<SEC-DOCUMENT>0001072613-20-000389.txt : 20201130
<SEC-HEADER>0001072613-20-000389.hdr.sgml : 20201130
<ACCEPTANCE-DATETIME>20201130163552
ACCESSION NUMBER:		0001072613-20-000389
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20201130
DATE AS OF CHANGE:		20201130
GROUP MEMBERS:		ARTHUR CHARLES REGAN
GROUP MEMBERS:		DANIEL C. ROBESON

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DTF TAX-FREE INCOME INC
		CENTRAL INDEX KEY:			0000879535
		IRS NUMBER:				363793962
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-84451
		FILM NUMBER:		201358499

	BUSINESS ADDRESS:	
		STREET 1:		200 SOUTH WACKER DRIVE
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		800-263-2610

	MAIL ADDRESS:	
		STREET 1:		200 S. WACKER DRIVE
		STREET 2:		SUITE 500
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DUFF & PHELPS UTILITIES TAX FREE INCOME INC
		DATE OF NAME CHANGE:	19920929

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Karpus Management, Inc.
		CENTRAL INDEX KEY:			0001048703
		IRS NUMBER:				161290550
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		183 SULLY'S TRAIL
		CITY:			PITTSFORD
		STATE:			NY
		ZIP:			14534
		BUSINESS PHONE:		5855864680

	MAIL ADDRESS:	
		STREET 1:		183 SULLY'S TRAIL
		CITY:			PITTSFORD
		STATE:			NY
		ZIP:			14534

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KARPUS MANAGEMENT INC
		DATE OF NAME CHANGE:	19971029
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>karpus-sch13da2_18443.htm
<DESCRIPTION>KARPUS INVESTMENT MANAGEMENT / DTF TAX-FREE INCOME INC. -- 13DA(2)
<TEXT>
<HTML>
<HEAD>
<TITLE>Schedule 13D</TITLE>
</HEAD>

<BODY BGCOLOR="#FFFFFF" STYLE="Font: 9pt Arial, Helvetica, Sans-Serif">

<P STYLE="text-align: center; font-weight: bold; margin-bottom: 0pt; margin-top: 0pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="text-align: center; font-weight: bold; margin-bottom: 0pt; margin-top: 0pt"></P>

<P STYLE="text-align: center; font-weight: bold; margin-bottom: 0pt; margin-top: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="text-align: center; font-weight: bold; margin-bottom: 0pt; margin-top: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">UNITED
STATES</FONT></P>

<P STYLE="text-align: center; font-weight: bold; margin-bottom: 0pt; margin-top: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">SECURITIES
AND EXCHANGE COMMISSION</FONT></P>

<P STYLE="text-align: center; font-weight: bold; margin-top: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Washington,
D.C. 20549</FONT></P>

<P ALIGN="CENTER" STYLE="Font-Weight: Bold; Font-Size: 12pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="text-align: center; font-weight: bold; font-size: 12pt"></P>

<P STYLE="margin-bottom: 0pt; text-align: center; font-weight: bold; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">SCHEDULE
13D/A</FONT></P>

<P STYLE="margin-top: 0; text-align: center; font-weight: bold; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Rule
13d-101)&nbsp;</FONT></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin-top: 0pt; text-align: center; font-weight: bold; font-size: 12pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; text-align: center; font-weight: bold; margin-bottom: 0pt"></P>

<P STYLE="text-align: center; margin-bottom: 0pt; color: rgb(0, 0, 0); font: 400 10pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Times New Roman, Times, Serif">INFORMATION
TO BE INCLUDED IN STATEMENTS FILED PURSUANT</FONT></P>

<P STYLE="margin-top: 0; font: 400 10pt Times New Roman, Times, Serif; text-align: center; margin-bottom: 0pt; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Times New Roman, Times, Serif">TO
&sect;&nbsp;240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO</FONT></P>

<P STYLE="margin-top: 0; font: 400 10pt Times New Roman, Times, Serif; text-align: center; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Times New Roman, Times, Serif">&sect;&nbsp;240.13d-2(a)</FONT></P>



<P STYLE="margin-top: 0pt; text-align: center; font-weight: bold; margin-bottom: 0pt"></P>

<P STYLE="text-align: center; font-weight: bold; margin-top: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Amendment
No. 2) <SUP>1</SUP></FONT></P>

<P STYLE="text-align: center; font-weight: bold; margin-top: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: center; font-weight: bold; margin-top: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


<P STYLE="text-align: center; border-bottom: #000000 1px solid; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt; font-style: normal; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"><B>DTF
Tax-Free Income Inc. (DTF)</B></FONT></P>
<P ALIGN="CENTER" STYLE="Margin-Top: 0; Margin-Bottom: 15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name
of Issuer)</FONT></P>

<P STYLE="text-align: center; border-bottom: #000000 1px solid; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Common
Stock</B></FONT></P>
<P ALIGN="CENTER" STYLE="Margin-Top: 0; Margin-Bottom: 15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Title
of Class of Securities)</FONT></P>

<P STYLE="text-align: center; border-bottom: #000000 1px solid; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"><B>23334J107</B></FONT></P>
<P ALIGN="CENTER" STYLE="Margin-Top: 0; Margin-Bottom: 15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(CUSIP
Number)</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px"><B>Daniel
L. Lippincott, CFA, Senior Tax-Sensitive Manager</B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px"><B>Karpus
Management, Inc.</B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px"><B>d/b/a
Karpus Investment Management</B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px"><B>183
Sully&rsquo;s Trail</B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px"><B>Pittsford,
New York 14534</B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px"><B>(585)
586-4680</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Adam
W. Finerman, Esq.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Olshan
Frome Wolosky LLP</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>1325
Avenue of the Americas</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>New
York, New York 10019</B></FONT></P>

<P STYLE="text-align: center; margin-top: 0; font: 10pt/115% Times New Roman, Times, Serif; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(212)
451-2300</B></FONT></P>



<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>



<P STYLE="border-bottom: #000000 1px solid; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>
<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name,
Address and Telephone Number of Person</FONT></P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authorized
to Receive Notices and Communications)</FONT></P>

<P STYLE="text-align: center; border-bottom: #000000 1px solid; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>November
23, 2020</B></FONT></P>
<P ALIGN="CENTER" STYLE="Margin-Top: 0; Margin-Bottom: 15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Date
of Event which Requires Filing of this Statement)</FONT></P>

<P STYLE="Padding-Right: 25pt; Padding-Left: 25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="padding-right: 25pt; padding-left: 25pt"></P>

<P STYLE="text-align: justify; padding-right: 25pt; padding-left: 25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the filing person has previously filed a statement on Schedule&nbsp;13G to report the acquisition that is the subject of this
Schedule&nbsp;13D, and is filing this schedule because of &sect;&sect;240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following
box. <FONT STYLE="background-color: Silver">&#9746;</FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="text-align: justify; padding-right: 25pt; padding-left: 25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Note</I></B><I>:
</I>Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See
&sect;240.13d-7 for other parties to whom copies are to be sent.</FONT></P>

<P STYLE="margin-bottom: 3; text-align: justify; padding-right: 25pt; padding-left: 25pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">_______________________&nbsp;</FONT></P>

<P STYLE="text-align: justify; padding-right: 25pt; padding-left: 25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1
</SUP>The remainder of this cover page shall be filled out for a reporting person&rsquo;s initial filing on this form with respect
to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided
in a prior cover page.</FONT></P>

<P STYLE="text-align: justify; padding-right: 25pt; padding-left: 25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
information required on the remainder of this cover page shall not be deemed to be &ldquo;filed&rdquo; for the purpose of Section&nbsp;18
of the Securities Exchange Act of 1934 (&ldquo;Act&rdquo;) or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the <I>Notes</I>).</FONT></P>

<P STYLE="margin-left: -30pt; padding-right: 25pt; padding-left: 25pt"></P>



<P STYLE="margin-left: -30pt; padding-right: 25pt; padding-left: 25pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 12pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin-left: -30pt; padding-right: 25pt; padding-left: 25pt"></P>





<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

<P STYLE="text-align: left; font-weight: bold; margin-top: 6pt; margin-bottom: 6pt"></P>



<TABLE CELLPADDING="5" CELLSPACING="0" STYLE="border-collapse: collapse; font: 9pt Arial, Helvetica, Sans-Serif; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border: Black 1pt solid; text-align: left; width: 33%; vertical-align: middle"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CUSIP
                                         No.&nbsp;&#9;23334J107</B></FONT></P>



