National Equity Trust Low Five Portfolio Series 38 Sample Contracts

National Equity Trust Low Five Portfolio Series 38 – REFERENCE TRUST AGREEMENT (April 12th, 2001)

Executed in 6 Parts Counterpart No. ( ) NATIONAL EQUITY TRUST LOW FIVE PORTFOLIO SERIES 38 REFERENCE TRUST AGREEMENT This Reference Trust Agreement dated April 11, 2001 among Prudential Securities Incorporated, as Depositor and The Bank of New York, as Trustee, sets forth certain provisions in full and incorporates other provisions by reference to the document entitled "National Equity Trust, Trust Indenture and Agreement" (the "Basic Agreement") dated February 2, 2000. Such provisions as are set forth in full herein and such provisions as are incorporated by reference constitute a single instrument (the "Indenture"). WITNESSETH THAT: --------------- In consideration of the premises and of the mutual a

National Equity Trust Low Five Portfolio Series 38 – REFERENCE TRUST AGREEMENT (March 5th, 2001)

Executed in 6 Parts Counterpart No. ( ) NATIONAL EQUITY TRUST Low Five Portfolio Series 38 REFERENCE TRUST AGREEMENT This Reference Trust Agreement dated ________, 2001 among Prudential Securities Incorporated, as Depositor and The Bank of New York, as Trustee, sets forth certain provisions in full and incorporates other provisions by reference to the document entitled "National Equity Trust, Trust Indenture and Agreement" (the "Basic Agreement") dated February 2, 2000. Such provisions as are set forth in full herein and such provisions as are incorporated by reference constitute a single instrument (the "Indenture"). WITNESSETH THAT: In consideration of the premises and of the mutual agreements herein contained, the Depositor and the Trustee agree as follow