UNITED
STATES
 SECURITIES
AND EXCHANGE COMMISSION
 Washington,
D.C. 20549
 ____________________
 
 FORM
10-K
  (Mark
One)
 
 [X]
              ANNUAL
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
      OF 1934
 For
the fiscal year ended December 31, 2009
 or
 [   ]
              TRANSITION
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
      OF 1934
 For
the transition period from     to
 
 Commission
File Number: 000-17202
 
 GOVERNMENT
TRUST 1-D
 (Exact
name of registrant as specified in its charter)
 
 Illinois
              36-6889513(State
      or other jurisdiction of
              (I.R.S.
      Employerincorporation
      or organization)
              Identification
      No.)The
      Bank of New York Mellon Trust Company, N.A.(formerly
      J.P. Morgan Trust Company, N.A.), Trustee2
      North LaSalle Street, Suite 1020Chicago,
      Illinois
              60602(Address
      of principal executive offices)
              (Zip
      Code)
 
 Registrant's
telephone number, including area code: (312) 827-8617
  Securities
registered pursuant to Section 12(b) of the Act: None
  Securities
registered pursuant to Section 12(g) of the Act: Zero
Coupon Certificates, Class 1-D
 
 Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in
Rule 405 of the Securities Act. Yes [  ]  No
[X]
 
 Indicate
by check mark if the registrant is not required to file reports pursuant to
Section 13 or Section 15(d) of the Act.  Yes
[  ]  No [X]
 
 Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.  Yes [X]  No
[  ]
  Indicate
by check mark whether the registrant has submitted electronically and posted on
its corporate Web site, if any, every Interactive Data File required to be
submitted and posted pursuant to Rule 405 of Regulation S-T (§
232.405 of this chapter) during the preceding 12 months (or for such shorter
period that the registrant was required to submit and post such
files).   Yes [  ]  No [X]
  Indicate
by check mark if disclosure of delinquent filers pursuant to Item 405 of
Regulation S-K (§ 232.405 of this chapter) is not contained herein, and will not
be contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-K
or any amendment to this Form 10-K.  Not Applicable.
 
 Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting
company.  See the definitions of "large accelerated filer,"
"accelerated filer" and "smaller reporting company" in Rule 12b-2 of the
Exchange Act.
 
 Large
      accelerated filer [   ]
              Accelerated
      filer [   ]Non-accelerated
      filer   [X]  (Do not check if a smaller reporting
      company)
              Smaller
      reporting company
[   ]
 
 Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Act).  Yes [ ]  No [X]
 
 State the
aggregate market value of the voting and non-voting common equity held by
non-affiliates  computed by reference to the price at which the common
equity was last sold, or the average bid and asked price of such
common equity, as of the last business day of the registrant's most
recently completed second fiscal quarter.   Not
Applicable
 
 Indicate
the number of shares outstanding of each of the registrant's classes of common
stock, as of the latest practicable date.  Not Applicable
 
 DOCUMENTS
INCORPORATED BY REFERENCE
 
 List
hereunder the following documents if incorporated by reference and the part of
the Form 10-K (e.g., Part I, Part II, etc.) into which the document is
incorporated:   (1)  Any annual report to security  holders;  (2) Any proxy
information statement;  and, (3) Any prospectus filed pursuant to Rule
424(b) or (c) under the  Securities Act of 1933.  The
listed documents should be clearly described for
identification purposes (e.g., annual report to security holders for
fiscal year ended date December 24,
1980).    None
  
  PART
I
  
 Item
      1.
              Business.
 
 Not
      Applicable.
 
 Item
      1A.
              Risk
      Factors.
 
 Not
      Applicable.
 
 Item
      1B.
              Unresolved
      Staff Comments.
 
 None.
 
 Item
      2.
              Properties.
 
 Not
      Applicable.
 
 Item
      3.
              Legal
      Proceedings.
 
 None.
 
 Item
      4.
              (Removed
      and Reserved).
 
 
 
 
 
  -2-
  PART
II
  
 Item
      5.
              Market
      for Registrant's Common Equity,  Related Stockholder Matters and
      Issuer Purchases ofEquity
      Securities.
 
