Document:

<PAGE>

                                                                    EXHIBIT 10.7

                      CHANGE IN CONTROL SEVERANCE AGREEMENT
                      -------------------------------------

     THIS CHANGE IN CONTROL SEVERANCE AGREEMENT ("Agreement") entered into this
1st day of January, 2002 ("Effective Date"), by and between Heritage Bank (the
"Bank") and Mary Jo Rogers (the "Employee").

     WHEREAS, the Employee is currently employed by the Bank as Senior Vice
President and is experienced in all phases of the financial service industry and
the business of the Bank; and

     WHEREAS, the parties desire by this writing to set forth the rights and
responsibilities of the Bank and Employee if the Bank should undergo a change in
control (as defined hereinafter in the Agreement) after the Effective Date.

     NOW, THEREFORE, it is AGREED as follows:

     1.   Employment.
          ----------

     The Employee is employed in the capacity as the Senior Vice President of
the Bank. The Employee shall render such administrative and management services
to the Bank and CCF Holding Company ("Parent") as are currently rendered and as
are customarily performed by persons situated in a similar executive capacity.
The Employee's other duties shall be such as the President or the Board of
Directors for the Bank (the "Board of Directors" or "Board") may from time to
time reasonably direct, including normal duties as an officer of the Bank and
the Parent.

     2.   Term of Agreement.
          -----------------

     The term of this Agreement shall be for the period commencing on the
Effective Date and ending twelve (12) months thereafter ("Term"). The term of
this Agreement may be extended for up to an additional one year period beyond
the then effective expiration date upon a determination and resolution of the
Board of Directors that the performance of the Employee has met the requirements
and standards of the Board, and that the Term of such Agreement shall be
extended.

     3.   Termination of Employment in Connection with or Subsequent to a Change
          ----------------------------------------------------------------------
          in Control.
          ----------

     (a) Notwithstanding any provision herein to the contrary, in the event of
the involuntary termination of Employee's employment under this Agreement,
absent Just Cause, in connection with, or within twelve (12) months after, and
Change in Control of the Bank or Parent, Employee shall be paid an amount equal
to 100% of the taxable compensation paid to Employee by the Bank for the twelve
month period prior to the date of termination of employment (whether said
amounts were received or deferred by the Employee) and the costs associated with
maintaining coverage under the Bank's medical and dental insurance reimbursement
plans similar to that in effect on the date of termination of employment for a
period of one year thereafter. Said sum shall be paid, at the option of
Employee, either in one (1) lump sum within thirty (30) days of such termination
discounted to the present value of such payment using as the discount rate the
"prime rate" as published in the Wall Street Journal Eastern Edition as of the
date of such payment minus 100 basis points, or in periodic payments over the
next 12 months, and such payments shall be in lieu of any other future payments
which the Employee would be otherwise entitled to receive. Notwithstanding the
forgoing, all sums payable hereunder shall be reduced in such manner and to such
extent so that no such payments made hereunder when aggregated with all other
payments to be made to the Employee by the Bank or the Parent shall be deemed an
"excess parachute payment" in accordance with Section 280G of the Internal
Revenue Codes of 1986, as amended (the "Code") and be subject to the excise tax
provided at Section 4999 (a) of the Code. The term "Change in Control" shall
mean: (i) the execution of an agreement for the sale of all, or a material
portion, of the assets of the Bank or the Parent; (ii) the execution of an
agreement for a merger or recapitalization of the Bank or the Parent or any
merger or recapitalization whereby the Bank or the Parent is not the surviving
entity; (iii) a change in control of the Bank or the Parent, as otherwise
defined or determined by the Georgia Department of Banking and Finance or the
Federal Deposit Insurance Corporation or regulations

<PAGE>

promulgated by them; or (iv) the acquisition, directly or indirectly, of the
beneficial ownership (within the meaning of that term as it is used in Section
13 (d) of the Securities Exchange Act of 1934 and the rules and regulations
promulgated thereunder) of twenty-five percent (25%) or more of the outstanding
voting securities of the Bank or the Parent by any person, trust, entity or
group. The term "person" means an individual other than the Employee, or a
corporation, partnership, trust, association, joint venture, pool, syndicate,
sole proprietorship, unincorporated organization or any other form of entity not
specifically listed herein.

     (b) Notwithstanding any other provision of this Agreement to the contrary
except as provided at Sections 4 (b), 4 (c), 4 (d), 4 (e) and 5, Employee may
voluntarily terminate her employment under this Agreement within twenty-four
months following a Change in Control of the Bank or Parent, and Employee shall
thereupon be entitled to receive the payment and benefits described in Section 3
(a) of this Agreement, upon the occurrence, or within ninety (90) days
thereafter, of any of the following events, which have not been consented to in
advance by the Employee in writing: (i) if Employee would be required to move
her personal residence or perform her principal executive functions more than
thirty-five (35) miles from the Employee's primary office as of the signing of
this Agreement; (ii) if the Bank or Parent should fail to maintain the
Employee's base compensation in effect as of the date of the Change in Control
and existing employee benefits plans, including material fringe benefit, stock
option and retirement plans, except to the extent that such reduction in benefit
programs is part of an overall adjustment in benefits for all employees of the
Bank or Parent and does not disproportionately adversely impact the Employee;
(iii) if Employee would be assigned duties and responsibilities other than those
normally associated with her position as referenced at Section 1, herein; or
(iv) if Employee's responsibilities or authority have in any way been materially
diminished or reduced.

     4.   Other Changes in Employment Status.
          ----------------------------------

     (a) Except as provided for at Section 3, herein, the Board of Directors may
terminate the Employee's employment at any time with or without Just Cause
within its sole discretion. This Agreement shall not be deemed to give Employee
any right to be retained in the employment or service of the Bank, or to
interfere with the right of the Bank to terminate the employment of the Employee
at any time. The Employee shall have no right to receive compensation or other
benefits for any period after termination for Just Cause. Termination for "Just
Cause" shall include termination because of the Employee's personal dishonesty,
incompetence, willful misconduct, breach of fiduciary duty involving personal
profit, intentional failure to perform stated duties, willful violation of any
law, rule or regulation (other than traffic violations or similar offenses) or
final cease-and-desist order, or material breach of any provision of the
Agreement.

     (b) If the Employee is removed and/or permanently prohibited from
participating in the conduce of the Bank's affairs by an order issued under
Sections 8 (e) (4) or 8 (g) (1) of the Federal Deposit Insurance Act ("FDIA")
(12 U.S.C. 1818 (e) (4) and (g) (1) ), all obligations of the Bank under this
Agreement shall terminate, as of the effective date of the order, but the vested
rights of the parties shall not be affected.

     (c) If the Bank is in default (as defined in Section 3 (x) (1) of FDIA) all
obligations under this Agreement shall terminate as of the date of default, but
this paragraph shall not affect any vested rights of the contracting parties.

     (d) All obligations under this Agreement shall be terminated, except to the
extent determined that continuation of this Agreement is necessary for the
continued operation of the Bank: (i) by the Bank's primary regulator, or his or
her designee, at the time that the Federal Deposit Insurance Corporation
("FDIC") enters into an agreement to provide assistance to or on behalf of the
Bank under the authority contained in Section 13 (c) of FDIA; or (ii) by the
Bank's primary regulator, or his or her designee, at the time that they, or his
or her designee approves a supervisory merger to resolve problems related to
operation of the Bank or when the Bank is determined by the Georgia Department
of Banking and Finance to be in an unsafe or unsound condition. Any rights of
the parties that have already vested, however, shall not be affected by such
action.

     (e) Notwithstanding anything herein to the contrary, any payments made to
the Employee pursuant to the Agreement, or otherwise, shall be subject to and
conditioned upon compliance with 12 USC 1828 (k) and any regulations promulgated
thereunder.

<PAGE>

     5.   Suspension of Employment.
          ------------------------

     If the Employee is suspended and/or temporarily prohibited from
participating in the conduct of the Bank's affairs by a notice served under
Section 8 (e) (3) or (g) (1) of the FDIA (12 U.S.C. 1818 (e) (3) and (g) (1) ),
the Bank's obligations under the Agreement shall be suspended as of the date of
service, unless stayed by appropriate proceedings. If the charges in the notice
are dismissed, the Bank may in its discretion (i) pay the Employee all or part
of the compensation withheld while its contract obligations were suspended and
(ii) reinstate any of its obligations which were suspended.

     6.   Successors and Assigns.
          ----------------------

     (a) This agreement shall inure to the benefit of and be binding upon any
corporate or other successor of the Bank which shall acquire, directly or
indirectly, by merger, consolidation, purchase or otherwise, all or
substantially all of the assets or stock of the Bank.

     (b) The Employee shall be precluded from assigning or delegating her rights
or duties hereunder without first obtaining the written consent of the Bank.

     7.   Amendments.
          ----------

     No amendments or additions to this Agreement shall be binding upon the
parties hereto unless made in writing and signed by both parties, except as
herein otherwise specifically provided.

     8.   Applicable Law.
          --------------

     This agreement shall be governed by all respects whether as to validity,
construction, capacity, performance or otherwise, by the laws of the State of
Georgia, except to the extent that Federal law shall be deemed to apply.

     9.   Severability.
          ------------

     The provisions of this Agreement shall be deemed severable and the
invalidity or unenforceability of any provision shall not affect the validity or
enforceability of the other provisions hereof.

     10.  Arbitration.
          -----------

     Any controversy or claim arising out of or relating to this Agreement, or
the breach thereof, shall be settled by arbitration in accordance with the rules
then in effect of the district office of the American Arbitration Association
("AAA") nearest to the home office of the Bank, and judgment upon the award
rendered may be entered in any court having jurisdiction thereof, except to the
extent that the parties may otherwise reach a mutual settlement of such issue.
The Bank shall reimburse Employee for all reasonable costs and expenses,
including reasonable attorneys' fees, arising from such dispute, proceedings or
actions, following the delivery of the decision of the arbitrator finding in
favor of the Employee. Further, the settlement of the dispute to be approved by
the Board of the Bank or the Parent may include a provision for the
reimbursement by the Bank or Parent to the Employee for all reasonable costs and
expenses, including reasonable attorneys' fees, arising from such dispute,
proceedings or actions, or the Board of the Bank or the Parent may authorize
such reimbursement of such reasonable costs and expenses by separate action upon
a written action and determination of the Board following settlement of the
dispute.

     11.  Entire Agreement.
          ----------------

     This Agreement together with any understanding or modifications thereof as
agreed to in writing by the parties, shall constitute the entire agreement
between the parties hereto.

<PAGE>

     IN WITNESS WHEREOF, the parties have executed this Agreement on the day and
first hereinabove written.

