALIGN: right; TEXT-INDENT: 185.45pt" colspan="3"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">FEDERAL INSURANCE COMPANY</b>&#160;</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right; TEXT-INDENT: 185.45pt" colspan="3">Endorsement No.: 9 Bond</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
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<tr>
<td colspan="7">&#160;</td>
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<tr>
<td colspan="7">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center" colspan="7">NAME OF ASSURED: MACQUARIE MANAGEMENT HOLDING COMPANY&#160;&#160;</td>
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<tr valign="bottom">
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<tr valign="bottom">
<td colspan="7" align="center"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">CLAIMS EXPENSE ENDORSEMENT</b></td>
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<tr valign="bottom">
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">It is agreed that this Bond is amended as follows:</td>
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<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="5" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">1</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">By adding the following INSURING CLAUSE:</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">17. Claims Expense</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">Reasonable expense incurred by the ASSURED, solely for independent firms or individuals to</td>
<td style="TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left; TEXT-INDENT: 0px" colspan="3">determine the amount of loss where:</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 25.195pt" colspan="3" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">the loss is covered under the Bond, and</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">the loss is in excess of the applicable DEDUCTIBLE AMOUNT.</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">covered under this INSURING CLAUSE.</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr>
<td colspan="7">&#160;</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="6">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2017.</td>
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</tr>

<tr>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="6">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.</td>
<td align="left">&#160;</td>
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</div>

<p style="MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Date: November 1, 2017</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left"><img src="image00002.jpg"><br>
</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">ICAP Bond</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Form 17-02-6282 (Ed. 11-04)</p>
</div>

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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="right"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">FEDERAL INSURANCE COMPANY</b></td>
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<tr>
<td colspan="7">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right; TEXT-INDENT: 13.679pt" colspan="3">Endorsement No. 10 Bond&#160;</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="right">Bond Number: 81951478&#160;</td>
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<tr>
<td colspan="7">&#160;</td>
</tr>

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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid" colspan="5" align="right">NAME OF ASSURED: MACQUARIE MANAGEMENT HOLDING COMPANY</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
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<tr>
<td colspan="7">&#160;&#160;&#160;</td>
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<td colspan="7" align="center"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">REVISE ITEM 2. ENDORSEMENT</b></td>
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<tr>
<td colspan="7">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="7">It is agreed that this Bond is amended by deleting ITEM 2. in its entirety on the DECLARATIONS and</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left; TEXT-INDENT: 0px" colspan="3">substituting the following:</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

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<td style="TEXT-INDENT: 4.559pt" colspan="3" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">ITEM 2. </b><font face="Arial,Arial,Helvetica,sans-serif">LIMITS OF LIABILITY-DEDUCTIBLE AMOUNTS:</font></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr style="HEIGHT: 12px" valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="7">If "Not Covered" is inserted below opposite any specified INSURING CLAUSE, such INSURING CLAUSE</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left" colspan="7"><font face="Arial,Arial,Helvetica,sans-serif">and any other reference to such INSURING CLAUSE in this Bond shall be deemed to be deleted. </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">There</b></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left" colspan="7"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">shall be no deductible applicable to any loss under INSURING CLAUSE 1 sustained by any</b></td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: 0px" colspan="3"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Company</b><font face="Arial,Arial,Helvetica,sans-serif">.</font></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">SINGLE LOSS</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 27pt" colspan="2" align="left">DEDUCTIBLE</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-INDENT: 4.559pt" colspan="3" align="left">INSURING CLAUSE</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid" colspan="2" align="left">LIMIT OF LIABILITY</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-INDENT: 27pt" colspan="2" align="left">AMOUNT</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 1.801pt" align="left">Employee</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">40,000,000</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 27pt" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">0</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 1.801pt" align="left">On Premises</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">40,000,000</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 27pt" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">50,000</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">3</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 1.798pt" align="left">In Transit</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">40,000,000</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 27pt" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">50,000</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">4</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 1.801pt" align="left">Forgery or Alteration</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">40,000,000</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 27pt" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">50,000</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">5</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 1.801pt" align="left">Extended Forgery</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">40,000,000</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 27pt" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">50,000</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">6</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 1.801pt" align="left">Counterfeit Money</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">40,000,000</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 27pt" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">50,000</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">7</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 1.801pt" align="left">Threats to Person</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">40,000,000</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 27pt" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">50,000</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">8</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 1.801pt" align="left">Computer System</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">40,000,000</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 27pt" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">50,000</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">9</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 2.045pt" align="left">Voice Initiated Funds Transfer Instruction</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">40,000,000</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 27pt" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">50,000</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">10</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 2.645pt" align="left">Uncollectible Items of Deposit</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">50,000</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 27pt" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">10,000</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">11</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 2.645pt" align="left">Audit Expense</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">100,000</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 27pt" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">0</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">12</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Telefacsimile Instruction Fraud</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">40,000,000</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 27pt" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">50,000</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">13</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 0.627pt" align="left">Automated Telephone Transaction</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">40,000,000</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 27pt" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">50,000</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">14</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 0.627pt" align="left">Stop Payment Order or Refusal to Pay Check</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">40,000,000</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 27pt" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">50,000</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">15</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 0.627pt" align="left">Unauthorized Signature</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">50,000</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 27pt" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">10,000</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">16</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 0.627pt" align="left">Extended Computer Systems</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">40,000,000</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 27pt" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">50,000</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">17</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 0.627pt" align="left">Claims Expense</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">100,000</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 27pt" align="left">$</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">0</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr style="HEIGHT: 23px">
<td colspan="7">&#160;</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="7">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2017.&#160;&#160;</td>
</tr>

<tr>
<td colspan="7">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="7">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.&#160;&#160;</td>
</tr>
</table>
</div>

<p style="MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Date: November 1, 2017</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left"><img src="image00002.jpg"></p>
</div>

<div style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<div style="TEXT-ALIGN: left">
<table id="za2b850199e0b42628b9e522100c22592" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Authorized Representative</td>
</tr>
</table>
</div>