 Certificate
      Holders as of December 31, 2009, Trust 1-D:
  1,036.
 
 Item
      6.
              Selected
      Financial Data.
 
 Not
      Applicable.
 
 Item
      7.
              Management's
      Discussion and Analysis of Financial Condition and Results of
      Operations.
 
 Not
      Applicable.
 
 Item
      7A.
              Quantitative
      and Qualitative Disclosures About Market
Risk.
 
 Not
      Applicable.
 
 Item
      8.
              Financial
      Statements and Supplementary Data.
 
 See
      Item 15. Exhibits, Financial Statement
  Schedules.
 
 Item
      9.
              Changes
      in and Disagreements with Accountants on Accounting and Financial
      Disclosure.
 
 None.
 
 Item
      9A.
              Controls
      and Procedures.
 
 As of the
end of the period covered by this report, an evaluation was carried out by
Lawrence M. Kusch, Vice President of the Trustee, of the effectiveness of the
Trust’s disclosure controls and procedures as defined in Exchange Act Rules
13a-15(e) and 15d-15(e).  Based on that evaluation, Mr. Kusch
concluded that the Trust’s disclosure controls and procedures
were  effective because such controls and procedures did ensure that a
report by management on the Trust’s internal control over financial reporting as
defined in Exchange Act Rules 13a-15(f) and 15d-15(f) was included in the
Trust’s Form 10-K for the year 2009.  Such report appears
below.
  Management
of the Trustee is responsible for establishing and maintaining adequate internal
control over financial reporting for the Trust, as such term is defined in
Exchange Act Rules 13a-15(f) and 15d-15(f).  Management of the Trustee
has assessed the effectiveness of the Trust’s internal control over financial
reporting as of December 31, 2009.  In making this assessment,
management used the criteria established in Internal Control – Integrated
Framework issued by the Committee of Sponsoring Organizations of the Treadway
Commission.  Based upon such assessment, management of the Trustee
believes that, as of December 31, 2009, the Trust’s internal control over
financial reporting is effective based upon those criteria.  This
annual report does not include an attestation report of the Trust’s registered
public accounting firm regarding internal control over financial
reporting.  Management’s report was not subject to attestation by the
Trust’s registered public accounting firm pursuant to temporary rules of the
Securities and Exchange Commission that permit the Trust to provide only
management’s report in this annual report.
  There
have not been any changes in the Trust’s internal controls and procedures for
financial reporting as defined in Exchange Act Rule 13a-15(f) and 15d-15(f)
during the fourth quarter of 2009 that have materially affected, or are
reasonably likely to materially affect, the Trust’s internal control over
financial reporting.
  Item
      9B.
              Other
      Information.
 
 None.
 
  -3-
  PART
III
  
 Item
      10.
              Directors,
      Executive Officers and Corporate
Governance.
 
 Not
      Applicable.
 
 Item
      11.
              Executive
      Compensation.
 
 Not
      Applicable.
 
 Item
      12.
              Security
      Ownership of Certain Beneficial Owners and Management
      and  Related Stockholder
Matters.
 
 Not
      Applicable.
 
 Item
      13.
              Certain
      Relationships and Related Transactions, and Director
      Independence.
 
 None.
 
 Item
      14.
              Principal
      Accounting Fees and Services.
 
 Deloitte
      & Touche LLP 2009 Audit Expense =
  $28,864.22.
 
  PART
IV
 Item
      15.
                Exhibits,
      Financial Statement Schedules.
 
 The
      following documents are filed as part of this
  report:
 
 (1)
                The
      information presented in each semi-annual
  report.
 
 (2)
                The
      report of the independent registered public accounting firm
      regarding the annual audit of the financial statements of the
      Trust required under the Declaration of Trust stating the financial
      statements are presented in accordance with accounting principles
      generally accepted in the United States of
  America.
 
 (3)
                Exhibits:
 
 31.1
                Certification by
      Trustee pursuant to Rule 13a-14 or 15d-14 of the Securities Exchange Act
      of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of
      2002
 
 32.1
                Certification
      by Trustee pursuant to Section 906 of the Sarbanes-Oxley Act of
      2002
  -4-
  
  SIGNATURE
 
 Pursuant
to the  requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly
authorized.
 
