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ADDENDUM TO THE CUSTODIAN AGREEMENT
THIS ADDENDUM TO THE CUSTODIAN AGREEMENT dated May 13, 1996 between
Strategist Tax-Free Income Fund, Inc. (the Company) on behalf of
its underlying series fund (the Fund) and American Express Trust
Company (the Custodian) is made pursuant to Section 12 of the
Agreement to reflect the Corporation's arrangement of investing all
of the Fund's assets in corresponding portfolios of a master trust.
American Express Financial Corporation (AEFC) serves as
administrator for the Company and for the master trust in which the
Fund invests.
The Company, the Custodian and AEFC agree as follows:
The parties to this Agreement acknowledge that, so long as the Fund
invests all of its assets in a corresponding portfolio of a master
trust, the only assets held by the Fund will be units of the
corresponding portfolio of the master trust. The parties agree
that the Custodian is entitled to rely upon AEFC for an accounting
of the number of units held, purchased or redeemed by the Company
and to delegate to AEFC responsibility for all reporting to the
Company. AEFC agrees to indemnify and hold harmless the Custodian
from all claims and liabilities incurred or assessed against the
Custodian in connection with the accounting for and reporting to
the Company by AEFC.
IN WITNESS WHEREOF, the Company, the Custodian and AEFC have caused
this addendum to the Custodian Agreement to be executed on May 13,
1996 which shall remain in effect until terminated by one of the
parties on written notice to the other parties to this Addendum.
STRATEGIST TAX-FREE INCOME FUND, INC.
Strategist Tax-Free High Yield Fund
By /s/ Xxxxx X. Xxxxxxxx
Xxxxx X. Xxxxxxxx
President
AMERICAN EXPRESS TRUST COMPANY
By /s/ Xxxxxxxxxxx X. Xxxxx
Xxxxxxxxxxx X. Xxxxx
Vice President
AMERICAN EXPRESS FINANCIAL CORPORATION
By /s/ Xxxxxxx X. Xxxxx
Xxxxxxx X. Xxxxx
Senior Vice President
