<SEC-DOCUMENT>0001137439-20-000915.txt : 20201113
<SEC-HEADER>0001137439-20-000915.hdr.sgml : 20201113
<ACCEPTANCE-DATETIME>20201113164322
ACCESSION NUMBER:		0001137439-20-000915
CONFORMED SUBMISSION TYPE:	40-17G
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20201113
DATE AS OF CHANGE:		20201113
EFFECTIVENESS DATE:		20201113

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:		201312154

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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 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:		201312131

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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 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:		201312132

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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 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:		201312138

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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 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:		201312140

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18002552139

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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:			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:		201312130

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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 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:		201312139

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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 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:		201312141

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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:		201312153

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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:			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:		201312137

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

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

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:		201312149

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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:			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:		201312133

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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:			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:		201312152

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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:			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:		201312148

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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 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:		201312151

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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 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:		201312134

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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 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:		201312147

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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

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:		201312146

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

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

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:		201312136

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

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

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:		201312145

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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:		201312144

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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 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:		201312143

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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:			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:		201312150

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

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

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:		201312142

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	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 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:		201312135

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET ST
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET ST
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

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:		201312129

	BUSINESS ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354
		BUSINESS PHONE:		18005231918

	MAIL ADDRESS:	
		STREET 1:		100 INDEPENDENCE
		STREET 2:		610 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19106-2354

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Delaware Investments Enhanced Global Dividend & Income Fund
		DATE OF NAME CHANGE:	20070411
</SEC-HEADER>
<DOCUMENT>
<TYPE>40-17G
<SEQUENCE>1
<FILENAME>p81951478_2020.htm
<TEXT>
<html>
  <head>
    <title>p81951478_2020.htm - Generated by SEC Publisher for SEC Filing</title>
    <!-- Licensed to: Stradley Ronon Stevens & Young
         Document created using EDGARfilings PROfile 7.2.0.0
         Copyright 1995 - 2020 Broadridge -->
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  <!--$$/page=--><a name="page_1"></a>
  <div><br>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">&#160;<font style="font-weight: bold;">AGENDA</font></div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">OCTOBER 27, 2020</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">RESOLUTIONS &#8211; FIDELITY BOND COVERAGE</div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">($40 Million Joint Fidelity Bond)</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-right: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><font style="font-weight: bold;">WHEREAS, </font>this
      Board of Trustees/Directors (the &#8220;Board&#8221;) 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;</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-right: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><font style="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&#8217;s participation in the proposed joint insured broker&#8217;s blanket bond is in the best interest of the Fund; and</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-right: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><font style="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 determined that the benefits of having ICI Mutual Insurance Company (&#8220;ICI Mutual&#8221;) participate in the joint insured broker&#8217;s blanket
      bond justify the maintenance of reserve premiums with ICI Mutual and the acceptance of restrictions upon the withdrawal of those reserve premiums;</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 0pt; margin-right: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><font style="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>
    <div><br>
    </div>
    <div style="text-align: justify; margin-right: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><font style="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>
    <div><br>
    </div>
    <div style="text-align: justify; margin-right: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><font style="font-weight: bold;">RESOLVED,</font>
      that the Secretary of the Fund is hereby authorized and directed to file with the Securities and Exchange Commission (&#8220;SEC&#8221;) a copy of the bond</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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    </div>
    <div style="text-align: justify; margin-right: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"> 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 designee be designated as the officer directed to make all
      necessary filings; and it is further</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-right: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><font style="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>
    <div><br>
    </div>
    <div style="text-align: justify; margin-right: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><font style="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&#8217;s shareholders for the Fund and each Series to participate in the joint insured broker&#8217;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>
    <div><br>
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  <a name="_bclPageBorder1"></a>
  <div style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
    <div align="left">
      <table cellspacing="0" border="0">

          <tr>
            <td width="13%"></td>
            <td width="22%"></td>
            <td width="64%"></td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">MARSH USA INC</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ATTN:</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ABIGAIL WILLIAMS</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">1717 ARCH STREET, SUITE 1100</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">PHILADELPHIA, PA 19103</font></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 align="left" colspan="2"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">INSURED:</font></i></b></td>
            <td align="left"><font size="2" face="Times New Roman,Arial,Helvetica,sans-serif">DELAWARE FUNDS BY MACQUARIE</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="2"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">PRODUCT:</font></i></b></td>
            <td align="left"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">DFIBond</font></i></b></td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="2"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">POLICY NO:</font></i></b></td>
            <td align="left"><font size="2" face="Times New Roman,Arial,Helvetica,sans-serif">81951478</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="2"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">TRANSACTION:</font></i></b></td>
            <td align="left"><font size="2" face="Times New Roman,Arial,Helvetica,sans-serif">RENL</font></td>
          </tr>

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  <div style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
    <div align="left">
      <table cellspacing="0" border="0">

          <tr>
            <td width="8%"></td>
            <td width="6%"></td>
            <td width="2%"></td>
            <td width="14%"></td>
            <td width="12%"></td>
            <td width="2%"></td>
            <td width="25%"></td>
            <td width="2%"></td>
            <td width="26%"></td>
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          <tr valign="bottom">
            <td align="left" colspan="5"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Chubb Group of Insurance Companies</font></b></td>
            <td align="left">&#160;</td>
            <td align="left" style="TEXT-INDENT: 71.039pt" colspan="3"><b><font size="3" face="Arial,Bold,Arial,Helvetica,sans-serif">DECLARATIONS</font></b></td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">202</font><font size="2" 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 align="left" style="TEXT-INDENT: 71.039pt" colspan="3"><b><font size="3" face="Arial,Bold,Arial,Helvetica,sans-serif">FINANCIAL INSTITUTION INVESTMENT</font></b></td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Whitehouse Station, NJ 08889</font></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" style="TEXT-INDENT: 71.039pt" colspan="3"><b><font size="3" face="Arial,Bold,Arial,Helvetica,sans-serif">COMPANY ASSET PROTECTION BOND</font></b></td>
          </tr>
          <tr>
            <td colspan="9">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">NAME OF ASSURED (including its </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Subsidiaries</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">):</font></td>
            <td align="left">&#160;</td>
            <td align="left" style="TEXT-INDENT: 71.039pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Bond Number:</font></td>
            <td align="left" style="TEXT-INDENT: 1.439pt" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">81951478</font></td>
          </tr>
          <tr>
            <td colspan="9">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">DELAWARE FUNDS BY MACQUARIE</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="9">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">610 MARKET STREET</font></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 align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" style="TEXT-INDENT: 71.039pt" colspan="3"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">FEDERAL INSURANCE COMPANY</font></b></td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">PHILADELPHIA, PA 19106</font></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" style="TEXT-INDENT: 71.039pt" colspan="3"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Incorporated under the laws of Indiana</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 align="left" style="TEXT-INDENT: 71.039pt" colspan="3"><font size="1" face="Arial,Arial,Helvetica,sans-serif">a stock insurance company herein called the COMPANY</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>
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            <td align="left" style="TEXT-INDENT: 71.039pt" colspan="3"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Capital Center, 251 North Illinois, Suite 1100</font></td>
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 71.039pt" colspan="3"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Indianapolis, IN 46204-1927</font></td>
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          <tr>
            <td colspan="9">&#160;</td>
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            <td align="left"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">ITEM 1.</font></b></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 align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">to</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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          <tr>
            <td colspan="9">&#160;</td>
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          <tr valign="bottom">
            <td align="left"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">ITEM 2.</font></b></td>
            <td align="left" colspan="6"><font size="2" face="Arial,Arial,Helvetica,sans-serif">LIMITS OF LIABILITY--DEDUCTIBLE AMOUNTS:</font></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" colspan="8"><font size="2" face="Arial,Arial,Helvetica,sans-serif">If &#8220;Not Covered&#8221; is </font><font size="2" face="Arial,Arial,Helvetica,sans-serif">inserted below opposite any specified INSURING CLAUSE, such INSURING CLAUSE
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left" colspan="8"><font size="2" face="Arial,Arial,Helvetica,sans-serif">any other reference shall be deemed to be deleted. </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">There shall be no deductible
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left" colspan="6"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">under INSURING CLAUSE 1. sustained by any Investment Company.</font></b></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 align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">SINGLE LOSS</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">DEDUCTIBLE</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 5.4pt" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">INSURING CLAUSE</font></td>
            <td align="left">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">LIMIT OF LIABILITY</font></td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">AMOUNT</font></td>
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          <tr>
            <td colspan="9">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">1</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Employee</font></td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">0.00</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">2</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">On Premises</font></td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">3</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">In Transit</font></td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">4</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Forgery or Alteration</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">5</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Extended Forgery</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">6</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Counterfeit Money</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">7</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Threats to Person</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">8</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Computer System</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">9</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Voice Initiated Funds Transfer</font></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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Instruction</font></td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">10</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Uncollectible Items of Deposit</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">10,000</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">11</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Audit Expense</font></td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">100,000</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">0.00</font></td>
          </tr>
          <tr>
            <td colspan="9">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">ITEM 3.</font></b></td>
            <td align="left" colspan="8"><font size="2" face="Arial,Arial,Helvetica,sans-serif">THE LIABILITY OF THE COMPANY IS ALSO SUBJECT TO THE TERMS OF THE FOLLOWING</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left" colspan="6"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ENDORSEMENTS EXECUTED SIMULTANEOUSLY HEREWITH:</font></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" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Endorsements 1-17</font></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>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
    <img border="0" src="p81951478_2020x2x1.jpg"> <br>
    <div align="left">
      <table cellspacing="0" border="0">

          <tr>
            <td width="55%"></td>
            <td width="44%"></td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond (5-98) - Federal</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1421 (Ed. 5-98)</font></td>
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Page 1 of 1</font></td>
          </tr>

      </table>
    </div>
  </div>
  <hr width="100%" noshade="noshade" size="2" align="center">
  <!--$$/page=--> <a name="page_3"></a><br>
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      <table cellspacing="0" border="0">

          <tr>
            <td width="21%"></td>
            <td width="7%"></td>
            <td width="2%"></td>
            <td width="3%"></td>
            <td width="4%"></td>
            <td width="2%"></td>
            <td width="57%"></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td colspan="6" style="text-align: left;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">The COMPANY, in consideration of payment of the required premium, and in reliance</font></td>
          </tr>
          <tr valign="bottom">
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            <td colspan="6" style="text-align: left;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">on the APPLICATION and all other statements made and information furnished to the</font></td>
          </tr>
          <tr valign="bottom">
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          </tr>
          <tr valign="bottom">
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); text-align: left;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">for:</font></td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
          </tr>
          <tr>
            <td colspan="7">&#160;</td>
          </tr>
          <tr>
            <td colspan="7">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">Insuring Clauses</font></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><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Employee</font></i></td>
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            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Loss resulting directly from </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Larceny </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">or </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Embezzlement </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">committed by any</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left" rowspan="1">&#160;</td>
            <td align="right" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
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          </tr>
          <tr>
            <td colspan="7">
              <hr noshade="noshade" size="1"> </td>
          </tr>
          <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 align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">On Premises</font></i></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">2</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Loss of </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Property </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">resulting



                directly from robbery, burglary, false pretenses,</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" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">common law or statutory larceny, misplacement, mysterious unexplainable</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" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">disappearance, damage, destruction or removal, from the possession, custody 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" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">control of the ASSURED, while such </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Property </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">is lodged or deposited at premises</font></td>
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          <tr valign="bottom">
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">located anywhere.</font></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 align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">In Transit</font></i></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">3</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Loss of </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Property </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">resulting



                directly from common law or statutory larceny,</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" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">misplacement, mysterious unexplainable disappearance, damage or destruction,</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" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">while the </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Property </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">is
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          <tr>
            <td colspan="7">&#160;</td>
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          <tr valign="bottom">
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a.</font></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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">b.</font></td>
            <td style="text-align: left;" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">in the custody of a natural person acting as a messenger of the ASSURED,</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 style="text-align: left;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">or</font></td>
            <td align="left">&#160;</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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">c.</font></td>
            <td colspan="3" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">in the custody of a </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Transportation Company </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">and being transported in a</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>
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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="3" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">covered </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Property </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">transported in such manner is limited to the following:</font></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="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(1</font></td>
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            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">written records,</font></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 align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(2</font></td>
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            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">securities issued in registered form, which are not endorsed or are</font></td>
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          <tr valign="bottom">
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="right" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td style="text-align: left; vertical-align: top;" rowspan="1"><font size="2" style="; font-family: Arial, Arial, Helvetica, sans-serif;">restrictively endorsed, or</font></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 align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(3</font></td>
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            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">negotiable instruments not payable to bearer, which are not endorsed</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">&#160;</td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">or are restrictively endorsed.</font></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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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">such </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Property </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">by the
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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" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">immediately on delivery to the premises of the addressee or to any representative</font></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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      </table>
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    <p style="MARGIN: 0px">&#160;</p>
    <div align="left">
      <table cellspacing="0" border="0">