  GOVERNMENT
      TRUST 1-DBy:
              
              The
      Bank of New York Mellon Trust Company, N.A.(formerly
      J.P. Morgan Trust Company, N.A.)Not
      in its individual capacity but solelyas
      Trustee on behalf of the Government Trust 1-DBy:
              
              /s/
      Lawrence M. Kusch----------------------------------------------------Name:
              
              Lawrence
      M. KuschTitle:
              
              Vice
      PresidentDate:
              
              March
      30, 2010
 
 
  -5-
  
 REPORTS
TO HOLDERS OF GOVERNMENT TRUST
 MAY 15, 2009
    THE BANK
OF NEW YORK MELLON
  The Bank
of New York Mellon Trust Company, N.A.
 2 N.
LaSalle Street
 Chicago,
IL 60602
 
 May 18,
2009
 
 To: The
Holders of
 Government
Trust Certificates
 Zero
Coupon Class 1-D
 
 In
accordance with Section 4.1 of the Declaration of Trust ("Trust"), The Bank of
New York Mellon Trust Company, N.A. (formerly J.P. Morgan Trust Company, N.A.),
as Trustee and not in its individual capacity ("Trustee"), hereby provides the
holders of the above-mentioned certificates this Semi-annual Report relating to
the May 15, 2009 Certificate Payment Date.
 
 Any
capitalized terms used herein shall have the meaning assigned to them in the
Trust.
 
 1.  The
aggregate dollar amount distributed to holders of Class 1-D
 Certificates:    $113,421,718.38
 
 2.  The
Principal Balance of the Class 1-D Note after the May 4, 2009
 Note
Payment Date:   $332,885,000.00
 
 3.  The
Deficient amount of the Note Payment:  $-0-
 
 Neither a
delinquency in payment under any of the Notes nor an Event of Default has
occurred and is continuing.
 
 I,
Lawrence M. Kusch, a Responsible Officer of the Trustee, to the best of my
knowledge and belief, certify that this Semi-annual Report is complete and
accurate.  If you have any questions regarding this notice please
contact our Customer Service group directly at (800) 275-2048 for further
assistance.
 
 /s/
Lawrence M. Kusch
 ------------------------------
 Lawrence
M. Kusch
 AVP,
Relationship Manager
 For The
Bank of New York Mellon Trust Company, N.A.
 (formerly
J.P. Morgan Trust Company, N.A.), as
 Trustee
and not in its individual capacity.
 
 
  -6-
  REPORTS
TO HOLDERS OF GOVERNMENT TRUST
 NOVEMBER 16,
2009
   THE BANK
OF NEW YORK MELLON
  The Bank
of New York Mellon Trust Company, N.A.
 2 N.
LaSalle Street
 Chicago,
IL 60602
 
 November
16, 2009
 
 To: The
Holders of
 Government
Trust Certificates
 Zero
Coupon Class 1-D
 
 In
accordance with Section 4.1 of the Declaration of Trust ("Trust"), The Bank of
New York Mellon Trust Company, N.A. (formerly J.P. Morgan Trust Company, N.A.),
as Trustee and not in its individual capacity ("Trustee"), hereby provides the
holders of the above-mentioned certificates this Semi-annual Report relating to
the November 16, 2009 Certificate Payment Date.
 
 Any
capitalized terms used herein shall have the meaning assigned to them in the
Trust.
 
 1.  The
aggregate dollar amount distributed to holders of Class 1-D
 Certificates:    $109,917,338.44
 
 2.  The
Principal Balance of the Class 1-D Note after the November 3, 2009
 Note
Payment Date:   $239,175,000.00
 
 3.  The
Deficient amount of the Note Payment:  $-0-
 
 Neither a
delinquency in payment under any of the Notes nor an Event of Default has
occurred and is continuing.
 
 I,
Lawrence M. Kusch, a Responsible Officer of the Trustee, to the best of my
knowledge and belief, certify that this Semi-annual Report is complete and
accurate.  If you have any questions regarding this notice please
contact our Customer Service group directly at (800) 275-2048 for further
assistance.
 