</TD>
    <TD STYLE="text-align: center; width: 34%; vertical-align: middle"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>13D</B></FONT></TD>
    <TD STYLE="border: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; text-align: right; width: 33%; vertical-align: middle"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Page
    2 of 8 Pages&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="3" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="TOP">
    <TD STYLE="border-top: #000000 1px solid; border-left: Black 1pt solid; border-bottom: Black 1px solid; text-align: right; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">1.</FONT></TD>
    <TD STYLE="border-top: #000000 1px solid; border-right: Black 1pt solid; border-bottom: Black 1px solid; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-top: #000000 1px solid; text-indent: 5pt; border-bottom: #000000 1px solid; width: 87%"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NAME
                                         OF REPORTING PERSON</FONT></P>
                                                                                <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                                                <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"><B>Karpus
                                         Investment Management</B></FONT></P>
                                                                                <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="border-top: #000000 1px solid; border-bottom: #000000 1px solid; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-top: #000000 1px solid; border-right: Black 1pt solid; border-bottom: Black 1px solid; width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1px solid; border-left: Black 1pt solid; vertical-align: top; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">2.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt; vertical-align: top"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK
                                         THE APPROPRIATE BOX IF A MEMBER OF A GROUP</FONT></P>
                                                              <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: White">&nbsp;</FONT></P>
                                                              <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: White">&nbsp;</FONT></P>
                                                              <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: White">&nbsp;</FONT></P>
                                                              <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"></P>
                                                              <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; margin-top: 0pt; margin-bottom: 0pt; vertical-align: top"><P STYLE="margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)
                                         <FONT STYLE="background-color: Silver">&#9746;</FONT></FONT></P>
                                                                                                                                                          <P STYLE="margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)
                                         <FONT STYLE="background-color: Silver">&#9744;</FONT></FONT></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(213,213,213)">
    <TD STYLE="border-bottom: Black 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">3.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SEC
                                         USE ONLY</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: Black 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">4.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SOURCE
                                         OF FUNDS</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WC</B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: Black 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">5.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK
                                         BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<FONT STYLE="background-color: Silver">&#9744;</FONT></FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: Black 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">6.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CITIZENSHIP
                                         OR PLACE OF ORGANIZATION</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>New
                                         York</B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B>&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="3" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR>
    <TD STYLE="border-left: Black 1pt solid; width: 14%"></TD>
    <TD STYLE="width: 3%"></TD>
    <TD STYLE="border-left: Black 1pt solid; width: 2%"></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 3%"></TD>
    <TD STYLE="border-right: Black 1pt solid; text-indent: 5pt; width: 78%"></TD></TR>
<TR VALIGN="TOP">
    <TD ROWSPAN="4" STYLE="border-bottom: #000000 1px solid; vertical-align: middle; text-align: center; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NUMBER
    OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH</B></FONT></TD>
    <TD VALIGN="BOTTOM"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<FONT STYLE="font-size: 16pt">7.</FONT></FONT></P></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-indent: 5pt; border-bottom: #000000 1px solid"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SOLE
                                         VOTING POWER</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"><B>2,044,912
                                         </B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares</FONT></B></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD></TR>
<TR VALIGN="TOP">
    <TD VALIGN="BOTTOM"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">8.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-indent: 5pt; border-bottom: #000000 1px solid"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SHARED
                                         VOTING POWER</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>0
                                         Shares</B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD></TR>
<TR VALIGN="TOP">
    <TD VALIGN="BOTTOM"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">9.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-indent: 5pt; border-bottom: #000000 1px solid"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SOLE
                                         DISPOSITIVE POWER</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2,044,912
                                         </B></FONT><B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Shares</B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD></TR>
<TR VALIGN="TOP">
    <TD VALIGN="BOTTOM" STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">10.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-indent: 5pt; border-bottom: #000000 1px solid"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SHARED
                                         DISPOSITIVE POWER</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>0
                                         Shares</B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="3" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
    <TD STYLE="border-left: Black 1pt solid; width: 3%"></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 3%"></TD>
    <TD STYLE="text-indent: 5pt; width: 87%"></TD>
    <TD STYLE="width: 1%"></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 6%"></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">11.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AGGREGATE
                                         AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2,044,912
                                         Shares</B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">12.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK
                                         BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</FONT></P>
                                                 <P STYLE="text-indent: 10pt; text-align: right; margin-top: 0; margin-bottom: 0"></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<FONT STYLE="background-color: Silver">&#9744;</FONT></FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">13.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PERCENT
                                         OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>24%</B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<FONT STYLE="font-size: 16pt">14.</FONT></FONT></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TYPE
                                         OF REPORTING PERSON</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>IA</B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>




<P STYLE="text-indent: -20pt; margin-left: 20pt; text-align: left; font-style: normal; font-weight: normal; margin-top: 6pt; margin-bottom: 6pt"></P>

<P STYLE="text-align: left; font-weight: bold; margin-top: 6pt; margin-bottom: 6pt"></P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="border-bottom: Black 1pt solid; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

<TABLE CELLPADDING="5" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border: Black 1pt solid; text-align: left; vertical-align: middle; width: 33%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CUSIP
                                         No.&#9;&nbsp;23334J107</B></FONT></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 34%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>13D</B></FONT></TD>
    <TD STYLE="border: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; text-align: right; vertical-align: middle; width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Page
    3 of 8 Pages&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="3" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="TOP">
    <TD STYLE="border-top: #000000 1px solid; border-bottom: Black 1px solid; border-left: Black 1pt solid; text-align: right; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">1.</FONT></TD>
    <TD STYLE="border-top: #000000 1px solid; border-right: Black 1pt solid; border-bottom: Black 1px solid; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-top: #000000 1px solid; border-bottom: #000000 1px solid; text-indent: 5pt; width: 87%"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NAME
                                         OF REPORTING PERSON</FONT></P>
                                                                                                              <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                                                <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; text-transform: none; letter-spacing: normal; word-spacing: 0px"><B>Arthur
                                         Charles Rega</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">n</FONT></B></P>
                                                                                <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="border-top: #000000 1px solid; border-bottom: #000000 1px solid; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-top: #000000 1px solid; border-right: Black 1pt solid; border-bottom: Black 1px solid; width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1px solid; border-left: Black 1pt solid; vertical-align: top; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">2.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt; vertical-align: top"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK
                                         THE APPROPRIATE BOX IF A MEMBER OF A GROUP</FONT></P>
                                                              <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: White">&nbsp;</FONT></P>
                                                              <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: White">&nbsp;</FONT></P>
                                                              <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: White">&nbsp;</FONT></P>
                                                              <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"></P>
                                                              <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; margin-top: 0pt; margin-bottom: 0pt; vertical-align: top"><P STYLE="margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)
                                         <FONT STYLE="background-color: Silver">&#9746;</FONT></FONT></P>
                                                                                                                                                          <P STYLE="margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)
                                         <FONT STYLE="background-color: Silver">&#9744;</FONT></FONT></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(213,213,213)">
    <TD STYLE="border-bottom: Black 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">3.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SEC
                                         USE ONLY</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: Black 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">4.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SOURCE
                                         OF FUNDS</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B></B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: Black 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">5.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK
                                         BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<FONT STYLE="background-color: Silver">&#9744;</FONT></FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: Black 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">6.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CITIZENSHIP
                                         OR PLACE OF ORGANIZATION</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>USA</B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B>&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="3" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR>
    <TD STYLE="border-left: Black 1pt solid; width: 14%"></TD>
    <TD STYLE="width: 3%"></TD>
    <TD STYLE="border-left: Black 1pt solid; width: 2%"></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 3%"></TD>
    <TD STYLE="border-right: Black 1pt solid; text-indent: 5pt; width: 78%"></TD></TR>
<TR VALIGN="TOP">
    <TD ROWSPAN="4" STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; vertical-align: middle; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NUMBER
    OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH</B></FONT></TD>
    <TD VALIGN="BOTTOM"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<FONT STYLE="font-size: 16pt">7.</FONT></FONT></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SOLE
                                         VOTING POWER</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>0
                                         Shares </B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD></TR>
<TR VALIGN="TOP">
    <TD VALIGN="BOTTOM"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">8.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SHARED
                                         VOTING POWER</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>0
                                         Shares </B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD></TR>
<TR VALIGN="TOP">
    <TD VALIGN="BOTTOM"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">9.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SOLE
                                         DISPOSITIVE POWER</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>0
                                         Shares </B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD></TR>
<TR VALIGN="TOP">
    <TD VALIGN="BOTTOM" STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">10.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SHARED
                                         DISPOSITIVE POWER</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>0
                                         Shares </B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="3" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
    <TD STYLE="border-left: Black 1pt solid; width: 3%"></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 3%"></TD>
    <TD STYLE="text-indent: 5pt; width: 87%"></TD>
    <TD STYLE="width: 1%"></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 6%"></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">11.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AGGREGATE
                                         AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>0
                                         Shares </B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">12.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK
                                         BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</FONT></P>
                                                 <P STYLE="text-indent: 10pt; text-align: right; margin-top: 0; margin-bottom: 0"></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<FONT STYLE="background-color: Silver">&#9744;</FONT></FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">13.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PERCENT
                                         OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>0.00%</B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<FONT STYLE="font-size: 16pt">14.</FONT></FONT></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TYPE
                                         OF REPORTING PERSON</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>IN</B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>




<P STYLE="text-indent: -20pt; margin-left: 20pt; text-align: left; font-style: normal; font-weight: normal; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="border-bottom: Black 1pt solid; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