                                                     Heritage Bank

ATTEST:                                              By: /s/ David B. Turner
                                                        ------------------------
/s/ Charles S. Tucker                                   David B. Turner
-------------------------
Charles S. Tucker
Secretary

WITNESS:

/s/ Lynn F. Wynn                                     /s/ Mary Jo Rogers
-------------------------                            ---------------------------
Lynn F. Wynn                                         Mary Jo Rogers, Employee<PAGE>

                                                                    EXHIBIT 10.8

                              AMENDED AND RESTATED

                                 TRUST AGREEMENT

                                      Among

                               CCF HOLDING COMPANY
                                  as Depositor,

                            WILMINGTON TRUST COMPANY
                              as Property Trustee,

                            WILMINGTON TRUST COMPANY,
                            as Delaware Trustee, and

                              LEONARD A. MORELAND,
                                 MARY JO ROGERS
                                       and
                                DAVID B. TURNER,
                                as Administrators

                          Dated as of February 1, 2002

                               -------------------

                               CCF CAPITAL TRUST I

                               -------------------

<PAGE>

                               CCF CAPITAL TRUST I

    Certain Sections of this Trust Agreement relating to Sections 310 through
                     318 of the Trust Indenture Act of 1939:

Trust Indenture Act Section                              Trust Agreement Section
---------------------------                              -----------------------
Section  310  (a)(1).........................................................8.7
              (a)(2).........................................................8.7
              (a)(3).........................................................8.9
              (a)(4)..................................................2.7(a)(ii)
              (b)..................................................8.8, 10.10(b)
Section  311  (a).................................................8.13, 10.10(b)
              (b).................................................8.13, 10.10(b)
Section  312  (a).......................................................10.10(b)
              (b)..................................................10.10(b), (f)
              (c)............................................................5.7
Section  313  (a)........................................................8.15(a)
              (a)(4)....................................................10.10(c)
              (b)..............................................8.15(c), 10.10(c)
              (c).................................................10.8, 10.10(c)
              (d).......................................................10.10(c)
Section  314  (a).................................................8.16, 10.10(d)
              (b).................................................Not Applicable
              (c)(1).........................................8.17, 10.10(d), (e)
              (c)(2).........................................8.17, 10.10(d), (e)
              (c)(3).........................................8.17, 10.10(d), (e)
              (e).................................................8.17, 10.10(e)
Section  315  (a).........................................................8.1(d)
              (b)............................................................8.2
              (c).........................................................8.1(c)
              (d).........................................................8.1(d)
              (e).................................................Not Applicable
Section  316  (a).................................................Not Applicable
              (a)(1)(A)...........................................Not Applicable
              (a)(1)(B)...........................................Not Applicable
              (a)(2)..............................................Not Applicable
              (b)...........................................................5.13
              (c)............................................................6.7
Section  317  (a)(1)..............................................Not Applicable
              (a)(2)........................................................8.14
              (b)...........................................................5.10
Section  318  (a).......................................................10.10(a)

Note: This reconciliation and tie shall not, for any purpose, be deemed to be a
      part of the Trust Agreement.

<PAGE>

                                TABLE OF CONTENTS
                                -----------------

<TABLE>
<CAPTION>
                                                                                                          Page
                                                                                                          ----
<S>                   <C>                                                                                   <C>
ARTICLE I             DEFINED TERMS..........................................................................1
      SECTION 1.1.    Definitions............................................................................1

ARTICLE II            CONTINUATION OF THE ISSUER TRUST......................................................12
      SECTION 2.1.    Name..................................................................................12
      SECTION 2.2.    Office of the Delaware Trustee; Principal Place of Business...........................12
      SECTION 2.3.    Initial Contribution of Trust Property; Organizational Expenses.......................13
      SECTION 2.4.    Issuance of the Restricted Capital Securities.........................................13
      SECTION 2.5.    Issuance of the Common Securities; Subscription and Purchase of Junior Subordinated
                      Debentures............................................................................13
      SECTION 2.6.    Declaration of Trust..................................................................13
      SECTION 2.7.    Authorization to Enter into Certain Transactions......................................14
      SECTION 2.8.    Assets of Trust.......................................................................17
      SECTION 2.9.    Title to Trust Property...............................................................17

ARTICLE III           PAYMENT ACCOUNT.......................................................................17
      SECTION 3.1.    Payment Account.......................................................................17

ARTICLE IV            DISTRIBUTIONS; REDEMPTION.............................................................18
      SECTION 4.1.    Distributions.........................................................................18
      SECTION 4.2.    Redemption............................................................................19
      SECTION 4.3.    Subordination of Common Securities....................................................21
      SECTION 4.4.    Payment Procedures....................................................................22
      SECTION 4.5.    Tax Returns and Reports...............................................................22
      SECTION 4.6.    Payment of Taxes, Duties, Etc. of the Issuer Trust....................................23
      SECTION 4.7.    Payments under Indenture or Pursuant to Direct Actions................................23
      SECTION 4.8.    Liability of the Holder of Common Securities..........................................23

ARTICLE V             TRUST SECURITIES CERTIFICATES.........................................................23
      SECTION 5.1.    Initial Ownership.....................................................................23
      SECTION 5.2.    The Trust Securities Certificates.....................................................23
      SECTION 5.3.    Execution and Delivery of Trust Securities Certificates...............................24
      SECTION 5.4.    Global Capital Securities.............................................................24
      SECTION 5.5.    Registration of Transfer and Exchange Generally; Certain
                      Transfers and Exchanges; Capital Securities Certificates;
                      Securities Act Legends................................................................26
      SECTION 5.6.    Mutilated, Destroyed, Lost or Stolen Trust Securities Certificates....................29
      SECTION 5.7.    Persons Deemed Holders................................................................29
</TABLE>

<PAGE>

<TABLE>
<S>                   <C>                                                                                   <C>
      SECTION 5.8.    Access to List of Holders' Names and Addresses........................................30
      SECTION 5.9.    Maintenance of Office or Agency.......................................................30
      SECTION 5.10.   Appointment of Paying Agent...........................................................30
      SECTION 5.11.   Ownership of Common Securities by Depositor...........................................31
      SECTION 5.12.   Notices to Clearing Agency............................................................31
      SECTION 5.13.   Rights of Holders.....................................................................31

ARTICLE VI            ACTS OF HOLDERS; MEETINGS; VOTING.....................................................33
      SECTION 6.1.    Limitations on Holders' Voting Rights.................................................34
      SECTION 6.2.    Notice of Meetings....................................................................34
      SECTION 6.3.    Meetings of Holders...................................................................35
      SECTION 6.4.    Voting Rights.........................................................................35
      SECTION 6.5.    Proxies, etc..........................................................................35
      SECTION 6.6.    Holder Action by Written Consent......................................................36
      SECTION 6.7.    Record Date for Voting and Other Purposes.............................................36
      SECTION 6.8.    Acts of Holders.......................................................................36
      SECTION 6.9.    Inspection of Records.................................................................37

ARTICLE VII           REPRESENTATIONS AND WARRANTIES........................................................37
      SECTION 7.1.    Representations and Warranties of the Property Trustee and the Delaware Trustee.......37
      SECTION 7.2.    Representations and Warranties of Depositor...........................................38

ARTICLE VIII          THE ISSUER TRUSTEES; THE ADMINISTRATORS...............................................39
      SECTION 8.1.    Certain Duties and Responsibilities...................................................39
      SECTION 8.2.    Certain Notices.......................................................................41
      SECTION 8.3.    Certain Rights of Property Trustee....................................................42
      SECTION 8.4.    Not Responsible for Recitals or Issuance of Securities................................43
      SECTION 8.5.    May Hold Securities...................................................................43
      SECTION 8.6.    Compensation; Indemnity; Fees.........................................................43
      SECTION 8.7.    Corporate Property Trustee Required; Eligibility of Trustees and Administrators.......45
      SECTION 8.8.    Conflicting Interests.................................................................45
      SECTION 8.9.    Co-Trustees and Separate Trustee......................................................45
      SECTION 8.10.   Resignation and Removal; Appointment of Successor.....................................47
      SECTION 8.11.   Acceptance of Appointment by Successor................................................48
      SECTION 8.12.   Merger, Conversion, Consolidation or Succession to Business...........................48
      SECTION 8.13.   Preferential Collection of Claims Against Depositor or Issuer Trust...................49
      SECTION 8.14.   Trustee May File Proofs of Claim......................................................49
      SECTION 8.15.   Reports by Property Trustee...........................................................50
      SECTION 8.16.   Reports to the Property Trustee.......................................................50
      SECTION 8.17.   Evidence of Compliance with Conditions Precedent......................................50
      SECTION 8.18.   Number of Issuer Trustees.............................................................50
</TABLE>

                                       ii

<PAGE>

<TABLE>
<S>                   <C>                                                                                   <C>
      SECTION 8.19.   Delegation of Power...................................................................51
      SECTION 8.20.   Appointment of Administrators.........................................................51

ARTICLE IX            DISSOLUTION, LIQUIDATION AND MERGER...................................................52
      SECTION 9.1.    Dissolution Upon Expiration Date......................................................52
      SECTION 9.2.    Early Dissolution.....................................................................52
      SECTION 9.3.    Termination...........................................................................52
      SECTION 9.4.    Liquidation...........................................................................53
      SECTION 9.5.    Mergers, Consolidations, Amalgamations or Replacements of the Issuer Trust............54

ARTICLE X             MISCELLANEOUS PROVISIONS..............................................................55
      SECTION 10.1.   Limitation of Rights of Holders.......................................................55
      SECTION 10.2.   Amendment.............................................................................55
      SECTION 10.3.   Separability..........................................................................57
      SECTION 10.4.   Governing Law.........................................................................57
      SECTION 10.5.   Payments Due on Non-Business Day......................................................57
      SECTION 10.6.   Successors............................................................................58
      SECTION 10.7.   Headings..............................................................................58
      SECTION 10.8.   Reports, Notices and Demands..........................................................58
      SECTION 10.9.   Agreement Not to Petition.............................................................59
      SECTION 10.10.  Trust Indenture Act; Conflict with Trust Indenture Act................................59
      SECTION 10.11.  Acceptance of Terms of Trust Agreement, Guarantee and Indenture.......................60
</TABLE>

Exhibit A     Certificate of Trust
Exhibit B     Form of Restricted Securities Certificate
Exhibit C     Form of Common Securities Certificate
Exhibit D     Form of Capital Securities Certificate
Exhibit E     Form of Placement Agreement

                                      iii

<PAGE>

                      AMENDED AND RESTATED TRUST AGREEMENT

          THIS AMENDED AND RESTATED TRUST AGREEMENT, dated as of February 1,
2002, is by and among (i) CCF Holding Company, a Georgia corporation (including
any successors or assigns, the "Depositor"), (ii) Wilmington Trust Company, a
                                ---------
Delaware banking corporation, as property trustee (in such capacity, the
"Property Trustee" and, in its separate corporate capacity and not in its
 ----------------
capacity as Property Trustee or Delaware Trustee, the "Bank"), (iii) Wilmington
                                                       ----
Trust Company, a Delaware banking corporation, as Delaware trustee (in such
capacity, the "Delaware Trustee") (the Property Trustee and the Delaware Trustee
               ----------------
are referred to collectively herein as the "Issuer Trustees"), (iv) the
                                            ---------------
Administrators, as hereinafter defined, and (v) the several Holders, as
hereinafter defined.