 /s/
Lawrence M. Kusch
 ------------------------------
 Lawrence
M. Kusch
 VP,
Relationship Manager
 For The
Bank of New York Mellon Trust Company, N.A.
 (formerly
J.P. Morgan Trust Company, N.A.), as
 Trustee
and not in its individual capacity.
 
  -7-
   
 Government
      Trust 1-D
                Financial
      Statements as of and for theYear
      Ended
                December 31,
      2009 and Report ofIndependent
                Registered
      Public Accounting Firm
 -8-
  
  REPORT
      OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM
  Government
Trust 1-D
  We have
audited the accompanying balance sheet of Government Trust 1-D (the
“Trust”) as of December 31, 2009, and the related statements of income,
cash flows and changes in Trust balance for the year then ended. These financial
statements are the responsibility of the Trust’s management. Our responsibility
is to express an opinion on these financial statements based on our
audit.
  We
conducted our audit in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. The Trust is not required to have,
nor were we engaged to perform, an audit of its internal control over financial
reporting. Our audit included consideration of internal control over financial
reporting as a basis for designing audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Trust’s internal control over financial reporting.
Accordingly, we express no such opinion. An audit also includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial statement
presentation. Our procedures included confirmation of the securities held by the
Depository as of December 31, 2009 for the account of the Government of
Israel, for the purpose described in Note 4 of the notes to financial
statements, by correspondence with the Depository. We believe that our audit
provides a reasonable basis for our opinion.
  In our
opinion, such financial statements present fairly, in all material respects, the
financial position of Government Trust 1-D at December 31, 2009, the
results of its operations, cash flows and changes in Trust balance for the year
then ended, in conformity with accounting principles generally accepted in the
United States of America.
  /s/
Deloitte & Touche LLP
    Chicago,
Illinois
 March 30,
2010
   -9-
  
  GOVERNMENT
      TRUST 1-DBALANCE
      SHEETAS
      OF DECEMBER 31, 2009ASSETSLOAN
      NOTE RECEIVABLE — At amortized cost, inclusiveof
      unamortized premium of $599,060
                
                $
                239,774,060ACCRUED
      INTEREST RECEIVABLE
                
                
                3,755,114TOTAL
                
                $
                243,529,174LIABILITIES
      AND TRUST BALANCEACCRUED
      EXPENSE PAYABLE
                
                $
                2,887TRUST
      BALANCE — Comprised of owners’ equityin
      Government Trust Certificates
                
                
                243,526,287TOTAL
                
                $
                243,529,174See
      notes to financial statements.
 
   -10-
  
 GOVERNMENT
      TRUST 1-DSTATEMENT
      OF INCOMEFOR
      THE YEAR ENDED DECEMBER 31, 2009INTEREST
      INCOME ON THE LOAN NOTE
                
                $
                33,516,356TRUSTEE
      FEES AND OTHER EXPENSES
                
                
                (26,189
                )NET
      INCOME
                
                $
                33,490,167See
      notes to financial statements.
 
  -11-
  
 GOVERNMENT
      TRUST 1-DSTATEMENT
      OF CASH FLOWSFOR
      THE YEAR ENDED DECEMBER 31, 2009CASH
      FLOWS FROM OPERATING ACTIVITIES:Principal
      and interest received on the loan note
                
                $
                223,367,499Trustee
      fees and other expenses paid
                
                
                (28,443
                )Net
      cash provided by operating activities
                
                
                223,339,056CASH
      FLOWS USED IN FINANCINGACTIVITIES
      — Distributions to certificate owners
                
                
                (223,339,056
                )NET
      INCREASE IN CASH
                
                
                -CASH
      BALANCE — Beginning of year
                
                
                -CASH
      BALANCE — End of year
                
                $
                -RECONCILIATION
      OF NET INCOME TO NET CASHPROVIDED
      BY OPERATING ACTIVITIES:Net
      income
                
                $
                33,490,167Amortization
      of premium on loan note receivable
                
                
                513,438Decrease
      in loan note receivable
                
                
                186,411,000Decrease
      in accrued interest receivable
                
                
                2,926,705Decrease
      in accrued expenses
                
                
                (2,254
                )NET
      CASH PROVIDED BY OPERATING ACTIVITIES
                
                $
                223,339,056See
      notes to financial statements.
 