<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond</td>
<td style="FONT-SIZE: 70%" align="left">&#160;</td>
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-1582 (Ed. 5-98)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 2</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="TEXT-ALIGN: right; TEXT-INDENT: 204.89pt" colspan="2"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">FEDERAL INSURANCE COMPANY</b></td>
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<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right; TEXT-INDENT: 204.89pt" colspan="2">Endorsement No.: 11 Bond</td>
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<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center" colspan="5">NAME OF ASSURED: MACQUARIE MANAGEMENT HOLDING COMPANY</td>
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<td colspan="5" align="center">&#160;</td>
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<td colspan="5" align="center"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">AMENDING DEFINITION OF EMPLOYEE-FORMER EMPLOYEES ENDORSEMENT</b></td>
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<td style="TEXT-ALIGN: center" colspan="5"><font face="Arial,Arial,Helvetica,sans-serif">It is agreed that this Bond is amended by adding to the definition of </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">in Section 1., Definitions, the</font></td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="5">following:&#160;&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(10</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">a natural person who resigns, retires or is terminated from the service of the ASSURED during the</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
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<td align="left">&#160;</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">&#160;</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">for a period of ninety (90) days subsequent to such resignation, retirement or termination but</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left; TEXT-INDENT: 0px" colspan="2">not beyond the date of expiration or termination of the Bond; and</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left; TEXT-INDENT: 0px" colspan="2">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">b.</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">discovery by the ASSURED of any actual or alleged dishonest, fraudulent or criminal act(s) of</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left; TEXT-INDENT: 0px">such person.</td>
<td style="TEXT-ALIGN: left">&#160;</td>
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<td colspan="5">&#160;</td>
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<td colspan="5">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="5">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2017.</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="5">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.</td>
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<p style="MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Date: November 1, 2017</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left"><img src="image00002.jpg"><br>
</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">ICAP Bond</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Form 17-02-2335 (Ed. 10-00)</p>
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<td style="TEXT-ALIGN: right; TEXT-INDENT: 147.149pt"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">ENDORSEMENT/RIDER</b></td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Effective date of</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">this endorsement/rider: October 31, 2017</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right">FEDERAL INSURANCE COMPANY</td>
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<td style="TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right">Endorsement/Rider No. 12</td>
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<td style="TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right">To be attached to and</td>
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<td style="TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right">form a part of Policy No. 81951478</td>
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<td style="TEXT-ALIGN: center" colspan="2">&#160;</td>
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<td style="TEXT-ALIGN: center" colspan="2">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center" colspan="2">Issued to: MACQUARIE MANAGEMENT HOLDING COMPANY</td>
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<td style="TEXT-ALIGN: left" colspan="2">&#160;</td>
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<td style="TEXT-ALIGN: center" colspan="2"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">COMPLIANCE WITH APPLICABLE TRADE SANCTION LAWS</b></td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left" colspan="2">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">It is agreed that this insurance does not apply to the extent that trade or economic sanctions or other similar laws or</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">regulations prohibit the coverage provided by this insurance.</td>
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<tr>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms and</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">conditions of coverage.</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="2">All other terms, conditions and limitations of this Policy shall remain unchanged.</td>
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<p style="MARGIN: 0px">&#160;</p>

<p style="TEXT-ALIGN: center"></p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left"><img src="image00002.jpg"></p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">14-02-9228 (2/2010)</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Page 1</p>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="right"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">ENDORSEMENT/RIDER</b>&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">Effective date of</td>
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<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">this endorsement/rider: October 31, 2017</td>
<td style="TEXT-ALIGN: right; TEXT-INDENT: 38.179pt" colspan="3"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">FEDERAL INSURANCE COMPANY</b>&#160;</td>
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<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right; TEXT-INDENT: 38.179pt" colspan="3">Endorsement/Rider No. 13 Bond</td>
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<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right; TEXT-INDENT: 38.179pt" colspan="3">To be attached to and&#160;&#160;</td>
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<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: right; TEXT-INDENT: 38.179pt" colspan="3">form a part of Bond No. 81951478&#160;</td>
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<tr>
<td colspan="6">&#160;</td>
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<tr>
<td colspan="6">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center" colspan="5">Issued to: MACQUARIE MANAGEMENT HOLDING COMPANY&#160;</td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 0.96pt" colspan="3" align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 0.96pt" colspan="3" align="left">DELETING VALUATION-OTHER PROPERTY AND AMENDING CHANGE OR MODIFICATION</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="6" align="center">ENDORSEMENT</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="6" align="center">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="5">In consideration of the premium charged, it is agreed that this Bond is amended as follows:</td>
<td style="TEXT-ALIGN: center">&#160;</td>
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<tr style="HEIGHT: 18px" valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="5">&#160;</td>
<td style="TEXT-ALIGN: center">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">1</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">The paragraph titled Other Property in Section 9, Valuation, is deleted in its entirety.</td>
<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">&#160;</td>
<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">The third paragraph in Section 16, Change or Modification, is deleted in its entirety and replaced with</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">the following:</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">If this Bond is for a joint ASSURED, no change or modification which would adversely affect the</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">rights of the ASSURED shall be effective prior to sixty (60) days after written notice has been</td>
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<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">furnished to all insured </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Investment Companies </b><font face="Arial,Arial,Helvetica,sans-serif">and the Securities and Exchange Commission,</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Washington, D.C., by the COMPANY.</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td colspan="6">&#160;</td>
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<tr>
<td colspan="6">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="5">The title and any headings in this endorsement/rider are solely for convenience and form no part of the</td>
<td style="TEXT-ALIGN: left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="3">terms and conditions of coverage.</td>
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<tr valign="bottom">
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="6">All other terms, conditions and limitations of this Bond shall remain unchanged.&#160;&#160;</td>
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<p style="MARGIN: 0px">&#160;</p>

<p style="TEXT-ALIGN: center"></p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left"><img src="image00002.jpg"></p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">17-02-2437 (12/2006) rev.</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Page 1</p>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">this endorsement/rider: October 31, 2017</td>
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<td style="TEXT-ALIGN: right">&#160;</td>
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<td style="TEXT-ALIGN: right">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td colspan="4" align="center"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">AMENDED NOTICE ENDORSEMENT</b></td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">It is agreed Section 7., Notice to Company-Proof-Legal Proceedings Against Company, is amended by deleting in</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">its entirety paragraph a. and substituting the following:</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">a.</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;&#160;</td>
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<tr valign="bottom">
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<tr>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">and conditions of coverage.</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="4">All other terms, conditions and limitations of this Bond shall remain unchanged.</td>
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<p style="MARGIN: 0px">&#160;</p>