                                   WITNESSETH

          WHEREAS, the Depositor and the Delaware Trustee have heretofore duly
declared and established a business trust pursuant to the Delaware Business
Trust Act by entering into a certain Trust Agreement, dated as of January 7,
2002 (the "Original Trust Agreement"), and by the execution and filing by the
           ------------------------
Delaware Trustee with the Secretary of State of the State of Delaware of the
Certificate of Trust, filed on January 7, 2002 (the "Certificate of Trust"),
                                                     --------------------
attached as Exhibit A; and
            ---------

          WHEREAS, the Depositor and the Delaware Trustee desire to amend and
restate the Original Trust Agreement in its entirety as set forth herein to
provide for, among other things, (i) the issuance of the Common Securities by
the Issuer Trust to the Depositor, (ii) the issuance and sale of the Capital
Securities by the Issuer Trust pursuant to the Placement Agreement, (iii) the
acquisition by the Issuer Trust from the Depositor of all of the right, title
and interest in the Junior Subordinated Debentures, (iv) the appointment of the
Administrators and (v) the addition of the Property Trustee as a party to this
Trust Agreement.

          NOW THEREFORE, in consideration of the agreements and obligations set
forth herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, each party, intending to be
legally bound, for the benefit of the other parties and for the benefit of the
Holders, hereby amends and restates the Original Trust Agreement in its entirety
and agrees, as follows:

                                    ARTICLE I

                                  DEFINED TERMS

          SECTION 1.1. Definitions.

          For all purposes of this Trust Agreement, except as otherwise
expressly provided or unless the context otherwise requires:

<PAGE>

          (1) The terms defined in this Article have the meanings assigned to
them in this Article and include the plural as well as the singular;

          (2) All other terms used herein that are defined in the Trust
Indenture Act, either directly or by reference therein, have the meanings
assigned to them therein;

          (3) The words "include," "includes" and "including" shall be deemed to
be followed by the phrase "without limitation";

          (4) All accounting terms used but not defined herein have the meanings
assigned to them in accordance with United States generally accepted accounting
principles as in effect at the time of determination;

          (5) Unless the context otherwise requires, any reference to an
"Article" or a "Section" refers to an Article or a Section, as the case may be,
of this Trust Agreement;

          (6) The words "herein", "hereof" and "hereunder" and other words of
similar import refer to this Trust Agreement as a whole and not to any
particular Article, Section or other subdivision; and

          (7) All references to the date the Capital Securities were originally
issued shall refer to February 1, 2002.

          "Act" has the meaning specified in Section 6.8.

          "Additional Amounts" means, with respect to Trust Securities of a
given Liquidation Amount and/or a given period, the amount of Additional
Interest (as defined in the Indenture) paid by the Depositor on a Like Amount of
Junior Subordinated Debentures for such period.

          "Additional Sums" has the meaning specified in Section 10.6 of the
Indenture.

          "Administrators" means each Person appointed in accordance with
Section 8.20 solely in such Person's capacity as Administrator of the Issuer
Trust continued hereunder and not in such Person's individual capacity, or any
successor Administrator appointed as herein provided; with the initial
Administrators being Leonard A. Moreland, Mary Jo Rogers, and David B. Turner.

          "Affiliate" means with respect to any specified Person, any other
Person directly or indirectly controlling or controlled by or under direct or
indirect common control with such specified Person. For the purposes of this
definition, "control" means the power to direct the management and policies of
such Person, directly or indirectly, whether through the ownership of voting
securities, by contract or otherwise; and the terms "controlling" and
"controlled" have meanings correlative to the foregoing.

          "Applicable Procedures" mean, with respect to any transfer or
transaction involving a Global Capital Security or beneficial interest therein,
the rules and procedures of the Depositary for

                                       2

<PAGE>

such Capital Security, in each case to the extent applicable to such transaction
and as in effect from time to time.

          "Bank" has the meaning specified in the preamble to this Trust
Agreement.

          "Bankruptcy Event" means, with respect to any Person:

          (1) the entry of a decree or order by a court having jurisdiction in
the premises judging such Person a bankrupt or insolvent, or approving as
properly filed a petition seeking reorganization, arrangement, adjudication or
composition of or in respect of such Person under any applicable Federal or
state bankruptcy, insolvency, reorganization or other similar law, or appointing
a receiver, conservator, liquidator, assignee, trustee, sequestrator (or other
similar official) of such Person or of any substantial part of its property or
ordering the winding-up or liquidation of its affairs, and the continuance of
any such decree or order unstayed and in effect for a period of 60 consecutive
days; or

          (2) the institution by such Person of proceedings to be adjudicated a
bankrupt or insolvent, or the consent by it to the institution of bankruptcy or
insolvency proceedings against it, or the filing by it of a petition or answer
or consent seeking reorganization or relief under any applicable Federal or
state bankruptcy, insolvency, reorganization or other similar law, or the
consent by it to the filing of any such petition or to the appointment of a
receiver, conservator, liquidator, assignee, trustee, sequestrator (or similar
official) of such Person or of any substantial part of its property or the
making by it of an assignment for the benefit of creditors, or the admission by
it in writing of its inability to pay its debts generally as they become due and
its willingness to be adjudicated a bankrupt, or the taking of corporate action
by such Person in furtherance of any such action.

          "Bankruptcy Laws" has the meaning specified in Section 10.9.

          "Board of Directors" means the board of directors of the Depositor or
the Executive Committee of the board of directors of the Depositor (or any other
committee of the board of directors of the Depositor performing similar
functions) or a committee designated by the board of directors of the Depositor
(or any such committee), comprised of two or more members of the board of
directors of the Depositor or officers of the Depositor, or both.

          "Board Resolution" means a copy of a resolution certified by the
Secretary or an Assistant Secretary of the Depositor to have been duly adopted
by the Depositor's Board of Directors, or such committee of the Board of
Directors or officers of the Depositor to which authority to act on behalf of
the Board of Directors has been delegated, and to be in full force and effect on
the date of such certification, and delivered to the Issuer Trustees.

          "Business Day" means a day other than (a) a Saturday or Sunday, (b) a
day on which banking institutions in the City of New York, New York, the City of
Atlanta, Georgia, or the City of Wilmington, Delaware are authorized or required
by law or executive order to remain closed or (c) a day on which either the
Property Trustee's corporate trust office or the Indenture Trustee's corporate
trust office is closed for business.

                                       3

<PAGE>

          "Capital Securities Certificate" means a certificate evidencing
ownership of Capital Securities, substantially in the form attached as Exhibit
                                                                       -------
D, and shall, unless specified otherwise herein, include a Restricted Securities
-
Certificate, substantially in the form attached hereto as Exhibit B. The Capital
                                                          ---------
Securities Certificate shall be issued initially with a Restricted Capital
Securities Legend, which shall remain on such certificate until the Depositor
and the Issuer Trust receive an Opinion of Counsel that such legend can be
removed consistent with the Securities Act.

          "Capital Security" means a preferred undivided beneficial interest in
the assets of the Issuer Trust, having a Liquidation Amount of $50,000.00 or an
integral multiple in excess of such amount and having the rights provided
therefor in this Trust Agreement, including the right to receive Distributions
and a Liquidation Distribution as provided herein.

          "Capital Treatment Event" means, in respect of the Issuer Trust, the
receipt by the Property Trustee of an Opinion of Counsel, experienced in such
matters and who may be counsel to the Depositor, and determination by the
Depositor that, as a result of the occurrence of any amendment to, or change
(including any announced prospective change) in, the laws (or any rules or
regulations thereunder) of the United States or any political subdivision
thereof or therein, or as a result of any official or administrative
pronouncement or action (including any action taken in connection with a
regulatory examination or in connection with or as a result of any change in
regulatory policy) or judicial decision interpreting or applying such laws or
regulations, which amendment or change is effective or such pronouncement,
action or decision is announced on or after the date of the issuance of the
Capital Securities of the Issuer Trust, there is more than an insubstantial risk
that the Depositor will not be entitled to treat an amount equal to the
Liquidation Amount of such Capital Securities as "Tier 1 Capital" (or the then
equivalent thereof) for purposes of the risk-based capital adequacy guidelines
of the Board of Governors of the Federal Reserve System, as then in effect and
applicable to the Depositor.

          "Cede" means Cede & Co., as the nominee of the Depositary.

          "Certificate of Trust" has the meaning specified in the preamble to
this Trust Agreement.

          "Clearing Agency" means an organization registered as a "clearing
agency" pursuant to Section 17A of the Exchange Act. The Depositary shall be the
initial Clearing Agency.

          "Clearing Agency Participant" means a broker, dealer, bank, other
financial institution or other Person for whom from time to time a Clearing
Agency effects book-entry transfers and pledges of securities deposited with the
Clearing Agency.

          "Closing" and "Closing Date" have the respective meanings specified in
the Placement Agreement.

          "Code" means the Internal Revenue Code of 1986, as amended.

                                       4

<PAGE>

          "Commission" means the United States Securities and Exchange
Commission, or, if at any time after the execution of this instrument such
Commission is not existing and performing the duties now assigned to it under
the Trust Indenture Act, then the body performing such duties at such time.

          "Common Securities Certificate" means a certificate evidencing
ownership of Common Securities, substantially in the form attached as Exhibit C.
                                                                      ---------

          "Common Securities Purchase Agreement" means the Common Securities
Purchase Agreement dated as of February 1, 2002 between the Issuer Trust and the
Depositor, as the same may be amended from time to time.

          "Common Security" means an undivided beneficial interest in the assets
of the Issuer Trust, having a Liquidation Amount of $1,000.00 and integral
multiples in excess thereof and having the rights provided therefor in this
Trust Agreement, including the right to receive Distributions and a Liquidation
Distribution as provided herein.

          "Corporate Trust Office" means the principal office of the Property
Trustee located in the City of Wilmington, Delaware, which at the time of the
execution of this Trust Agreement is located at 1100 North Market Street,
Wilmington, Delaware 19890-0001, Attention: Corporate Trust Administration.

          "Debenture Event of Default" means an "Event of Default" as defined in
the Indenture.

          "Debenture Purchase Agreement" means the Junior Subordinated Debenture
Purchase Agreement dated as of February 1, 2002 between the Depositor and the
Issuer Trust, as the same may be amended from time to time.

          "Debenture Redemption Date" means, with respect to any Junior
Subordinated Debentures to be redeemed under the Indenture, the date fixed for
redemption of such Debentures under the Indenture.

          "Delaware Business Trust Act" means Chapter 38 of Title 12 of the
Delaware Code, 12 Del. C. Section 3801, et seq., as it may be amended from time
to time.

          "Delaware Trustee" means the corporation identified as the "Delaware
Trustee" in the preamble to this Trust Agreement solely in its capacity as
Delaware Trustee of the Issuer Trust and not in its individual capacity, or its
successor in interest in such capacity, or any successor trustee appointed as
herein provided.

          "Depositary" means The Depository Trust Company or any successor
thereto.

          "Depositor" has the meaning specified in the preamble to this Trust
Agreement.

          "Direct Action" has the meaning specified in Section 5.13(c).

                                       5

<PAGE>

          "Distribution Date" has the meaning specified in Section 4.1(a).

          "Distributions" means amounts payable in respect of the Trust
Securities as provided in Section 4.1.

          "Early Termination Event" has the meaning specified in Section 9.2.

          "Event of Default" means any one of the following events (whatever the
reason for such Event of Default and whether it shall be voluntary or
involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any
administrative or governmental body):

          (1) the occurrence of a Debenture Event of Default; or

          (2) default by the Issuer Trust in the payment of any Distribution
when it becomes due and payable, and continuation of such default for a period
of 30 days; or

          (3) default by the Issuer Trust in the payment of any Redemption Price
of any Trust Security when it becomes due and payable; or

          (4) default in the performance, or breach, in any material respect, of
any covenant or warranty of the Issuer Trustees in this Trust Agreement (other
than a covenant or warranty a default in the performance of which or the breach
of which is dealt with in clause (2) or (3) above) and continuation of such
default or breach for a period of 60 days after there has been given, by
registered or certified mail, to the Issuer Trustees and the Depositor by the
Holders of at least 25% in aggregate Liquidation Amount of the Outstanding
Capital Securities, a written notice specifying such default or breach and
requiring it to be remedied and stating that such notice is a "Notice of
Default" hereunder; or

          (5) the occurrence of any Bankruptcy Event with respect to the
Property Trustee or all or substantially all of its property if a successor
Property Trustee has not been appointed within a period of 90 days thereof.

          "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended, and any successor statute thereto, as amended from time to time.

          "Expiration Date" has the meaning specified in Section 9.1.

          "Global Capital Securities Certificate" means a Capital Securities
Certificate or Restricted Securities Certificate, as the case may be, evidencing
ownership of Capital Securities, the ownership and transfers of which shall be
made through book entries by a Clearing Agency as described in Section 5.4.

                                       6

<PAGE>

          "Global Capital Security" means those Capital Securities evidenced by
the Global Capital Securities Certificate.

          "Guarantee" means the Guarantee Agreement executed and delivered by
the Depositor and the Guarantee Trustee, contemporaneously with the execution
and delivery of this Trust Agreement, for the benefit of the Holders of the
Capital Securities, as amended from time to time.

          "Guarantee Trustee" means Wilmington Trust Company, solely in its
capacity as the trustee that holds the Guarantee for the benefit of the Holders
and not in its individual capacity, or its successor in interest in such
capacity, or any successor trustee appointed as herein provided.

          "Holder" means a Person in whose name a Trust Security or Trust
Securities is registered in the Securities Register; any such Person shall be
deemed to be a beneficial owner within the meaning of the Delaware Business
Trust Act.

          "Indemnified Person" has the meaning provided in Section 8.6.

          "Indenture" means the Junior Subordinated Indenture, dated as of
February 1, 2002, between the Depositor and the Indenture Trustee (as amended or
supplemented from time to time) relating to the issuance of the Junior
Subordinated Debentures.

          "Indenture Trustee" means Wilmington Trust Company, a Delaware banking
corporation and any successor.

          "Investment Company Act" means the Investment Company Act of 1940, as
amended.

          "Investment Company Event" means the receipt by the Issuer Trust of an
Opinion of Counsel experienced in such matters to the effect that, as a result
of the occurrence of a change in law or regulation or a written change
(including any announced prospective change) in interpretation or application of
law or regulation by any legislative body, court, governmental agency or
regulatory authority, there is more than an insubstantial risk that the Issuer
Trust is or will be considered an "investment company" that is required to be
registered under the Investment Company Act, which change or prospective change
becomes effective or would become effective, as the case may be, on or after the
date of the issuance of the Capital Securities.

          "Issuer Trust" means CCF Capital Trust I, a Delaware business trust
created under the Delaware Business Trust Act.

          "Issuer Trustees" has the meaning specified in the preamble to this
Trust Agreement.

          "Junior Subordinated Debentures" means the Depositor's Floating Rate
Junior Subordinated Deferrable Interest Debentures, due March 31, 2032, issued
pursuant to the Indenture.

                                       7

<PAGE>

          "Lien" means any lien, pledge, charge, encumbrance, mortgage, deed of
trust, adverse ownership interest, hypothecation, assignment, security interest
or preference, priority or other security agreement or preferential arrangement
of any kind or nature whatsoever.

          "Like Amount" means (a) with respect to a redemption of Trust
Securities, Trust Securities having a Liquidation Amount equal to that portion
of the principal amount of Junior Subordinated Debentures to be
contemporaneously redeemed in accordance with the Indenture, allocated to the
Common Securities and to the Capital Securities pro rata based upon the relative
Liquidation Amounts of such classes and (b) with respect to a distribution of
Junior Subordinated Debentures to Holders of Trust Securities in connection with
a dissolution or liquidation of the Issuer Trust, Junior Subordinated Debentures
having a principal amount equal to the Liquidation Amount of the Trust
Securities of the Holder to whom such Junior Subordinated Debentures are
distributed.

          "Liquidation Amount" means the stated amount of $50,000.00 per Capital
Security and $1,000.00 per Common Security.

          "Liquidation Date" means the date on which Junior Subordinated
Debentures are to be distributed to Holders of Trust Securities in connection
with a dissolution and liquidation of the Issuer Trust pursuant to Section 9.4.

          "Liquidation Distribution" has the meaning specified in Section
9.4(d).

          "Majority in Liquidation Amount of the Capital Securities" or
"Majority in Liquidation Amount of the Common Securities" means, except as
provided by the Trust Indenture Act, Capital Securities or Common Securities, as
the case may be, representing more than 50% of the aggregate Liquidation Amount
of all then Outstanding Capital Securities or Common Securities, as the case may
be.

          "Officers' Certificate" means a certificate signed by the Chairman of
the Board, Vice Chairman of the Board, Chief Executive Officer, President or an
Executive Vice President, a Senior Vice President or Vice President, and by the
Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary, of
the Depositor, and delivered to the party provided herein. Any Officers'
Certificate delivered with respect to compliance with a condition or covenant
provided for in this Trust Agreement shall include:

          (1) a statement by each officer signing the Officers' Certificate that
such officer has read the covenant or condition and the definitions relating
thereto;

          (2) a brief statement of the nature and scope of the examination or
investigation undertaken by such officer in rendering the Officers' Certificate;

          (3) a statement that such officer has made such examination or
investigation as, in such officer's opinion, is necessary to enable such officer
to express an informed opinion as to whether or not such covenant or condition
has been complied with; and

                                       8

<PAGE>

          (4) a statement as to whether, in the opinion of each such officer,
such condition or covenant has been complied with.

          "Opinion of Counsel" means a written opinion of counsel, who may be
counsel for or an employee of the Depositor or any Affiliate of the Depositor.

          "Original Trust Agreement" has the meaning specified in the preamble
to this Trust Agreement.

          "Outstanding," with respect to Trust Securities, means, as of the date
of determination, all Trust Securities theretofore executed and delivered under
this Trust Agreement, except:

          (1) Trust Securities theretofore canceled by the Property Trustee or
delivered to the Property Trustee for cancellation;

          (2) Trust Securities for whose payment or redemption cash in the
necessary amount has been theretofore deposited with the Property Trustee or any
Paying Agent for the Holders of such Capital Securities, provided that if such
Trust Securities are to be redeemed, notice of such redemption has been duly
given pursuant to this Trust Agreement; and

          (3) Trust Securities that have been paid or for which other Trust
Securities which have been executed and delivered in exchange therefor or in
lieu thereof pursuant to Sections 5.4, 5.5 and 5.6; provided, however, that in
determining whether the Holders of the requisite Liquidation Amount of the
Outstanding Capital Securities have given any request, demand, authorization,
direction, notice, consent or waiver hereunder, Capital Securities owned by the
Depositor, any Issuer Trustee, any Administrator or any Affiliate of the
Depositor, shall be disregarded and deemed not to be Outstanding, except that
(a) in determining whether any Issuer Trustee or any Administrator shall be
protected in relying upon any such request, demand, authorization, direction,
notice, consent or waiver, only Capital Securities that such Issuer Trustee or
such Administrator, as the case may be, knows to be so owned shall be so
disregarded and (b) the foregoing shall not apply at any time when all of the
Outstanding Capital Securities are owned by the Depositor, one or more of the
Issuer Trustees, one or more of the Administrators and/or any such Affiliate.
Capital Securities so owned which have been pledged in good faith may be
regarded as Outstanding if the pledgee establishes to the satisfaction of the
Administrators the pledgee's right so to act with respect to such Capital
Securities and that the pledgee is not the Depositor or any Affiliate of the
Depositor.

          "Owner" means each Person who is the beneficial owner of Global
Capital Securities as reflected in the records of the Clearing Agency or, if a
Clearing Agency Participant is not the Owner, then as reflected in the records
of a Person maintaining an account with such Clearing Agency (directly or
indirectly), in accordance with the rules of such Clearing Agency.

          "Paying Agent" means any paying agent or co-paying agent appointed
pursuant to Section 5.10 and shall initially be the Property Trustee.

                                       9

<PAGE>

          "Payment Account" means a segregated non-interest-bearing corporate
trust account maintained with the Property Trustee in its trust department for
the benefit of the Holders in which all amounts paid in respect of the Junior
Subordinated Debentures will be held and from which the Property Trustee,
through the Paying Agent, shall make payments to the Holders in accordance with
Sections 4.1, 4.2 and 9.4.

          "Person" means a legal person, including any individual, corporation,
estate, partnership, joint venture, association, joint stock company, company,
limited liability company, trust, unincorporated organization or government or
any agency or political subdivision thereof, or any other entity of whatever
nature.

          "Placement Agent" means The Bankers Bank, a Georgia banking
corporation.

          "Placement Agreement" means the Placement Agent Agreement among the
Depositor, the Issuer Trust and the Placement Agent, dated as of January 18,
2002.