  -12-
  
 GOVERNMENT
      TRUST 1-DSTATEMENT
      OF CHANGES IN TRUST BALANCEFOR
      THE YEAR ENDED DECEMBER 31, 2009Distributions
      toTrust
      Balance,
                
                
                
                
                
                Certificate
                
                
                Trust
      Balance,January
      1, 2009
                
                
                Net
      Income
                
                
                Owners
                
                
                December
      31, 2009$
                433,375,176
                
                
                $
                33,490,167
                
                
                $
                (223,339,056
                )
                
                $
                243,526,287See
      notes to financial statements.
 
  -13-
  GOVERNMENT
TRUST 1-D
 
 NOTES
TO FINANCIAL STATEMENTS
 AS
OF AND FOR THE YEAR ENDED DECEMBER 31, 2009
 1.
                ORGANIZATION
      AND OPERATIONS
  Government
Trust 1-D (the “Trust”) is a limited purpose trust established under the
laws of the state of Illinois pursuant to a Declaration of Trust (the
“Declaration”) between the Trust and The Bank of New York Mellon Trust Company,
N.A. (formerly, The Bank of New York Trust Company, N.A., formerly, JPMorgan
Trust Company, N.A., formerly, Bank One Trust Company, N.A., formerly, First
National Bank of Chicago), as Trustee (the “Trustee”). The Trust was created for
the sole purpose of the issuance and sale of a single class of Zero Coupon
Certificates (the “Certificates”). The assets of the Trust consist of a
Promissory Note (a “Loan Note”) from the Government of Israel (“Israel”). The
Loan Note is backed by a full faith and credit guaranty (the “Guaranty”) issued
by the United States of America, acting through the Defense Security Assistance
Agency of the Department of Defense (the DSA), of the due and punctual payment
of 90% of all payments of principal and interest due on the Loan Note (the
“Guaranteed Portion”) and a security interest in certain collateral, consisting
of non-callable securities issued or guaranteed by the United States Government,
sufficient to pay the remaining 10% of all payments of principal and interest
due on the Loan Note (the “Unguaranteed Secured Portion”). The Loan Note and
Certificates will not be subject to prepayment or acceleration.
   2.
                LOAN
      NOTE RECEIVABLE
  The Loan
Note in the original principal amount of $1,300,000,000 evidences a loan made by
the Trust to Israel subject to the terms and conditions of a Loan Agreement (the
“Loan Agreement”) dated as of September 29, 1988, between the Trust and
Israel. The Loan Note is carried at amortized cost on the accompanying Balance
Sheet because of the Trust’s intent and ability to hold the Loan Note to
maturity. The proceeds from the Loan Note were used to prepay certain loans made
to Israel from the Federal Financing Bank. Semi-annual payments of interest at
an annual rate of 9.7450% are due on the Loan Note on each May 3 and November 3
(each a “Note Payment Date”). On May 3, 2009 and November 3, 2009
Note Payment Dates, Israel made its scheduled payments of principal on the
Loan Note in the amounts of $92,701,000 and $93,710,000, respectively. Scheduled
principal payments are due on each Note Payment Date as
follows:
  Payment
                