          <tr>
            <td width="55%"></td>
            <td width="44%"></td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond (5-98)</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1421 (Ed. 5-98)</font></td>
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Page 1 of 19</font></td>
          </tr>

      </table>
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    <p style="MARGIN: 0px">&#160;</p>
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          <tr valign="bottom">
            <td align="left"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">Insuring Clauses</font></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>
          </tr>
          <tr valign="bottom">
            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">(continued)</font></i></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="6">&#160;</td>
          </tr>
          <tr>
            <td colspan="6">&#160;</td>
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          <tr valign="bottom">
            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Forgery Or Alteration</font></i></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">4</font></td>
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            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Loss resulting directly from:</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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a.</font></td>
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          <tr valign="bottom">
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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>
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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 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>
            <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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">b.</font></td>
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          <tr valign="bottom">
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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>
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          <tr valign="bottom">
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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">
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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>
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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 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 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 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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            <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>
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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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          <tr valign="bottom">
            <td align="left">&#160;</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>
            <td colspan="6">&#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" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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          <tr>
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            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">5</font></td>
            <td align="left"><font size="2" 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" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ordinary course of business, for its own account or the account of others in any</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">capacity:</font></td>
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            <td colspan="6">&#160;</td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">acquired, accepted or received, sold or delivered, or given value, extended</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">credit or assumed liability, in reliance on any original </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Securities,</font></b></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">documents or other written instruments </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">which prove to:</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 align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(1)</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">bear a </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Forgery </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">or a fraudulently material alteration,</font></td>
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            <td colspan="6">&#160;</td>
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          <tr valign="bottom">
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(2)</font></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 align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(3)</font></td>
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            <td colspan="6">&#160;</td>
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          <tr valign="bottom">
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">b.</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">guaranteed in writing or witnessed any signatures on any transfer,</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">assignment, bill of sale, power of attorney, guarantee, endorsement or other</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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">obligation upon or in connection with any </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Securities, documents or other</font></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" colspan="2"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">written instruments</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
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          <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>
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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 colspan="3" style="text-align: left; vertical-align: top;"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Employee, Custodian</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">, or a Federal or State chartered
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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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          <tr valign="bottom">
            <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>
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    <p style="MARGIN: 0px">&#160;</p>
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      <table cellspacing="0" border="0">

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            <td width="55%"></td>
            <td width="44%"></td>
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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond (5-98)</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1421 (Ed. 5-98)</font></td>
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Page 2 of 19</font></td>
          </tr>

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            <td align="left"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">Insuring Clauses</font></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><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Extended Forgery</font></i></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">For the purpose of this INSURING CLAUSE, a mechanically reproduced facsimile</font></td>
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          <tr valign="bottom">
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">(continued)</font></i></td>
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">signature is treated the same as a handwritten signature.</font></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 align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Counterfeit Money</font></i></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">6</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Loss resulting directly from the receipt by the ASSURED in good faith of any</font></td>
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          <tr valign="bottom">
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid" colspan="4"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Counterfeit </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">money.</font></td>
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          <tr>
            <td colspan="7">&#160;</td>
          </tr>
          <tr>
            <td colspan="7">&#160;</td>
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          <tr valign="bottom">
            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Threats To Person</font></i></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">7</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Loss resulting directly from surrender of </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Property </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">away from an office 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 align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ASSURED as a result of a threat communicated to the ASSURED to do bodily</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" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">harm to an </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Employee </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">as
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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" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">invitee of such </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Employee</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">,
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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" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">is, or allegedly is, being held captive provided, however, that prior to the surrender</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" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">of such </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Property</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">:</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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a.</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 colspan="3" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">notify an officer of the ASSURED who is not involved in such threat, and</font></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>
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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 valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">It is agreed that for purposes of this INSURING CLAUSE, any </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Employee </font></b><font size="2" 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>
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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 align="left">&#160;</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" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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          <tr>
            <td colspan="7">&#160;</td>
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          <tr>
            <td colspan="7">&#160;</td>
          </tr>
          <tr valign="bottom">
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            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">8</font></td>
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            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Loss resulting directly from fraudulent:</font></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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          <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>
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          <tr valign="bottom">
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            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
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          <tr>
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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="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(1</font></td>
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            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">funds or other property to be transferred, paid or delivered,</font></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 align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(2</font></td>
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            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">an account of the ASSURED or of its customer to be added, deleted,</font></td>
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            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="right" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td style="text-align: left; vertical-align: top;" rowspan="1"><font size="2" style="; font-family: Arial, Arial, Helvetica, sans-serif;">debited or credited, or</font></td>
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            <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="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(3</font></td>
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            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">an unauthorized account or a fictitious account to be debited 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 align="left">&#160;</td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">credited.</font></td>
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    <p style="MARGIN: 0px">&#160;</p>
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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond (5-98)</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1421 (Ed. 5-98)</font></td>
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Page 3 of 19</font></td>
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            <td align="left"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">Insuring Clauses</font></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><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">(continued)</font></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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            <td colspan="5">&#160;</td>
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            <td colspan="5">&#160;</td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Voice Initiated Funds</font></i></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">9</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Loss resulting directly from </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Voice Initiated Funds Transfer Instruction </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">directed</font></td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Transfer Instruction</font></i></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">to the ASSURED authorizing the transfer of dividends or redemption proceeds of</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" colspan="2"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Investment Company </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">shares from a </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Customer's </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">account, provided such </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Voice</font></b></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Initiated Funds Transfer Instruction </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">was:</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a.</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">received at the ASSURED'S offices by those </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Employees </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">of the ASSURED</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 style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">specifically authorized to receive the </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Voice Initiated Funds
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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: left; vertical-align: top;"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Instruction</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">,</font></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>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">b.</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">made by a person purporting to be a </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Customer</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">, and</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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">c.</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">made by said person for the purpose of causing the ASSURED or </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Customer</font></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 style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">to sustain a loss or making an improper personal financial gain for such</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="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">person or any other person.</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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">In order for coverage to apply under this INSURING CLAUSE, all </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Voice Initiated</font></b></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Funds Transfer Instructions </font></b><font size="2" 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 align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">the Designated Procedures outlined in the APPLICATION furnished to the</font></td>
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">COMPANY.</font></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><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Uncollectible Items of</font></i></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">10</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Loss resulting directly from the ASSURED having credited an account of a</font></td>
          </tr>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Deposit</font></i></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">customer, shareholder or subscriber on the faith of any </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Items of Deposit </font></b><font size="2" 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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">prove to be uncollectible, provided that the crediting of such account causes:</font></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>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a.</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">redemptions or withdrawals to be permitted,</font></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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">b.</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">shares to be issued, or</font></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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">c.</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">dividends to be paid,</font></td>
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            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td style="text-align: left; vertical-align: top;" rowspan="1"><font size="2" style="; font-family: Arial, Arial, Helvetica, sans-serif;">from an account of an </font><b><font size="2" style="; font-family: Arial, Bold, Arial, Helvetica, sans-serif;">Investment Company</font></b><font size="2" style="; font-family: 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 align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">In order for coverage to apply under this INSURING CLAUSE, the ASSURED</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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">must hold </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Items of Deposit </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">for the minimum number of days stated in 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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">APPLICATION before permitting any redemptions or withdrawals, issuing any</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">shares or paying any dividends with respect to such </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Items of Deposit</font></b><font size="2" 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 align="left" colspan="2"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Items of Deposit </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">shall not be deemed uncollectible until the ASSURED'S</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">standard collection procedures have failed.</font></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><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Audit Expense</font></i></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">11</font></td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Expense incurred by the ASSURED for that part of the cost of audits 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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">examinations required by any governmental regulatory authority or self-regulatory</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">organization to be conducted by such authority, organization or their appointee by</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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">reason of the discovery of loss sustained by the ASSURED and covered by 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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Bond.</font></td>
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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond (5-98)</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1421 (Ed. 5-98)</font></td>
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Page 4 of 19</font></td>
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            <td align="left"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">General Agreements</font></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 colspan="5">&#160;</td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Additional Companies</font></i></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">A.</font></td>
            <td colspan="3" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">If more than one corporation, or </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Investment Company</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">, or any combination of</font></td>
          </tr>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Included As Assured</font></i></td>
            <td align="left">&#160;</td>
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">them is included as the ASSURED herein:</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">The total liability of the COMPANY under this Bond for loss or losses</font></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>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">which the COMPANY would be liable under this Bond if all such loss were</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 style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">sustained by any one of them.</font></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>
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            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Only the first named ASSURED shall be deemed to be the sole agent of the</font></td>
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          <tr valign="bottom">
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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>
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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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            <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>
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          <tr valign="bottom">
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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="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">the settlement of each such claim prior to the execution of such settlement.</font></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="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(3</font></td>
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            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">The COMPANY shall not be responsible for the proper application of any</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 style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">payment made hereunder to the first named ASSURED.</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="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(4</font></td>
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            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Knowledge possessed or discovery made by any partner, director, trustee,</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>
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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="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">or discovery by all the ASSUREDS for the purposes of this Bond.</font></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="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(5</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>
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          <tr valign="bottom">
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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            <td colspan="5">&#160;</td>
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          <tr>
            <td colspan="5">&#160;</td>
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          <tr valign="bottom">
            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Representation Made By</font></i></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">B.</font></td>
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          <tr valign="bottom">
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</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>
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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 colspan="3" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">this Bond.</font></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>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a material fact, in the APPLICATION or otherwise, shall be grounds for recision of</font></td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">this Bond.</font></td>
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    <p style="MARGIN: 0px">&#160;</p>
    <div align="left">
      <table cellspacing="0" border="0">

          <tr>
            <td width="55%"></td>
            <td width="44%"></td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond (5-98)</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1421 (Ed. 5-98)</font></td>
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Page 5 of 19</font></td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
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            <td width="25%"></td>
            <td width="3%"></td>
            <td width="6%"></td>
            <td width="2%"></td>
            <td width="62%"></td>
          </tr>
          <tr valign="bottom">
            <td align="left"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">General Agreements</font></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><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">(continued)</font></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>
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          <tr valign="bottom">
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            <td colspan="3" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Bond for loss which has:</font></td>
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          <tr valign="bottom">
            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Liabilities - Notice To</font></i></td>
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(1</font></td>
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            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">occurred or will occur on premises, or</font></td>
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          <tr valign="bottom">
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            <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>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">)</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">been caused or will be caused by an employee, or</font></td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(3</font></td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">arisen or will arise out of the assets or liabilities,</font></td>
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          <tr valign="bottom">
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            <td align="left" rowspan="1">&#160;</td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a.</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>
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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>
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          <tr valign="bottom">
            <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>
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          <tr valign="bottom">
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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          <tr>
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          </tr>
          <tr>
            <td colspan="5">&#160;</td>
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          <tr valign="bottom">
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          </tr>
          <tr valign="bottom">
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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          </tr>
          <tr valign="bottom">
            <td align="left" rowspan="1">&#160;</td>
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            <td style="text-align: left; vertical-align: top;" rowspan="1">&#160;</td>
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            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">the total number of outstanding voting securities.</font></td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">an </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Employee </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">admits to being guilty
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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond (5-98)</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1421 (Ed. 5-98)</font></td>
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Page 6 of 19</font></td>
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            <td width="7%"></td>
            <td width="66%"></td>
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            <td align="left"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">General Agreements</font></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>
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          <tr valign="bottom">
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            <td align="left">&#160;</td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">an agreed statement of facts between the COMPANY and the ASSURED,</font></td>
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          <tr valign="bottom">
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            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">determine the existence, extent or amount of coverage under this Bond.</font></td>
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            <td colspan="3">&#160;</td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">DEDUCTIBLE AMOUNT, if any, the COMPANY shall have no liability for court</font></td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">costs and attorney's fees incurred in defending all or part of such suit or legal</font></td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">LIMIT OF LIABILITY stated in ITEM 2. of the DECLARATIONS for the applicable</font></td>
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          <tr>
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          <tr>
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          <tr valign="bottom">
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            <td align="left">&#160;</td>
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    <div align="left">
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            <td width="44%"></td>
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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond (5-98)</font></td>
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          </tr>
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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1421 (Ed. 5-98)</font></td>
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Page 7 of 19</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>
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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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          <tr>
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            <td align="left">&#160;</td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">b.</font></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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">c.</font></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 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>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">e.</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(1</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">an officer of the ASSURED,</font></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 align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(2</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a natural person while in the regular service of the ASSURED at any of</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 align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">the ASSURED'S premises and compensated directly by 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 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 align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Revenue Service Form W-2 or equivalent income reporting plans of</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 align="left">&#160;</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 align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">direct both as to the result to be accomplished and details and means</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 align="left">&#160;</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>
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            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">service,</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="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(3</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">)</font></td>
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            <td align="center" colspan="7"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ASSURED'S premises,</font></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 align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(4</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">an attorney retained by the ASSURED and an employee of such</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 align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">attorney while either is performing legal services for the ASSURED,</font></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 align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(5</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a natural person provided by an employment contractor to perform</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 align="left">&#160;</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 align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">at any of the ASSURED'S premises,</font></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 align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(6</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">an employee of an institution merged or consolidated with the</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 align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ASSURED prior to the effective date of this Bond,</font></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 align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(7</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a director or trustee of the ASSURED, but only while performing acts</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 align="left">&#160;</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 align="left">&#160;</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 align="left">&#160;</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 align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">custody of or access to </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Property </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">of