          "Property Trustee" means the Person identified as the "Property
Trustee" in the preamble to this Trust Agreement solely in its capacity as
Property Trustee of the Issuer Trust and not in its individual capacity, or its
successor in interest in such capacity, or any successor property trustee
appointed as herein provided.

          "Purchase Agreement" means, collectively, all purchase agreements
executed by or on behalf of the Depositor, the Issuer Trust, and the Owners.

          "Redemption Date" means, with respect to any Trust Security to be
redeemed, the date fixed for such redemption by or pursuant to this Trust
Agreement; provided that each Debenture Redemption Date and the stated maturity
of the Junior Subordinated Debentures shall be a Redemption Date for a Like
Amount of Trust Securities, including but not limited to any date of redemption
pursuant to the occurrence of any Special Event.

          "Redemption Price" means a price equal to the Liquidation Amount,
together with accumulated Distributions to, but excluding, the date fixed for
redemption.

          "Relevant Trustee" has the meaning specified in Section 8.10.

          "Responsible Officer" when used with respect to the Property Trustee
means any officer assigned to the Corporate Trust Office, including any managing
director, vice president, principal, assistant vice president, assistant
treasurer, assistant secretary or any other officer of the Property Trustee
customarily performing functions similar to those performed by any of the above
designated officers and having direct responsibility for the administration of
the Indenture, and also, with respect to a particular matter, any other officer
to whom such matter is referred because of such officer's knowledge of and
familiarity with the particular subject.

                                       10

<PAGE>

          "Restricted Capital Securities" means all Capital Securities,
including those represented by a Capital Securities Certificate which is
required pursuant to Section 5.5(c) to bear a Restricted Capital Securities
Legend. Such term includes the Global Capital Securities Certificate.

          "Restricted Capital Securities Legend" means a legend substantially in
the form of the legend required in the form of a Capital Securities Certificate
set forth in Exhibit D to be placed upon a Restricted Capital Security.
             ---------

          "Restricted Securities Certificate" means a certificate substantially
in the form set forth in Exhibit B.
                         ---------

          "Securities Act" means the Securities Act of 1933, as amended, and any
successor statute thereto, in each case as amended from time to time.

          "Senior Indebtedness" has the meaning specified in the Indenture.

          "Securities Register" and "Securities Registrar" have the respective
meanings specified in Section 5.5.

          "Special Event" means any Tax Event, Capital Treatment Event or
Investment Company Event.

          "Successor Capital Securities Certificate" of any particular Capital
Securities Certificate means every Capital Securities Certificate issued after,
and evidencing all or a portion of the same beneficial interest in the Issuer
Trust as that evidenced by, such particular Capital Securities Certificate; and,
for the purposes of this definition, any Capital Securities Certificate executed
and delivered under Section 5.6 in exchange for or in lieu of a mutilated,
destroyed, lost or stolen Capital Securities Certificate shall be deemed to
evidence the same beneficial interest in the Issuer Trust as the mutilated,
destroyed, lost or stolen Capital Securities Certificate.

          "Successor Capital Securities" has the meaning specified in Section
9.5.

          "Tax Event" means the receipt by the Issuer Trust of an Opinion of
Counsel experienced in such matters to the effect that, as a result of any
amendment to, or change (including any announced prospective change) in, the
laws (or any regulations thereunder) of the United States or any political
subdivision or taxing authority thereof or therein, or as a result of any
official or administrative pronouncement or action or judicial decision
interpreting or applying such laws or regulations, which amendment or change is
effective or which pronouncement, action or decision is announced on or after
the date of issuance of the Capital Securities (including, without limitation,
any of the foregoing arising with respect to, or resulting from, any proceeding
or other action commencing on or before such date), there is more than an
insubstantial risk that (i) the Issuer Trust is, or will be within 90 days of
the delivery of such Opinion of Counsel, subject to United States federal income
tax with respect to income received or accrued on the Junior Subordinated
Debentures, (ii) interest payable by the Depositor on the Junior Subordinated
Debentures is not, or within 90 days of the delivery of such Opinion of Counsel
will not be, deductible by the Depositor, in

                                       11

<PAGE>

whole or in part, for United States federal income tax purposes, or (iii) the
Issuer Trust is, or will be within 90 days of the delivery of such Opinion of
Counsel, subject to more than a de minimis amount of other taxes, duties or
other governmental charges.

          "Trust Agreement" means this Amended and Restated Trust Agreement, as
the same may be modified, amended or supplemented in accordance with the
applicable provisions hereof, including (i) all exhibits hereto, and (ii) for
all purposes of this Amended and Restated Trust Agreement any such modification,
amendment or supplement, the provisions of the Trust Indenture Act that are
deemed to be a part of and govern this Amended and Restated Trust Agreement and
any modification, amendment or supplement, respectively.

          "Trust Indenture Act" means the Trust Indenture Act of 1939 or any
successor statute, in each case as amended from time to time.

          "Trust Property" means (a) the Junior Subordinated Debentures, (b) any
cash on deposit in, or owing to, the Payment Account, (c) all proceeds and
rights in respect of the foregoing and (d) any other property and assets for the
time being held or deemed to be held by the Property Trustee pursuant to the
trusts of this Trust Agreement.

          "Trust Securities Certificate" means any one of the Common Securities
Certificates or the Capital Securities Certificates.

          "Trust Security" means any one of the Common Securities or the Capital
Securities.

                                   ARTICLE II

                        CONTINUATION OF THE ISSUER TRUST

          SECTION 2.1. Name.

          The Issuer Trust continued hereby shall be known as "CCF Capital Trust
I", as such name may be modified from time to time by the Administrators
following written notice to the Holders of Trust Securities and the Issuer
Trustees, in which name the Administrators and the Issuer Trustees may engage in
the transactions contemplated hereby, make and execute contracts and other
instruments on behalf of the Issuer Trust and sue and be sued.

          SECTION 2.2. Office of the Delaware Trustee; Principal Place of
Business.

          The address of the Delaware Trustee in the State of Delaware is
Wilmington Trust Company, 1100 North Market Street, Wilmington, Delaware
19890-0001, Wilmington, Delaware 19805-1266, Attention: Corporate Trust
Administration, or such other address in the State of Delaware as the Delaware
Trustee may designate by written notice to the Holders and the Depositor. The
principal executive office of the Issuer Trust is in care of CCF Holding
Company, 101 North Main Street, Jonesboro, Georgia 30236-3294, Attention:
Leonard A. Moreland.

                                       12

<PAGE>

          SECTION 2.3. Initial Contribution of Trust Property; Organizational
Expenses.

          The Property Trustee acknowledges receipt in trust from the Depositor
in connection with the Original Trust Agreement of the sum of $10.00, which
constitutes the initial Trust Property. The Depositor shall pay all
organizational expenses of the Issuer Trust as they arise or shall, upon request
of any Issuer Trustee, promptly reimburse such Issuer Trustee for any such
expenses paid by such Issuer Trustee. The Depositor shall make no claim upon the
Trust Property for the payment of such expenses.

          SECTION 2.4. Issuance of the Restricted Capital Securities.

          The Depositor, the Issuer Trust and the Placement Agent executed and
delivered the Placement Agreement pursuant to the Original Trust Agreement.
Contemporaneously with the execution and delivery of this Trust Agreement, an
Administrator, on behalf of the Issuer Trust, shall manually execute in
accordance with Section 5.3 and the Property Trustee shall authenticate in
accordance with Section 5.3 and deliver to the Clearing Agency or its custodian,
a Global Capital Securities Certificate, registered in the name of Cede & Co.,
in an aggregate amount of 80 Capital Securities having an aggregate Liquidation
Amount of $4,000,000.00, against receipt of the aggregate purchase price of such
Capital Securities of $4,000,000.00, by the Property Trustee.

          SECTION 2.5. Issuance of the Common Securities; Subscription and
Purchase of Junior Subordinated Debentures.

          Contemporaneously with the execution and delivery of this Trust
Agreement, an Administrator, on behalf of the Issuer Trust, shall execute in
accordance with Section 5.3 and the Property Trustee shall authenticate and
shall deliver to the Depositor, Common Securities Certificates, registered in
the name of the Depositor, having an aggregate Liquidation Amount of $125,000.00
against receipt of the aggregate purchase price of such Common Securities of
$125,000.00 by the Property Trustee. Contemporaneously therewith, an
Administrator, on behalf of the Issuer Trust, shall subscribe for and purchase
from the Depositor the Junior Subordinated Debentures, registered in the name of
the Issuer Trust and having an aggregate principal amount equal to
$4,125,000.00, and, in satisfaction of the purchase price for such Junior
Subordinated Debentures, the Property Trustee, on behalf of the Issuer Trust,
shall deliver to the Depositor the sum of $4,125,000.00 (being the sum of the
amounts delivered to the Property Trustee pursuant to (i) the second sentence of
Section 2.4, and (ii) the first sentence of this Section 2.5) and receive on
behalf of the Issuer Trust the Junior Subordinated Debentures.

          SECTION 2.6. Declaration of Trust.

          The exclusive purposes and functions of the Issuer Trust are to (a)
issue and sell Trust Securities and use the proceeds from such sale to acquire
the Junior Subordinated Debentures, and (b) engage in only those other
activities necessary, convenient or incidental thereto. The Depositor hereby
appoints the Issuer Trustees as trustees of the Issuer Trust, to have all the
rights, powers and

                                       13

<PAGE>

duties to the extent set forth herein, and the Issuer Trustees hereby accept
such appointment. The Property Trustee hereby declares that it will hold the
Trust Property in trust upon and subject to the conditions set forth herein for
the benefit of the Issuer Trust and the Holders. The Depositor hereby appoints
the Administrators, with such Administrators having all rights, powers and
duties set forth herein with respect to accomplishing the purposes of the Issuer
Trust, and the Administrators hereby accept such appointment; provided, however,
that it is the intent of the parties hereto that such Administrators shall not
be trustees or, to the fullest extent permitted by law, fiduciaries with respect
to the Issuer Trust and this Trust Agreement shall be construed in a manner
consistent with such intent. The Property Trustee shall have the right and power
(but shall not be obligated) to perform those duties assigned to the
Administrators. The Delaware Trustee, in such capacity, shall not be entitled to
exercise any powers, nor shall the Delaware Trustee, in such capacity, have any
of the duties and responsibilities, of the Property Trustee or the
Administrators set forth herein. The Delaware Trustee, in such capacity, shall
be one of the trustees of the Issuer Trust for the sole and limited purpose of
fulfilling the requirements of Section 3807 of the Delaware Business Trust Act
and for taking such actions as are required to be taken by a Delaware trustee
under the Delaware Business Trust Act.

          SECTION 2.7. Authorization to Enter into Certain Transactions.

