EX-99.B(13)
MANAGED MUNICIPAL FUND, INC.
SUBSCRIPTION AGREEMENT
For and in conjunction of the mutual agreements here-in contained, X.X.
Xxxxxxxx, Xxxxxx Xxxxxxxx, Inc. ("X.X. Xxxxxxxx") hereby agrees to purchase from
Managed Municipal Fund, Inc., a Maryland corporation (the "Fund"), and the Fund
agrees to sell 10,000 shares of the Fund's common stock, par value $.001 (the
"Shares"), at a price of $10.00 per share upon the terms and conditions set
forth herein.
X.X. Xxxxxxxx agrees to purchase such Shares and to pay the full
consideration therefor to the Fund upon demand.
X.X. Xxxxxxxx hereby confirms to the Fund its representations that is
purchasing such Shares for investment purposes, with no present intention of
redeeming or reselling any portion thereof, and its agreement that in the event
it should dispose of any of such Shares, such transaction will be effected by
redeeming such Shares through Shares within five years of the date on which the
Fund commences operations it will reimburse the Fund for any unamortized costs
of the Fund's organization expenses in the same proportion as the number of
Shares to be redeemed bears to the number of Shares purchased hereby.
X.X. XXXXXXXX,
XXXXXX XXXXXXXX INC.
By:_____________________
Title:
Dated: As of _____________________, 1990
Subscription Accepted:
Managed Municipal Fund, Inc.
By: _____________________________
Title:
