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**CODE        OF ETHICS FOR SENIOR FINANCIAL OFFICERS**

***Introduction***

***Policy        Statement***
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***Ethics        Policy***
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| *1.  * | *Honesty                and Ethical Conduct.*                Each Senior Financial Officer will exhibit and promote the highest                standards of ethical conduct by:  |
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| (a)   | encouraging                and rewarding professional integrity in all aspects of the Trust’s                financial dealings by eliminating all inhibitions and barriers to                responsible behavior, such as coercion, fear or                alienation; |
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| (b)   | promoting                the ethical handling of actual or apparent conflicts of interest                between                personal and professional relationships. Each Senior Financial Officer                owes a duty to the Trust to adhere to a high standard of business                ethics                and should be sensitive to situations that may give rise to actual                as well                as apparent conflicts of interest. A conflict of interest occurs                when a                Senior Financial Officer’s private interest interferes with the interests                of his or her services to the Trust. In the event any Senior Financial                Officer becomes aware of any such conflict, he or she should promptly                report this violation to the Trust’s Corporate Director of Human Resources                and the chairman of the Audit Committee of the Trust’s Board of                Trustees; |
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| (c)   | providing                a mechanism for members of the Trust’s financial departments to inform                senior management of deviations in practice from established policies                and                procedures governing honest and ethical behavior;                and |
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| (d)   | demonstrating                his or her personal support for such policies and procedures by providing                periodic communications throughout the Trust’s financial departments that                will reinforce these ethical standards. |
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| *2.  * | *Financial                Records and Periodic Reporting.*                Senior Financial Officers will maintain the Trust’s transaction and                reporting systems and other procedures in a manner necessary to ensure                that: |
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| (a)   | all                of the Trust’s business transactions are property authorized and                completely                and accurately recorded in the Trust’s books and records in accordance                with generally accepted accounting principles and established financial                policies of the Trust; |
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| (b)   | the                retention or disposal of the Trust’s financial records is in accordance                with the Trust’s established practices for retention or disposal of such                records and applicable legal and regulatory requirements;                and |
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| (c)   | periodic                financial communications and reports will be delivered in a timely                manner                and in a way that demonstrates a high degree of clarity as to content                and                meaning in order to enable readers and users of the communications                and                reports to accurately determine their significance and                consequence. |
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| *3.  * | *Compliance                with Applicable Laws, Rules and Regulations.*Senior                Financial Officers will:  |
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| (a)   | educate                employees in the Trust’s financial departments about any federal, state or                local law, rule or regulation that affects the operation of the Trust’s                financial departments or the Trust in                general; |
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| (b)   | monitor                compliance by the Trust’s financial departments with any federal, state or                local law, rule or regulation; and |
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| (c)   | promptly                identify, report and correct any detected deviations from applicable                federal, state or local law, rule or                regulation. |
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***Enforcement        of the Code of Ethics***
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