<TABLE CELLPADDING="5" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border: Black 1pt solid; text-align: left; vertical-align: middle; width: 33%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>CUSIP
                                         No.&#9;&nbsp;23334J107</B></FONT></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 34%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>13D</B></FONT></TD>
    <TD STYLE="border: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; text-align: right; vertical-align: middle; width: 33%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Page
    4 of 8 Pages&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="3" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="TOP">
    <TD STYLE="border-top: #000000 1px solid; border-bottom: Black 1px solid; border-left: Black 1pt solid; text-align: right; width: 3%"><FONT STYLE="font: 16pt Times New Roman, Times, Serif">1.</FONT></TD>
    <TD STYLE="border-top: #000000 1px solid; border-right: Black 1pt solid; border-bottom: Black 1px solid; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-top: #000000 1px solid; border-bottom: #000000 1px solid; text-indent: 5pt; width: 87%"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">NAME
                                         OF REPORTING PERSON</FONT></P>
                                                                                                              <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                                                <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; letter-spacing: normal; word-spacing: 0px"><B>Daniel
                                         C. Robeso</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">n</FONT></B></P>
                                                                                <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="border-top: #000000 1px solid; border-bottom: #000000 1px solid; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-top: #000000 1px solid; border-right: Black 1pt solid; border-bottom: Black 1px solid; width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1px solid; border-left: Black 1pt solid; vertical-align: top; text-align: right"><FONT STYLE="font: 16pt Times New Roman, Times, Serif">2.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt; vertical-align: top"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">CHECK
                                         THE APPROPRIATE BOX IF A MEMBER OF A GROUP</FONT></P>
                                                              <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; background-color: White">&nbsp;</FONT></P>
                                                              <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; background-color: White">&nbsp;</FONT></P>
                                                              <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; background-color: White">&nbsp;</FONT></P>
                                                              <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"></P>
                                                              <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; margin-top: 0pt; margin-bottom: 0pt; vertical-align: top"><P STYLE="margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)
                                         <FONT STYLE="background-color: Silver">&#9744;</FONT></FONT></P>
                                                                                                                                                          <P STYLE="margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)
                                         <FONT STYLE="background-color: Silver">&#9744;</FONT></FONT></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(213,213,213)">
    <TD STYLE="border-bottom: Black 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font: 16pt Times New Roman, Times, Serif">3.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SEC
                                         USE ONLY</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: Black 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font: 16pt Times New Roman, Times, Serif">4.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SOURCE
                                         OF FUNDS</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B></B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: Black 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font: 16pt Times New Roman, Times, Serif">5.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">CHECK
                                         BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<FONT STYLE="background-color: Silver">&#9744;</FONT></FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: Black 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font: 16pt Times New Roman, Times, Serif">6.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">CITIZENSHIP
                                         OR PLACE OF ORGANIZATION</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>USA</B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B>&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="3" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR>
    <TD STYLE="border-left: Black 1pt solid; width: 14%"></TD>
    <TD STYLE="width: 3%"></TD>
    <TD STYLE="border-left: Black 1pt solid; width: 2%"></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 3%"></TD>
    <TD STYLE="border-right: Black 1pt solid; text-indent: 5pt; width: 78%"></TD></TR>
<TR VALIGN="TOP">
    <TD ROWSPAN="4" STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; vertical-align: middle; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NUMBER
    OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH</B></FONT></TD>
    <TD VALIGN="BOTTOM"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<FONT STYLE="font-size: 16pt">7.</FONT></FONT></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SOLE
                                         VOTING POWER</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>0
                                         Shares </B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P></TD></TR>
<TR VALIGN="TOP">
    <TD VALIGN="BOTTOM"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font: 16pt Times New Roman, Times, Serif">8.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SHARED
                                         VOTING POWER</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>0
                                         Shares </B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P></TD></TR>
<TR VALIGN="TOP">
    <TD VALIGN="BOTTOM"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font: 16pt Times New Roman, Times, Serif">9.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SOLE
                                         DISPOSITIVE POWER</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>0
                                         Shares </B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P></TD></TR>
<TR VALIGN="TOP">
    <TD VALIGN="BOTTOM" STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font: 16pt Times New Roman, Times, Serif">10.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SHARED
                                         DISPOSITIVE POWER</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>0
                                         Shares </B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="3" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
    <TD STYLE="border-left: Black 1pt solid; width: 3%"></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 3%"></TD>
    <TD STYLE="text-indent: 5pt; width: 87%"></TD>
    <TD STYLE="width: 1%"></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 6%"></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font: 16pt Times New Roman, Times, Serif">11.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">AGGREGATE
                                         AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>0
                                         Shares </B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font: 16pt Times New Roman, Times, Serif">12.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">CHECK
                                         BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</FONT></P>
                                                 <P STYLE="text-indent: 10pt; text-align: right; margin-top: 0; margin-bottom: 0"></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<FONT STYLE="background-color: Silver">&#9744;</FONT></FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><FONT STYLE="font: 16pt Times New Roman, Times, Serif">13.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">PERCENT
                                         OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>0.00%</B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: #000000 1px solid; border-left: Black 1pt solid; text-align: right"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<FONT STYLE="font-size: 16pt">14.</FONT></FONT></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #000000 1px solid; text-indent: 5pt"><P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">TYPE
                                         OF REPORTING PERSON</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;</FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>IN</B></FONT></P>
                                                 <P STYLE="text-indent: 10pt; margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>






<P STYLE="text-indent: -20pt; margin-left: 20pt; text-align: left; font-style: normal; font-weight: normal; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="text-indent: -20pt; margin-left: 20pt; text-align: left; font-style: normal; font-weight: normal; margin-top: 6pt; margin-bottom: 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="margin: 0"></P>

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<P STYLE="text-align: left; font-weight: bold; margin-top: 6pt; margin-bottom: 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><TABLE CELLPADDING="5" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left"></FONT><TD STYLE="border: Black 1pt solid; text-align: left; vertical-align: middle; width: 33%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CUSIP
                                         No. &nbsp;23334J107</B></FONT></P>



</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 34%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>13D</B></FONT></TD>
    <TD STYLE="border: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; text-align: right; vertical-align: middle; width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Page
    5 of 8 Pages&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD></TR>
</TABLE></P>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 50pt; padding-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px">The
following constitutes Amendment No. 2 to the Schedule 13D filed by the undersigned (&ldquo;Amendment No. 2&rdquo;). This
Amendment No. 2 amends the Schedule 13D as specifically set forth herein</FONT></FONT>.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 30pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 9pt; font-weight: bold; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 50pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
                            2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Identity
                                         and Background.</U></FONT></TD>
</TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-indent: 1.5em; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 50pt; padding-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 50pt; padding-left: 0"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 50pt; padding-left: 0"> <FONT STYLE="text-decoration: initial initial initial; font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px">Item</FONT> <FONT STYLE="text-decoration: initial initial initial; font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px">2(a) is hereby amended and restated to read as follows:</FONT></P>




</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 50pt; padding-left: 0">(a)
This statement is filed by:</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-indent: 1in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 50pt; text-indent: 20pt; padding-left: 0">(i)
Karpus Management, Inc., d/b/a Karpus Investment Management ("Karpus"). Karpus is a registered investment adviser under Section
203 of the Investment Advisers Act of 1940. Karpus is controlled by City of London Investment Group plc (&ldquo;CLIG&rdquo;), which
is listed on the London Stock Exchange. However, in accordance with SEC Release No. 34-39538 (January 12, 1998), effective informational
barriers have been established between Karpus and CLIG such that voting and investment power over the subject securities is exercised
by Karpus independently of CLIG, and, accordingly, attribution of beneficial ownership is not required between Karpus and CLIG.
The shares to which this Amendment No. 2 relates are owned directly by the accounts managed by Karpus;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 50pt; text-indent: 20pt; padding-left: 0">(ii)
Arthur Charles Regan, as a nominee to the Board of Directors of the Issuer (the "Board"); and</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 50pt; text-indent: 20pt; padding-left: 0">(iii)
Daniel C. Robeson, as a nominee to the Board.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 50pt; padding-left: 0">Each of the foregoing is referred to as a &quot;Reporting Person&quot;
and collectively as the &quot;Reporting Persons.&quot; Each of the Reporting Persons is party to that certain Joint Filing and
Solicitation Agreement as filed with Amendment No.1 to the Schedule 13D on&nbsp; October 6, 2020. Accordingly, the Reporting Persons
are hereby filing a joint Schedule 13D.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 50pt; padding-left: 0">Set
forth on&nbsp;<U>Schedule A</U>&nbsp;annexed hereto ("<U>Schedule A</U>") is the name and present principal business, occupation
or employment and the name, principal business and address of any corporation or other organization in which such employment is
conducted of the executive officers and directors of Karpus. To the best of the Reporting Persons' knowledge, except as otherwise
set on&nbsp;<U>Schedule A</U>, none of the persons listed on&nbsp;<U>Schedule A</U>&nbsp;beneficially owns any securities of the
Issuer or is a party to any contract, agreement or understanding required to be disclosed herein.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 50pt; padding-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 50pt; padding-left: 0"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>
</P>