          (a) The Issuer Trustees and the Administrators shall conduct the
affairs of the Issuer Trust in accordance with the terms of this Trust
Agreement. Subject to the limitations set forth in paragraph (b) of this Section
and in accordance with the following provisions (i), (ii) and (iii), the Issuer
Trustees and the Administrators shall act as follows:

               (i) each Administrator, acting jointly or singly, shall:

                    (A) comply with the Placement Agreement regarding the
          issuance and sale of the Trust Securities;

                    (B) assist in compliance with the Securities Act, applicable
          state securities or blue sky laws, and the Trust Indenture Act;

                    (C) assist in the listing of the Capital Securities upon
          such securities exchange or exchanges, if any, as shall be determined
          by the Depositor, with the registration of the Capital Securities
          under the Exchange Act, if required or if requested by the Depositor,
          and the preparation and filing of all periodic and other reports and
          other documents pursuant to the foregoing;

                    (D) execute the Trust Securities on behalf of the Issuer
          Trust in accordance with this Trust Agreement;

                    (E) execute and deliver an application for a taxpayer
          identification number for the Issuer Trust;

                                       14

<PAGE>

                    (F) assist in the filing with the Commission, at such time
          as determined by the Depositor, any registration statement, if any,
          under the Securities Act relating to the Trust Securities, including
          any amendments thereto;

                    (G) unless otherwise required by the Trust Indenture Act,
          execute on behalf of the Issuer Trust any documents that the
          Administrators have the power to execute pursuant to this Trust
          Agreement, including without limitation, the Debenture Purchase
          Agreement and the Common Securities Purchase Agreement; and

                    (H) take any action incidental to the foregoing as necessary
          or advisable to give effect to the terms of this Trust Agreement.

               (ii) The Property Trustee shall have the power and authority to
     act on behalf of the Issuer Trust with respect to the following matters:

                    (A) the establishment of the Payment Account;

                    (B) the receipt of the Junior Subordinated Debentures;

                    (C) the receipt and collection of interest, principal and
          any other payments made in respect of the Junior Subordinated
          Debentures in the Payment Account;

                    (D) the distribution of amounts owed to the Holders in
          respect of the Trust Securities;

                    (E) the exercise of all of the rights, powers and privileges
          of a holder of the Junior Subordinated Debentures;

                    (F) the sending of notices of default and other information
          regarding the Trust Securities and the Junior Subordinated Debentures
          to the Holders thereof in accordance with this Trust Agreement;

                    (G) the distribution of the Trust Property in accordance
          with the terms of this Trust Agreement;

                    (H) to the extent provided in this Trust Agreement, the
          winding-up of the affairs of and liquidation of the Issuer Trust and
          the preparation, execution and filing of the certificate of
          cancellation with the Secretary of State of the State of Delaware; and

                    (I) after an Event of Default (other than under paragraph
          (2), (3), (4), or (5) of the definition of such term if such Event of
          Default is by or with respect to the Property Trustee), comply with
          the provisions of this Trust Agreement and take any action to give
          effect to the terms of this Trust Agreement and protect and

                                       15

<PAGE>

          conserve the Trust Property for the benefit of the Holders (without
          consideration of the effect of any such action on any particular
          Holder);

     provided, however, that nothing in this Section 2.7(a)(ii) shall require
     the Property Trustee to take any action that is not otherwise required in
     this Trust Agreement.

               (iii) The Administrators shall comply with the listing
     requirements of the Capital Securities upon such securities exchange or
     exchanges, if any, as shall be determined by the Depositor, the
     registration of the Capital Securities under the Exchange Act, if required
     or if requested by the Depositor, and the preparation and filing of all
     periodic and other reports and other documents pursuant to the foregoing.

          (b) So long as this Trust Agreement remains in effect, the Issuer
Trust (or the Issuer Trustees or Administrators acting on behalf of the Issuer
Trust) shall not undertake any business, activity or transaction except as
expressly provided herein or contemplated hereby. In particular, neither the
Issuer Trustees nor the Administrators shall (i) acquire any investments or
engage in any activities not authorized by this Trust Agreement, (ii) sell,
assign, transfer, exchange, mortgage, pledge, set-off or otherwise dispose of
any of the Trust Property or interests therein, including to Holders, except as
expressly provided herein, (iii) take any action that would cause the Issuer
Trust to become taxable other than as a grantor trust for United States Federal
income tax purposes, (iv) incur any indebtedness for borrowed money or issue any
other debt, or (v) take or consent to any action that would result in the
placement of a Lien on any of the Trust Property, except as expressly provided
herein. The Property Trustee shall defend all claims and demands of all Persons
at any time claiming any Lien on any of the Trust Property adverse to the
interest of the Issuer Trust or the Holders in their capacity as Holders.

          (c) In connection with the issue and sale of the Capital Securities,
the Depositor shall have the right and responsibility to assist the Issuer Trust
with respect to, or effect on behalf of the Issuer Trust, the following (and any
actions taken by the Depositor in furtherance of the following prior to the date
of this Trust Agreement are hereby ratified and confirmed in all respects):

               (i) the preparation, execution and filing with the Commission of
     a registration statement on the appropriate form under the Securities Act
     or the preparation of offering documents in reliance on one or more
     exemptions from registration under the Securities Act with respect to the
     Capital Securities;

               (ii) the determination of the states in which to take appropriate
     action to qualify or register for sale or necessary to obtain any exemption
     from such qualification or registration of all or part of the Capital
     Securities and the determination of any and all such acts, other than
     actions that must be taken by or on behalf of the Issuer Trust, and the
     advice to the Issuer Trustees of actions they must take on behalf of the
     Issuer Trust, and the preparation for execution and filing of any documents
     to be executed and filed by the Issuer Trust or on behalf of the Issuer
     Trust, as the Depositor deems necessary or advisable in order to comply
     with the applicable laws of any such States in connection with the offer
     and sale of the Capital Securities;

                                       16

<PAGE>

               (iii) the negotiation of the terms of, and the execution and
     delivery of, the Placement Agreement and the Purchase Agreement providing
     for the sale of the Capital Securities; and

               (iv) the taking of any other actions necessary or desirable to
     carry out any of the foregoing activities.

          (d) Notwithstanding anything herein to the contrary, the
Administrators and the Property Trustee are authorized and directed to conduct
the affairs of the Issuer Trust and to operate the Issuer Trust so that the
Issuer Trust will not be deemed to be an "investment company" required to be
registered under the Investment Company Act, and will not be taxable other than
as a grantor trust for United States Federal income tax purposes and so that the
Junior Subordinated Debentures will be treated as indebtedness of the Depositor
for United States Federal income tax purposes. In this connection, the Property
Trustee and the Holders of Common Securities are authorized to take any action,
not inconsistent with applicable law, the Certificate of Trust or this Trust
Agreement, that the Property Trustee and Holders of Common Securities determine
in their discretion to be necessary or desirable for such purposes, as long as
such action does not adversely affect in any material respect the interests of
the Holders of the Outstanding Capital Securities. In no event shall the
Administrators or the Issuer Trustees be liable to the Issuer Trust or the
Holders for any failure to comply with this Section that results from a change
in law or regulations or in the interpretation thereof.

          SECTION 2.8. Assets of Trust.

          The assets of the Issuer Trust shall consist solely of the Trust
Property.

          SECTION 2.9. Title to Trust Property.

          Legal title to all Trust Property shall be vested at all times in the
Property Trustee (in its capacity as such) and shall be held and administered by
the Property Trustee for the benefit of the Issuer Trust and the Holders in
accordance with this Trust Agreement.

                                   ARTICLE III

                                 PAYMENT ACCOUNT

          SECTION 3.1. Payment Account.

          (a) At or prior to the Closing Date, the Property Trustee shall
establish the Payment Account. The Property Trustee and its agents shall have
exclusive control and sole right of withdrawal with respect to the Payment
Account for the purpose of making deposits in and withdrawals from the Payment
Account in accordance with this Trust Agreement. All monies and other property
deposited or held from time to time in the Payment Account shall be held by the

                                       17

<PAGE>

Property Trustee in the Payment Account for the exclusive benefit of the Holders
and for distribution as herein provided, including (and subject to) any priority
of payments provided for herein.

          (b) The Property Trustee shall deposit in the Payment Account,
promptly upon receipt, all payments of principal of or interest on, and any
other payments or proceeds with respect to, the Junior Subordinated Debentures.
Amounts held in the Payment Account shall not be invested by the Property
Trustee pending distribution thereof.

                                   ARTICLE IV

                            DISTRIBUTIONS; REDEMPTION

          SECTION 4.1. Distributions.

          (a) The Trust Securities represent undivided beneficial interests in
the Trust Property, and Distributions (including of Additional Amounts) will be
made on the Trust Securities at the rate and on the dates that payments of
interest (including of Additional Interest, as defined in the Indenture) are
made on the Junior Subordinated Debentures. Accordingly:

               (i) Distributions on the Trust Securities shall be cumulative and
     will accumulate whether or not there are funds of the Issuer Trust
     available for the payment of Distributions. Distributions shall accumulate
     from the date of issue of the Trust Securities, and, except in the event
     (and to the extent) that the Depositor exercises its right to defer the
     payment of interest on the Junior Subordinated Debentures pursuant to the
     Indenture, shall be payable quarterly in arrears on March 31, June 30,
     September 30 and December 31 of each year, commencing on March 31, 2002. If
     any date on which a Distribution is otherwise payable on the Trust
     Securities is not a Business Day, then the payment of such Distribution
     shall be made on the next succeeding day that is a Business Day (without
     any additional Distributions or other payment in respect of any such
     delay), except that, if such Business Day is in the next succeeding
     calendar year, such payment shall be made on the immediately preceding
     Business Day, in each case with the same force and effect as if made on the
     date on which such payment was originally payable (each date on which
     distributions are payable in accordance with this Section 4.1(a), a
     "Distribution Date").
      -----------------

               (ii) The Trust Securities shall be entitled to Distributions
     payable at a floating rate, reset quarterly on each Distribution Date for
     the next succeeding quarter, equal to the prime rate of interest so
     published in the "Money Rates" table in the Eastern Edition of The Wall
     Street Journal as on the last day of each of March, June, September and
     December, as applicable, plus 75 basis points on the liquidation amount of
     each Trust Security ("Floating Rate"). If more than one rate is so
                           -------------
     indicated in The Wall Street Journal, the prime rate shall equal the
     highest rate provided therein. The amount of Distributions payable for any
     full quarterly period shall be computed on the basis of a 360-day year of
     twelve 30-day months. The amount of Distributions for any period less than
     a full quarter shall be computed on the basis of a 360-day year and the
     actual number of days elapsed during that period. The

                                       18

<PAGE>

     amount of Distributions payable for any period shall include any Additional
     Amounts in respect of such period.

