AMENDMENT TO THE
CUSTODIAN CONTRACT
AGREEMENT made this 7th day of July, 1988 by and between STATE STREET BANK
AND TRUST COMPANY ("Custodian") and FINANCIAL INDUSTRIAL FUND, INC. (the
"Fund").
WITNESSETH THAT:
WHEREAS, the Custodian and the Fund are parties to a Custodian Contract
dated February 1, 1980 (as amended to date, the "Contract") which governs the
terms and conditions under which the Custodian maintains custody of the
securities and other assets of the Fund:
NOW THEREFORE, the Custodian and the Fund hereby amend the terms of the
Custodian Contract and mutually agree to the following:
Insert as the final paragraph under VIII. Responsiblity of Custodian:
If the Fund requires the Custodian to advance cash or securities for any
purpose or in the event that the Custodian or its nominee shall incur or
be assessed any taxes, charges, expenses, assessments, claims or
liabilities in connection with the performance of this Contract, except
such as may arise from its or its nominee's own negligent action,
negligent failure to act or willful misconduct, any property at any time
held for the account of the Fund shall be security therefor and should the
Fund fail to repay the Custodian promptly, the Custodian shall be entitled
to utilize available cash and to dispose of Fund assets to the extent
necessary to obtain reimbursement.
IN WITNESS WHEREOF, each of the parties has caused this Amendment to be
executed in its name and on its behalf by a duly authorized officer as of the
day and year first above written.
ATTEST FINANCIAL INDUSTRIAL FUND, INC.
/s/ Xxxxx X. Xxxxxxxxxx /s/ Xxxx X. Xxxxxx
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ATTEST STATE STREET BANK AND TRUST COMPANY
/s/ Xxxxx X. Xxxxx /s/ X. Xxxxx Hawks, Jr.
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Assistant Secretary Vice President