<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; padding: 0; text-align: justify; text-indent: 30pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 9pt; font-weight: bold; margin-top: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 50pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Item
                            3.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Source
                                         and Amount of Funds or Other Consideration.</U></B></FONT></TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; padding-top: 0; padding-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; padding-top: 0; padding-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 50pt; padding-left: 0">Item
3 is hereby amended and restated to read as follows:</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 50pt; padding-left: 0">Karpus,
an independent registered investment advisor, has accumulated 2,044,912 Shares on behalf of accounts that are managed by Karpus
(the "Accounts") under limited powers of attorney, which represents 24% of the outstanding Shares. All funds that have been
utilized in making such purchases for the Accounts (which are open market purchases unless otherwise noted) are from such Accounts.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 50pt; padding-left: 0">The aggregate
purchase price of the 2,044,912 Shares beneficially owned by Karpus is approximately $28,929,283, excluding brokerage commissions.
The Shares purchased by Karpus were purchased with working capital (which may at any given time, include margin loans made by
brokerage firms in the ordinary course of business) in open market purchases except as otherwise noted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; padding-top: 0; padding-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 50pt; padding-left: 0"><FONT STYLE="font: normal 400 10pt Times New Roman, Times, Serif; text-transform: none; letter-spacing: normal; word-spacing: 0px">&nbsp;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 9pt; font-weight: bold; margin-top: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 50pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Item
                            4.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Purpose
of Transaction.</U></B></FONT></TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; padding-top: 0; padding-bottom: 0"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: justify; text-indent: 50pt; padding-left: 0">Item 4 is hereby amended
to add the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 50pt; padding-left: 0">On November 23, 2020, the Issuer entered into a Standstill Agreement
with Karpus (the &quot;Agreement&quot;), pursuant to which the Issuer announced a tender offer for up to 17.5% of the Issuer's
outstanding common stock at a price equal to 98% of the net asset value at the closing of trading on the date the tender offer
expires, which is expected to be by early March, 2021 (the &quot;Tender Offer&quot;). Karpus agreed to certain customary standstill
provisions, effective as of the date of the Agreement until November 23, 2023 (the &ldquo;Standstill Period&rdquo;), prohibiting
it from, among other things, seeking, making, proposing or participating in (i) any solicitation of proxies, (ii) any tender or
exchange offer, recapitalization, dissolution or other extra-ordinary transaction, other than the Tender Offer, (iii) any short
sale or other transaction that derives value from a decline in the market price of the Issuer&rsquo;s securities, (iv) the formation
of any &ldquo;group&rdquo; within the meaning of Section 13(d)(3) of the Exchange Act, (v) any nomination, contested solicitation
for the removal of directors, or other effort to gain Board representation, (vi) any proposals for consideration by shareholders
at an annual or special meeting of shareholders, or (vii) any public statement or proposal to change the number of directors, change
the capitalization of the Issuer or otherwise effect material change to the Issuer&rsquo;s management, business, policies, or corporate
structure. The foregoing summary of the Agreement does not purport to be complete and is subject to, and qualified in its entirety
by, the full text of the Agreement, a copy of which is referenced in Exhibit 99.1 hereto and is incorporated herein by reference.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; padding-top: 0; padding-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; padding-top: 0; padding-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; padding-top: 0; padding-bottom: 0"></P>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 50pt; padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 50pt; padding-left: 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">&nbsp;</FONT></P>

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</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="5" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid; text-align: left; width: 33%; vertical-align: middle"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>CUSIP
                                         No.&#9;&nbsp;23334J107</B></FONT></P>



</TD>
    <TD STYLE="text-align: center; width: 34%; vertical-align: middle"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>13D</B></FONT></TD>
    <TD STYLE="border: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; text-align: right; width: 33%; vertical-align: middle"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Page
    6 of 8 Pages&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>


<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 9pt; font-weight: bold; margin-top: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 50pt; text-align: left"><P STYLE="margin-top: 0; margin-bottom: 0"></P>
                                                                      <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-variant: normal"><B>Item
                                         5.</B></FONT></P></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-variant: normal"><B><U>Interest
                                         in Securities of the Issuer.</U></B></FONT></TD>
</TR></TABLE>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 70pt; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 50pt; padding-left: 0">Items
5(a) &ndash; (c) are hereby amended and restated to read as follows:</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 50pt; padding-left: 0"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px">The
aggregate percentage of Shares reported owned by each Reporting Person is based upon 8,520,685 Shares outstanding, which is the
total number of Shares outstanding as of April 30, 2020, as reported in the Issuer&rsquo;s Certified Shareholder Report of Registered
Management Investment Companies on Form N-CSR, filed with the Securities and Exchange Commission on June 23, 2020</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50pt"></TD><TD STYLE="width: 40pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Karpus
</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 90pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 48px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px">As
of the close of business on November 23, 2020, Karpus beneficially owned the 2,044,912 Shares held in the Accounts</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 50pt; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;Percentage:
&nbsp;&nbsp;Approximately 24%</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 90pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 48px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1. Sole power to vote or direct vote: <FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)">&nbsp;&nbsp;2,044,912</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2. Shared power to vote or direct vote: 0</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3. Sole power to dispose or direct the disposition:
    &nbsp;2,044,912 </FONT>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4. Shared power to dispose or direct the disposition:
    0</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 90pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 48px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: 400; text-decoration: initial initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px">Karpus
    has not entered into any transactions in the Shares since the filing of the Schedule 13D</FONT>, Amendment No. 1 on October
    6, 2020.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50pt"></TD><TD STYLE="width: 40pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px">Arthur
Charles Regan</FONT></FONT></FONT></TD>
</TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 90pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 48px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px">As
of the close of business on November 23, 2020, Arthur Charles Regan didn't beneficially own any Shares of the Issuer</FONT></FONT></FONT>.</FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 50pt; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;Percentage:  &nbsp;0.00%</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 90pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 48px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1. Sole power to vote or direct vote: <FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)">&nbsp;&nbsp;0</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2. Shared power to vote or direct vote: &nbsp;&nbsp;<FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)">0</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3. Sole power to dispose or direct the disposition:
&nbsp;    <FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)">0</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4. Shared power to dispose or direct the disposition:
&nbsp;    <FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)">0</FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 90pt"></TD><TD STYLE="width: 48px; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD><TD STYLE="text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0)"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px">Mr.
Regan has not entered into any transactions in the Shares since the filing of the Schedule 13D, Amendment No. 1 on October
    6, 2020</FONT>.</FONT></P>


</TD>
</TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 50pt; padding-left: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50pt"></TD><TD STYLE="width: 40pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">C.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="text-decoration: initial initial initial; font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px">Daniel
C. Robeson</FONT></FONT></FONT></TD>
</TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 90pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 48px"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px">As
of the close of business on October 2, 2020, Daniel C. Robeson didn't beneficially own any Shares of the Issuer.</FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 50pt; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;Percentage:
 &nbsp;0.00%</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 90pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 48px"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1. Sole power to vote or direct vote: <FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)">&nbsp;&nbsp;0</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2. Shared power to vote or direct vote: &nbsp;&nbsp;<FONT STYLE="text-decoration: initial initial; font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)">0</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3. Sole power to dispose or direct the disposition:
&nbsp;    <FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)">0</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4. Shared power to dispose or direct the disposition:
&nbsp;    <FONT STYLE="text-decoration: initial initial; font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)">0</FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 90pt"></TD><TD STYLE="width: 48px; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></TD><TD STYLE="text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0)"><FONT STYLE="text-decoration: initial initial initial; font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px"><FONT STYLE="text-decoration: initial initial initial; font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px"> <FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px">Mr.
                                                                                                                                                                             Robeson has not entered into any transactions in the Shares since the filing of the Schedule 13D</FONT></FONT>, Amendment No.
                                                                                                                                                                             1 on October 6, 2020.</FONT></P>


</TD>
</TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 50pt; padding-left: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 50pt; padding-left: 0"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px">The
filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the
Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that he or it does not directly
own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it
does not directly own.</FONT></P></FONT></TD></TR>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 50pt; padding-left: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 50pt; padding-left: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 50pt; padding-left: 0">&nbsp;&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 9pt; font-weight: bold; margin-top: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 50pt; text-align: left"><P STYLE="margin-top: 0; margin-bottom: 0"></P>
                                                                      <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif"><B>Item
                                         6.</B></FONT></P></TD><TD STYLE="text-align: justify"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif"><B><U><FONT STYLE="text-transform: none; letter-spacing: normal; word-spacing: 0px"><U>Contracts, Arrangements,
Understandings or Relationships With Respects to Securities of the Issuer</U></FONT>.</U></B></FONT></TD>
</TR></TABLE>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 50pt; padding-left: 0">Item 6 is hereby amended
to add the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 50pt; padding-left: 0">On
November 23, 2020, Karpus and the Issuer entered into the Agreement defined and described in Item 4 above and attached as
Exhibit 99.1 hereto.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 50pt; padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="text-decoration: initial initial initial; font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px">&nbsp;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 50pt; padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px">&nbsp;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 50pt; padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 50pt; padding-left: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 9pt; font-weight: bold; margin-top: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 50pt; text-align: left"><P STYLE="margin-top: 0; margin-bottom: 0"></P>
                                                                      <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif"><B>Item
                                         7.</B></FONT></P></TD><TD STYLE="text-align: justify"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif"><B><U><FONT STYLE="text-transform: none; letter-spacing: normal; word-spacing: 0px"><U>Material
                                                               to be Filed as Exhibits</U></FONT>.</U></B></FONT></TD>
</TR></TABLE>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 50pt; padding-left: 0">Item 7 is hereby amended to add the following exhibits:</P>




<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 40pt"><FONT STYLE="font-size: 10pt"><A HREF="exh99-1_18443.htm">99.1</A></FONT></TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><A HREF="exh99-1_18443.htm">Agreement by and among Karpus Management Inc. and DTF Tax-Free Income Inc., dated November 23, 2020.</A></P>


</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="text-indent: 30pt; font-style: normal; text-align: justify; font-weight: normal; margin-top: 6pt; margin-bottom: 6pt"></P>

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    <DIV STYLE="border-bottom: Black 1pt solid; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: left; font-style: normal; font-weight: normal; margin-top: 6pt; margin-bottom: 6pt"></P>

<TABLE CELLPADDING="5" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid; text-align: left; width: 33%; vertical-align: middle"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CUSIP
                                         No.&nbsp;&nbsp;23334J107</B></FONT></P>



</TD>
    <TD STYLE="text-align: center; width: 34%; vertical-align: middle"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>13D</B></FONT></TD>
    <TD STYLE="border: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; text-align: right; width: 33%; vertical-align: middle"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Page
    7 of 8 Pages&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD></TR>
</TABLE>
<P STYLE="text-align: left; font-style: normal; font-weight: normal; margin-top: 6pt; margin-bottom: 6pt"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>SIGNATURES</U></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">After
reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth
in this statement is true, complete and correct.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0; margin-top: 0pt; margin-bottom: 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="1" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0)"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"><B>KARPUS
                    MANAGEMENT, INC.</B></FONT></P>