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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond (5-98)</font></td>
            <td align="left">&#160;</td>
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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1421 (Ed. 5-98)</font></td>
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Page 8 of 19</font></td>
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            <td align="left"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">Conditions and</font></i></b></td>
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            <td align="left"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">Limitations</font></i></b></td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Definitions</font></i></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(8</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">)</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>
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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 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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">b.</font></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="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(9</font></td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">any partner, officer or employee of an investment advisor, an underwriter</font></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">
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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Page 9 of 19</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">processing records); and, all other instruments similar to or in the nature of</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">the foregoing in which the ASSURED acquired an interest at the time of the</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ASSURED'S consolidation or merger with, or purchase of the principal</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">assets of, a predecessor or which are held by the ASSURED for any</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">purpose or in any capacity and whether so held gratuitously or not and</font></td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">whether or not the ASSURED is liable therefor.</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
          </tr>
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            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">k.</font></td>
            <td align="left"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Relative </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">means the spouse of an </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Employee </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">or partner of the ASSURED</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">and any unmarried child supported wholly by, or living in the home of, such</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Employee </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">or partner and being related to them by blood, marriage or legal</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">guardianship.</font></td>
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            <td colspan="3">&#160;</td>
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            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">l.</font></td>
            <td align="left"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Securities, documents or other written instruments </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">means original</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(including original counterparts) negotiable or non-negotiable instruments, or</font></td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">assignments thereof, which in and of themselves represent an equitable</font></td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">interest, ownership, or debt and which are in the ordinary course of business</font></td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">transferable by delivery of such instruments with any necessary</font></td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">endorsements or assignments.</font></td>
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      <table cellspacing="0" border="0">

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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond (5-98)</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1421 (Ed. 5-98)</font></td>
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Page 10 of 19</font></td>
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            <td align="left"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">Conditions and</font></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><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">Limitations</font></i></b></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Definitions</font></i></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">m.</font></td>
            <td align="left"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Subsidiary </font></b><font size="2" 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><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">(continued)</font></i></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">is named in the APPLICATION or is created during the BOND PERIOD and</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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">of which more than fifty percent (50%) of the outstanding securities or voting</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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">rights representing the present right to vote for election of directors is owned</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 size="2" face="Arial,Arial,Helvetica,sans-serif">or controlled by the ASSURED either directly or through one or more of its</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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">subsidiaries.</font></td>
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          <tr>
            <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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">n.</font></td>
            <td align="left"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Transportation Company </font></b><font size="2" 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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">or its leased vehicles for transportation or which provides freight forwarding</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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">or air express services.</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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">o.</font></td>
            <td align="left"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Voice Initiated Election </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">means any election concerning dividend options</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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">available to </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Investment Company </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">shareholders



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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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">requested by voice over the telephone.</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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">p.</font></td>
            <td align="left"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Voice Initiated Redemption </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">means any redemption of shares issued by an</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"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Investment Company </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">which is requested by voice over the telephone.</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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">q.</font></td>
            <td align="left"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Voice Initiated Funds Transfer Instruction </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">means any </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Voice Initiated</font></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><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Redemption </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">or </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Voice
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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 align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">For the purposes of these definitions, the singular includes the plural and the</font></td>
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          <tr valign="bottom">
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">plural includes the singular, unless otherwise indicated.</font></td>
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            <td colspan="5">&#160;</td>
          </tr>
          <tr>
            <td colspan="5">&#160;</td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">General Exclusions -</font></i></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">2</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" colspan="2"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">This bond does not directly or indirectly cover:</font></b></td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Applicable to All Insuring</font></i></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a.</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss not reported to the COMPANY in writing within sixty (60) days after</font></td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Clauses</font></i></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">termination of this Bond as an entirety;</font></td>
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          <tr>
            <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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">b.</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss due to riot or civil commotion outside the United States of America and</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 size="2" face="Arial,Arial,Helvetica,sans-serif">Canada, or any loss due to military, naval or usurped power, war 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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">insurrection. This Section 2.b., however, shall not apply to loss which occurs</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 size="2" face="Arial,Arial,Helvetica,sans-serif">in transit in the circumstances recited in INSURING CLAUSE 3., provided</font></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 align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">any person acting for the ASSURED of such riot, civil commotion, military,</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 size="2" face="Arial,Arial,Helvetica,sans-serif">naval or usurped power, war or insurrection;</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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">c.</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss resulting from the effects of nuclear fission or fusion or radioactivity;</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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">d.</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss of potential income including, but not limited to, interest and dividends</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 size="2" face="Arial,Arial,Helvetica,sans-serif">not realized by the ASSURED or by any customer of the ASSURED;</font></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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">e.</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">damages of any type for which the ASSURED is legally liable, except</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>
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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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">covered under this Bond;</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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">f.</font></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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">existence of or amount of loss under this Bond, except to the extent covered</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 size="2" face="Arial,Arial,Helvetica,sans-serif">under INSURING CLAUSE 11.;</font></td>
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            <td align="left">&#160;</td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">g.</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss resulting from indirect or consequential loss of any nature;</font></td>
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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond (5-98)</font></td>
            <td align="left">&#160;</td>
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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1421 (Ed. 5-98)</font></td>
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Page 11 of 19</font></td>
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            <td align="left"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">Conditions and</font></i></b></td>
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            <td align="left"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">Limitations</font></i></b></td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">General Exclusions -</font></i></td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">h.</font></td>
            <td colspan="4" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss resulting from dishonest acts by any member of the Board of Directors</font></td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Applicable to All Insuring</font></i></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="4" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">or Board of Trustees of the ASSURED who is not an </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Employee</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">, acting</font></td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Clauses</font></i></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="4" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">alone or in collusion with others;</font></td>
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            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td colspan="4" style="text-align: left; vertical-align: top;" rowspan="1">&#160;</td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">(continued)</font></i></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">i.</font></td>
            <td colspan="4" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss, or that part of any loss, resulting solely from any violation by the</font></td>
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            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td colspan="4" style="text-align: left; vertical-align: top;" rowspan="1"><font size="2" style="; font-family: Arial, Arial, Helvetica, sans-serif;">ASSURED or by any </font><b><font size="2" style="; font-family: Arial, Bold, Arial, Helvetica, sans-serif;">Employee</font></b><font size="2" style="; font-family: Arial, Arial, Helvetica, sans-serif;">:</font></td>
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            <td align="center" colspan="8"><br>
            </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="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(1</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">)</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">of any law regulating:</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a.</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">the issuance, purchase or sale of securities,</font></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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">b.</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">securities transactions on security or commodity exchanges 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 align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">the over the counter market,</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>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">c.</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">investment companies,</font></td>
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            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">d.</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">investment advisors, or</font></td>
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            <td align="left">&#160;</td>
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            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(2</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">)</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">of any rule or regulation made pursuant to any such law; or</font></td>
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            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">j.</font></td>
            <td colspan="4" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss of confidential information, material or data;</font></td>
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            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td colspan="4" style="text-align: left; vertical-align: top;" rowspan="1">&#160;</td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">k.</font></td>
            <td colspan="4" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss resulting from voice requests or instructions received over the</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>
            <td colspan="4" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">telephone, provided however, this Section 2.k. shall not apply to INSURING</font></td>
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); text-align: left; vertical-align: top;" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">CLAUSE 7. or 9.</font></td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Specific Exclusions -</font></i></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">3</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" colspan="5"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">This Bond does not directly or indirectly cover:</font></b></td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Applicable To All Insuring</font></i></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a.</font></td>
            <td colspan="4" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss caused by an </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Employee</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">, provided, however, this Section 3.a. shall not</font></td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Clauses Except Insuring</font></i></td>
            <td align="left">&#160;</td>
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            <td align="left">&#160;</td>
            <td colspan="4" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">apply to loss covered under INSURING CLAUSE 2. or 3. which results</font></td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Clause 1.</font></i></td>
            <td align="left">&#160;</td>
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            <td colspan="4" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">directly from misplacement, mysterious unexplainable disappearance, or</font></td>
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            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
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            <td colspan="4" rowspan="1" style="text-align: left; vertical-align: top;"><font size="2" style="font-family: Arial,Arial,Helvetica,sans-serif;">damage or destruction of </font><b><font size="2" style="font-family: Arial,Bold,Arial,Helvetica,sans-serif;">Property</font></b><font size="2" style="font-family: Arial,Arial,Helvetica,sans-serif;">;</font> <br>
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            <td align="center" colspan="8"><br>
            </td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">b.</font></td>
            <td colspan="4" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss through the surrender of property away from premises 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 colspan="4" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">as a result of a threat:</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(1</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">)</font></td>
            <td colspan="2" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">to do bodily harm to any natural person, except loss of </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Property


                </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">in</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 align="left">&#160;</td>
            <td colspan="2" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">transit in the custody of any person acting as messenger of the</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>
            <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>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="2" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">knowledge by the ASSURED of any such threat, and provided further</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 align="left">&#160;</td>
            <td colspan="2" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">that this Section 3.b. shall not apply to INSURING CLAUSE 7., or</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(2</font></td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">to do damage to the premises or </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Property </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">c.</font></td>
            <td colspan="4" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss resulting from payments made or withdrawals from any account</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 colspan="4" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">involving erroneous credits to such account;</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">d.</font></td>
            <td colspan="4" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss involving </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Items of Deposit </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">which are not finally paid for any reason</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 colspan="4" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">provided however, that this Section 3.d. shall not apply to INSURING</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 colspan="4" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">CLAUSE 10.;</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">e.</font></td>
            <td colspan="4" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss of property while in the mail;</font></td>
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    <p style="MARGIN: 0px">&#160;</p>
    <div align="left">
      <table cellspacing="0" border="0">

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            <td width="45%"></td>
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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond (5-98)</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1421 (Ed. 5-98)</font></td>
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Page 12 of 19</font></td>
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            <td align="left"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">Conditions and</font></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>
            <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 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 colspan="9">&#160;</td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Specific Exclusions -</font></i></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">f.</font></td>
            <td align="left" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss resulting from the failure for any reason of a financial or depository</font></td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Applicable To All Insuring</font></i></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Clauses Except Insuring</font></i></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="5"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Property </font></b><font size="2" 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">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">apply to loss of </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Property </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">resulting directly from robbery, burglary,</font></td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">(continued)</font></i></td>
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            <td align="left">&#160;</td>
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            <td align="left" rowspan="1" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">misplacement,</font><font size="2" face="Arial,Arial,Helvetica,sans-serif"> mysterious</font><font size="2" face="Arial,Arial,Helvetica,sans-serif">
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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>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ASSURED.</font></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>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">g.</font></td>
            <td align="left" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss of </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Property </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">while
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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" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">provided however, that this Section 3.g. shall not apply to INSURING</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 size="2" face="Arial,Arial,Helvetica,sans-serif">CLAUSE 3.;</font></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>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">h.</font></td>
            <td align="left" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss resulting from entries or changes made by a natural person with</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" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">authorized access to a </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Computer System </font></b><font size="2" 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" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">instructions, unless such instructions are given to that person by a software</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>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">design, develop, prepare, supply, service, write or implement programs for</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" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">the ASSURED's </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Computer System</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">; or</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>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">i.</font></td>
            <td align="left" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss resulting directly or indirectly from the input of data into a </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Computer</font></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" colspan="5"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">System </font></b><font size="2" 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>
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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            <td align="left">&#160;</td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Applicable To All Insuring</font></i></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a.</font></td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Clauses Except Insuring</font></i></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loan whether such loan was procured in good faith or through trick, artifice,</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">fraud or false pretenses; provided, however, this Section 4.a. shall not apply</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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">to INSURING CLAUSE 8.;</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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          <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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">b.</font></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">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">c.</font></td>
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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            <td colspan="9">&#160;</td>
          </tr>
          <tr>
            <td colspan="9">&#160;</td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Limit Of Liability/Non-</font></i></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 align="left">&#160;</td>
            <td colspan="5" style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">under this Bond with respect to all loss resulting from:</font></td>
            <td align="left">&#160;</td>
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          <tr>
            <td colspan="9">&#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>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="3"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Employee </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">is concerned or implicated, or</font></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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          <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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">b.</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>
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          <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>
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      <table cellspacing="0" border="0">