               (iii) So long as no Debenture Event of Default has occurred and
     is continuing, the Depositor has the right under the Indenture to defer the
     payment of interest on the Junior Subordinated Debentures at any time and
     from time to time for a period not exceeding 20 consecutive quarterly
     periods (an "Extension Period"), provided that no Extension Period may
                  ----------------
     extend beyond March 31, 2032 or end on a date that is not a scheduled
     interest payment date. As a consequence of any such deferral, quarterly
     Distributions on the Trust Securities by the Issuer Trust will also be
     deferred and the amount of Distributions to which Holders of the Trust
     Securities are entitled will accumulate additional Distributions thereon at
     the Floating Rate, compounded quarterly, to the extent permitted by
     applicable law, from the relevant payment date for such Distributions,
     computed in the same manner as set forth for Distribution in subsection
     4.1(a)(ii) immediately above. The term "Distributions" as used in Section
     4.1 shall include any such additional Distributions provided pursuant to
     this Section 4.1(a)(iii).

               (iv) Distributions on the Trust Securities shall be made by the
     Property Trustee from the Payment Account and shall be payable on each
     Distribution Date only to the extent that the Issuer Trust has funds then
     on hand and available in the Payment Account for the payment of such
     Distributions.

          (b) Distributions on the Trust Securities with respect to a
Distribution Date shall be payable to the Holders thereof as they appear on the
Securities Register for the Trust Securities at the close of business on the
relevant record date, which shall be at the close of business on the fifteenth
day of the month in which the relevant Distribution Date occurs (or if such date
is not a Business Day, the immediately preceding Business Day).

          SECTION 4.2. Redemption.

          (a) On each Debenture Redemption Date and on the stated maturity of
the Junior Subordinated Debentures, the Issuer Trust will be required to redeem
a Like Amount of Trust Securities at the Redemption Price.

          (b) Notice of redemption shall be given by the Property Trustee by
first-class mail, postage prepaid, mailed not less than 30 nor more than 60 days
prior to the Redemption Date to each Holder of Trust Securities to be redeemed,
at such Holder's address appearing in the Security Register. All notices of
redemption shall state:

               (i) the Redemption Date;

               (ii) the Redemption Price, or if the Redemption Price cannot be
     calculated prior to the time the notice is required to be sent, the
     estimate of the Redemption Price provided pursuant to the Indenture
     together with a statement that it is an estimate and that the actual
     Redemption Price will be calculated on the third Business Day prior to the
     Redemption

                                       19

<PAGE>

     Date (and if an estimate is provided, a further notice shall be sent of the
     actual Redemption Price on the date, or as soon as practicable thereafter,
     that notice of such actual Redemption Price is received pursuant to the
     Indenture);

               (iii) the CUSIP number or CUSIP numbers of the Capital Securities
     affected;

               (iv) if less than all the Outstanding Trust Securities are to be
     redeemed, the identification and the total Liquidation Amount of the
     particular Trust Securities to be redeemed;

               (v) that on the Redemption Date the Redemption Price will become
     due and payable upon each such Trust Security to be redeemed and that
     Distributions thereon will cease to accumulate on and after said date,
     except as provided in Section 4.2(d) below; and

               (vi) the place or places where Trust Securities are to be
     surrendered for the payment of the Redemption Price.

          The Issuer Trust in issuing the Trust Securities may use "CUSIP" or
"private placement" numbers (if then generally in use), and, if so, the Property
Trustee shall indicate the "CUSIP" or "private placement" numbers of the Trust
Securities in notices of redemption and related materials as a convenience to
Holders; provided, that any such notice may state that no representation is made
as to the correctness of such numbers either as printed on the Trust Securities
or as contained in any notice of redemption and related material.

          (c) The Trust Securities redeemed on each Redemption Date shall be
redeemed at the Redemption Price with the applicable proceeds from the
contemporaneous redemption of Junior Subordinated Debentures. Redemptions of the
Trust Securities shall be made and the Redemption Price shall be payable on each
Redemption Date only to the extent that the Issuer Trust has funds then on hand
and available in the Payment Account for the payment of such Redemption Price.

          (d) If the Issuer Trust gives a notice of redemption in respect of any
Capital Securities, then, by 12:00 noon, Eastern Time, on the Redemption Date,
subject to Section 4.2(c), the Property Trustee will, with respect to Capital
Securities held in global form, irrevocably deposit with the Clearing Agency for
such Capital Securities, to the extent available therefor, funds sufficient to
pay the applicable Redemption Price and will give such Clearing Agency
irrevocable instructions and authority to pay the Redemption Price to the
Holders of the Capital Securities. With respect to Capital Securities that are
not held in global form, if any, the Property Trustee, subject to Section
4.2(c), will irrevocably deposit with the Paying Agent, to the extent available
therefor, funds sufficient to pay the applicable Redemption Price and will give
the Paying Agent irrevocable instructions and authority to pay the Redemption
Price to the Holders of the Capital Securities upon surrender of their Capital
Securities Certificates or Restricted Securities Certificates, as applicable.
Notwithstanding the foregoing, Distributions payable on or prior to the
Redemption Date for any Trust Securities called for redemption shall be payable
to the Holders of such Trust Securities as they appear on the Securities
Register for the Trust Securities on the relevant record dates for the related
Distribution

                                       20

<PAGE>

Dates. If notice of redemption shall have been given and funds deposited as
required, then, upon the date of such deposit, all rights of Holders holding
Trust Securities so called for redemption will cease, except the right of such
Holders to receive the Redemption Price and any Distribution payable in respect
of the Trust Securities on or prior to the Redemption Date, but without
interest, and such Trust Securities will cease to be Outstanding. In the event
that any date on which any applicable Redemption Price is payable is not a
Business Day, then payment of the applicable Redemption Price payable on such
date will be made on the next succeeding day that is a Business Day (and without
any interest or other payment in respect of any such delay), except that, if
such Business Day falls in the next calendar year, such payment will be made on
the immediately preceding Business Day, in each case, with the same force and
effect as if made on such date. In the event that payment of the Redemption
Price in respect of any Trust Securities called for redemption is improperly
withheld or refused and not paid either by the Issuer Trust or by the Depositor
pursuant to the Guarantee, Distributions on such Trust Securities will continue
to accumulate, as set forth in Section 4.1 and in accordance with the continued
accrual of interest on the Junior Subordinated Debentures, from the Redemption
Date originally established by the Issuer Trust for such Trust Securities to the
date such applicable Redemption Price is actually paid, in which case the actual
payment date will be the date fixed for redemption for purposes of calculating
the applicable Redemption Price.

          (e) Subject to Section 4.3(a), if less than all the Outstanding Trust
Securities are to be redeemed on a Redemption Date, then the aggregate
Liquidation Amount of such Trust Securities to be redeemed shall be allocated
pro rata to the Common Securities and the Capital Securities based on the
relative aggregate Liquidation Amounts of such classes. The particular Capital
Securities to be redeemed shall be selected on a pro rata basis based on their
respective Liquidation Amounts not more than 60 days prior to the Redemption
Date by the Property Trustee from the Outstanding Capital Securities not
previously called for redemption, or if the Capital Securities are then held in
the form of a Global Preferred Security in accordance with the customary
procedures for the Clearing Agency. The Property Trustee shall promptly notify
the Securities Registrar in writing of the aggregate Liquidation Amount of
Capital Securities to be redeemed and the particular Capital Securities selected
for redemption. For all purposes of this Trust Agreement, unless the context
otherwise requires, all provisions relating to the redemption of Capital
Securities shall relate, in the case of any Capital Securities redeemed, to the
portion of the aggregate Liquidation Amount of Capital Securities that has been
or is to be redeemed.

          SECTION 4.3. Subordination of Common Securities.

          (a) Payment of Distributions (including Additional Amounts, if
applicable) on the Redemption Price of, and the Liquidation Distribution in
respect of, the Trust Securities, as applicable, shall be made, as set forth in
Section 4.2(e), pro rata among the Common Securities and the Capital Securities
based on the Liquidation Amount of such Trust Securities; provided, however,
that if on any Distribution Date or Redemption Date any Event of Default
resulting from a Debenture Event of Default in Sections 5.1(1) or 5.1(2) of the
Indenture shall have occurred and be continuing, no payment of any Distribution
(including any Additional Amounts) on, Redemption Price of, or Liquidation
Distribution in respect of, any Common Security, and no other payment on account
of the redemption, liquidation or other acquisition of Common Securities, shall
be made, unless payment in full in cash of all accumulated and unpaid
Distributions (including any Additional Amounts) on all

                                       21

<PAGE>

Outstanding Capital Securities for all Distribution periods terminating on or
prior thereto, or, in the case of payment of the Redemption Price, the full
amount of such Redemption Price on all Outstanding Capital Securities then
called for redemption, or in the case of payment of the Liquidation
Distribution, the full amount of such Liquidation Distribution on all
Outstanding Capital Securities, shall have been made or provided for, and all
funds immediately available to the Property Trustee shall first be applied to
the payment in full in cash of all Distributions (including any Additional
Amounts) on, or the Redemption Price of, or Liquidation Distribution in respect
of, Capital Securities then due and payable. The existence of an Event of
Default does not entitle the Holders of Capital Securities to accelerate the
maturity thereof.

          (b) In the case of the occurrence of any Event of Default resulting
from any Debenture Event of Default, the Holder of the Common Securities shall
be deemed to have waived any right to act with respect to any such Event of
Default under this Trust Agreement until the effects of all such Events of
Default with respect to the Capital Securities have been cured, waived or
otherwise eliminated. Until all such Events of Default under this Trust
Agreement with respect to the Capital Securities have been so cured, waived or
otherwise eliminated, to the fullest extent permitted by applicable law, the
Property Trustee shall act solely on behalf of the Holders of the Capital
Securities and not on behalf of the Holder of the Common Securities, and only
the Holders of the Capital Securities will have the right to direct the Property
Trustee to act on their behalf.

          SECTION 4.4. Payment Procedures.

          Payments of Distributions (including any Additional Amounts) in
respect of the Capital Securities shall be made by check mailed to the address
of the Person entitled thereto as such address shall appear on the Securities
Register or, if the Capital Securities are held by a Clearing Agency, such
Distributions shall be made to the Clearing Agency in immediately available
funds, which will credit the relevant accounts on the applicable Distribution
Dates. Payments in respect of the Common Securities shall be made in such manner
as shall be mutually agreed between the Property Trustee and the Holder of the
Common Securities.

          SECTION 4.5. Tax Returns and Reports.

          The Administrators shall prepare (or cause to be prepared), at the
Depositor's expense, and file all United States federal, state and local tax and
information returns and reports required to be filed by or in respect of the
Issuer Trust. In this regard, the Administrators shall (a) prepare and file (or
cause to be prepared and filed) all Internal Revenue Service forms required to
be filed in respect of the Issuer Trust in each taxable year of the Issuer Trust
and (b) prepare and furnish (or cause to be prepared and furnished) to each
Holder all Internal Revenue Service forms required to be provided by the Issuer
Trust. The Administrators shall provide the Depositor and the Property Trustee
with a copy of all such returns and reports promptly after such filing or
furnishing. The Issuer Trustees shall comply with United States Federal
withholding and backup withholding tax laws and information reporting
requirements with respect to any payments to Holders under the Trust Securities.