</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
                    <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD></TR>
<TR>
    <TD STYLE="padding-bottom: 1pt; vertical-align: top; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:&nbsp;&nbsp;November
    30, 2020</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; width: 46%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
<FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px">Daniel
L. Lippincott, CFA</FONT></FONT></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:
                                    &nbsp;&nbsp;&nbsp;<FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px">Daniel
L. Lippincott, CFA</FONT></FONT></P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px">Senior
Tax-Sensitive Manager and Director of Investment Personnel</FONT></FONT></P></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></FONT></P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="1" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="margin-top: 0; margin-bottom: 0"></P>
                    <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="padding-bottom: 1pt; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0)"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px">/s/
Arthur Charles Regan</FONT></P>


</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0)">A<FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px">RTHUR
CHARLES REGAN</FONT></P>


</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-bottom: 1pt; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0)"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px">/s/
Daniel C. Robeson</FONT></P>


</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0)"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px">DANIEL
C. ROBESON</FONT></P>


</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>



</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 46%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt"></P>




<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; padding-left: 0; text-align: left"></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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                                         No.&nbsp;&#9;23334J107</B></FONT></P>



</TD>
    <TD STYLE="text-align: center; width: 34%; vertical-align: middle"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>13D</B></FONT></TD>
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    8 of 8 Pages&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SCHEDULE
A</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Executive
Officers &amp; Directors of Karpus Management, Inc., d/b/a Karpus Investment Management</U></B></FONT></P>

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<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 10pt times new roman; text-decoration: initial initial; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; width: 100%; background-color: rgb(255, 255, 255)">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; text-align: center; text-decoration: underline"><FONT STYLE="font-size: 10pt"><U>Name</U></FONT></TD>
    <TD STYLE="width: 28%; text-align: center; text-decoration: underline"><FONT STYLE="font-size: 10pt"><U>Position &amp; Present Principal Occupation</U></FONT></TD>
    <TD STYLE="width: 25%; text-align: center; text-decoration: underline"><FONT STYLE="font-size: 10pt"><U>Business Address</U></FONT></TD>
    <TD STYLE="width: 22%; text-align: center; text-decoration: underline"><FONT STYLE="font-size: 10pt"><U>Shares Owned</U></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204, 238, 255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Kathleen Finnerty Crane</FONT></TD>
    <TD STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">Chief Financial Officer</FONT></P></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">183 Sully&rsquo;s Trail, Pittsford, New York 14534</FONT></TD>
    <TD STYLE="text-align: center">240 Shares</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Dana R. Consler</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Executive Vice President</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">183 Sully&rsquo;s Trail, Pittsford, New York 14534</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">6,360 Shares</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204, 238, 255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Thomas M. Duffy</FONT></TD>
    <TD STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">Senior Vice President and</FONT></P>
                                   <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">Director of Operations&nbsp;</FONT></P></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">183 Sully&rsquo;s Trail, Pittsford, New York 14534</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">0 Shares</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Sharon L. Thornton</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Executive Vice President</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">183 Sully&rsquo;s Trail, Pittsford, New York 14534</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">0 Shares</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204, 238, 255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Daniel L. Lippincott</FONT></TD>
    <TD STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(204, 238, 255)">Chief
Investment Officer</FONT></FONT></FONT></P></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">183 Sully&rsquo;s Trail, Pittsford, New York 14534</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">0 Shares</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">David D&rsquo;Ambrosio</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Senior Vice President</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">183 Sully&rsquo;s Trail, Pittsford, New York 14534</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">0 Shares</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204, 238, 255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Marijoyce Ryan</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Vice President of Fiduciary Services</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">183 Sully&rsquo;s Trail, Pittsford, New York 14534</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1,500 Shares</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)">Thomas
Wayne Griffin</FONT></TD>
    <TD STYLE="text-align: center">Director</TD>
    <TD STYLE="text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(0, 0, 0)"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)">1125
Airport Road, Coatesville, PA 19320</FONT></P>


</TD>
    <TD STYLE="text-align: center">0 Shares</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204, 238, 255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; color: (error); text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(204, 238, 255)">Carlos
Manuel Yuste</FONT></TD>
    <TD STYLE="text-align: center">Director</TD>
    <TD STYLE="text-align: center">1125
Airport Road, Coatesville, PA 19320</TD>
    <TD STYLE="text-align: center">0 Shares</TD></TR>
</TABLE>