                Principal
                
                Payment
                
                PrincipalDate
                
                Payment
                
                Date
                
                PaymentMay
      3, 2010
                
                $
                41,800,000
                
                May
      3, 2012
                
                $
                22,773,000November
      3, 2010
                
                
                47,368,000
                
                November
      3, 2012
                
                
                16,877,000May
      3, 2011
                
                
                47,368,000
                
                May
      3, 2013
                
                
                16,877,000November
      3, 2011
                
                
                29,248,000
                
                November
      3, 2013
                
                
                16,864,000
 
  The
Government of the United States, acting through the DSA, has agreed to guarantee
the repayment of the Guaranteed Portion due to the Trust under the Loan Note.
Israel has agreed to pledge certain collateral as security for the repayment of
the Unguaranteed Secured Portion, as more fully described in Note 4. The
estimated fair value of the Loan Note approximates the fair value of the
Certificates. The estimated fair value of the Certificates at December 31,
2009 was approximately $271,804,000. The estimate of the fair value of the
Certificates is based upon the present values of the cash flows using
risk-adjusted spreads to the U.S. Treasury curve.
   3.
                THE
      ZERO COUPON CERTIFICATES
  On
September 29, 1988, the Trust issued 51 separate series of
Certificates, Class 1-D. Forty-three of such series of Certificates matured
prior to December 31, 2009. Each of the remaining series of Certificates
will mature on one of the semi-annual certificate payment dates from
May 15, 2010 to November 15, 2013 (each, a “Maturity Date”). Scheduled
distributions are due on the Maturity Dates as follows:
  Maturity
                
                Distribution
                
                Maturity
                
                DistributionDate
                
                Amount
                
                Date
                
                AmountMay
      15, 2010
                
                $
                53,444,833
                
                May
      15, 2012
                
                $
                26,346,224November
      15, 2010
                
                
                56,977,695
                
                November
      15, 2012
                
                
                19,341,464May
      15, 2011
                
                
                56,671,466
                
                May
      15, 2013
                
                
                18,519,765November
      15, 2011
                
                
                34,245,236
                
                November
      15, 2013
                
                
                17,685,066
 
  Each of
the Certificates evidences an undivided fractional interest in the Trust, and
represents the right to receive a portion of the semi-annual payments due on the
Loan Note held by the Trust.
   4.
                THE
      COLLATERAL
  In
accordance with the Collateral Depository Agreement (the “Depository Agreement”)
between Israel, the Trustee, and The Bank of New York Mellon, as depository (the
“Depository”), and in order to provide security for the payment of the
Unguaranteed Secured Portion, Israel has pledged certain collateral, consisting
of non-callable securities issued or guaranteed by the United States Government
(together with the proceeds thereof, the “Collateral”). The Collateral is of
such amounts and has such payment dates as to enable the Trustee to receive on
or immediately prior to each semi-annual Maturity Date an amount sufficient to
pay the Unguaranteed Secured Portion if timely payment on the Loan Note has not
been received by the related Note Payment Date. All of the Collateral was
deposited with the Depository on the date that the loans evidenced by the Loan
Note were made by the Trust to Israel.
  -14-
  5.
                THE
      TRUSTEE
  Pursuant
to the Declaration, the Trustee established a separate trust account for the
Trust. All payments received with respect to the Loan Note, the Guaranty and any
relevant Collateral are deposited in the trust account for the benefit of the
holders of the Certificates after deducting fees of the Trustee and any
additional expenses of the Trust. Any excess funds remaining in the trust
account after the payment of principal on the Certificates will revert back to
Israel to the extent such funds were provided by Israel but not needed for the
above purpose.
   6.
                INCOME
      TAXES
  The Trust
is classified as a Grantor Trust and will not be subject to Federal income
taxes. Each Certificate holder will be treated for Federal income tax purposes
as the owner of a pro rata undivided fractional interest in the assets held
by the Trust. The difference between the financial reporting and income tax
bases of the Trust’s assets and liabilities is not significant.
  In July
2006, the Financial Accounting Standards Board (“FASB”) released ASC 740 Income Taxes (formerly, FASB
Interpretation No. 48, Accounting for Uncertainty in Income
Taxes), which is effective for fiscal years beginning after
December 15, 2006. This guidance prescribes a comprehensive model for how
an entity should recognize, measure, present and disclose in its financial
statements uncertain tax positions that the entity has taken or expects to take
on a tax return. The Trust adopted ASC 740 Income Taxes effective
January 1, 2007 for all open tax years and has determined that no material
uncertain tax positions exist. As a result, the Trust has not recorded any
liabilities for material unrecognized tax benefits as of December 31,
2009.
  7.
                SUBSEQUENT
      EVENTS
  There
have been no subsequent events that require recognition or disclosure in the
financial statements.
  ******
   -15-