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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond (5-98)</font></td>
            <td align="left">&#160;</td>
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          <tr valign="bottom">
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1421 (Ed. 5-98)</font></td>
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Page 13 of 19</font></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 align="left"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">Limitations</font></i></b></td>
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            <td align="left">&#160;</td>
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          <tr>
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          <tr valign="bottom">
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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          <tr>
            <td colspan="5">&#160;</td>
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          <tr>
            <td colspan="5">&#160;</td>
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          <tr valign="bottom">
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            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">6</font></td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ASSURED being aware of:</font></td>
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          <tr>
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          <tr valign="bottom">
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            <td align="left">&#160;</td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a.</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">or</font></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>
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            <td align="left">&#160;</td>
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            <td colspan="5">&#160;</td>
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            <td align="left">&#160;</td>
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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          <tr>
            <td colspan="5">&#160;</td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Notice To Company -</font></i></td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a.</font></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 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>
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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 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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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">numbers, if issued with them.</font></td>
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          <tr>
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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>
            <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 align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</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>
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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>
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            <td width="45%"></td>
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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond (5-98)</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1421 (Ed. 5-98)</font></td>
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Page 14 of 19</font></td>
          </tr>

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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 align="left">&#160;</td>
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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            <td colspan="5">&#160;</td>
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          <tr>
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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" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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          <tr>
            <td colspan="5">&#160;</td>
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          <tr>
            <td colspan="5">&#160;</td>
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          <tr valign="bottom">
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            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">9</font></td>
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          <tr valign="bottom">
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          <tr valign="bottom">
            <td align="center" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">actual market value at the time of replacement.</font></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>
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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 align="left">&#160;</td>
            <td align="left">&#160;</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>
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            <td align="left">&#160;</td>
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          <tr>
            <td width="54%"></td>
            <td width="45%"></td>
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          <tr valign="bottom">
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond (5-98)</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1421 (Ed. 5-98)</font></td>
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Page 15 of 19</font></td>
          </tr>

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            <td width="6%"></td>
            <td width="2%"></td>
            <td width="4%"></td>
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            <td align="left"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">Conditions and</font></i></b></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"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">Limitations</font></i></b></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 align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">(continued)</font></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>
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          <tr>
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          <tr valign="bottom">
            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Securities Settlement</font></i></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 align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">securities in money, or issue its indemnity to effect replacement securities.</font></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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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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          <tr>
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          <tr valign="bottom">
            <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 align="left">&#160;</td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">DEDUCTIBLE AMOUNT - one hundred (100%) percent;</font></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>
            <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>
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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>
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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>
            <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>
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            <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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            <td align="left">&#160;</td>
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          <tr>
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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 valign="bottom">
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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          <tr>
            <td colspan="5">&#160;</td>
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          <tr>
            <td colspan="5">&#160;</td>
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          <tr valign="bottom">
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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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">of such payment. On request, the ASSURED shall deliver to the COMPANY 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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">assignment of the ASSURED'S rights, title and interest and causes of action</font></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 align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Recoveries, whether effected by the COMPANY or by the ASSURED, shall be</font></td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">applied net of the expense of such recovery in the following order:</font></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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a.</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">first, to the satisfaction of the ASSURED'S loss which would otherwise have</font></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 align="left">&#160;</td>
            <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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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">second, to the COMPANY in satisfaction of amounts paid in settlement of</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>
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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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">c.</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">third, to the ASSURED in satisfaction of the applicable DEDUCTIBLE</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>
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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond (5-98)</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1421 (Ed. 5-98)</font></td>
            <td align="left">
              <div><font size="1" face="Arial,Arial,Helvetica,sans-serif">Page 16 of 19</font></div>
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            <td align="left"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">Conditions and</font></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><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">Limitations</font></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">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">d.</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">fourth, to the ASSURED in satisfaction of any loss suffered by the</font></td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Recovery</font></i></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ASSURED which was not covered under this Bond.</font></td>
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            <td align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">(continued)</font></i></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Recovery from reinsurance or indemnity of the COMPANY shall not be deemed a</font></td>
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#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 align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Cooperation Of Assured</font></i></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">12</font></td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">At the COMPANY'S request and at reasonable times and places designated by</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">the COMPANY, the ASSURED shall:</font></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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a.</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">submit to examination by the COMPANY and subscribe to the same under</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="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">oath,</font></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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">b.</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">produce for the COMPANY'S examination all pertinent records, and</font></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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">c.</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">cooperate with the COMPANY in all matters pertaining to the loss.</font></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 align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">The ASSURED shall execute all papers and render assistance to secure to 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 align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">COMPANY the rights and causes of action provided for under this Bond. The</font></td>
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          <tr valign="bottom">
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#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 align="left"><i><font size="2" face="Arial,Italic,Arial,Helvetica,sans-serif">Termination</font></i></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">13</font></td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">If the Bond is for a sole ASSURED, it shall not be terminated unless written notice</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">shall have been given by the acting party to the affected party and to the</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Securities and Exchange Commission, Washington, D.C., not less than sixty (60)</font></td>
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            <td align="left">&#160;</td>
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            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">days prior to the effective date of such termination.</font></td>
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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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">If the Bond is for a joint ASSURED, it shall not be terminated unless written notice</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">shall have been given by the acting party to the affected party, and by the</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">COMPANY to all ASSURED </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Investment Companies </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">and to the Securities and</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Exchange Commission, Washington, D.C., not less than sixty (60) days prior 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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">the effective date of such termination.</font></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>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Company</font></b><font size="2" 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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a.</font></td>
            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">immediately on the taking over of such ASSURED by a receiver or other</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="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">liquidator or by State or Federal officials, or</font></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>
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            <td style="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">immediately on the filing of a petition under any State or Federal statute</font></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 colspan="5">&#160;</td>
          </tr>
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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="text-align: left; vertical-align: top;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">immediately upon such ASSURED ceasing to exist, whether through merger</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>
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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>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">accordance with the standard short rate cancellation tables if terminated by 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 align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ASSURED or pro rata if terminated for any other reason.</font></td>
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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond (5-98)</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1421 (Ed. 5-98)</font></td>
            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Page 17 of 19</font></td>
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            <td align="left"><b><i><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">Conditions and</font></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><font size="3" face="Arial,BoldItalic,Arial,Helvetica,sans-serif">Limitations</font></i></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>
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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>
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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" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1421 (Ed. 5-98)</font></td>
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    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">14-02-9228 (2/2010)</font></p>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 1</font></p>
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">It is agreed that the NAME OF ASSURED in the DECLARATIONS is amended to read as follows:</font></td>
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          <tr>
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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>
            <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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          <tr valign="bottom">
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          <tr valign="bottom">
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      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
    <div align="left">
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          <tr>
            <td width="61%"></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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-0949 (Rev. 1-97)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 1</font></td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
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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>
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          <tr>
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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">
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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>
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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">
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          <tr valign="bottom">
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          <tr valign="bottom">
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          <tr>
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          <tr valign="bottom">
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      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
    <div align="left">
      <table cellspacing="0" border="0">

          <tr>
            <td width="60%"></td>
            <td width="39%"></td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-0949 (Ed. 1-97)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 2</font></td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
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          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">The Select 20 Portfolio</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Macquarie Core Plus Bond Portfolio</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Macquarie Emerging Markets Portfolio</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">The Focus Smid- Cap Growth Equity Portfolio</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Macquarie High Yield Bond Portfolio</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">The International Equity Portfolio</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Macquarie Labor Select International Equity Portfolio</font></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">
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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">
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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">
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          <tr valign="bottom">
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          <tr>
            <td>&#160;</td>
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          <tr valign="bottom">
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Voyageur Insured Funds</font></b></td>
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          <tr valign="bottom">
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          <tr>
            <td>&#160;</td>
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          <tr valign="bottom">
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          <tr>
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    <p style="MARGIN: 0px">&#160;</p>
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          <tr>
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          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond</font></td>
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          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-0949 (Ed. 1-97)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 3</font></td>
          </tr>

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    <p style="MARGIN: 0px">&#160;</p>
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            <td>&#160;</td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2020.</font></td>
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          <tr>
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    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Date: November 9, 2020</font></p>
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          <tr>
            <td width="60%"></td>
            <td width="39%"></td>
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          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond</font></td>
            <td align="left">&#160;</td>
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          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-0949 (Ed. 1-97)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 4</font></td>
          </tr>

      </table>
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    <p style="MARGIN: 0px">&#160;</p>
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            <td width="7%"></td>
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 5.52pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">DELAWARE FUNDS BY MACQUARIE</font></td>
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            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">1</font></td>
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            <td align="left">&#160;</td>
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            <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>
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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">
            <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>
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          </tr>
          <tr valign="bottom">
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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>
            <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>
            <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>
            <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>
            <td align="left">&#160;</td>
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          <tr>
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          </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 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" style="text-align: left; vertical-align: middle;"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Customer </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">or financial institution and which bear
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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>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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          <tr>
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            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">d.</font></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 align="left">&#160;</td>
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    <p style="MARGIN: 0px">&#160;</p>
    <div align="left">
      <table cellspacing="0" border="0">

          <tr>
            <td width="62%"></td>
            <td width="37%"></td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond</font></td>
            <td align="left">&#160;</td>
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          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-2367 (Rev. 10-03)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 1</font></td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
  </div>
  <hr width="100%" noshade="noshade" size="2" align="center">
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            <td width="3%"></td>
            <td width="7%"></td>
            <td width="43%"></td>
            <td width="41%"></td>
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            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">3</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">By adding to Section 1., Definitions, the following:</font></td>
            <td align="left">&#160;</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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">r.</font></td>
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            <td align="left">&#160;</td>
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            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">communication sent by Telex or similar means of communication, or through an</font></td>
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            <td align="left" colspan="2" rowspan="1"><font size="2" style="; font-family: Arial, Arial, Helvetica, sans-serif;">electronic communication system or through an automated clearing house.</font></td>
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          <tr valign="bottom">
            <td align="center" colspan="5"><br>
            </td>
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          <tr>
            <td colspan="5">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">4</font></td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Clause 1. the following:</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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">j.</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss resulting directly or indirectly from </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Telefacsimile </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">instructions provided, however, 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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">exclusion shall not apply to this INSURING CLAUSE.</font></td>
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          <tr>
            <td colspan="5">&#160;</td>
          </tr>
          <tr>
            <td colspan="5">&#160;</td>
          </tr>
          <tr>
            <td colspan="5">&#160;</td>
          </tr>
          <tr>
            <td colspan="5">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="right" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2020.</font></td>
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          <tr>
            <td colspan="5">&#160;</td>
          </tr>
          <tr>
            <td colspan="5">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="right" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.</font></td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Date: November 9, 2020</font></p>
    <p align="center"> <img border="0" src="p81951478_2020x26x1.jpg"></p>
    <br>
    <div align="left">
      <table cellspacing="0" border="0">

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            <td width="37%"></td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-2367 (Rev. 10-03)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 2</font></td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
  </div>
  <hr width="100%" noshade="noshade" size="2" align="center">
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            <td rowspan="1" colspan="6" style="text-align: right; vertical-align: middle;">&#160;&#160;&#160;&#160;<b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">FEDERAL INSURANCE COMPANY</font></b></td>
          </tr>
          <tr>
            <td colspan="6" style="text-align: right; vertical-align: middle;">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td rowspan="1" colspan="6" style="text-align: right; vertical-align: middle;">&#160;&#160;&#160;&#160;<font size="2" face="Arial,Arial,Helvetica,sans-serif">Endorsement No.: 4 Bond</font></td>
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          <tr>
            <td colspan="6" style="text-align: right; vertical-align: middle;">&#160;</td>
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          <tr valign="bottom">
            <td rowspan="1" colspan="6" style="text-align: right; vertical-align: middle;">&#160;&#160;&#160;&#160;<font size="2" face="Arial,Arial,Helvetica,sans-serif">Bond Number: </font><font size="2" face="Arial,Arial,Helvetica,sans-serif">81951478</font></td>
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          <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 align="left" style="BORDER-BOTTOM: #000000 1px solid" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">NAME OF ASSURED: DELAWARE FUNDS BY MACQUARIE</font></td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
          </tr>
          <tr>
            <td colspan="6">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="center" colspan="6"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">AUTOMATED TELEPHONE TRANSACTION ENDORSEMENT</font></b></td>
          </tr>
          <tr>
            <td colspan="6">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">It is agreed that this Bond is amended as follows:</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">1</font></td>
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            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">By adding the following INSURING CLAUSE:</font></td>
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          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">13. Automated Telephone System Transaction</font></td>
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          </tr>
          <tr valign="bottom">
            <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>
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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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            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">By adding to Section 1., Definitions, the following:</font></td>
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          <tr>
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          </tr>
          <tr valign="bottom">
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            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(1</font></td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">No </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">APS Transaction </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">shall