<img src="image00002.jpg">

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">14-02-12867 (02/2007)</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Page 1</p>
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<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">this endorsement/rider: October 31, 2017</td>
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<tr valign="bottom">
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">form a part of Bond No. 81951478</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center" colspan="4">Issued to: MACQUARIE MANAGEMENT HOLDING COMPANY&#160;</td>
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<tr>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="center">AUTOMATIC INCREASE IN LIMITS ENDORSEMENT</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="center">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">In consideration of the premium charged, it is agreed that GENERAL AGREEMENTS, Section C. Additional</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">Offices Or Employees-Consolidation, Merger Or Purchase Or Acquisition Of Assets Or Liabilities-Notice To</td>
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<tr valign="bottom">
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">Automatic Increase in Limits for Investment Companies</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">&#160;</td>
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<tr valign="bottom">
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<tr valign="bottom">
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">and conditions of coverage.</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center" colspan="4">All other terms, conditions and limitations of this Bond shall remain unchanged.</td>
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<p style="MARGIN: 0px">&#160;</p>

<p style="TEXT-ALIGN: center"></p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left"><img src="image00002.jpg"></p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">14-02-14098 (04/2008)</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Page 1</p>
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<tr>
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<tr>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="5">It is agreed that this Bond is amended by deleting in its entirety General Agreement C., Additional Offices</td>
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<tr valign="bottom">
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<tr valign="bottom">
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<tr valign="bottom">
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">C.</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
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<tr valign="bottom">
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<tr valign="bottom">
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(2</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">been caused or will be caused by an employee, or</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">(3</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">)</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">arisen or will arise out of the assets or liabilities,</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">of such institution, unless the ASSURED:</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left"></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">a.</td>
<td align="left">&#160;</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">acquisition of assets or liabilities prior to the proposed effective date of such action, and</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">c.</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">Notwithstanding anything stated above to the contrary, the COMPANY hereby agrees to provide</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">coverage which shall be effective on the date of acquisition under this Bond for those acquired</td>
<td style="TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">institutions in which the ASSURED owns greater than fifty percent (50%) of the voting stock or voting</td>
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</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">rights either directly or through one or more of its subsidiaries for the remainder of the BOND</td>
<td style="TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="4">PERIOD, with no additional premium, provided the acquired institution meets all of the following</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">conditions:</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">i.</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">the assets shall not exceed twenty five percent (25</font><font face="Arial,Arial,Helvetica,sans-serif">%) of the ASSURED&#8217;S assets,</font></td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">ii.</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">there shall be neither any paid nor pending Bond claim for the three (3) year period prior to the</td>
<td style="TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">date of acquisition, and</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">iii.</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">the ASSURED is not aware of any disciplinary action or proceeding by State or Federal</td>
<td style="TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">officials involving the acquired institution as of the date of acquisition.</td>
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<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
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<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond</td>
<td style="FONT-SIZE: 70%" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-6247 (Ed. 3-04)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 1</td>
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<div style="TEXT-ALIGN: left">
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 25.199pt" align="left">The COMPANY further agrees that as respects any acquisition that involves a State or Federal</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 25.199pt" align="left">regulatory assisted acquisition or assumption of assets and/or liabilities, coverage shall be provided</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 25.199pt" align="left">under this Bond for the remainder of the BOND PERIOD as long as conditions i. and ii. above are</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 25.199pt" align="left">met. As respects such acquisition or assumption of assets and/or liabilities, coverage applies only to</td>
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<td style="TEXT-INDENT: 25.199pt" align="left"><font face="Arial,Arial,Helvetica,sans-serif">a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Single Loss </b><font face="Arial,Arial,Helvetica,sans-serif">fully sustained by the ASSURED on or after the date of such acquisition or</font></td>
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<tr valign="bottom">
<td style="TEXT-INDENT: 25.199pt" align="left"><font face="Arial,Arial,Helvetica,sans-serif">assumption. All of the circumstances, conditions or acts causing or contributing to a </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Single Loss</b></td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 25.199pt" align="left">must occur on or after the date of such acquisition or assumption for coverage to apply regardless of</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 25.199pt" align="left">the time such loss is discovered by the ASSURED.</td>
</tr>

<tr>
<td>&#160;</td>
</tr>

<tr>
<td>&#160;</td>
</tr>

<tr>
<td>&#160;</td>
</tr>

<tr>
<td>&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2017.</td>
</tr>

<tr>
<td>&#160;&#160;&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: center">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.</td>
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<p style="MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Date: November 1, 2017</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left"><img src="image00002.jpg"></p>

