Company: BLE
Filing Date: 2025-02-18
Form Type: 40-17G
Source: 0001193125-25-027424
Chunk: 43

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-02-18
Form: 40-17G
Chunk 43
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 or through authority to draw upon such funds or to direct
generally the disposition of such securities. The Bond names each Fund as an insured, and complies with the requirements established by Rule 17g-1 under the 1940 Act.

2. The Bond is in an amount, based upon the total assets of each Fund, equal to or
in excess of the aggregate of the minimum coverage required for each of the Funds under Rule 17g-1. The minimum coverage required for a Fund under Rule 17g-1(d)(1) shall
be referred to herein as the “Minimum Coverage Amount.”

3. Each Fund will pay the
percentage of the premium due under the Bond which is proportionate to the ratio of its Minimum Coverage Amount to the aggregate amount of the Minimum Coverage Amounts for all of the Funds.

4.

(a) In the event any recovery under the Bond is received as a result of a loss sustained by any of the Funds, then each Fund
sustaining such loss shall receive an equitable and proportionate share of the recovery, said proportion to be established by the ratio that the claim bears to the total amount claimed by all participants, but at least equal to the amount which each
such Fund would have received had it provided and maintained a single insured bond with the Minimum Coverage Amount.

(b)
If the recovery is inadequate to indemnify fully each such Fund sustaining a loss, the recovery shall be allocated among such Funds as follows:

(i) Each Fund sustaining a loss shall be allocated an amount equal to the lesser of its actual loss or the Minimum Coverage
Amount.

(ii) The remaining portion of the proceeds shall be allocated to each Fund sustaining a loss not fully covered by
the allocation under subparagraph (i) in the proportion that each such Fund’s gross assets as of the end of its fiscal quarter preceding the loss bears to the sum of the gross assets of all such Funds. If such allocation would result in
any Fund sustaining a loss receiving a portion of the recovery in excess of the loss actually sustained by such Fund, the aggregate of such excess portions shall be allocated among the other Funds whose losses would not be fully indemnified in the
same proportion as each such Fund’s gross assets bear to the sum of the gross assets of all Funds entitled to receive a share of the excess (both determined as of the fiscal quarter of each Fund preceding the loss). Any allocation in excess of
a loss actually sustained by any such Fund shall be reallocated in the same manner.

5. Each Fund shall