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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 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" style="TEXT-INDENT: 2.76pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(Election in Application)</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(2</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">)</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">All </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">APS Transactions </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">shall



                be logged or otherwise recorded and the records shall be</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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">retained for at least six (6) months. (Logging)</font></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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Information contained in the records shall be capable of being retrieved and produced</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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">within a reasonable time after retrieval of specific information is requested, at a success</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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">rate of no less than 85 percent.</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(3</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">)</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">The caller in any request for an </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">APS Transaction</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">, before executing that </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">APS</font></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" style="text-align: left; vertical-align: middle;"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Transaction </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">must enter a personal identification
                number (PIN), social security number</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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">and account number. (Identity Test)</font></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 colspan="2" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">If the caller fails to enter a correct PIN within three (3) attempts, the caller must not be</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" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">allowed additional attempts during the same telephone call to enter the PIN. The caller</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" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">may either be instructed to redial a customer service representative or may be</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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">immediately connected to such a representative. (Limited attempts to Enter PIN)</font></td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
    <div align="left">
      <table cellspacing="0" border="0">

          <tr>
            <td width="60%"></td>
            <td width="39%"></td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-2345 (Ed. 10-00)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 1</font></td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
  </div>
  <hr width="100%" noshade="noshade" size="2" align="center">
  <div style="PAGE-BREAK-BEFORE: always">&#160;</div>
  <!--$$/page=--> <a name="page_30"></a><br>
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  <div style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
    <div align="left">
      <table cellspacing="0" border="0">

          <tr>
            <td width="3%"></td>
            <td width="3%"></td>
            <td width="5%"></td>
            <td width="5%"></td>
            <td width="3%"></td>
            <td width="80%"></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(4</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">)</font></td>
            <td style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">A written confirmation of any </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">APS Transaction </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">or change of address shall be mailed 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 align="left">&#160;</td>
            <td style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">the shareholder or unitholder to whose account such transaction relates, at the record</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="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">address, by the end of the insured's next regular processing cycle, but in no event later</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="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">than five (5) business days following such </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">APS Transaction</font></b><font size="2" 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 align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(5</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">)</font></td>
            <td style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Access to the equipment which permits the entity receiving the </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">APS


                  Transaction</font></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>
            <td style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">request to process and effect the transaction shall be limited in the following manner:</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="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(Access to APS Equipment)</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">t.</font></td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">APS Election </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">means any election concerning
                various account features available to the</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">shareholder or unitholder which is made through the </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Automated


                  Phone System </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">by means of</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">information transmitted by an individual caller through use of a </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Automated Phone System</font></b><font size="2" 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="3" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">These features include account statements, auto exchange, auto asset builder, automatic</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">withdrawal, dividend/capital gain options, dividend sweep, telephone balance consent and</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">change of address.</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: middle;" rowspan="1">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">u.</font></td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">APS Exchange </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">means any exchange of shares or
                units in a registered account of one fund</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">into shares or units in an account with the same tax identification number and same</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ownership-type code of another fund in the same complex pursuant to exchange privileges of</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">the two funds, which exchange is requested through the </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Automated Phone System </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">by</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">means of information transmitted by an individual caller through use of an </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Automated Phone</font></b></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">System</font></b><font size="2" 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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">v.</font></td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">APS Purchase </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">means any purchase of shares or
                units issued by an </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Investment Company</font></b></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">which is requested through an </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Automated Phone System</font></b><font size="2" 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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">w.</font></td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">APS Redemption </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">means any redemption of shares or
                units issued by an </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Investment</font></b></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Company </font></b><font size="2" 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 align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">individual caller through use of a </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Automated Phone
                  System</font></b><font size="2" 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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">x.</font></td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">APS Transaction </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">means any </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">APS Purchase, APS Redemption, APS Election </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">or </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">APS</font></b></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Exchange</font></b><font size="2" 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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">y.</font></td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Automated Phone System </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">means an automated system
                which receives and converts to</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">executable instructions transmissions through the </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Automated


                  Phone System </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">through use of</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a touch-tone keypad or other tone system; and always excluding transmissions from a</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">computer system or part thereof.</font></td>
          </tr>
          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">3</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td colspan="4" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">By adding the following Section after Section 4., Specific Exclusions-Applicable To All Insuring</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Clauses Except 1., 4., 5.:</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Section 4.A Specific Exclusion-Applicable to Insuring Clause 13</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="4"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">This Bond does not directly or indirectly cover under Insuring Clause 13:</font></b></td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-2345 (Ed. 10-00)</font></td>
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          <tr>
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            <td width="39%"></td>
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          <tr valign="bottom">
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    <p style="MARGIN: 0px">&#160;</p>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Date: November 9, 2020</font></p>
    <p align="center"> <img border="0" src="p81951478_2020x26x1.jpg"></p>
    <br>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond</font></p>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-2365 (Ed. 10-00)</font></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 align="left">&#160;</td>
            <td align="right" colspan="2"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">FEDERAL INSURANCE COMPANY</font></b></td>
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          <tr valign="bottom">
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="right" rowspan="1" colspan="2">&#160;</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 align="left">&#160;</td>
            <td align="right" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Endorsement No.: 6 Bond</font></td>
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          <tr valign="bottom">
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="left" rowspan="1">&#160;</td>
            <td align="right" rowspan="1" colspan="2">&#160;</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>
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            <td style="text-indent: 194.45pt; text-align: right; vertical-align: middle;" rowspan="1" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Bond Number:</font><font size="2" face="Arial,Arial,Helvetica,sans-serif"> 81951478</font></td>
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          <tr>
            <td colspan="8">&#160;</td>
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          <tr>
            <td colspan="8">&#160;</td>
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          <tr valign="bottom">
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid" colspan="7"><font size="2" face="Arial,Arial,Helvetica,sans-serif">NAME OF ASSURED: DELAWARE FUNDS BY MACQUARIE</font></td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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          <tr valign="bottom">
            <td align="center" colspan="8"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">UNAUTHORIZED SIGNATURE ENDORSEMENT</font></b></td>
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            <td align="left" colspan="7"><font size="2" face="Arial,Arial,Helvetica,sans-serif">It is agreed that this Bond is amended as follows:</font></td>
            <td align="left">&#160;</td>
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          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">1</font></td>
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            <td align="left" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">By adding the following INSURING CLAUSE:</font></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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">15</font></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 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 colspan="4" style="text-align: left; vertical-align: middle;"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Withdrawal Order </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">made or drawn on or against the
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="4" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">which bears the signature or endorsement of one other than a person whose name and signature</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td colspan="3" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">is on file with the ASSURED as a signatory on such account.</font></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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          <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" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">CLAUSE that the ASSURED shall have on file signatures of all the persons who are signatories</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>
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            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">2</font></td>
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            <td align="left" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">By adding to Section 1., Definitions, the following:</font></td>
            <td align="left">&#160;</td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">z.</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>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td colspan="2" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">not represented by an instrument and the transfer of which is registered on books</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>
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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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            <td colspan="2" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">of a type commonly dealt in on securities exchanges or markets, and</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td colspan="2" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">either one of a class or series or by its terms divisible into a class or series of shares,</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>
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    <p style="MARGIN: 0px">&#160;</p>
    <div align="left">
      <table cellspacing="0" border="0">

          <tr>
            <td width="60%"></td>
            <td width="39%"></td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-5602 (Ed. 10-03)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 1</font></td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
  </div>
  <hr width="100%" noshade="noshade" size="2" align="center">
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            <td align="left" style="TEXT-INDENT: 25.199pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">bb.</font></td>
            <td align="left"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Withdrawal Order </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">means a non-negotiable instrument, other than an </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Instruction</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">, signed by a</font></td>
          </tr>
          <tr valign="bottom">
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">customer of the ASSURED authorizing the ASSURED to debit the customer&#8217;s account in the</font></td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
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          <tr>
            <td colspan="2">&#160;</td>
          </tr>
          <tr>
            <td colspan="2">&#160;</td>
          </tr>
          <tr>
            <td colspan="2">&#160;</td>
          </tr>
          <tr>
            <td colspan="2">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2020.</font></td>
          </tr>
          <tr>
            <td colspan="2">&#160;</td>
          </tr>
          <tr>
            <td colspan="2">&#160;</td>
          </tr>
          <tr>
            <td colspan="2">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.</font></td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Date: November 9, 2020</font></p>
    <p align="center"> <img border="0" src="p81951478_2020x26x1.jpg"></p>
    <br>
    <div align="left">
      <table cellspacing="0" border="0">

          <tr>
            <td width="60%"></td>
            <td width="39%"></td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-5602 (Ed. 10-03)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 2</font></td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</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 align="left">&#160;</td>
            <td style="text-indent: 169.22pt; text-align: right; vertical-align: middle;" colspan="2"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">FEDERAL INSURANCE COMPANY</font></b></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 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 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>
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          <tr>
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          <tr valign="bottom">
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid" colspan="6"><font size="2" face="Arial,Arial,Helvetica,sans-serif">NAME OF ASSURED: DELAWARE FUNDS BY MACQUARIE</font></td>
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          </tr>
          <tr>
            <td colspan="7">&#160;</td>
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          <tr valign="bottom">
            <td align="center" colspan="7"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">EXTENDED COMPUTER SYSTEMS ENDORSEMENT</font></b></td>
          </tr>
          <tr>
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          <tr valign="bottom">
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          </tr>
          <tr>
            <td colspan="7">&#160;</td>
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          <tr valign="bottom">
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            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">By adding the following INSURING CLAUSE:</font></td>
            <td align="left">&#160;</td>
          </tr>
          <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" style="TEXT-INDENT: 25.195pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">A.</font></td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">the fraudulent modification of </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Electronic Data, Electronic Media </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">or </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Electronic</font></b></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 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 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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          <tr valign="bottom">
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">the damage or destruction of </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Electronic Data, Electronic Media </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">or </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Electronic</font></b></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 align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">similar instruction which was written or altered to intentionally incorporate a hidden</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>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">instruction designed to damage or destroy </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Electronic Data, Electronic Media</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">, or</font></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 align="left">&#160;</td>
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          <tr>
            <td width="60%"></td>
            <td width="39%"></td>
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          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP2 Bond</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-2976 (Ed. 1-02)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 1</font></td>
          </tr>

      </table>
    </div>
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            <td width="89%"></td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">B.</font></td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">transmitted or appear to have been transmitted through:</font></td>
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          <tr>
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          </tr>
          <tr valign="bottom">
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(1)</font></td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(2)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">an automated clearing house or custodian, or</font></td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(3)</font></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">
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            <td align="left">&#160;</td>
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          <tr valign="bottom">
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          <tr valign="bottom">
            <td align="left">&#160;</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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            <td align="left">&#160;</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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      </table>
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    <p style="MARGIN: 0px">&#160;</p>
    <div align="left">
      <table cellspacing="0" border="0">

          <tr>
            <td width="60%"></td>
            <td width="39%"></td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP2 Bond</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-2976 (Ed. 1-02)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 2</font></td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
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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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">cc.</font></td>
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          <tr valign="bottom">
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            <td align="left">&#160;</td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Clearing House Interbank Payment System (CHIPS), Society of Worldwide International</font></td>
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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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          <tr valign="bottom">
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            <td align="left">&#160;</td>
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          <tr>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">gg.</font></td>
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            <td align="left">&#160;</td>
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          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">3</font></td>
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            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">CLAUSES except 1., 4., and 5.:</font></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" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Section 4.A. Specific Exclusions-Applicable to INSURING CLAUSE 16</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>
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          <tr>
            <td colspan="5">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">loss resulting directly or indirectly from </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Forged</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">, altered or fraudulent negotiable instruments,</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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">securities, documents or written instruments used as source documentation in the preparation</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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">of </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Electronic Data</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">;</font></td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">b.</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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">converted to </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Electronic Data </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">and then only in that converted form;</font></td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">c.</font></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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          <tr valign="bottom">
            <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>
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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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          <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 align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">mechanism; or</font></td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">e.</font></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>
            <td colspan="5">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">f.</font></td>
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          </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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(1)</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>
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          </tr>

      </table>
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    <p style="MARGIN: 0px">&#160;</p>
    <div align="left">
      <table cellspacing="0" border="0">

          <tr>
            <td width="60%"></td>
            <td width="39%"></td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP2 Bond</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-2976 (Ed. 1-02)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 3</font></td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
  </div>
  <hr width="100%" noshade="noshade" size="2" align="center">
  <div style="PAGE-BREAK-BEFORE: always">&#160;</div>
  <a name="page_38"></a><br>
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  <div style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
    <div align="left">
      <table cellspacing="0" border="0">