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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh99-1_18443.htm
<DESCRIPTION>STANDSTILL AGREEMENT
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right; text-indent: 0in"><B><U>EXHIBIT 99.1</U></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>Standstill Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This Agreement is
entered into as of November 23, 2020 (including the exhibits hereto, this &ldquo;<B>Agreement</B>&rdquo;), by and among Karpus
Management, Inc., doing business as Karpus Investment Management (&ldquo;<B>Karpus</B>&rdquo;), and DTF Tax-Free Income Inc. (the
&ldquo;<B>Fund</B>&rdquo;) (the Fund, together with Karpus, the &ldquo;<B>Parties</B>,&rdquo; and each individually a &ldquo;<B>Party</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">WHEREAS, the Fund
is a closed-end management investment company registered under the Investment Company Act of 1940, as amended (the &ldquo;<B>1940
Act</B>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">WHEREAS, the Fund,
as of the close of business on November 20, 2020, has approximately 8,520,685 shares of common stock outstanding (the &ldquo;<B>Total
Outstanding Common Shares</B>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">WHEREAS, as of the
close of business on November 20, 2020, Karpus is the beneficial owner (as such term is used in Rule 13d-3 under the Securities
Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;)) of, in the aggregate, 2,044,912 shares of common stock of the
Fund (&ldquo;<B>Common Shares</B>&rdquo;) representing approximately 24.00% of the Total Outstanding Common Shares of the Fund;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">WHEREAS, the Fund
and Karpus believe it is in their mutual interests for the Parties to take the actions reflected below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">NOW, THEREFORE,
in consideration of the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Parties hereto hereby agree as follows:</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><FONT STYLE="font-family: 9999999,serif">Section 1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: 9999999,serif"></FONT>Tender
Offer and Imposition of Term.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">1.1.</FONT></TD><TD STYLE="text-align: justify">On the basis of the representations, warranties and agreements set forth herein and subject to
the performance by Karpus of its covenants and other obligations hereunder and the other conditions set forth herein:</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(a)</FONT></TD><TD STYLE="text-align: justify">The Fund shall conduct a tender offer to purchase 17.5% (the &ldquo;<B>Tender Maximum Amount</B>&rdquo;)
of its Total Outstanding Common Shares (the &ldquo;<B>Tender Offer</B>&rdquo;). The Tender Offer shall include the following terms:
(i) shareholders shall have the opportunity to tender some or all of their Common Shares at a price equal to 98% of the Fund&rsquo;s
net asset value per share (&ldquo;<B>NAV</B>&rdquo;) as determined as of the close of the regular trading session of the New York
Stock Exchange (the &ldquo;<B>NYSE</B>&rdquo;) on the next day the NAV is calculated after the expiration date of the Tender Offer
or, if the Tender Offer is extended, on the next day the NAV is calculated after the day to which the Tender Offer is extended,
(ii) the Fund shall purchase Common Shares properly tendered and not withdrawn on a prorated basis up to the Tender Maximum Amount
if greater than the Tender Maximum Amount of Common Shares are properly tendered and not withdrawn, (iii) the consideration to
be paid by the Fund for Common Shares under the Tender Offer shall consist solely of cash, and (iv) if less than the Tender Maximum
Amount of Common Shares have been properly tendered and not withdrawn, then the Fund shall only be obligated to purchase such amount
of Common Shares actually tendered.</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(b)</FONT></TD><TD STYLE="text-align: justify">The Tender Offer shall not provide for preferential treatment for any shareholders of the Fund.</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(c)</FONT></TD><TD STYLE="text-align: justify">The Tender Offer shall expire not later than three (3) business days after the meeting of shareholders
referred to in <U>Section 1.2</U>.</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(d)</FONT></TD><TD STYLE="text-align: justify">Although the Fund has committed to conduct the Tender Offer under the circumstances set forth above,
notwithstanding anything else in this Agreement, the Fund will not commence the Tender Offer or accept tenders of the Common Shares
during any period when (i) such transactions, if consummated, would: (A) result in the delisting of the Common Shares from the
NYSE or (B) impair the Fund&rsquo;s status as a regulated investment company under the Internal Revenue Code of 1986, as amended;
(ii) there is any (A) legal or regulatory action or proceeding instituted or threatened challenging such transaction, (B) suspension
of or limitation on prices for trading securities generally on the NYSE or other national securities exchange(s), including the
National Association of Securities Dealers Automated Quotation System (&ldquo;<B>NASDAQ</B>&rdquo;) National Market System, or
(C) declaration of a banking moratorium by federal or state authorities or any suspension of payment by banks in the United States;
or (iii) the Board of Directors of the Fund (the &ldquo;<B>Fund Board</B>&rdquo;) determines in good faith and upon the written
advice of counsel, that effecting any such transaction would constitute a breach of its fiduciary duty owed to the Fund or its
shareholders. In the event of a delay pursuant to any of clauses (i), (ii) or (iii) above, the Fund will provide prompt written
notice to Karpus. In the event of a delay pursuant to either clause (i) or (ii) above, the Fund will commence the Tender Offer
as soon as practicable and no later than 30 days after the termination of such delaying event.</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(e)</FONT></TD><TD STYLE="text-align: justify">The Fund shall not issue any Common Shares or any securities exchangeable or convertible into Common
Shares prior to the payment of the Tender Offer proceeds; <I>provided<U>,</U> however</I>, that the Fund may issue Common Shares
pursuant to the operation of its dividend reinvestment plan.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">1.2.</FONT></TD><TD STYLE="text-align: justify">Not later than March 5, 2021 the Fund Board shall call a meeting of shareholders of the Fund (which
may be, but is not required to be, the 2021 Annual Meeting of Shareholders of the Fund) for the purpose of voting on an amendment
to the Fund&rsquo;s Charter (the &ldquo;<B>Limited Term Provision</B>&rdquo;) providing in substance for the winding up and dissolution
of the Fund on a date approximately seven years from the date of approval by the shareholders of the Fund of such a provision (the
&ldquo;<B>Termination Date</B>&rdquo;); <I>provided</I>, that in lieu of winding up and dissolving the Fund, the Fund Board shall
have the option to cause the Fund to conduct a tender offer for 100% of the Total Outstanding Common Shares at a tender price equal
to 100% of NAV.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">1.3.</FONT></TD><TD STYLE="text-align: justify">The Fund Board will recommend to shareholders the approval of the Limited Term Provision and shall
cause the Fund to solicit proxies for the approval of the Limited Term Provision.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">1.4.</FONT></TD><TD STYLE="text-align: justify">Karpus covenants and agrees to tender, or caused to be tendered, 100% of the Common Shares of which
it is the beneficial owner (as such term is used in Rule 13d-3 under the Exchange Act) in the Tender Offer. For the avoidance of
doubt, and without limiting the generality of the foregoing, Karpus covenants and agrees to tender, or caused to be tendered, all
Common Shares owned, controlled or held by Karpus and its officers, directors and principals (including, without limitation, Kathleen
Finnerty Crane, Dana R. Consler, Thomas M. Duffy, Sharon L. Thornton, Daniel L. Lippincott, David D'Ambrosio and Marijoyce Ryan)
and affiliated persons of Karpus (as defined in the 1940 Act and which, for the avoidance of doubt, shall include (without limitation)
any account or pooled investment vehicle now or in the future managed, advised or sub-advised by Karpus or its affiliated persons)
(all such persons, collectively, the &ldquo;<B>Karpus Entities</B>&rdquo;) as of the closing of the Tender Offer. The Karpus Entities,
together with the directors, officers and employees of Karpus, are collectively referred to herein as the &ldquo;<B>Karpus Affiliates</B>&rdquo;.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">1.5.</FONT></TD><TD STYLE="text-align: justify">Karpus covenants and agrees that during the Standstill Period (as defined below) it will not, and
it will not permit any of the Karpus Affiliates to, directly or indirectly, (i) nominate or recommend for nomination any individual
for election as a director at any annual or special meeting of shareholders of the Fund held during the Standstill Period, (ii)
stand for election as a director of the Fund, (iii) submit any proposal for consideration at, or bring any other business before,
any annual or special meetings of shareholders of the Fund held during the Standstill Period, (iv) initiate, encourage or participate
in the solicitation of proxies or exempt solicitation, including under Rule 14a-2(b)(1) under the Exchange Act, with respect to
any annual or special meeting of shareholders of the Fund held during the Standstill Period or (v) publicly or privately encourage
or support any other person to take any of the actions described in this <U>Section 1.5</U>.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">1.6.</FONT></TD><TD STYLE="text-align: justify">Karpus covenants and agrees that, in connection with the 2021 Annual Meeting of Shareholders of
the Fund, upon the completion of the Tender Offer, it will withdraw or cause to be withdrawn any and all proposals submitted to
by Karpus or any Karpus Affiliate for action by shareholders, including without limitation (i) its slate of nominees to serve as
directors of the Fund; (ii) its proposal to declassify the board of directors of the Fund; and (iii) its proposal to terminate
the Fund&rsquo;s investment advisory agreement (collectively, the &ldquo;<B>Karpus Proposals</B>&rdquo;).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><FONT STYLE="font-family: 9999999,serif">Section 2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: 9999999,serif"></FONT>Additional
Agreements.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">2.1.</FONT></TD><TD STYLE="text-align: justify">Karpus covenants and agrees that, other than the Karpus Proposals (unless required to be withdrawn
pursuant to this Agreement), during the period from the date of this Agreement through November 23, 2023, or until such earlier
time as the restrictions in this <U>Section 2.1</U> terminate as provided in <U>Section 4</U> of this Agreement (the &ldquo;<B>Standstill
Period</B>&rdquo;) it will not, and will cause the Karpus Affiliates and its and their respective representatives not to, directly
or indirectly, alone or in concert with others (including, by directing, requesting or suggesting that any other person take any
of the actions set forth below), unless specifically permitted in writing in advance by the Fund Board, take any of the actions
set forth below:</TD></TR></TABLE>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(a)</FONT></TD><TD STYLE="text-align: justify">effect, seek, offer, engage in, propose (whether publicly or otherwise and whether or not subject
to conditions) or cause, participate in or act to or assist any other person to effect, seek, engage in, offer or propose (whether
publicly or otherwise) or participate in or act to or take action with respect to (other than as specifically contemplated by this
Agreement):</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(i)</FONT></TD><TD STYLE="text-align: justify">any &ldquo;solicitation&rdquo; of &ldquo;proxies&rdquo; or become a &ldquo;participant&rdquo; in
any such &ldquo;solicitation&rdquo; as such terms are defined in Regulation 14A under the Exchange Act, disregarding clause (iv)
of Rule 14a-1(l)(2) and including any otherwise exempt solicitation pursuant to Rule 14a-2(b), in each case, with respect to securities
of the Fund (including, without limitation, any solicitation of consents to act by written consent or call a special meeting of
shareholders);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(ii)</FONT></TD><TD STYLE="text-align: justify">knowingly encourage or advise any other person or assist or act to assist any person in so encouraging
or advising any person with respect to the giving or withholding of any proxy, consent or other authority to vote (other than such
encouragement or advice that is consistent with the Fund Board&rsquo;s recommendation with respect to the Fund;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(iii)</FONT></TD><TD STYLE="text-align: justify">any (i) tender or exchange offer for securities of the Fund (other than the Tender Offer contemplated
by Section 1 or any other tender offer offered by the Fund to all shareholders), or any merger, exchange offer, consolidation,
business combination or acquisition or disposition of assets of the Fund or (ii) recapitalization, restructuring, open-ending,
liquidation, dissolution or other similar extraordinary transaction with respect to the Fund (it being understood that the foregoing
shall not restrict any person from tendering Common Shares , receiving payment for Common Shares or otherwise participating in
any such transaction on the same basis as other shareholders of the Fund or from participating in any such transaction that has
been approved by the Fund Board, subject to the terms of this Agreement);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(iv)</FONT></TD><TD STYLE="text-align: justify">engage, directly or indirectly, in any short sale that includes, relates to or derives any part