<p style="TEXT-ALIGN: center"><br>
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<div style="TEXT-ALIGN: left">
<table id="zd9b6ccd84cee4bd9b10f746f1b53c5d8" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond</td>
<td style="FONT-SIZE: 70%" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-6247 (Ed. 3-04)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 2</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="TEXT-INDENT: 201.65pt" colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">FEDERAL INSURANCE COMPANY</b></td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 201.65pt" colspan="3" align="left">Endorsement No.: 17 Bond</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 201.65pt" colspan="2" align="left">Bond Number: 81951478</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center" colspan="6">NAME OF ASSURED: MACQUARIE MANAGEMENT HOLDING COMPANY&#160;&#160;</td>
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<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td colspan="6" align="center"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">CO-SURETY ENDORSEMENT</b></td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="4" align="left">It is agreed that this Bond is amended as follows:</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">1</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">By adding to Section 1., Definitions, the following:</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left"><font face="Arial,Arial,Helvetica,sans-serif">&#8220;</font><font face="Arial,Arial,Helvetica,sans-serif">hh.</font></td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ii.</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Controlling Company</b><font face="Arial,Arial,Helvetica,sans-serif">, executing this Endorsement.</font></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">jj.</td>
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<td style="TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Controlling Company</b><font face="Arial,Arial,Helvetica,sans-serif">, executing this Endorsement.&#8221;</font></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">2</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">By adding to Section 5., Limit of Liability/Non-Reduction and Non-Accumulation of Liability, the</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">following:</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">&#8220;Each COMPANY shall be liable only for such proportion of any </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Single Loss </b><font face="Arial,Arial,Helvetica,sans-serif">as the LIMIT OF</font></td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">LIABILITY underwritten by such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company</b><font face="Arial,Arial,Helvetica,sans-serif">, as specified in this Endorsement, bears to the LIMIT OF</font></td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">LIABILITY as stated in ITEM 2. of the DECLARATIONS, but in no event shall any </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company </b><font face="Arial,Arial,Helvetica,sans-serif">be liable</font></td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><font face="Arial,Arial,Helvetica,sans-serif">for an amount greater than that underwritte</font><font face="Arial,Arial,Helvetica,sans-serif">n by it.&#8221;</font></td>
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<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">3</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">By adding to Section 7., Notice To Company-Proof-Legal Proceedings Against Company, the following:</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left"><font face="Arial,Arial,Helvetica,sans-serif">&#8220;</font><font face="Arial,Arial,Helvetica,sans-serif">g.</font></td>
<td style="TEXT-ALIGN: left" colspan="2"><font face="Arial,Arial,Helvetica,sans-serif">In the absence of a request from any </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company </b><font face="Arial,Arial,Helvetica,sans-serif">to pay premiums directly to it, premiums for this</font></td>
<td style="TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="2"><font face="Arial,Arial,Helvetica,sans-serif">Bond may be paid to the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Controlling Company </b><font face="Arial,Arial,Helvetica,sans-serif">for the account of all </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Companies</b><font face="Arial,Arial,Helvetica,sans-serif">.</font></td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">h.</td>
<td style="TEXT-ALIGN: left" colspan="2"><font face="Arial,Arial,Helvetica,sans-serif">In the absence of a request from any </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company </b><font face="Arial,Arial,Helvetica,sans-serif">that notice of claim and proof of loss be given to</font></td>
<td style="TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">or filed directly with it, the ASSURED giving such notice to and the filing of such proof with the</td>
<td style="TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left" colspan="2"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Controlling Company </b><font face="Arial,Arial,Helvetica,sans-serif">shall be deemed to be in compliance with the conditions of this Bond for</font></td>
<td style="TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left" colspan="2">the giving of notice of loss and the filing of proof of loss, if given and filed in accordance with said</td>
<td style="TEXT-ALIGN: left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="TEXT-ALIGN: left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">conditions.&#8221;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">4</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">By adding to Section 13., Termination, the following:</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr style="HEIGHT: 18px" valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">&#8220;The </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Controlling Company </b><font face="Arial,Arial,Helvetica,sans-serif">may give notice in accordance with the terms of this Bond terminating the</font></td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">Bond as an entirety or as to any </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">or ASSURED, and any notice so given shall terminate the</font></td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">liability of all </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Companies </b><font face="Arial,Arial,Helvetica,sans-serif">as an entirety or as to such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Employee </b><font face="Arial,Arial,Helvetica,sans-serif">or ASSURED, as the case may be.</font></td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">Any Company other than the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Controlling Company </b><font face="Arial,Arial,Helvetica,sans-serif">may give notice in accordance with the terms of</font></td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">this Bond, terminating the entire liability of such other </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company </b><font face="Arial,Arial,Helvetica,sans-serif">under this Bond or as to any person or</font></td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">entity.</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="6">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">In the absence of a request from any </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company </b><font face="Arial,Arial,Helvetica,sans-serif">that notice of termination by the ASSURED of this</font></td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">Bond in its entirety may be given to or filed directly with it, the giving of such notice in accordance with</td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">the terms of this Bond to the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Controlling Company </b><font face="Arial,Arial,Helvetica,sans-serif">shall terminate the liability of all </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Companies </b><font face="Arial,Arial,Helvetica,sans-serif">as an</font></td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">entirety. The ASSURED may terminate the entire liability of any </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company</b><font face="Arial,Arial,Helvetica,sans-serif">, under this Bond by giving</font></td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">notice of such termination to that </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company </b><font face="Arial,Arial,Helvetica,sans-serif">and by sending a copy of such notice to the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Controlling</b></td>
<td align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="2" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company</b><font face="Arial,Arial,Helvetica,sans-serif">.</font></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
</tr>
</table>
</div>

<p style="MARGIN: 0px">&#160;</p>

<div style="TEXT-ALIGN: left">
<table id="z630aed8680c4497987a74fed47763923" cellspacing="0" border="0">
<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BACKGROUND-COLOR: #ffffff" align="left">ICAP Bond</td>
<td style="FONT-SIZE: 70%" align="left">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-2836 (Ed. 5-02)</td>
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Page 1</td>
</tr>
</table>
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<table id="z27b4c25f7aef42c39fe2a340273f65cf" cellspacing="0" border="0">
<tr>
<td style="WIDTH: 3%"></td>
<td style="WIDTH: 3%"></td>
<td style="WIDTH: 14%"></td>
<td style="WIDTH: 27%"></td>
<td style="WIDTH: 51%"></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">In the event of the termination of this Bond as an entirety, no </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company </b><font face="Arial,Arial,Helvetica,sans-serif">shall be liable to the ASSURED</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">for a greater proportion of any return premium due the ASSURED than the LIMIT OF LIABILITY</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">underwritten by that </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company </b><font face="Arial,Arial,Helvetica,sans-serif">bears to the LIMIT OF LIABILITY as stated in ITEM 2. of the</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">DECLARATIONS.</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">In the event of the termination of this Bond as to any </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company</b><font face="Arial,Arial,Helvetica,sans-serif">, such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company </b><font face="Arial,Arial,Helvetica,sans-serif">alone shall be liable to</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">the ASSURED for any return premium due the ASSURED on account of such termination. The</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">termination of the attached Bond as to any </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company </b><font face="Arial,Arial,Helvetica,sans-serif">other than the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Controlling Company </b><font face="Arial,Arial,Helvetica,sans-serif">shall not</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">terminate or otherwise affect the liability of the other </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Companies </b><font face="Arial,Arial,Helvetica,sans-serif">under this Bond.&#8221;</font></td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">5</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">.</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">By adding the following Section:</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left"><font face="Arial,Arial,Helvetica,sans-serif">&#8220;Section </font><font face="Arial,Arial,Helvetica,sans-serif">17.</font></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">Controlling Company</td>
<td align="left">&#160;</td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">The execution by the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Controlling Company </b><font face="Arial,Arial,Helvetica,sans-serif">of the DECLARATIONS, Endorsements 1-16, shall</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">constitute execution by all the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Companies </b><font face="Arial,Arial,Helvetica,sans-serif">signing this Endorsement.</font></td>
</tr>

<tr>
<td colspan="5">&#160;</td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">In the event this Bond is modified during the BOND PERIOD, the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Controlling Company </b><font face="Arial,Arial,Helvetica,sans-serif">shall notify</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Companies </b><font face="Arial,Arial,Helvetica,sans-serif">or their respective representatives, in writing, of such change. Each </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company </b><font face="Arial,Arial,Helvetica,sans-serif">shall</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">be deemed to agree to such modification, unless such </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company </b><font face="Arial,Arial,Helvetica,sans-serif">notifies the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Controlling Company </b><font face="Arial,Arial,Helvetica,sans-serif">or</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><font face="Arial,Arial,Helvetica,sans-serif">the </font><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Controlling Company&#8217;s </b><font face="Arial,Arial,Helvetica,sans-serif">representative in writing, that they do not agree to such modification. If a</font></td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td colspan="3" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">Company </b><font face="Arial,Arial,Helvetica,sans-serif">fails to object to a modification within fifteen (15) days of receipt of notice from the</font></td>
</tr>