          <tr>
            <td width="3%"></td>
            <td width="3%"></td>
            <td width="93%"></td>
          </tr>
          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">4</font></td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">By adding to Section 9., Valuation, the following:</font></td>
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          <tr>
            <td colspan="3">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Electronic Data, Electronic Media, Or Electronic Instruction</font></td>
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          <tr>
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          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">In case of loss of, or damage to, </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Electronic Data, Electronic Media </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">or </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Electronic Instruction </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">used</font></td>
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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>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">applicable SINGLE LOSS LIMIT OF LIABILITY.</font></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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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">SECURITIES and OTHER PROPERTY paragraphs of this Section.</font></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 align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2020.</font></td>
          </tr>
          <tr>
            <td colspan="3">&#160;</td>
          </tr>
          <tr>
            <td colspan="3">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.</font></td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Date: November 9, 2020</font></p>
    <p align="center"> <img border="0" src="p81951478_2020x26x1.jpg"></p>
    <br>
    <div align="left">
      <table cellspacing="0" border="0">

          <tr>
            <td width="60%"></td>
            <td width="39%"></td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP2 Bond</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-2976 (Ed. 1-02)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 4</font></td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
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            <td colspan="3" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">covered under this INSURING CLAUSE.</font></td>
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    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Date: November 9, 2020</font></p>
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    <br>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond</font></p>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-6282 (Ed. 11-04)</font></p>
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    <p style="MARGIN: 0px">&#160;</p>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Date: November 9, 2020</font></p>
    <p align="center"> <img border="0" src="p81951478_2020x26x1.jpg"></p>
    <br>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond</font></p>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-0955 (Rev. 1-97)</font></p>
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            <td align="right" style="BORDER-BOTTOM: #000000 1px solid" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">NAME OF ASSURED: DELAWARE FUNDS BY MACQUARIE</font></td>
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#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 align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td align="left" style="TEXT-INDENT: 27pt" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">DEDUCTIBLE</font></td>
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 4.559pt" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">INSURING CLAUSE</font></td>
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            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">0</font></td>
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            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">2</font></td>
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            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left" style="TEXT-INDENT: 27pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
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            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">3</font></td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left" style="TEXT-INDENT: 27pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
          </tr>
          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">4</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" style="TEXT-INDENT: 1.801pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Forgery or Alteration</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left" style="TEXT-INDENT: 27pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
          </tr>
          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">5</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" style="TEXT-INDENT: 1.801pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Extended Forgery</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left" style="TEXT-INDENT: 27pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
          </tr>
          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">6</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" style="TEXT-INDENT: 1.801pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Counterfeit Money</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left" style="TEXT-INDENT: 27pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
          </tr>
          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">7</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" style="TEXT-INDENT: 1.801pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Threats to Person</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left" style="TEXT-INDENT: 27pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
          </tr>
          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">8</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" style="TEXT-INDENT: 1.801pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Computer System</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left" style="TEXT-INDENT: 27pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
          </tr>
          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">9</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" style="TEXT-INDENT: 2.045pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Voice Initiated Funds Transfer Instruction</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left" style="TEXT-INDENT: 27pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
          </tr>
          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">10</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" style="TEXT-INDENT: 2.645pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Uncollectible Items of Deposit</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
            <td align="left" style="TEXT-INDENT: 27pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">10,000</font></td>
          </tr>
          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">11</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" style="TEXT-INDENT: 2.645pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Audit Expense</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">100,000</font></td>
            <td align="left" style="TEXT-INDENT: 27pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">0</font></td>
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          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">12</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Telefacsimile Instruction Fraud</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left" style="TEXT-INDENT: 27pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
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          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">13</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" style="TEXT-INDENT: 0.627pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Automated Telephone Transaction</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left" style="TEXT-INDENT: 27pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
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          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">14</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" style="TEXT-INDENT: 0.627pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Stop Payment Order or Refusal to Pay Check</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left" style="TEXT-INDENT: 27pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
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          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">15</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" style="TEXT-INDENT: 0.627pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Unauthorized Signature</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
            <td align="left" style="TEXT-INDENT: 27pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">10,000</font></td>
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          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">16</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" style="TEXT-INDENT: 0.627pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Extended Computer Systems</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">40,000,000</font></td>
            <td align="left" style="TEXT-INDENT: 27pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">50,000</font></td>
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          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">17</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" style="TEXT-INDENT: 0.627pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Claims Expense</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">100,000</font></td>
            <td align="left" style="TEXT-INDENT: 27pt"><font size="2" face="Arial,Arial,Helvetica,sans-serif">$</font></td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">0</font></td>
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            <td colspan="7">&#160;</td>
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            <td colspan="7">&#160;</td>
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            <td colspan="7">&#160;</td>
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            <td align="right" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2020.</font></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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          <tr>
            <td colspan="7">&#160;</td>
          </tr>
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            <td align="right" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.</font></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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    </div>
    <p style="MARGIN: 0px">&#160;</p>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Date: November 9, 2020</font></p>
    <p align="center"> <img border="0" src="p81951478_2020x26x1.jpg"></p>
    <br>
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            <td align="left"><font size="1" face="Arial,Arial,Helvetica,sans-serif">Authorized Representative</font></td>
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    <p style="MARGIN: 0px">&#160;</p>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond</font></td>
            <td align="left">&#160;</td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-1582 (Ed. 5-98)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 2</font></td>
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            <td rowspan="1" colspan="6" style="text-align: right; vertical-align: middle;">&#160;&#160;&#160;<b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">FEDERAL INSURANCE COMPANY</font></b>&#160;</td>
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            <td rowspan="1" colspan="6" style="text-align: right; vertical-align: middle;">&#160;</td>
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            <td rowspan="1" colspan="6" style="text-align: right; vertical-align: middle;">&#160;&#160;&#160;<font size="2" face="Arial,Arial,Helvetica,sans-serif">Endorsement No.: </font><font size="2" face="Arial,Arial,Helvetica,sans-serif">11</font>&#160;</td>
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">NAME OF ASSURED: DELAWARE FUNDS BY MACQUARIE</font></td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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            <td colspan="6">&#160;</td>
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            <td align="center" colspan="6"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">AMEND DISCOVERY ENDORSEMENT</font></b></td>
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            <td colspan="5" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">It is agreed that this Bond is amended by deleting Section 6., Discovery, in its entirety and substituting the</font></td>
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            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">following:</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">6</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></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" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">This Bond applies only to loss first discovered by the General Counsel or Risk Management of the</font></td>
            <td align="left">&#160;</td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ASSURED during the BOND PERIOD. Discovery occurs at the earlier of the General Counsel or</font></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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            <td align="left">&#160;</td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a.</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">facts which may subsequently result in a loss of a type covered by this Bond, or</font></td>
            <td align="left">&#160;</td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">b.</font></td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">an actual or potential claim in which it is alleged that the ASSURED is liable to a third party,</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">regardless of when the act or acts causing or contributing to such loss occurred, even though the</font></td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">amount of loss does not exceed the applicable DEDUCTIBLE AMOUNT, or the exact amount or</font></td>
            <td align="left">&#160;</td>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">details of loss may not then be known.</font></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>
          </tr>
          <tr>
            <td colspan="6">&#160;</td>
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            <td align="right" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2020.</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr>
            <td colspan="6">&#160;</td>
          </tr>
          <tr>
            <td colspan="6">&#160;</td>
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          <tr valign="bottom">
            <td align="right" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.</font></td>
            <td align="left">&#160;</td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Date: November 9, 2020</font></p>
    <p align="center"> <img border="0" src="p81951478_2020x26x1.jpg"></p>
    <br>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond</font></p>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-6260 (Ed. 6-04)</font></p>
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            <td align="right" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2020.</font></td>
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            <td align="right" colspan="5"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.</font></td>
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    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Date: November 9, 2020</font></p>
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    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond</font></p>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-2335 (Ed. 10-00)</font></p>
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            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">this endorsement/rider: October 31, 2020</font></td>
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            <td align="left">&#160;</td>
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            <td align="left" style="border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
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            <td align="left" rowspan="1">&#160;</td>
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            <td colspan="5" style="text-align: left;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">In consideration of the premium charged, it is agreed that this Bond is amended as follows:</font></td>
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            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">1</font></td>
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            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">The paragraph titled Other Property in Section 9, Valuation, is deleted in its entirety.</font></td>
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            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">2</font></td>
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            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">The third paragraph in Section 16, Change or Modification, is deleted in its entirety and replaced with</font></td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">the following:</font></td>
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            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">If this Bond is for a joint ASSURED, no change or modification which would adversely affect the</font></td>
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            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">rights of the ASSURED shall be effective prior to sixty (60) days after written notice has been</font></td>
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            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">furnished to all insured </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Investment Companies </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">and the Securities and Exchange Commission,</font></td>
            <td align="left">&#160;</td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Washington, D.C., by the COMPANY.</font></td>
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            <td align="left">&#160;</td>
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            <td colspan="5" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">The title and any headings in this endorsement/rider are solely for convenience and form no part of the</font></td>
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            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">terms and conditions of coverage.</font></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">All other terms, conditions and limitations of this Bond shall remain unchanged.</font></td>
            <td align="left">&#160;</td>
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    <p style="MARGIN: 0px">&#160;</p>
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    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">17-02-2437 (12/2006) rev.</font></p>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 1</font></p>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">this endorsement/rider: October 31, 2020</font></td>
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms</font></td>
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    <p style="MARGIN: 0px">&#160;</p>
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    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 1</font></p>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">this endorsement/rider: October 31, 2020</font></td>
            <td colspan="2" style="text-align: right; vertical-align: middle;"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">FEDERAL INSURANCE COMPANY</font></b></td>
          </tr>
          <tr valign="bottom">
            <td rowspan="1" colspan="4" style="text-align: right; vertical-align: middle;">&#160;&#160;<font size="2" face="Arial,Arial,Helvetica,sans-serif">Endorsement/Rider No.</font><font size="2" face="Arial,Arial,Helvetica,sans-serif">15</font></td>
          </tr>
          <tr valign="bottom">
            <td rowspan="1" colspan="4" style="text-align: right; vertical-align: middle;">&#160;&#160;<font size="2" face="Arial,Arial,Helvetica,sans-serif">To be attached to and</font>&#160;</td>
          </tr>
          <tr valign="bottom">
            <td rowspan="1" colspan="4" style="text-align: right; vertical-align: middle;">&#160;&#160;<font size="2" face="Arial,Arial,Helvetica,sans-serif">form a part of Bond No.</font><font size="2" face="Arial,Arial,Helvetica,sans-serif">81951478</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid" colspan="4" rowspan="1"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Issued to: DELAWARE FUNDS BY MACQUARIE</font>&#160;&#160;</td>
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          <tr>
            <td colspan="4">&#160;</td>
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          <tr>
            <td colspan="4">&#160;</td>
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          <tr valign="bottom">
            <td align="center" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">AUTOMATIC INCREASE IN LIMITS ENDORSEMENT</font></td>
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          <tr valign="bottom">
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">In consideration of the premium charged, it is agreed that GENERAL AGREEMENTS, Section C. Additional</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Offices Or Employees-Consolidation, Merger Or Purchase Or Acquisition Of Assets Or Liabilities-Notice To</font></td>
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          <tr valign="bottom">
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Company, is amended by adding the following subsection:</font></td>
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          <tr valign="bottom">
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Automatic Increase in Limits for Investment Companies</font></td>
            <td align="left">&#160;</td>
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          <tr valign="bottom">
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">If an increase in bonding limits is required pursuant to rule 17g-</font><font size="2" face="Arial,Arial,Helvetica,sans-serif">1 of the Investment Company Act
                of 1940 (&#8220;the</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Act&#8221;), due to:</font></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(i)</font></td>
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">the creation of a new </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Investment Company</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">, other than by consolidation or merger with, or purchase or</font></td>
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          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(ii)</font></td>
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">an increase in asset size of current </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Investment Companies </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">covered under this Bond,</font></td>
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          <tr valign="bottom">
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">then the minimum required increase in limits shall take place automatically without payment of additional</font></td>
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          <tr valign="bottom">
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">premium for the remainder of the BOND PERIOD.</font></td>
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          <tr>
            <td colspan="4">&#160;</td>
          </tr>
          <tr>
            <td colspan="4">&#160;</td>
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          <tr valign="bottom">
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms</font></td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">and conditions of coverage.</font></td>
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          </tr>
          <tr>
            <td colspan="4">&#160;</td>
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          <tr valign="bottom">
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">All other terms, conditions and limitations of this Bond shall remain unchanged.</font></td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
    <p align="center"> <img border="0" align="middle" src="p81951478_2020x22x1.jpg"> </p>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">14-02-14098 (04/2008)</font></p>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 1</font></p>
  </div>
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            <td rowspan="1" colspan="6" style="text-align: right; vertical-align: middle;">&#160;&#160;&#160;<b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">FEDERAL INSURANCE COMPANY</font></b>&#160;</td>
          </tr>
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            <td rowspan="1" colspan="6" style="text-align: right; vertical-align: middle;">&#160;</td>
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            <td rowspan="1" colspan="6" style="text-align: right; vertical-align: middle;">&#160;&#160;&#160;<font size="2" face="Arial,Arial,Helvetica,sans-serif">Endorsement No.:</font><font size="2" face="Arial,Arial,Helvetica,sans-serif"> 16 </font><font size="2" face="Arial,Arial,Helvetica,sans-serif">Bond</font></td>
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          </tr>
          <tr>
            <td colspan="6">&#160;</td>
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            <td align="left" style="BORDER-BOTTOM: #000000 1px solid" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">NAME OF ASSURED: DELAWARE FUNDS BY MACQUARIE</font></td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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          </tr>
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            <td colspan="5" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">It is agreed that this Bond is amended by deleting in its entirety General Agreement C., Additional Offices</font></td>
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          </tr>
          <tr valign="bottom">
            <td colspan="5" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">or Employees-Consolidation, Merger or Purchase or Acquisition of Assets or Liabilities-Notice To</font></td>
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          <tr valign="bottom">
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Company, and substituting the following:</font></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">C.</font></td>
            <td colspan="4" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Additional Offices or Employees-Consolidation, Merger or Purchase or Acquisition Of Assets or</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <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 colspan="4" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">consolidates with, or purchases or acquires assets or liabilities of another institution, the ASSURED</font></td>
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          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">shall not have the coverage afforded under this Bond for loss which has:</font></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(1</font></td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">occurred or will occur on premises,</font></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(2</font></td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">been caused or will be caused by an employee, or</font></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">(3</font></td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">arisen or will arise out of the assets or liabilities,</font></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
          </tr>
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            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">of such institution, unless the ASSURED:</font></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">a.</font></td>
            <td align="left">&#160;</td>
            <td colspan="2" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">gives the COMPANY written notice of the proposed consolidation, merger or purchase or</font></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 colspan="2" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">acquisition of assets or liabilities prior to the proposed effective date of such action, and</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">b.</font></td>
            <td align="left">&#160;</td>
            <td colspan="2" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">obtains the written consent of the COMPANY to extend some or all of the coverage provided</font></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 align="left">&#160;</td>
            <td align="left">&#160;</td>
          </tr>
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            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">c.</font></td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">on obtaining such consent, pays to the COMPANY an additional premium.</font></td>
            <td align="left">&#160;</td>
          </tr>
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            <td align="left">&#160;</td>
            <td colspan="4" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Notwithstanding anything stated above to the contrary, the COMPANY hereby agrees to provide</font></td>
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          </tr>
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            <td align="left">&#160;</td>
            <td colspan="4" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">coverage which shall be effective on the date of acquisition under this Bond for those acquired</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td colspan="4" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">institutions in which the ASSURED owns greater than fifty percent (50%) of the voting stock or voting</font></td>
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          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td colspan="4" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">rights either directly or through one or more of its subsidiaries for the remainder of the BOND</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td colspan="4" style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">PERIOD, with no additional premium, provided the acquired institution meets all of the following</font></td>
            <td align="left">&#160;</td>
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            <td align="left">&#160;</td>
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">conditions:</font></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td align="left">&#160;</td>
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">i.</font></td>
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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 align="left">&#160;</td>
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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 align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <td align="left">&#160;</td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
    <div align="left">
      <table cellspacing="0" border="0">