of its value from a decline in the market price or value of the securities issued by the Fund;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(b)</FONT></TD><TD STYLE="text-align: justify">form, join or in any way participate in any &ldquo;group&rdquo; (within the meaning of Section
13(d)(3) of the Exchange Act) (other than the existing group) with respect to the securities of the Fund;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(c)</FONT></TD><TD STYLE="text-align: justify">deposit any securities of the Fund in any voting trust or subject any securities of the Fund to
any arrangement or agreement with respect to the voting of the securities of the Fund, including, without limitation, lend any
securities of the Fund to any person or entity for the purpose of allowing such person or entity to vote such securities in connection
with any shareholder vote or consent of the Fund, other than any such voting trust, arrangement or agreement solely among the members
of Karpus and the Karpus Entities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(d)</FONT></TD><TD STYLE="text-align: justify">seek or encourage, alone or in concert with others, any person to submit nominations in furtherance
of a &ldquo;contested solicitation&rdquo; for the election or removal of directors with respect to the Fund;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(e)</FONT></TD><TD STYLE="text-align: justify">seek or encourage, alone or in concert with others, the removal or resignation of any member of
the Fund Board;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(f)</FONT></TD><TD STYLE="text-align: justify">make any proposal for consideration by the shareholders of the Fund at any annual or special meeting
of shareholders of the Fund or take any action (other than to vote in accordance with <U>Section 2.1</U> and <U>Section 2.2</U>)
with respect to any shareholder proposal submitted prior to the date of this Agreement;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(g)</FONT></TD><TD STYLE="text-align: justify">conduct a referendum of shareholders of the Fund, or make a request for a shareholder list or other
books and records of the Fund;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(h)</FONT></TD><TD STYLE="text-align: justify">seek, alone or in concert with others, representation on the Fund Board;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(i)</FONT></TD><TD STYLE="text-align: justify">seek to control or influence the management, Fund Board or policies of the Fund;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(j)</FONT></TD><TD STYLE="text-align: justify">institute, solicit, assist or join any litigation, arbitration or other proceeding against or involving
the Fund or any of its current or former directors or officers (including derivative actions); <I>provided, however</I>, that for
the avoidance of doubt the foregoing shall not prevent Karpus from (A) bringing litigation to enforce the provisions of this Agreement,
(B) making counterclaims with respect to any proceeding initiated by, or on behalf of, the Fund against Karpus, or (C) responding
to or complying with a validly initiated legal process;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(k)</FONT></TD><TD STYLE="text-align: justify">make any public statement or proposal with respect to (i) any change in the number or term of directors
or the filling of any vacancies on the Fund Board, (ii) any change in the capitalization or distribution policy of the Fund, (iii)
any other material change in the Fund&rsquo;s management, business, policies or corporate structure, or (iv) any waiver, amendment
or modification to the Charter or By-Laws of the Fund;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(l)</FONT></TD><TD STYLE="text-align: justify">publicly or privately disclose any intention, plan or arrangement inconsistent with the foregoing;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(m)</FONT></TD><TD STYLE="text-align: justify">except as specifically contemplated by this Agreement, enter into any discussions, negotiations,
arrangements or understandings with any person with respect to any of the foregoing, or advise, assist, encourage or seek to persuade
others to take any action with respect to any of the foregoing; or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(n)</FONT></TD><TD STYLE="text-align: justify">publicly, or privately in a manner that is intended to or would reasonably be expected to require
any public disclosure by the Fund or Karpus, request that the Fund, the Fund Board, or any of their respective representatives
amend or waive any provision of this <U>Section 2.1</U> (including this sentence) or for the Fund Board to specifically invite
Karpus or any of the Karpus Affiliates to take any of the actions prohibited by this <U>Section 2.1</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">For the avoidance
of doubt, during the Standstill Period, Karpus and its affiliated persons may communicate privately with (a) any third party and
(b) the Fund&rsquo;s directors, officers, investment adviser and any sub-adviser, but in each case only so long as (i) such private
communications are not intended to and would not reasonably be expected to require any public disclosure thereof and (ii) such
private communications do not violate the terms of this Agreement.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">2.2.</FONT></TD><TD STYLE="text-align: justify">Karpus covenants and agrees that during the Standstill Period and provided that it (or any of the
Karpus Affiliates) owns or controls Common Shares, it will, and will cause the Karpus Affiliates to:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(a)</FONT></TD><TD STYLE="text-align: justify">cause all Common Shares it and the Karpus Affiliates beneficially own as of the record date for
such meeting to be counted as present for purposes of a quorum at any annual or special meeting of shareholders of the Fund; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(b)</FONT></TD><TD STYLE="text-align: justify">vote or cause to be voted at any annual or special meeting of shareholders of the Fund all of the
Common Shares it and the Karpus Affiliates beneficially own as of the record date for such meeting (i) in favor of any proposal
with respect to which the Fund Board recommends a vote in favor of such proposal and (ii) against any proposal with respect to
which the Fund Board recommends a vote against such proposal or any proposal made in opposition to, or in competition or inconsistent
with, the recommendation of the Fund Board; <I>provided, however</I>, that notwithstanding anything herein to the contrary, Karpus
will, and will cause the Karpus Affiliates to, vote as recommended by the Fund Board regarding any (A) person nominated by the
Fund Board to serve as a director of the Fund; (B) proposal relating to the following actions taken by the Fund: a merger, reorganization,
consolidation, business combination or acquisition or disposition of assets of the Fund, <I>provided </I>that such transaction
is accomplished on the basis of the relative net asset values of the entities involved in the transactions; restructuring; recapitalization;
amendments to the Charter of the Fund (including, without limitation, to create a fixed term for the Fund), tender offer; liquidation;
dissolution; open-ending; issuance of additional securities (whether common, preferred or debt securities), including any senior
securities (unless any such securities are issued at a price below current net asset value); and the Fund&rsquo;s diversification
status; <I>provided, </I>in each case, that such action does not take effect until after the Fund has made payment for the Common
Shares tendered in the Tender Offer as required by <U>Section 1.1</U> hereof; and (C) shareholder proposal; <I>provided further</I>,
that nothing herein shall prevent or limit the ability of Karpus or the Karpus Affiliates from voting their respective Common Shares
against or in favor of, at their own discretion, any change in investment policy or strategy (including, without limitation, any
change in fundamental investment policies or restrictions).</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">2.3.</FONT></TD><TD STYLE="text-align: justify">For the avoidance of doubt, if Karpus or any of the Karpus Affiliates lend any Common Shares to
any third party (in compliance with the restrictions in <U>Section 2.1</U>), Karpus (or the Karpus Affiliates, as applicable) shall
recall any such stock loan in advance of the record date for any vote of or consent by the shareholders of the Fund so that Karpus
shall have full voting rights with respect to all such loaned Common Shares. In no event shall Karpus or any Karpus Affiliate enter
into any agreement with the intent of disposing, or resulting in the disposition of, its rights to vote any of the Common Shares
in circumvention of the requirements of this <U>Section 2.2;</U> <I>provided, however</I>, that a final sale of Common Shares (not
coupled with any repurchase agreement or similar reacquisition agreement) shall not be considered a prohibited sale of voting rights
in contravention of this <U>Section 2.2</U>.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">2.4.</FONT></TD><TD STYLE="text-align: justify">Karpus represents and warrants as follows:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(a)</FONT></TD><TD STYLE="text-align: justify">It has the power and authority to execute, deliver and carry out the terms and provisions of this
Agreement and to consummate the transactions contemplated hereby.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(b)</FONT></TD><TD STYLE="text-align: justify">This Agreement has been duly and validly authorized, executed and delivered by it and is enforceable
against Karpus in accordance with its terms.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(c)</FONT></TD><TD STYLE="text-align: justify">The execution and delivery of this Agreement and the consummation of the transactions contemplated
hereby will not contravene any agreement, organizational document or provision of law applicable to it.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(d)</FONT></TD><TD STYLE="text-align: justify">Karpus beneficially owns, directly or indirectly, and has the sole power to vote all of the Common
Shares described in the recitals to this Agreement, and its ownership of Common Shares has at all times complied with applicable
provisions of the 1940 Act and the Exchange Act, and the rules under such Acts.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(e)</FONT></TD><TD STYLE="text-align: justify">As of the date hereof, neither Karpus nor any of the Karpus Affiliates is a party to any Derivative
Securities, including without limitation any swap or hedging transactions or other derivative agreement, or any securities lending
or short sale arrangements, of any nature with respect to the common stock of the Fund.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">2.5.</FONT></TD><TD STYLE="text-align: justify">The Fund represents and warrants as follows:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(a)</FONT></TD><TD STYLE="text-align: justify">The Fund has the power and authority to execute, deliver and carry out the terms and provisions
of this Agreement and to consummate the transactions contemplated hereby.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(b)</FONT></TD><TD STYLE="text-align: justify">This Agreement has been duly and validly authorized, executed and delivered by the Fund and it
is enforceable against the Fund in accordance with its terms.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(c)</FONT></TD><TD STYLE="text-align: justify">The execution and delivery of this Agreement and the consummation of the transactions contemplated
hereby will not contravene any agreement, organizational document or provision of law applicable to the Fund.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><FONT STYLE="font-family: 9999999,serif">Section 3.</FONT></TD><TD STYLE="text-align: justify">Press
Releases; Public Statements.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">3.1.</FONT></TD><TD STYLE="text-align: justify">Karpus and the Fund agree that, no later than two (2) business days following the execution of
this Agreement, the Fund will issue a press release in a form materially consistent with a draft provided to and approved by Karpus
announcing (i) the entrance into and terms of this Agreement, (ii) the determination of the Fund Board to commence the Tender Offer
and (iii) the seeking of a shareholder vote on the Limited Term Provision (the &ldquo;<B>Fund Press Release</B>&rdquo;), and no
Party shall make any statement inconsistent with the Fund Press Release during the Standstill Period. No Party shall issue any
press release in connection with this Agreement, the Tender Offer, or the actions contemplated hereby without the prior written
consent of the other Party (such consent not to be unreasonably withheld, conditioned or delayed). Nothing in this Agreement shall
prevent (a) any Party from taking any action required by any governmental or regulatory authority (except to the extent such requirement
arose as a result of the discretionary act(s) of such Party), and (b) any Party from making any factual statement that is required
in any compelled testimony or production of information, either by legal process, by subpoena or as part of a response to a request
for information from any governmental authority with jurisdiction over such Party or as otherwise legally required and (c) Karpus
and its affiliated persons from communicating with its investors and prospective investors; <I>provided</I> that such communication
is otherwise consistent with this Agreement and the Fund Press Release. Karpus shall promptly prepare and file an amendment to
its Schedule 13D filed with the U.S. Securities and Exchange Commission (the &ldquo;<B>SEC</B>&rdquo;) reporting its entry into
this Agreement (which will not contain any statement inconsistent with the Fund Press Release) and the Item 4 disclosure set forth
