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TABLE        OF CONTENTS

| ARTICLE                  I     |   | INTERPRETATION                  AND DEFINITIONS                                                              |   | 1      |
|--------------------------------|--------|--------------------------------------------------------------------------------------------------------------|--------|--------|
|                           |   |                                                                                                         |   |   |
| Section                  1.1.  |   | Definitions                                                                                                  |   | 1      |
|                           |   |                                                                                                         |   |   |
| ARTICLE                  II    |   | ORGANIZATION                                                                                                 |   | 9      |
|                           |   |                                                                                                         |   |   |
| Section                  2.1.  |   | Name                                                                                                         |   | 9      |
| Section                  2.2.  |   | Office                                                                                                       |   | 9      |
| Section                  2.3.  |   | Purpose                                                                                                      |   | 9      |
| Section                  2.4.  |   | Authority                                                                                                    |   | 9      |
| Section                  2.5.  |   | Title                  to Property of the Trust                                                              |   | 10     |
| Section                  2.6.  |   | Powers                  and Duties of the Trustees and the Administrators                                    |   | 10     |
| Section                  2.7.  |   | Prohibition                  of Actions by the Trust and the Trustees                                        |   | 14     |
| Section                  2.8.  |   | Powers                  and Duties of the Institutional Trustee                                              |   | 15     |
| Section                  2.9.  |   | Certain                  Duties and Responsibilities of the Trustees and the                  Administrators |   | 17     |
| Section                  2.10. |   | Certain                  Rights of Institutional Trustee                                                     |   | 19     |
| Section                  2.11. |   | Delaware                  Trustee                                                                            |   | 21     |
| Section                  2.12. |   | Execution                  of Documents                                                                      |   | 21     |
| Section                  2.13. |   | Not                  Responsible for Recitals or Issuance of Securities                                      |   | 21     |
| Section                  2.14. |   | Duration                  of Trust                                                                           |   | 22     |
| Section                  2.15. |   | Mergers                                                                                                      |   | 22     |
|                           |   |                                                                                                         |   |   |
| ARTICLE                  III   |   | SPONSOR                                                                                                      |   | 24     |
|                           |   |                                                                                                         |   |   |
| Section                  3.1.  |   | Sponsor's                  Purchase of Common Securities                                                     |   | 24     |
| Section                  3.2.  |   | Responsibilities                  of the Sponsor                                                             |   | 24     |
|                           |   |                                                                                                         |   |   |
| ARTICLE                  IV    |   | TRUSTEES                  AND ADMINISTRATORS                                                                 |   | 24     |
|                           |   |                                                                                                         |   |   |
| Section                  4.1.  |   | Number                  of Trustees                                                                          |   | 24     |
| Section                  4.2.  |   | Delaware                  Trustee                                                                            |   | 25     |
| Section                  4.3.  |   | Institutional                  Trustee; Eligibility                                                          |   | 25     |
| Section                  4.4.  |   | Certain                  Qualifications of the Delaware Trustee Generally                                    |   | 25     |
| Section                  4.5.  |   | Administrators                                                                                               |   | 26     |
| Section                  4.6.  |   | Initial                  Delaware Trustee                                                                    |   | 26     |
| Section                  4.7.  |   | Appointment,                  Removal and Resignation of the Trustee and the                  Administrators |   | 26     |

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| Section                  4.8.  |   | Vacancies                  Among Trustees                                                              |   | 28     |
|--------------------------------|--------|--------------------------------------------------------------------------------------------------------|--------|--------|
| Section                  4.9.  |   | Effect                  of Vacancies                                                                   |   | 28     |
| Section                  4.10. |   | Meetings                  of the Trustees and the Administrators                                       |   | 28     |
| Section                  4.11. |   | Delegation                  of Power                                                                   |   | 29     |
| Section                  4.12. |   | Merger,                  Conversion, Consolidation or Succession to Business                           |   | 29     |
|                           |   |                                                                                                   |   |   |
| ARTICLE                  V     |   | DISTRIBUTIONS                                                                                          |   | 29     |
|                           |   |                                                                                                   |   |   |
| Section                  5.1.  |   | Distributions                                                                                          |   | 29     |
|                           |   |                                                                                                   |   |   |
| ARTICLE                  VI    |   | ISSUANCE                  OF SECURITIES                                                                |   | 29     |
|                           |   |                                                                                                   |   |   |
| Section                  6.1.  |   | General                  Provisions Regarding Securities                                               |   | 29     |
| Section                  6.2.  |   | Paying                  Agent, Transfer Agent, Calculation Agent and Registrar                         |   | 30     |
| Section                  6.3.  |   | Form                  and Dating                                                                       |   | 31     |
| Section                  6.4.  |   | Mutilated,                  Destroyed, Lost or Stolen Certificates                                     |   | 31     |
| Section                  6.5.  |   | Temporary                  Certificates                                                                |   | 32     |
| Section                  6.6.  |   | Cancellation                                                                                           |   | 32     |
| Section                  6.7.  |   | Rights                  of Holders; Waivers of Past Defaults                                           |   | 32     |
|                           |   |                                                                                                   |   |   |
| ARTICLE                  VII   |   | DISSOLUTION                  AND TERMINATION OF TRUST                                                  |   | 34     |
|                           |   |                                                                                                   |   |   |
| Section                  7.1.  |   | Dissolution                  and Termination of Trust                                                  |   | 34     |
|                           |   |                                                                                                   |   |   |
| ARTICLE                  VIII  |   | TRANSFER                  OF INTERESTS                                                                 |   | 35     |
|                           |   |                                                                                                   |   |   |
| Section                  8.1.  |   | General                                                                                                |   | 35     |
| Section                  8.2.  |   | Transfer                  Procedures and Restrictions                                                  |   | 36     |
| Section                  8.3.  |   | Deemed                  Security Holders                                                               |   | 39     |
| Section                  8.4.  |   | Transfer                  of Intial Securities                                                         |   | 39     |
|                           |   |                                                                                                   |   |   |
| ARTICLE                  IX    |   | LIMITATION                  OF LIABILITY OF HOLDERS OF SECURITIES,                  TRUSTEES OR OTHERS |   | 39     |
|                           |   |                                                                                                   |   |   |
| Section                  9.1.  |   | Liability                                                                                              |   | 39     |
| Section                  9.2.  |   | Exculpation                                                                                            |   | 40     |
| Section                  9.3.  |   | Fiduciary                  Duty                                                                        |   | 40     |
| Section                  9.4.  |   | Indemnification                                                                                        |   | 41     |
| Section                  9.5.  |   | Outside                  Businesses                                                                    |   | 44     |
| Section                  9.6.  |   | Compensation;                  Fee                                                                     |   | 44     |