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            <td width="60%"></td>
            <td width="39%"></td>
          </tr>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-6247 (Ed. 3-04)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 1</font></td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
  </div>
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            <td style="text-indent: 0pt; text-align: left; vertical-align: middle; margin-left: 9pt;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">The COMPANY further agrees that as respects any acquisition that involves a State or Federal</font></td>
          </tr>
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          </tr>
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            <td style="text-indent: 0pt; text-align: left; vertical-align: middle; margin-left: 9pt;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">under this Bond for the remainder of the BOND PERIOD as long as conditions i. and ii. above are</font></td>
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          </tr>
          <tr valign="bottom">
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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>
            <td>&#160;</td>
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          <tr>
            <td>&#160;</td>
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          <tr>
            <td>&#160;</td>
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          <tr>
            <td>&#160;</td>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">This Endorsement applies to loss discovered after 12:01 a.m. on October 31, 2020.</font></td>
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          <tr>
            <td>&#160;</td>
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          <tr>
            <td>&#160;</td>
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          <tr>
            <td>&#160;</td>
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          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.</font></td>
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    </div>
    <p style="MARGIN: 0px">&#160;</p>
    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Date: November 9, 2020</font></p>
    <p align="center"> <img border="0" src="p81951478_2020x26x1.jpg"></p>
    <br>
    <div align="left">
      <table cellspacing="0" border="0">

          <tr>
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            <td width="39%"></td>
          </tr>
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            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-6247 (Ed. 3-04)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 2</font></td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
  </div>
  <hr width="100%" noshade="noshade" size="2" align="center">
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            <td rowspan="1" colspan="6" style="text-align: right; vertical-align: middle;">&#160;&#160;&#160;<b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">FEDERAL INSURANCE COMPANY</font></b>&#160;</td>
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          <tr>
            <td colspan="6" style="text-align: right; vertical-align: middle;">&#160;</td>
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          <tr valign="bottom">
            <td rowspan="1" colspan="6" style="text-align: right; vertical-align: middle;">&#160;&#160;&#160;<font size="2" face="Arial,Arial,Helvetica,sans-serif">Endorsement No.:</font><font size="2" face="Arial,Arial,Helvetica,sans-serif"> 17 </font><font size="2" face="Arial,Arial,Helvetica,sans-serif">Bond</font></td>
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          <tr>
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          <tr valign="bottom">
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          <tr>
            <td colspan="6">&#160;</td>
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          <tr>
            <td colspan="6">&#160;</td>
          </tr>
          <tr>
            <td colspan="6">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">NAME OF ASSURED: DELAWARE FUNDS BY MACQUARIE</font></td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
            <td align="left" style="BORDER-BOTTOM: #000000 1px solid">&#160;</td>
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          <tr>
            <td colspan="6">&#160;</td>
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          <tr valign="bottom">
            <td align="center" colspan="6"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">CO-SURETY ENDORSEMENT</font></b></td>
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          <tr>
            <td colspan="6">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left" colspan="4"><font size="2" face="Arial,Arial,Helvetica,sans-serif">It is agreed that this Bond is amended as follows:</font></td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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          <tr>
            <td colspan="6">&#160;</td>
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            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">1</font></td>
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          <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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">&#8220;</font><font size="2" face="Arial,Arial,Helvetica,sans-serif">hh.</font></td>
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            <td align="left">&#160;</td>
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          <tr>
            <td colspan="6">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ii.</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"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Controlling Company</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">, executing this Endorsement.</font></td>
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            <td align="left">&#160;</td>
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          <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"><font size="2" face="Arial,Arial,Helvetica,sans-serif">jj.</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"><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Controlling Company</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">, executing this Endorsement.&#8221;</font></td>
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            <td align="left">&#160;</td>
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          <tr>
            <td colspan="6">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">2</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">By adding to Section 5., Limit of Liability/Non-Reduction and Non-Accumulation of Liability, the</font></td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">following:</font></td>
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            <td align="left">&#160;</td>
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          <tr>
            <td colspan="6">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">&#8220;Each COMPANY shall be liable only for such proportion of any </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Single Loss </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">as the LIMIT OF</font></td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">LIABILITY underwritten by such </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Company</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">, as specified in this Endorsement, bears to the LIMIT OF</font></td>
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          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
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            <td align="left">&#160;</td>
          </tr>
          <tr>
            <td colspan="6">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">3</font></td>
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            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">By adding to Section 7., Notice To Company-Proof-Legal Proceedings Against Company, the following:</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 align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">&#8220;</font><font size="2" face="Arial,Arial,Helvetica,sans-serif">g.</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" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Bond may be paid to the </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Controlling Company </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">for the account of all </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Companies</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">.</font></td>
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          <tr>
            <td colspan="6">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">h.</font></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 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>
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          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td style="text-align: left; vertical-align: middle;"><font size="2" face="Arial,Arial,Helvetica,sans-serif">conditions.&#8221;</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="right"><font size="2" face="Arial,Arial,Helvetica,sans-serif">4</font></td>
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            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">By adding to Section 13., Termination, the following:</font></td>
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            <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" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">&#8220;The </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Controlling Company </font></b><font size="2" 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>
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            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
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            <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>
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            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</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 align="left">&#160;</td>
            <td align="left" colspan="2"><font size="2" face="Arial,Arial,Helvetica,sans-serif">entity.</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 align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">In the absence of a request from any </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Company </font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">that notice of termination by the ASSURED of this</font></td>
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          </tr>
          <tr valign="bottom">
            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
            <td align="left" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Bond in its entirety may be given to or filed directly with it, the giving of such notice in accordance with</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <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" colspan="3"><font size="2" face="Arial,Arial,Helvetica,sans-serif">entirety. The ASSURED may terminate the entire liability of any </font><b><font size="2" face="Arial,Bold,Arial,Helvetica,sans-serif">Company</font></b><font size="2" face="Arial,Arial,Helvetica,sans-serif">, under this Bond by giving</font></td>
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          </tr>
          <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>
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            <td align="left">&#160;</td>
            <td align="left">&#160;</td>
          </tr>

      </table>
    </div>
    <p style="MARGIN: 0px">&#160;</p>
    <div align="left">
      <table cellspacing="0" border="0">

          <tr>
            <td width="60%"></td>
            <td width="39%"></td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">ICAP Bond</font></td>
            <td align="left">&#160;</td>
          </tr>
          <tr valign="bottom">
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 17-02-2836 (Ed. 5-02)</font></td>
            <td align="left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Page 1</font></td>
          </tr>

      </table>
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    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Date: November 9, 2020</font></p>
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          <tr>
            <td>&#160;</td>
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          <tr>
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    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">Form 14-02-12160 (ed. 7/2006)</font></p>
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          <tr>
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          </tr>
          <tr>
            <td>&#160;</td>
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          <tr>
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          </tr>
          <tr valign="bottom">
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    <p style="TEXT-ALIGN: left"><font size="2" face="Arial,Arial,Helvetica,sans-serif">10-02-1295 (ed. 6/2007)</font></p>
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">THIS JOINT INSURANCE AGREEMENT, dated as of October 31, 2020, is by and among the funds comprising the Delaware Funds by Macquarie
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        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="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> <br>
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">NOW, THEREFORE, IT IS HEREBY AGREED by and among the parties hereto as follows:</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><u>ALLOCATION OF PROCEEDS</u></font></div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">a.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#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>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">b.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#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
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        such parties as follows:</font></div>
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          <td style="width: 36pt; vertical-align: top; align: right;">(1)</td>
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            <div>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".</div>
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          <td style="width: 36pt; vertical-align: top; align: right;">(2)</td>
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            <div>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.</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.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><u>ALLOCATION OF PREMIUMS</u></font></div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">a.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#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>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">3.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><u>BOND COVERAGE REQUIREMENTS AND CHANGES</u></font></div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">a.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#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>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">b.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#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>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">4.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><u>ADDITION OF NEW FUNDS AND OTHER ENTITIES</u></font></div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">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="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> 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>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">5.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><u>TERM OF AGREEMENT</u></font></div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">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>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">6.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><u>DISPUTES</u></font></div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">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>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">7.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><u>GOVERNING LAW</u></font></div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">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="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">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="text-align: left; margin-left: 180pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">DELAWARE FUNDS BY MACQUARIE on behalf of those Funds listed</div>
    <div style="text-align: justify; text-indent: 180pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">on Attachment I</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 180pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">By:&#160; <u>/s/ Shawn Lytle</u></div>
    <div style="text-align: justify; text-indent: 180pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Shawn Lytle</div>
    <div style="text-align: justify; text-indent: 180pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;President</div>
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">ATTACHMENT I TO JOINT INSURANCE</div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">AGREEMENT DATED AS OF OCTOBER 19, 2020</div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">DELAWARE FUNDS BY MACQUARIE</div>
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            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">FUND</div>
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            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Adviser Funds</div>
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            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Diversified Income Fund</div>
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            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware U.S. Growth Fund</div>
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            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Cash Reserve</div>
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            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Investments Ultrashort Fund</div>
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            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Mid Cap Value Fund</div>
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            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Value<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Fund</div>
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            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Equity Funds IV</div>
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            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Investment Grade Fund</div>
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            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Strategic Income II Fund</div>
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            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Equity Funds V</div>
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            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Small Cap Core Fund</div>
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            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Wealth Builder Fund</div>
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        <tr>
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          <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Foundation Funds</div>
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          <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Strategic Allocation Fund</div>
          </td>
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          <td style="vertical-align: top; width: 100%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Global &amp; International Funds</div>
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          <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Emerging Markets Fund</div>
          </td>
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          <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Global Value Fund</div>
          </td>
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          <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware International Small Cap Fund</div>
          </td>
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          <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware International Value Equity Fund</div>
          </td>
        </tr>
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          <td style="width: 100%; vertical-align: top; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);">&#160;</td>
        </tr>