<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr>
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<tr>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="right">Manager</td>
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<p style="MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Date: November 1, 2017</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left"><img src="image00002.jpg"></p>

<p style="TEXT-ALIGN: center"><br>
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<div style="TEXT-ALIGN: left">
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Underwritten for a SINGLE LOSS</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">St. Paul Fire &amp; Marine Insurance Company</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">LIMIT OF LIABILITY of $15,000,000</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Part of $40,000,000</td>
<td align="left">&#160;</td>
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<tr>
<td colspan="2">&#160;</td>
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<tr>
<td colspan="2">&#160;</td>
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<td align="left">&#160;</td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">By</td>
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 72.029pt" align="left">Attorney-in-Fact</td>
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<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ICAP Bond</td>
<td style="FONT-SIZE: 70%" align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 70%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">Form 17-02-2836 (Ed. 5-02)</td>
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<td align="left">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ATTN:</td>
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<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="3" align="left">1166 AVE OF AMERICAS 37F</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">NEW YORK, NY 10036</td>
<td align="left">&#160;</td>
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<tr>
<td colspan="3">&#160;</td>
</tr>

<tr>
<td colspan="3">&#160;</td>
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<tr>
<td colspan="3">&#160;</td>
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<tr>
<td colspan="3">&#160;</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: 'Times New Roman', Arial, Helvetica, sans-serif" align="left">MACQUARIE MANAGEMENT HOLDING COMPANY</td>
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<td colspan="2" align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">PRODUCT:</i></b></td>
<td align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">DFIBond</i></b></td>
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<tr valign="bottom">
<td colspan="2" align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">POLICY NO:</i></b></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: 'Times New Roman', Arial, Helvetica, sans-serif" align="left">81951478</td>
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<tr valign="bottom">
<td colspan="2" align="left"><b><i style="FONT-FAMILY: Arial, BoldItalic, Arial, Helvetica, sans-serif">TRANSACTION:</i></b></td>
<td style="FONT-SIZE: 80%; FONT-FAMILY: 'Times New Roman', Arial, Helvetica, sans-serif" align="left">ENDT</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 252.046pt" colspan="3" align="left">Endorsement No.: 18 Bond</td>
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<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 252.046pt" colspan="2" align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
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<tr>
<td colspan="3">&#160;</td>
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<tr valign="bottom">
<td style="TEXT-INDENT: 165.625pt" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">DELETE AN ENDORSEMENT</b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">It is agreed that this Bond is amended by deleting Endorsement Number(s) 1 in it's entirety.</td>
<td align="left">&#160;</td>
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<tr>
<td colspan="3">&#160;</td>
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<tr>
<td colspan="3">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2017.</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.</td>
<td align="left">&#160;</td>
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<p style="MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Date: November 29, 2017</p>

<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left"><img src="image00002.jpg"></p>
</div>

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<tr>
<td colspan="3">&#160;</td>
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<tr>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-INDENT: 252.046pt" colspan="2" align="left">Bond Number: 81951478</td>
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<tr>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center" colspan="3">NAME OF ASSURED: MACQUARIE MANAGEMENT HOLDING COMPANY&#160;&#160;</td>
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<tr>
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<td style="TEXT-INDENT: 146.905pt" align="left"><b style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Bold, Arial, Helvetica, sans-serif">NAME OF ASSURED ENDORSEMENT</b></td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr>
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<tr valign="bottom">
<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" colspan="2" align="left">It is agreed that the NAME OF ASSURED in the DECLARATIONS is amended to read as follows:</td>
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<tr>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Group Adviser Funds</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Group Equity Funds III</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td style="FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; COLOR: #0000ff" align="left">Delaware Group Equity Funds IV</td>
<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
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<td align="left">&#160;</td>
<td align="left">&#160;</td>
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<tr valign="bottom">
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<tr valign="bottom">
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<td align="left">&#160;</td>
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<td align="left">&#160;</td>
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<tr valign="bottom">
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<td colspan="2" align="left"><font color="#0000ff" face="Arial,Arial,Helvetica,sans-serif">&#8220;</font><font color="#0000ff" face="Arial,Arial,Helvetica,sans-serif">and an</font><font color="#0000ff" face="Arial,Arial,Helvetica,sans-serif">y other fund(s) now existing in Delaware Funds by Macquarie&#8221;</font></td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2017.</td>
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<td style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif" align="left">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.</td>
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<p style="FONT-SIZE: 80%; FONT-FAMILY: Arial, Arial, Helvetica, sans-serif; TEXT-ALIGN: left">Date: November 29, 2017</p>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center"><u>JOINT INSURANCE AGREEMENT</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">THIS JOINT INSURANCE AGREEMENT, dated as of October 31, 2017, is by and among the funds comprising the Delaware Funds by Macquarie (listed on Attachment I hereto) (the "Funds").</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center"><u>BACKGROUND</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">THIS AGREEMENT is entered into with the following background:</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">A.&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Section 17(g) of the Investment Company Act of 1940 (the "Act") authorizes the Securities and Exchange Commission ("SEC") to require that the officers and employees of registered management investment companies be bonded against larceny and embezzlement, and the SEC has promulgated Rule 17g-1 requiring such coverage in specified minimum amounts.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">B.&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">The Funds have obtained and maintain the bonds and policies of insurance providing coverage against larceny and embezzlement by their officers and employees set forth in Attachment I hereto (the "Joint Bonds").</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">C.&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">The Board of Trustees/Directors of each Fund, by vote of a majority of its members including a majority of those members of the Board of each Fund who are not "interested persons" as defined by Section 2 (a) (19) of the Act, has given due consideration to all factors relevant to the amount, type, form, coverage and apportionment of recoveries and premiums on the Joint Bonds and has approved the form, term and amount of the Joint Bonds, the portion of the premiums payable by each Fund, and the manner in which recovery on the Joint Bonds ("Joint Bond Proceeds"), if any, shall be shared by and among the parties hereto as hereinafter set forth.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">NOW, THEREFORE, IT IS HEREBY AGREED by and among the parties hereto as follows:</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">1.&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>ALLOCATION OF PROCEEDS</u></font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">a.&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">In the event a single party suffers a loss or losses covered under the Joint Bonds, the party suffering such loss or losses shall be entitled to be indemnified up to the full amount of the Joint Bond Proceeds.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">b.&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">If more than one party is damaged in a single loss for which Joint Bond Proceeds are received, each such party shall receive that portion of the Joint Bond Proceeds which represents the loss sustained by that party, unless the recovery is inadequate to indemnify fully each such party.&#160; If the recovery is inadequate to indemnify fully each such party sustaining a loss, the Joint Bond Proceeds shall be allocated among such parties as follows:</font></div>

