Common use of TRUST DISCLAIMER Clause in Contracts

TRUST DISCLAIMER. Neither the shareholders, trustees, officers, employees and other agents of any Borrower or Fund shall be personally bound by or liable for any indebtedness, liability or obligation hereunder or under the Note nor shall resort be had to their private property for the satisfaction of any obligation or claim hereunder. If this letter correctly reflects your agreement with us, please execute both copies hereof and return one to us, whereupon this Agreement shall be binding upon the Borrowers, the Funds and CAPCO. Sincerely, USAA CAPITAL CORPORATION By: /S/ EDWIN T. MCQUISTON ---------------------- Edwin T. McQuiston Vice Pres▇▇▇▇▇-▇▇▇▇▇▇▇▇▇ 10 90655 AGREED AND ACCEPTED this 11th Day of January, 2000. USAA MUTUAL FUND, INC., on behalf of and for the benefit of its series of Funds as set forth on Schedule A to this Agreement

TRUST DISCLAIMER. Neither the shareholders, trustees, officers, employees and other agents of any Borrower or Fund shall be personally bound by or liable for any indebtedness, liability or obligation hereunder or under the Note nor shall resort be had to their private property for the satisfaction of any obligation or claim hereunder. If this letter correctly reflects your agreement with us, please execute both copies hereof and return one to us, whereupon this Agreement shall be binding upon the Borrowers, the not in their individual capacity, but on behalf of their respective Funds listed on SCHEDULE A hereto, and CAPCO. Sincerely, USAA CAPITAL CORPORATION By: /S/ EDWIN T. MCQUISTON ---------------------- -------------------------------- Edwin T. McQuiston Vice PresSenior ▇▇▇▇ ▇▇▇▇▇▇▇▇▇-▇▇▇▇▇▇▇▇▇ 10 90655 easurer AGREED AND ACCEPTED this 11th 10th Day of January, 20002001. USAA MUTUAL FUND, INC., on behalf of and for the benefit of its series of Funds as set forth on Schedule A to this Agreement

TRUST DISCLAIMER. Neither the shareholders, trustees, officers, employees and other agents of any Borrower or Fund shall be personally bound by or liable for any indebtedness, liability or obligation hereunder or under the Note nor shall resort be had to their private property for the satisfaction of any obligation or claim hereunder. If this letter correctly reflects your agreement with us, please execute both copies hereof and return one to us, whereupon this Agreement shall be binding upon the Borrowers, the Funds and CAPCO. Sincerely, USAA CAPITAL CORPORATION By: /S/ EDWIN T. MCQUISTON ---------------------- Edwin T. McQuiston Vice Pres▇Presi▇▇▇▇-▇▇▇▇▇▇▇▇▇ 10 90655 AGREED AND ACCEPTED this 11th Day of January, 2000. USAA MUTUAL FUND, INC., on behalf of and for the benefit of its series of Funds as set forth on Schedule A to this Agreement