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| ARTICLE                  X     |  ACCOUNTING                                                                                  |   | 44     |
|--------------------------------|---------------------------------------------------------------------------------------------------|--------|--------|
|                           |                                                                                              |   |   |   |
| Section                  10.1. |  Fiscal                Year                                                                  | 45     |
| Section                  10.2. |  Certain                Accounting Matters                                                   |   | 45     |
| Section                  10.3. |  Banking                                                                                     |   | 46     |
| Section                  10.4. |  Withholding                                                                                 |   | 46     |
|                           |                                                                                              |   |   |
| ARTICLE                  XI    |  AMENDMENTS                AND MEETINGS                                                      |   | 46     |
|                           |                                                                                              |   |   |   |
| Section                  11.1. |  Amendments                                                                                  |   | 46     |
| Section                  11.2. |  Meetings                of the Holders of the Securities; Action by Written Consent         |   | 48     |
|                           |                                                                                              |   |   |   |
| ARTICLE                  XII   |  REPRESENTATIONS                OF INSTITUTIONAL TRUSTEE AND DELAWARE                TRUSTEE |   | 50     |
|                           |                                                                                              |   |   |   |
| Section                  12.1. |  Representations                and Warranties of Institutional Trustee                      |   | 50     |
| Section                  12.2. |  Representations                and Warranties of Delaware Trustee                           |   | 50     |
|                           |                                                                                              |   |   |   |
| ARTICLE                  XIII  |  MISCELLANEOUS                                                                               |   | 51     |
|                           |                                                                                              |   |   |   |
| Section                  13.1. |  Notices                                                                                     |   | 51     |
| Section                  13.2. |  Governing                Law                                                                |   | 52     |
| Section                  13.3. |  Submission                to Jurisdiction                                                   |   | 53     |
| Section                  13.4. |  Intention                of the Parties                                                     |   | 53     |
| Section                  13.5. |  Headings                                                                                    |   | 53     |
| Section                  13.6. |  Successors                and Assigns                                                       |   | 53     |
| Section                  13.7. |  Partial                Enforceability                                                       |   | 53     |
| Section                  13.8. |  Counterparts                                                                                |   | 54     |

| ANNEX                  I     |  TERMS                OF FLOATING RATE CAPITAL SECURITIES AND FLOATING RATE COMMON                SECURITIES |   | A-1 |
|------------------------------|-------------------------------------------------------------------------------------------------------------------|--------|-----|
| EXHIBIT                  A-1 |  FORM                OF CAPITAL SECURITY CERTIFICATE                                                         |   | A-1 |
| EXHIBIT                  A-2 |  FORM                OF COMMON SECURITY CERTIFICATE                                                          |   | A-2 |
| EXHIBIT                  B   |  FORM                OF TRANSFEREE CERTIFICATE TO BE EXECUTED BY TRANSFEREES OTHER THAN                QIBs  |   | B-1 |
| EXHIBIT                  C   |  FORM                OF TRANSFEROR CERTIFICATE TO BE EXECUTED FOR QIBs                                       |   | C-1 |
| EXHIBIT                  D   |  FORM                OF ADMINISTRATOR’S CERTIFICATE OF THE TRUST                                       |   | D-1 |

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ARTICLE      I

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ARTICLE      II

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ARTICLE III

ARTICLE      IV

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ARTICLE      V

ARTICLE      VI

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ARTICLE      VII

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ARTICLE      VIII  

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ARTICLE      IX

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ARTICLE X

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ARTICLE      XI

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ARTICLE      XII

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ARTICLE XIII

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|   | By: | ______________________________ |   |
|--------|-----|--------------------------------|--------|

|   | By: | ______________________________ |   |
|--------|-----|--------------------------------|--------|

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ANNEX      I

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| Special                Event Redemption During Period Beginning On | Percentage                of Principal Amount |
|--------------------------------------------------------------------|-----------------------------------------------|
| May                16, 2006                                        | 104.40                                        |
| June                23, 2007                                       | 103.52                                        |
| June                23, 2008                                       | 102.64                                        |
| June                23, 2009                                       | 101.76                                        |
| June                23, 2010                                       | 100.88                                        |
| June                23, 2011                                       | 100.00                                        |

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**EXHIBIT      A-1**

**FORM      OF CAPITAL SECURITY CERTIFICATE**

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|   | Dated:                ___________________________ |   |
|--------|---------------------------------------------------|--------|

|   | Dated:                ___________________________ |   |
|--------|---------------------------------------------------|--------|

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**EXHIBIT      A-2**

**FORM      OF COMMON SECURITY CERTIFICATE**

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**EXHIBIT            B**

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**EXHIBIT      C**

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**EXHIBIT      D**

|   |                            |   |
|--------|---------------------------------|--------|
|   | as                Administrator |   |

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