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<div style="TEXT-ALIGN: justify; MARGIN-LEFT: 108pt; MARGIN-RIGHT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(1)&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Each party sustaining a loss shall be allocated an amount equal to the lesser of its actual loss or the minimum amount of bond coverage then allocated to such party in accordance with Rule 17g-1.&#160; Any party not fully indemnified for its insurable losses as a result of this allocation is hereafter referred to as an "Unindemnified Party".</font></div>

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<div style="TEXT-ALIGN: justify; MARGIN-LEFT: 108pt; MARGIN-RIGHT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(2)&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">The remaining portion of the Joint Bond Proceeds, if any, shall be allocated to each Unindemnified Party in the same proportion as such party's allocation of minimum bond coverage (in accordance with Rule 17g-1) bears to the aggregate of the minimum bond coverage amounts for all Unindemnified Parties, provided that no party shall receive Joint Bond Proceeds in excess of its actual insurable losses.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">2.&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>ALLOCATION OF PREMIUMS</u></font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">a.&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">The premiums payable with respect to the Joint Bonds shall be allocated to each of the parties hereto on an annual basis (and, in the event any increased or additional premium is required to be paid during the year, as of the date such increased or additional premium is due) in the same proportion as each party's minimum amount of bond coverage as then reflected on Attachment II hereto shall bear to the total of such minimum coverage.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">3.&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>BOND COVERAGE REQUIREMENTS AND CHANGES</u></font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">a.&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Each party hereto has determined that the minimum amount of fidelity bond coverage deemed appropriate to be maintained by it as of the date of this Agreement is as set forth opposite its name in Attachment II hereto.&#160; Each of the Funds represents and warrants to each of the other parties hereto that the minimum amount of coverage required of it under Rule 17g-1(d)(1) as of the date hereof is not more than the amount reflected opposite its name in Attachment II hereto.&#160; Each of the Funds further agrees that it will promptly take such steps as may be necessary, from time to time, to increase its minimum coverage as set forth in Attachment II hereto (and, if necessary, the face amount of the Joint Bonds) so that its minimum coverage as therein set forth shall at no time be less than the minimum coverage required of it under Rule 17g-1(d)(1).</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">b.&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">The parties hereto may, from time to time hereafter, agree to modify Attachment II hereto to reflect changes in allocation of premium and coverage.&#160; All references in this Agreement to "Attachment II" shall be to such Attachment as amended as of the relevant date on which premiums are to be allocated or losses are sustained.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">4.&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>ADDITION OF NEW FUNDS AND OTHER ENTITIES</u></font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The parties to this Agreement contemplate that additional funds or other related entities permitted by Rule 17g-1 ("Additional Entities") may be added to Delaware Funds by</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Macquarie from time to time after the date of this Agreement.&#160; In the event an Additional Entity is organized, such Entity may be included as an additional party to this Agreement if the Board of Trustees/Directors of each of the Funds (including an Additional Fund if it is being added) approve such addition and establish a revised minimum allocation of bond coverage.&#160; The inclusion of an Additional Entity as a party to this Agreement shall be evidenced by such Entity's execution of the Addendum to this Agreement and all references herein to the "Funds" shall include any such Additional Entities.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">5.&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>TERM OF AGREEMENT</u></font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">This Agreement shall apply to the present fidelity bond coverage and any renewals or replacements thereof and shall continue until terminated by any party hereto upon the giving of not less than sixty days written notice to the other parties.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">6.&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>DISPUTES</u></font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Any dispute arising under this Agreement shall be submitted to arbitration in the City of Philadelphia, Pennsylvania under the Rules of the American Arbitration Association, and the decision rendered therein shall be final and binding upon the parties hereto.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">7.&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>GOVERNING LAW</u></font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">This Agreement shall be governed by, and construed in accordance with the laws of the Commonwealth of Pennsylvania, to the extent not inconsistent with applicable provisions of the Act and the rules and regulations promulgated thereunder by the SEC.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">IN WITNESS WHEREOF, the parties hereto, intending to be legally bound hereby, have caused this Agreement to be executed by a duly authorized officer or representative as of the date first written above.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">DELAWARE FUNDS BY MACQUARIE on behalf of those Funds listed</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">on Attachment I</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Shawn Lytle</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">President&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">ATTACHMENT I TO JOINT INSURANCE</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">AGREEMENT DATED AS OF OCTOBER 31, 2017</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">DELAWARE FUNDS BY MACQUARIE</div>
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<div style="MARGIN-BOTTOM: 10pt; TEXT-ALIGN: center">
<table id="zd427ba494ef5440a951903437670d23d" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 60%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="2" border="0">
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<div style="MARGIN-BOTTOM: 5px; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-TOP: 5px">FUND</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Delaware Group&#174; Adviser Funds</div>
</td>
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<tr style="HEIGHT: 20px">
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">&#160; Delaware Diversified Income Fund</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">&#160; Delaware Global Real Estate Opportunities Fund</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">&#160; Delaware U.S. Growth Fund</td>
</tr>

<tr>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="WIDTH: 3.23%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 93.83%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Delaware Group&#174; Cash Reserve</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">&#160; Delaware Investments Ultrashort Fund</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">&#160;&#160;<font style="FONT-STYLE: italic"> (formerly Delaware Cash Reserve&#174; Fund)</font></td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">&#160;&#160;</td>
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<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Delaware Group&#174; Equity Funds I</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware Mid Cap Value Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="WIDTH: 3.23%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 93.83%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Delaware Group&#174; Equity Funds II</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware Value&#174; Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="WIDTH: 3.23%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 93.83%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Delaware Group&#174; Equity Funds IV</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware Healthcare Fund</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware Small Cap Growth Fund</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware Smid Cap Growth Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="WIDTH: 3.23%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 93.83%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Delaware Group&#174; Equity Funds V</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware Small Cap Core Fund</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware Small Cap Value Fund</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware Wealth Builder Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 97.23%; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">(formerly, Delaware Dividend Income Fund)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 97.23%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" colspan="2">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Delaware Group&#174; Foundation Funds</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(Delaware Foundation Funds&#174;)</div>
</td>
</tr>