therein will be in a form materially consistent with the draft previously provided to the Fund.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><FONT STYLE="font-family: 9999999,serif">Section 4.</FONT></TD><TD STYLE="text-align: justify">Termination.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">4.1.</FONT></TD><TD STYLE="text-align: justify">Notwithstanding anything herein to the contrary, and except for regulatory reasons or natural disasters/occurrences
beyond the Fund&rsquo;s control, if the Fund fails to complete the Tender Offer and distribute the proceeds in cash to the participating
shareholders on or before February 12, 2021 this Agreement shall terminate and be of no further force or effect.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">4.2.</FONT></TD><TD STYLE="text-align: justify">This Agreement remains in full force and effect until the earliest of:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(a)</FONT></TD><TD STYLE="text-align: justify">the expiration of the Standstill Period;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(b)</FONT></TD><TD STYLE="text-align: justify">a termination of this Agreement pursuant to <U>Section 4.1</U>; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">(c)</FONT></TD><TD STYLE="text-align: justify">such other date established by mutual written agreement of the Fund and Karpus.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">4.3.</FONT></TD><TD STYLE="text-align: justify"><U>Section 4</U>, <U>Section 6</U> and <U>Section 7</U> shall survive the termination of this Agreement.
No termination pursuant to this <U>Section 4</U> relieves any Party from liability for any breach of this Agreement prior to such
termination.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><FONT STYLE="font-family: 9999999,serif">Section 5.</FONT></TD><TD STYLE="text-align: justify">No
Disparagement.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">5.1.</FONT></TD><TD STYLE="text-align: justify">During the Standstill Period, each Party hereto shall refrain, and shall cause its respective principals,
directors, partners, general partners, members, officers, employees, affiliated persons and representatives to refrain, from directly
or indirectly making disparaging remarks, comments or statements (including in any document or report filed with or furnished to
the SEC or through the press, media, analysts or other persons) about, or taking any action reasonably likely to damage the reputation
of, the other Party, or its respective members, (current or former) directors, officers, employees or affiliated persons (which,
for the avoidance of doubt, with respect to (i) the Fund, shall include Duff &amp; Phelps Investment Management Co. and its directors,
partners, officers, employees and affiliated persons), or any members of the Fund Board and (ii) Karpus, shall include all employees,
partners, members, and directors of Karpus and all investment funds advised or sub-advised by Karpus, now or in the future, including,
but not limited to their respective directors, partners, officers and affiliated persons (collectively, the &ldquo;<B>Karpus Funds</B>&rdquo;)).
In each case, such disparaging remarks, comments or statements include, but are not limited to, those that impugn the character,
honesty, integrity, morality, business acumen or abilities of the individual or entity being disparaged. The foregoing shall not
apply to any compelled testimony or production of information, either by legal process, subpoena, or as part of a response to a
request for information from any governmental authority with jurisdiction over the Party from whom information is sought.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><FONT STYLE="font-family: 9999999,serif">Section 6.</FONT></TD><TD STYLE="text-align: justify">Third
Party Beneficiaries.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">6.1.</FONT></TD><TD STYLE="text-align: justify">Duff &amp; Phelps Investment Management Co. and the Karpus Funds shall each be considered an express
third-party beneficiary of this Agreement with the power and authority to enforce <U>Section 5.1</U>.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><FONT STYLE="font-family: 9999999,serif">Section 7.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: 9999999,serif"></FONT>Miscellaneous.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">7.1.</FONT></TD><TD STYLE="text-align: justify"><U>Remedies</U>. Each Party hereto hereby acknowledges and agrees that irreparable harm may occur
in the event any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise
breached. It is accordingly agreed that the Parties will be entitled to seek specific performance hereunder, including, without
limitation, an injunction or injunctions to prevent and enjoin breaches of the provisions of this Agreement and to enforce specifically
the terms and provisions hereof in any state or federal court in the State of New York, in addition to any other remedy to which
they may be entitled at law or in equity. Any requirements for the securing or posting of any bond with respect to any such remedy
are hereby waived. All rights and remedies under this Agreement are cumulative, not exclusive, and will be in addition to all rights
and remedies available to any Party at law or in equity.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">7.2.</FONT></TD><TD STYLE="text-align: justify"><U>Jurisdiction; Venue; Waiver of Jury Trial</U>. The Parties hereto hereby irrevocably and unconditionally
consent to and submit to the jurisdiction of the state or federal courts in the State of New York for any actions, suits or proceedings
arising out of or relating to this Agreement or the transactions contemplated hereby. The Parties irrevocably and unconditionally
waive any objection to the laying of venue of any action, suit or proceeding arising out of this Agreement, or the transactions
contemplated hereby, in the state or federal courts in the State of New York, and hereby further irrevocably and unconditionally
waive and agree not to plead or claim in any such court that any such action, suit or proceeding brought in any such court has
been brought in an inconvenient forum. EACH OF KARPUS AND THE FUND WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING
OR COUNTERCLAIM (WHETHER BASED UPON CONTRACT, TORT OR OTHERWISE) IN ANY WAY ARISING OUT OF OR RELATING TO THIS AGREEMENT.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">7.3.</FONT></TD><TD STYLE="text-align: justify"><U>Entire Agreement</U>. This Agreement contains the entire understanding of the Parties with respect
to the subject matter hereof and may be amended only by an agreement in writing executed by the Parties hereto. This Agreement
supersedes all previous negotiations, representations and discussions by the Parties hereto concerning the subject matter hereof,
and integrates the whole of all of their agreements and understanding concerning same. No prior oral representations or undertakings
concerning the subject matter hereof will operate to amend, supersede, or replace any of the terms or conditions set forth in this
Agreement, nor will they be relied upon.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">7.4.</FONT></TD><TD STYLE="text-align: justify"><U>Section Headings</U>. Descriptive headings are for convenience only and will not control or
affect the meaning or construction of any provision of this Agreement.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">7.5.</FONT></TD><TD STYLE="text-align: justify"><U>Notice</U>. All notices, consents, requests, instructions, approvals and other communications
provided for herein and all legal process in regard hereto will be validly given, made or served, if in writing and sent by email
with a copy by personal delivery, certified mail, return receipt requested, or by overnight courier service to:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left; text-indent: 0.5in">If to the Fund, to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">DTF Tax-Free Income
Inc..</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">Attn: Chief Compliance
Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">200 South Wacker Dr.,
Suite 500</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">Chicago, IL 60603</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left; text-indent: 0.5in">with copies to (which
copies shall not constitute notice):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">Mayer Brown LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in">71 South Wacker Dr.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in">Attn: Lawrence R. Hamilton</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in">Chicago, IL 60603</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">If to Karpus:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">Karpus Management,
Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">183 Sully&rsquo;s
Trail</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">Pittsford, New York
14534</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">Attn: Daniel L. Lippincott,
CFA, Chief Investment Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left; text-indent: 0.5in">with copies to (which
copies shall not constitute notice):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in">Olshan Frome Wolosky LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in">1325 Avenue of the Americas</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in">New York, New York 10019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in">Attn: Adam Finerman, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in"></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">7.6.</FONT></TD><TD STYLE="text-align: justify"><U>Severability</U>. Any provision of this Agreement that is invalid or unenforceable in any jurisdiction
will, as to such jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or
unenforceable the remaining provisions of this Agreement or affecting the validity or enforceability of any provisions of this
Agreement in any other jurisdiction. In addition, the Parties agree to use commercially reasonable efforts to agree upon and substitute
a valid and enforceable term, provision, covenant or restriction for any such term, provision, covenant or restriction that is
held invalid, void or unenforceable by a court of competent jurisdiction.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">7.7.</FONT></TD><TD STYLE="text-align: justify"><U>Governing Law</U>. This Agreement will be governed by and construed and enforced in accordance
with the laws of the State of Maryland, without regard to the conflict of law principles thereof.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">7.8.</FONT></TD><TD STYLE="text-align: justify"><U>Binding Effect; No Assignment</U>. This Agreement will be binding upon and inure to the benefit
of and be enforceable by and against, as applicable, the successors and assigns of the Parties hereto. Nothing in this Agreement,
expressed or implied, is intended to confer on any person other than the Parties hereto, or their respective successors and assigns,
any rights, remedies, obligations or liabilities under or by reason of this Agreement. No Party to this Agreement may, directly
or indirectly, assign its rights or delegate its obligations hereunder (whether voluntarily, involuntarily, or by operation of
law) without the prior written consent of the other Party. Any such attempted assignment will be null and void.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">7.9.</FONT></TD><TD STYLE="text-align: justify"><U>Amendments; Waivers</U>. No provision of this Agreement may be amended other than by an instrument
in writing signed by the Parties hereto, and no provision hereof may be waived other than by an instrument in writing signed by
the Party against whom enforcement is sought.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">7.10.</FONT></TD><TD STYLE="text-align: justify"><U>No Reliance</U>. Each Party acknowledges that it has received adequate information to enter
into this Agreement, that is has not relied on any promise, representation or warranty, express or implied not contained in this
Agreement and that it has been represented by counsel in connection with this Agreement. Accordingly, any rule of law or any legal
decision that would provide any Party with a defense to the enforcement of the terms of this Agreement against such Party shall
have no application and is expressly waived. The provisions of the Agreement shall be interpreted in a reasonable manner to effect
the intent of the Parties.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: 9999999,serif">7.11.</FONT></TD><TD STYLE="text-align: justify"><U>Counterparts</U>. This Agreement may be executed in counterparts, each of which will be deemed
an original, but all of which together will constitute one and the same instrument. Delivery of an executed signature page of this
Agreement by email or other electronic means shall be effective as delivery of a manually executed counterparty hereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.5in"><I>[Signatures appear
on next page]</I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the Parties hereto have executed this Agreement as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2in; text-align: left; text-indent: 0.5in">DTF TAX-FREE INCOME
INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2in; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2.5in; text-align: left; text-indent: 0in">By: ____________________________________________&#9;<BR>
Name: Daniel Petrisko<BR>
Title: Senior Vice President</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2.5in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2.5in; text-align: left; text-indent: 0in">KARPUS MANAGEMENT,
INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2.5in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 2.5in; text-align: left; text-indent: 0in">By: ____________________________________________&#9;&#9;<BR>
Name: Daniel L. Lippincott, CFA<BR>
Title: Chief Investment Officer</P>

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<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">A-1</P>

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