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          <tr>
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              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">FUND</div>
            </td>
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              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Government Fund</div>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Emerging Markets Debt Corporate Fund</div>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Strategic Income Fund</div>
            </td>
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            <td style="vertical-align: top; width: 100%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Income Funds</div>
            </td>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Corporate Bond Fund</div>
            </td>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Extended Duration Bond Fund</div>
            </td>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Floating Rate Fund</div>
            </td>
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            <td style="vertical-align: top; width: 100%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware High-Yield Opportunities Fund</div>
            </td>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Limited-Term Government Funds</div>
            </td>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Limited-Term Diversified Income Fund</div>
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Tax-Exempt Income Fund</div>
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Tax-Exempt Opportunities fund</div>
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Tax-Free California II Fund</div>
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Tax-Free New Jersey Fund</div>
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Tax-Free New York II Fund</div>
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Tax-Free Oregon Fund</div>
            </td>
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            <td style="vertical-align: top; width: 100%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> State Tax-Free Income Trust</div>
            </td>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Tax-Free Pennsylvania Fund</div>
            </td>
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          <tr>
            <td style="vertical-align: top; width: 100%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Tax-Free Fund</div>
            </td>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Tax-Free USA Fund</div>
            </td>
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          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Tax-Free USA Intermediate Fund</div>
            </td>
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            <td style="vertical-align: top; width: 100%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Pooled<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Trust</div>
            </td>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Macquarie Core Plus Bond Portfolio</div>
            </td>
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          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Macquarie Emerging Markets Portfolio</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Macquarie High Yield Bond Portfolio</div>
            </td>
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          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Macquarie Labor Select International Equity Portfolio</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Macquarie Large Cap Value Portfolio</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Global Listed Real Assets Fund</div>
            </td>
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          <tr>
            <td style="vertical-align: top; width: 100%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware VIP<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Trust<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">5</sup></div>
            </td>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Diversified Income Series</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Emerging Markets Series</div>
            </td>
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          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> High Yield Series</div>
            </td>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> International Value Equity Series</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="text-indent: -12pt; margin-left: 12pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Limited-Term Diversified Income Series</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> REIT Series</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Small Cap Value Series</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Smid Cap Core Series</div>
            </td>
          </tr>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> U.S. Growth Series</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 100%; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Value Series</div>
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>Covered Call Strategy Series</div>
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>Fund for Income Series</div>
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>Growth Equity Series</div>
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>Equity Income Series</div>
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>Government Cash Management Series</div>
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>Growth and Income Series</div>
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>Opportunity Series</div>
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>Limited Duration Bond Series</div>
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>Special Situations Series</div>
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> International Series</div>
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>Total Return Series</div>
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>Investment Grade Series</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
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    <div>
      <table cellspacing="0" cellpadding="0" border="0" id="z4c317c166d4c41698038cd315a6966c9" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="vertical-align: top; width: 100%; text-align: center; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="2" rowspan="1">&#160;<font style="font-weight: bold;">FUND</font></td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Voyageur Insured Funds</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-indent: 7.5pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free Arizona Fund</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 100%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="2">&#160;</td>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Voyageur Intermediate Tax Free Funds</div>
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              <div style="text-indent: 7.5pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free Minnesota Intermediate Fund</div>
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          <tr>
            <td style="vertical-align: top; width: 100%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="2">&#160;</td>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Voyageur Mutual Funds</div>
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          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-indent: 7.5pt; font-family: 'Times New Roman', Times, serif;">Delaware Minnesota High-Yield Municipal Bond Fund</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-indent: 7.5pt; font-family: 'Times New Roman', Times, serif;">Delaware National High-Yield Municipal Bond Fund</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-indent: 7.5pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free California Fund</div>
            </td>
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          <tr>
            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-indent: 7.5pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free Idaho Fund</div>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-indent: 7.5pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free New York Fund</div>
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          <tr>
            <td style="vertical-align: top; width: 100%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="2">&#160;</td>
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              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Voyageur Mutual Funds II</div>
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            <td style="width: 100%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-indent: 7.5pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free Colorado Fund</div>
            </td>
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          <tr>
            <td style="vertical-align: top; width: 100%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="2">&#160;</td>
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          <tr>
            <td style="width: 99.85%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Voyageur Mutual Funds III</div>
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            <td style="width: 0.15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td style="width: 99.85%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Select Growth Fund</div>
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            <td style="width: 0.15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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            <td style="vertical-align: top; width: 99.85%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 0.15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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            <td style="width: 99.85%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Voyageur Tax Free Funds</div>
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            <td style="width: 0.15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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            <td style="width: 99.85%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;Delaware Tax-Free Minnesota Fund</div>
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            <td style="width: 0.15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td style="vertical-align: top; width: 99.85%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 0.15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td style="width: 99.85%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Enhanced Global Dividend and Income Fund</div>
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            <td style="width: 0.15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td style="vertical-align: top; width: 99.85%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 0.15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td style="width: 99.85%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Investments Dividend and Income Fund, Inc.</div>
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            <td style="width: 0.15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td style="width: 99.85%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 0.15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td style="width: 99.85%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Investments Colorado Municipal Income Fund, Inc.</div>
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            <td style="width: 0.15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td style="vertical-align: top; width: 99.85%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 0.15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td style="width: 99.85%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Investments Minnesota Municipal Income Fund II, Inc.</div>
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            <td style="width: 0.15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td style="vertical-align: top; width: 99.85%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 0.15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td style="width: 99.85%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Investments National Municipal Income Fund</div>
            </td>
            <td style="width: 0.15%; vertical-align: top; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);"><br>
            </td>
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        <div>
          <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">ATTACHMENT II TO JOINT INSURNACE</div>
          <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">AGREEMENT DATED AS OF OCTOBER 19, 2020</div>
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">
      <table cellspacing="0" cellpadding="0" border="0" id="zdadc3f88184c4232837fd6a284e6e717" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

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              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">FUND</div>
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            <td style="width: 40.91%; vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Minimum Amount of Fidelity Bond Coverage (000&#8217;s)</div>
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              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Adviser Funds</div>
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            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Diversified Income Fund</div>
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            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">2,500</div>
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          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware U.S. Growth Fund</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Cash Reserve</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Investments Ultrashort fund</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">450</div>
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          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Equity Funds I</div>
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            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Mid Cap Value Fund</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">400</div>
            </td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Equity Funds II</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Value<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Fund</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">2,500</div>
            </td>
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          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Equity Funds IV</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Healthcare Fund</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">2,500</div>
            </td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Smid Cap Growth Fund</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Small Cap Growth Fund</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Covered Call Strategy Fund</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Equity Income Fund</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Global Equity Fund</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Growth and Income Fund</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Hedged U.S. Equity Opportunities Fund</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware International Fund</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Opportunity Fund</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Premium Income Fund</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Growth Equity Fund</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Special Situations Fund</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Total Return Fund</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Floating Rate II Fund</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Fund for Income</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Government Cash Management Fund</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware International Opportunities Bond Fund</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Investment Grade Fund</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Limited Duration Bond Fund</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Strategic Income II Fund</div>
              <div>&#160;</div>
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            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Equity Funds V</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Wealth Builder Fund</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Small Cap Core Fund</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">2,500</div>
            </td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Small Cap Value Fund</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Foundation Funds<br>
                &#160;(Delaware Foundation Funds<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup>)</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Strategic Allocation Fund</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">600</div>
            </td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Global &amp; International Funds</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Emerging Markets Fund</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware International Small Cap Fund</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">2,500</div>
            </td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware International Value Equity Fund</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Government Fund</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Emerging Markets Debt Corporate Fund</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Strategic Income Fund</div>
            </td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">525</div>
            </td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 40.91%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 59.09%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 40.91%; vertical-align: top; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);">&#160;</td>
          </tr>

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        <div>
          <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">ATTACHMENT II TO JOINT INSURNACE</div>
          <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">AGREEMENT DATED AS OF OCTOBER 19, 2020</div>
        </div>
      </div>
    </div>
    <div> </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">DELAWARE FUNDS BY MACQUARIE</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" id="za9b0d82ec71e44d28895fa2477257971" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

        <tr>
          <td style="width: 57.95%; vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">FUND</div>
          </td>
          <td style="width: 42.05%; vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Minimum Amount of Fidelity Bond Coverage (000&#8217;s)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Income Funds</div>
          </td>
          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 57.95%; vertical-align: middle; text-align: center; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div>Delaware Corporate Bond Fund<br>
            </div>
            <div> Delaware Extended Duration Bond Fund<br>
            </div>
            <div> Delaware Floating Rate Fund<br>
            </div>
            <div> Delaware High-Yield Opportunities Fund<br>
            </div>
          </td>
          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">1,700</div>
          </td>
        </tr>
        <tr>
          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Limited-Term Government Funds</div>
          </td>
          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware Limited-Term Diversified Income Fund</div>
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Exempt Income Fund</div>
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Exempt Opportunities Fund</div>
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free California Fund</div>
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free New Jersey Fund</div>
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free New York II Fund</div>
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free Oregon Fund</div>
          </td>
          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">1,500</div>
          </td>
        </tr>
        <tr>
          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> State Tax-Free Income Trust</div>
          </td>
          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free Pennsylvania Fund</div>
          </td>
          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">750</div>
          </td>
        </tr>
        <tr>
          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Group<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Tax-Free Fund</div>
          </td>
          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free USA Fund</div>
          </td>
          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">1,250</div>
          </td>
        </tr>
        <tr>
          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free USA Intermediate Fund</div>
          </td>
          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Pooled<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Trust</div>
          </td>
          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div>Macquarie Core Plus Bond Portfolio</div>
            <div style="font-size: 12pt;"><font style="font-size: 10pt;"> </font>
              <div style="font-size: 10pt;">Macquarie Emerging Markets Portfolio</div>
              <div>
                <div style="font-size: 10pt;">Macquarie Emerging Markets Portfolio II</div>
                <div>
                  <div style="font-size: 10pt;">Macquarie High Yield Bond Portfolio</div>
                  <div><font style="font-size: 10pt;"> </font>
                    <div style="font-size: 10pt;">Macquarie Labor Select International Equity Portfolio</div>
                    <div>
                      <div style="font-size: 10pt;">Macquarie Large Cap Value Portfolio</div>
                      <div>
                        <div style="font-size: 10pt;">Delaware Global Listed Real Assets Fund</div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </td>
          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">1,000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware VIP<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Trust</div>
          </td>
          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Diversified Income Series</div>
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          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Emerging Markets Series</div>
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          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> High Yield Series</div>
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          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> International Value Equity Series</div>
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          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">2,500</div>
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        <tr>
          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Limited-Term Diversified Income Series</div>
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          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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        <tr>
          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> REIT Series</div>
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          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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        <tr>
          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Small Cap Value Series</div>
          </td>
          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <td style="width: 57.95%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Smid Cap Core Series</div>
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          <td style="width: 42.05%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> U.S. Growth Series</div>
          </td>
          <td style="width: 42.05%; vertical-align: top; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);">&#160;</td>
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        <div>
          <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">ATTACHMENT II TO JOINT INSURNACE</div>
          <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">AGREEMENT DATED AS OF OCTOBER 19, 2020</div>
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    <br>
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            <div style="text-align: center; font-weight: bold;">Minimum Amount of Fidelity Bond Coverage (000&#8217;s)</div>
          </td>
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            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Value Series</div>
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>Covered Call Strategy Series</div>
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>Fund for Income Series</div>
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Growth Equity Series</div>
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Equity Income Series</div>
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Government Cash Management Series</div>
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Growth and Income Series</div>
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Opportunity Series</div>
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Limited Duration Bond Series</div>
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>Special Situations Series</div>
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>International Series</div>
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>Total Return Series</div>
            <div style="text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware VIP<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>Investment Grade Series</div>
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          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div>&#160;</div>
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Voyageur Insured Funds</div>
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          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free Arizona Fund</div>
          </td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">450</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Voyageur Intermediate Tax Free Funds</div>
          </td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free Minnesota Intermediate Fund</div>
          </td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">450</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
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        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div>&#160;</div>
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Voyageur Mutual Funds</div>
          </td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware Minnesota High-Yield Municipal Bond Fund</div>
          </td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware National High-Yield Municipal Bond Fund</div>
          </td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free California Fund</div>
          </td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">1,500</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free Idaho Fund</div>
          </td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free New York Fund</div>
          </td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Voyageur Mutual Funds II</div>
          </td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; text-indent: 6pt; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free Colorado Fund</div>
          </td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">600</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div>&#160;</div>
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Voyageur Mutual Funds III</div>
          </td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Select Growth Fund</div>
          </td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">750</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Voyageur Tax Free Funds</div>
          </td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Delaware Tax-Free Minnesota Fund</div>
          </td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">900</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Enhanced Global Dividend and Income Fund</div>
          </td>
          <td style="vertical-align: top; width: 42.05%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div>&#160;</div>
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">525</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 57.95%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
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            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware Investments National Municipal Income Fund</div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