<tr style="HEIGHT: 17px">
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware Foundation&#174; Conservative Allocation Fund</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware Foundation&#174; Growth Allocation Fund*</div>
</td>
</tr>

<tr>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 97.23%; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">*To be reorganized into Delaware Wealth Builder Fund 4th Quarter 2017.</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware Foundation&#174; Moderate Allocation Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="WIDTH: 3.23%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 93.83%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Delaware Group&#174; Global &amp; International Funds</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware Asia Select Fund*</div>
</td>
</tr>

<tr>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 97.23%; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">*To be liquidated 4th Quarter 2017.</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware Emerging Markets Fund</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware Global Value Fund</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware International Small Cap Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 97.23%; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">(formerly, Delaware Focus Global Growth Fund)</div>
</td>
</tr>

<tr style="HEIGHT: 16px">
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware International Value Equity Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="WIDTH: 3.23%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 93.83%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Delaware Group&#174; Government Fund</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware Emerging Markets Debt Fund</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware Strategic Income Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 97.23%; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">(formerly, Delaware Core Plus Bond Fund)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="WIDTH: 3.23%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 93.83%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Delaware Group&#174; Income Funds</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware Corporate Bond Fund</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;&#160;Delaware Extended Duration Bond Fund</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;&#160;Delaware Floating Rate Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 97.23%; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">(formerly, Delaware Diversified Floating Rate Fund)</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.09%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160; Delaware High-Yield Opportunities Fund</div>
</td>
</tr>
</table>
</div>

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</div>
</div>

<div style="MARGIN-BOTTOM: 10pt; TEXT-ALIGN: center">
<table id="z523e550644f94e0982aa500dcfb12ada" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 60%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="2" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="MARGIN-BOTTOM: 5px; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; MARGIN-TOP: 5px">FUND</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Delaware Group&#174; Limited-Term Government Funds</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware Limited-Term Diversified Income Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 96.44%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" colspan="2">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Delaware Group&#174; State Tax-Free Income Trust</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware Tax-Free Pennsylvania Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 92.88%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Delaware Group&#174; Tax-Free Fund</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;&#160;Delaware Tax-Free USA Fund</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware Tax-Free USA Intermediate Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 92.88%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Delaware Pooled&#174; Trust</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Macquarie Core Plus Bond Portfolio</div>
</td>
</tr>

<tr>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">(formerly, The Core Plus Fixed Income Portfolio)</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Macquarie Emerging Markets Portfolio</div>
</td>
</tr>

<tr style="HEIGHT: 15px">
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">(formerly, The Emerging Markets Portfolio)</div>
</td>
</tr>

<tr style="HEIGHT: 17px">
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Macquarie Emerging Markets Portfolio II</div>
</td>
</tr>

<tr style="HEIGHT: 11px">
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">(formerly, The Emerging Markets Portfolio II)</div>
</td>
</tr>

<tr style="HEIGHT: 17px">
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Macquarie High Yield Bond Portfolio</div>
</td>
</tr>

<tr>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">(formerly, The High-Yield Bond Portfolio)</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Macquarie Labor Select International Equity Portfolio</div>
</td>
</tr>

<tr>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">(formerly, The Labor Select International Equity Portfolio)</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Macquarie Large Cap Value Portfolio</div>
</td>
</tr>

<tr>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">(formerly, The Large-Cap Value Equity Portfolio)</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware REIT Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">(formerly known as The Real Estate Investment Trust Portfolio)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 92.88%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Delaware VIP&#174; Trust<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">5</sup></div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware VIP&#174; Diversified Income Series</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware VIP&#174; Emerging Markets Series</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware VIP&#174; High Yield Series</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware VIP&#174; International Value Equity Series</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware VIP&#174; Limited-Term Diversified Income Series</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware VIP&#174; REIT Series</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware VIP&#174; Small Cap Value Series</div>
</td>
</tr>

<tr style="HEIGHT: 9px">
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware VIP&#174; Smid Cap Core Series</div>
</td>
</tr>

<tr>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">(formerly, Delaware VIP&#174; Smid Cap Growth Series)</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;Delaware VIP&#174; U.S. Growth Series</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;Delaware VIP&#174; Value Series</div>
</td>
</tr>

<tr>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 92.88%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Voyageur Insured Funds</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware Tax-Free Arizona Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 92.88%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Voyageur Intermediate Tax Free Funds</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;&#160;Delaware Tax-Free Minnesota Intermediate Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 92.88%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Voyageur Mutual Funds</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware Minnesota High-Yield Municipal Bond Fund</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware National High-Yield Municipal Bond Fund</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware Tax-Free California Fund</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware Tax-Free Idaho Fund</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware Tax-Free New York Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="WIDTH: 3.56%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 92.88%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Voyageur Mutual Funds II</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 3.56%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;&#160;Delaware Tax-Free Colorado Fund</div>
</td>
</tr>
</table>

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<div style="MARGIN-BOTTOM: 10pt; TEXT-ALIGN: center">
<table id="z6eb372d5e29f460c85541a2a2ce0aa49" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 60%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="2" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid" colspan="2">
<div style="MARGIN-BOTTOM: 5px; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-TOP: 5px">FUND</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Voyageur Mutual Funds III</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 6.16%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware Select Growth Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 6.16%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 93.84%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Voyageur Tax Free Funds</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 6.16%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160; Delaware Tax-Free Minnesota Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 6.16%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 93.84%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Delaware Enhanced Global Dividend and Income Fund</div>
</td>
</tr>

<tr>
<td style="WIDTH: 6.16%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 93.84%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Delaware Investments Dividend and Income Fund, Inc.</div>
</td>
</tr>

<tr>
<td style="WIDTH: 6.16%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 93.84%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Delaware Investments Colorado Municipal Income Fund, Inc.</div>
</td>
</tr>

<tr>
<td style="WIDTH: 6.16%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 93.84%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Delaware Investments Minnesota Municipal Income Fund II, Inc.</div>
</td>
</tr>

