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Department of ToAc Substances Control State of California - California Environmental Protection Agency Section 3. Establishment of Fund. The Grantor and the Trustee hereby establish a trust fund , the " Fund " for the benefit of the Beneficiary. The Grantor and the Trustee intend that no third party has access to the Fund except as herein provided . The Fund is established initially as consisting of the property, which is acceptable to the Trustee , described in Schedule B attached hereto . Such property and any other property subsequently transferred to the Trustee is referred to as the Fund , together with all earnings and profits thereon , less any payments or di tTRUSTs made hereinafter by the Trustee pursuant to this Agreement. The Fund shall be held by the Trustee , provided . The Trustee shall not be respcollecie nor t from thel It Grantor, any paymertake any n s neonsicessary tofity for amount or adequacy of, nor any duty to discharge any liabilities of the Grantor established by the Beneficiary. Section 4. Payment for Closure and Postc/osure Care . The Trustee shall make payments from the Fund as the Beneficiary shall direct, in writing , to provide for the payment of the costs of closure and/or postclosure care of the facilities/TTUs covered by this Agreement. The Trustee shall reimburse the Grantor or other persons as specified by the Beneficiary Wh{' n unldnfadditionor r the d postclosure expenditures in such amounts as the Beneficiary shall die g Trustee shall refund to the Grantor such s of the as the Fund aBenefiiciary defineherpecifies in writing . Upon refund , such funds shall not constitute p Section 5. Payments Comprising the Fund. Payments made to the Trustee for the Fund shall consist of cash or securities acceptable to the Trustee . Section 6. Trustee Management. The Trustee shall invest and reinvest the principal and income of the Fund and keep the Fund invested as a single fund , without distinction h the Grantor may pal and income , in accordance with general investment policies and guidelines w communicate in writing to the Trustee from time to time , subject , however, to the provisions of this section . In investing , reinvesting , exchanging , selling , and managing the Fund , the Trustee shall discharge his or her duties with respect to the trust fund solely in the Interest enstof the Beneficiary n f i persons of with the care , skill , prudence , and diligence under the circumstances prevailing familiar with such matters, would use in the conduct of an prudence , acting in a like capacity and enterprise of a like character and with like aims; except that: ( i) Securities or other obligations of the Grantor, or any other owner or operator of the facilities/Ms , or any of their affiliates as defined in the Investment Company Act of 1940 , as amended , 15 United States Code section 80a-2(a) , shall not be acquired or held , unless they are securities or other obligations of the Federal or State government ) (ii)The Trustee is authorized to invest the Fund in time or demand deposits of the Trustee , to the extent insured by an agency of the Federal or State government; and (iii) The Trustee is authorized to hold cash awaiting investment or distribution uninvested for a reasonable time and without liability for the payment of interest thereon . orized in its discretion : Section 7. Commingling and Investment. The Trustee is expressly auth (a) To transfer from time to time any or all of the assets of the Fund to any common , commingled or collective trust fund created by the Trustee in which the Funs of d is eligible lig trusts o pa Ing subject to all of the provisions thereof, to be commingled with the asset therein ; and (b ) To purchase shares in any investment company registered under the Investment Company may be cretd , Act of 1940 , 15 United States Code section 80a- 1 et seq . , including ne which the shares of which are sold by managed , underwritten or to which investment advice is rendered or the Trustee . The Trustee may vote such shares in its discretion . Page 2 of 8 DTSC 1154 (10/01 /2010)