EXHIBIT 5(c)
Form of Notice with Respect to Sub-Adviser Agreement
FORM OF NOTICE
Notice, effective________________ with respect to the Sub-Adviser Agreement
between Integrity Management & Research, Inc. (the "Manager") and ▇▇▇▇▇ ▇.
▇▇▇▇▇▇ & Co., Inc. (the "Sub-Adviser") dated July 29, 1993.
The Trust hereby gives notice that;
(i) the U.S. Government Money Market Portfolio has been renamed the U.S.
Treasury Income Portfolio.
This Notice is not intended to, and does not, alter or amend the Agreement,
which remains in full force and effect.
Integrity Management & Research, Inc.
By:_____________________________
▇▇▇▇▇ ▇. ▇▇▇▇▇▇ & Co., Inc.
By:______________________________
Acknowledged by
The Valiant Fund
By:_______________