<tr>
<td style="WIDTH: 6.16%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 93.84%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Delaware Investments National Municipal Income Fund</div>
</td>
</tr>
</table>
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<tr>
<td style="WIDTH: 100%; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">ATTACHMENT II TO JOINT INSURANCE</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">AGREEMENT DATED AS OF OCTOBER 31, 2017</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">DELAWARE FUNDS BY MACQUARIE</div>

&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">FUND</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Minimum Amount of Fidelity Bond Coverage (000's)</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Delaware Group&#174; Adviser Funds</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Diversified Income Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2,500</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Global Real Estate Opportunities Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware U.S. Growth Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr style="HEIGHT: 8px">
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Delaware Group&#174; Cash Reserve</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Investments Ultrashort Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">450</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; FONT-STYLE: italic; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(formerly, Delaware Cash Reserve&#174; Fund)</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Delaware Group&#174; Equity Funds I</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr style="HEIGHT: 18px">
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Mid Cap Value Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">200</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Delaware Group&#174; Equity Funds II</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Value&#174; Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2,500</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Delaware Group&#174; Equity Funds IV</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Healthcare Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">1,250</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Smid Cap Growth Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Small Cap Growth Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Delaware Group&#174; Equity Funds V</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Wealth Builder Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; FONT-STYLE: italic; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(formerly, Delaware Dividend Income Fund)</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Small Cap Core Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2,500</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Small Cap Value Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Delaware Group&#174; Foundation Funds</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Delaware Foundation Funds&#174;)</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Foundation&#174; Conservative Allocation Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">750</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Foundation&#174; Growth Allocation Fund*</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; FONT-STYLE: italic; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">*To be reorganized into Delaware Wealth Builder Fund 4th Quarter 2017.</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Foundation&#174; Moderate Allocation Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Delaware Group&#174; Global &amp; International Funds</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Asia Select Fund*</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">*To be liquidated 4th Quarter 2017.</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Emerging Markets Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Global Value Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware International Small Cap Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2,500</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; FONT-STYLE: italic; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(formerly, Delaware Focus Global Growth Fund)</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware International Value Equity Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Delaware Group&#174; Government Fund</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Emerging Markets Debt Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">525</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware&#160; Strategic Income Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; FONT-STYLE: italic; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(formerly, Delaware Core Plus Bond Fund)</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>
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<div style="MARGIN-BOTTOM: 10pt"><br>
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</div>
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<div style="MARGIN-BOTTOM: 10pt">
<table id="zafcc9fd765a44fa7969385e6010575ea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 60%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="2" border="0">
<tr style="HEIGHT: 9px">
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">FUND</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Minimum Amount of Fidelity Bond Coverage (000's)</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Delaware Group&#174; Income Funds</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Corporate Bond Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">1,700</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Extended Duration Bond Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Floating Rate Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; FONT-STYLE: italic; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(formerly, Delaware Diversified Floating Rate Fund)</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware High-Yield Opportunities Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Delaware Group&#174; Limited-Term Government Funds</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Limited-Term Diversified Income Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">1,000</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Delaware Group&#174; State Tax-Free Income Trust</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Tax-Free Pennsylvania Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">750</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Delaware Group&#174; Tax-Free Fund</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Tax-Free USA Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">1,250</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Tax-Free USA Intermediate Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Delaware Pooled&#174; Trust</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Macquarie Core Plus Bond Portfolio</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">1,250</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; FONT-STYLE: italic; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(formerly, The Core Plus Fixed Income Portfolio)</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Macquarie Emerging Markets Portfolio</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; FONT-STYLE: italic; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(formerly, The Emerging Markets Portfolio)</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Macquarie Emerging Markets Portfolio II</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; FONT-STYLE: italic; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(formerly, The Emerging Markets Portfolio II)</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Macquarie High Yield Bond Portfolio</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; FONT-STYLE: italic; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(formerly, The High-Yield Bond Portfolio)</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Macquarie Labor Select International Equity Portfolio</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; FONT-STYLE: italic; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(formerly, The Labor Select International Equity Portfolio)</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Macquarie Large Cap Value Portfolio</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; FONT-STYLE: italic; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(formerly, The Large-Cap Value Equity Portfolio)</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware REIT Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; FONT-STYLE: italic; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(formerly known as The Real Estate Investment Trust Portfolio)</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Delaware VIP&#174; Trust</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware VIP&#174; Diversified Income Series</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware VIP&#174; Emerging Markets Series</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware VIP&#174; High Yield Series</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware VIP&#174; International Value Equity Series</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2,500</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware VIP&#174; Limited-Term Diversified Income Series</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware VIP&#174; REIT Series</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware VIP&#174; Small Cap Value Series</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware VIP&#174; Smid Cap Core Series</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; FONT-STYLE: italic; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(formerly, Delaware VIP&#174; Smid Cap Growth Series)</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware VIP&#174; U.S. Growth Series</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware VIP&#174; Value Series</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Voyageur Insured Funds</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Tax-Free Arizona Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">450</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Voyageur Intermediate Tax Free Funds</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Delaware Tax-Free Minnesota Intermediate Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">450</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>
</table>

<br>
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<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: normal">2</font></div>

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<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
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<div style="MARGIN-BOTTOM: 10pt"><br>
</div>

<div style="MARGIN-BOTTOM: 10pt">
<table id="zc9d6531d6b2d476581f7f5583d8cf558" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 60%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="2" border="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Voyageur Mutual Funds</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Delaware Minnesota High-Yield Municipal Bond Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Delaware National High-Yield Municipal Bond Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Delaware Tax-Free California Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">1,500</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Delaware Tax-Free Idaho Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Delaware Tax-Free New York Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr style="HEIGHT: 17px">
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Voyageur Mutual Funds II</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Delaware Tax-Free Colorado Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">600</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Voyageur Mutual Funds III</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Delaware Select Growth Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">750</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Voyageur Tax Free Funds</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Delaware Tax-Free Minnesota Fund</div>
</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">900</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Delaware Enhanced Global Dividend and Income Fund</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">600</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Delaware Investments Dividend and Income Fund, Inc.</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">450</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Delaware Investments Colorado Municipal Income Fund, Inc.</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">400</div>
</td>
</tr>

<tr style="HEIGHT: 15px">
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Delaware Investments Minnesota Municipal Income Fund II, Inc.</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">600</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Delaware Investments National Municipal Income Fund</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">400</div>
</td>
</tr>

<tr>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 57.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
<td style="BORDER-RIGHT: #000000 1px solid; WIDTH: 42.27%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; BORDER-LEFT: #000000 1px solid">&#160;</td>
</tr>
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##__9

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