                                       22

<PAGE>

          On or before December 15 of each year during which any Capital
Securities are Outstanding, the Administrators shall furnish to the Paying Agent
such information as may be reasonably requested by the Property Trustee in order
that the Property Trustee may prepare the information which it is required to
report for such year on Internal Revenue Service Forms 1096 and 1099 pursuant to
Section 6049 of the Code. Such information shall include the amount of original
issue discount includable in income for each Outstanding Capital Security during
such year, if any.

          SECTION 4.6. Payment of Taxes, Duties, Etc. of the Issuer Trust.

          Upon receipt under the Junior Subordinated Debentures of Additional
Sums, the Property Trustee shall promptly pay any taxes, duties or governmental
charges of whatsoever nature (other than withholding taxes) imposed on the
Issuer Trust by the United States or any other taxing authority out of the
proceeds of the Additional Sums.

          SECTION 4.7. Payments under Indenture or Pursuant to Direct Actions.

          Any amount payable hereunder to any Holder of Capital Securities shall
be reduced by the amount of any corresponding payment such Holder (or Owner) has
directly received pursuant to Section 5.8 of the Indenture or Section 5.13 of
this Trust Agreement.

          SECTION 4.8. Liability of the Holder of Common Securities.

          The Holder of Common Securities shall be liable for the debts and
obligations of the Issuer Trust as set forth in Section 6.7 of the Indenture
regarding allocation of expenses.

                                    ARTICLE V

                          TRUST SECURITIES CERTIFICATES

          SECTION 5.1. Initial Ownership.

          Upon the creation of the Issuer Trust and the contribution by the
Depositor pursuant to Section 2.3 and until the issuance of the Trust
Securities, and at any time during which no Trust Securities are Outstanding,
the Depositor shall be the sole beneficial owner of the Issuer Trust.

          SECTION 5.2. The Trust Securities Certificates.

          (a) The Capital Securities Certificates shall be issued in fully
registered form. The Trust Securities Certificates shall be executed on behalf
of the Issuer Trust by manual or facsimile signature of at least one
Administrator. Trust Securities Certificates bearing the manual or facsimile
signatures of individuals who were, at the time when such signatures shall have
been affixed, authorized to sign on behalf of the Issuer Trust, shall be validly
issued and entitled to the benefits of this Trust Agreement, notwithstanding
that such individuals or any of them shall have ceased to be so authorized prior
to the delivery of such Trust Securities Certificates or did not hold such
offices at the

                                       23

<PAGE>

date of delivery of such Trust Securities Certificates. A transferee of a Trust
Securities Certificate shall become a Holder, and shall be entitled to the
rights and subject to the obligations of a Holder hereunder, upon due
registration of such Trust Securities Certificate in such transferee's name
pursuant to Section 5.5.

          (b) Upon their original issuance, Capital Securities Certificates
shall be issued in the form of one or more Global Capital Securities
Certificates which initially shall bear a Restricted Capital Securities Legend,
registered in the name of Cede as the Depositary's nominee and deposited with or
on behalf of Depositary for credit by Depositary to the respective accounts of
the Owners thereof (or such other accounts as they may direct). Except as set
forth herein, record ownership of the Global Capital Securities may be
transferred, in whole or in part, only to another nominee of Depositary or to a
successor of the Depository or its nominee.

          (c) A single Common Securities Certificate representing the Common
Securities shall be issued to the Depositor in the form of a definitive Common
Securities Certificate.

          SECTION 5.3. Execution and Delivery of Trust Securities Certificates.

          At the Closing, an Administrator shall execute, on behalf of the
Trust, Trust Securities Certificates, in an aggregate Liquidation Amount as
provided in Sections 2.4 and 2.5, and deliver such Trust Securities Certificates
to the Property Trustee for authentication. Upon such delivery, the Property
Trustee shall authenticate such Trust Securities Certificates and deliver such
Trust Securities Certificates upon the written order of the Trust, executed by
an Administrator thereof, without further corporate action by the Depositor, in
authorized denominations.

          SECTION 5.4. Global Capital Securities.

          (a) The Global Capital Security issued under this Trust Agreement
shall be registered in the name of Cede, as the nominee of the Clearing Agency
and delivered to such custodian therefor, and such Global Capital Security shall
constitute a single Capital Security for all purposes of this Trust Agreement,
and it shall initially bear a Restricted Capital Securities Legend.

          (b) Notwithstanding any other provision in this Trust Agreement, the
Global Capital Security may not be exchanged in whole or in part for Capital
Securities registered, and no transfer of the Global Capital Security in whole
or in part may be registered, in the name of any Person other than the Clearing
Agency for such Global Capital Security, Cede, or other nominee thereof unless:
(i) such Clearing Agency advises the Depositor and the Property Trustee in
writing that such Clearing Agency is no longer willing or able to properly
discharge its responsibilities as the Clearing Agency with respect to such
Global Capital Security, and the Depositor is unable to locate a qualified
successor within 90 days, (ii) at any time the Depositary ceases to be a
Clearing Agency registered as such under the Exchange Act, (iii) the Issuer
Trust at its option advises the Depositary in writing that it elects to
terminate the book-entry system through the Clearing Agency.

                                       24

<PAGE>

          (c) If the Global Capital Security is to be exchanged or canceled in
whole, it shall be surrendered by or on behalf of the Clearing Agency or its
nominee to the Securities Registrar for exchange or cancellation as provided in
this Article V. If the Global Capital Security is to be exchanged or canceled in
part, or if another Capital Security is to be exchanged in whole or in part for
a beneficial interest in the Global Capital Security, then either: (i) such
Global Capital Security shall be so surrendered for exchange or cancellation as
provided in this Article V, or (ii) the Liquidation Amount thereof shall be
reduced or increased by an amount equal to the portion thereof to be so
exchanged or canceled or equal to the Liquidation Amount of such other Capital
Security to be so exchanged for a beneficial interest therein, as the case may
be, by means of an appropriate adjustment made on the records of the Security
Registrar, whereupon the Property Trustee, in accordance with the Applicable
Procedures, shall instruct the Clearing Agency or its authorized representative
to make a corresponding adjustment to its records. Upon any such surrender or
adjustment of the Global Capital Security by the Clearing Agency, accompanied by
registration instructions, the Property Trustee shall, subject to Section 5.4(b)
and as otherwise provided in this Article V, authenticate and deliver any
Capital Securities or Restricted Capital Securities, as applicable and as
instructed by the Administrators, issuable in exchange for such Global Capital
Security (or any portion thereof) in accordance with the instructions of the
Clearing Agency. The Property Trustee shall not be liable for any delay in
delivery of such instructions and may conclusively rely on, and shall be fully
protected in relying on, such instructions.

          (d) Every Capital Security or Restricted Capital Securities
authenticated and delivered upon registration of, transfer of, or in exchange
for or in lieu of, the Global Capital Security or any portion thereof, whether
pursuant to this Article V or Article IV or otherwise, shall be authenticated
and delivered in the form of, and shall be, a Global Capital Security, unless
such Global Capital Security is registered in the name of a Person other than
the Clearing Agency for such Global Capital Security or a nominee thereof.

          (e) The Clearing Agency or its nominee, as the registered owner of the
Global Capital Security, shall be considered the Holder of the Capital
Securities or the Restricted Capital Securities represented by the Global
Capital Security for all purposes under this Trust Agreement and the Capital
Securities, and owners of beneficial interests in the Global Capital Security
shall hold such interests pursuant to the Applicable Procedures and, except as
otherwise provided herein, shall not be entitled to have any of the individual
Capital Securities or the Restricted Capital Securities represented by the
Global Capital Security registered in their names, shall not receive nor be
entitled to receive physical delivery of any such Capital Securities or the
Restricted Capital Securities in definitive form and shall not be considered the
Holders thereof under this Trust Agreement. Accordingly, any such owner's
beneficial interest in the Global Capital Security shall be shown only on, and
the transfer of such interest shall be effected only through, records maintained
by the Clearing Agency or its nominee. Neither the Property Trustee nor the
Securities Registrar shall have any liability in respect of any transfers
effected by the Clearing Agency.

          (f) The rights of owners of beneficial interests in the Global Capital
Security shall be exercised only through the Clearing Agency and shall be
limited to those established by law and agreements between such owners and the
Clearing Agency.

                                       25

<PAGE>

          SECTION 5.5. Registration of Transfer and Exchange Generally; Certain
Transfers and Exchanges; Capital Securities Certificates; Securities Act
Legends.

          (a) The Property Trustee shall keep or cause to be kept at its
Corporate Trust Office a register or registers (the "Securities Register") for
                                                     -------------------
the purpose of registering Capital Securities Certificates and Common Securities
Certificates and transfers and exchanges of Capital Securities Certificates and
Common Securities Certificates and acting as the registrar and transfer agent
with respect to the Capital Securities and Common Securities Certificates (the
"Securities Registrar"), subject to such reasonable regulations as it may
 --------------------
prescribe, and shall provide for the registration of Capital Securities
Certificates and Common Securities Certificates (subject to Section 5.11 in the
case of Common Securities Certificates) in the Securities Register. The Property
Trustee is hereby appointed Securities Registrar. The Securities Registrar shall
maintain stop transfer instructions in the Securities Register and as it
otherwise deems appropriate to restrict the transfer of Restricted Capital
Securities consistent with the terms of this Agreement.

          Upon surrender for registration of transfer of any Capital Securities
Certificate at the offices or agencies of the Property Trustee designated for
that purpose, the Administrators shall execute, and the Property Trustee shall
authenticate and deliver, in the name of the designated transferee or
transferees, one or more new Capital Securities Certificates of the same series
of any authorized denominations of like tenor and aggregate principal amount and
bearing such restrictive legends (including the Restricted Capital Securities
Legend) as may be required by this Trust Agreement.

          At the option of the Holder, Capital Securities Certificates may be
exchanged for other Capital Securities Certificates of any authorized
denominations, of like tenor and aggregate Liquidation Amount and bearing such
restrictive legends (including the Restricted Capital Securities Legend) as may
be required by this Trust Agreement, upon surrender of the Capital Securities
Certificates to be exchanged at such office or agency of the Property Trustee.
Whenever any securities are so surrendered for exchange, the Administrators
shall execute and the Property Trustee shall authenticate and deliver the
Capital Securities Certificates that the Holder making the exchange is entitled
to receive.

          All Capital Securities issued upon any transfer or exchange of Capital
Securities shall be the valid obligations of the Issuer Trust, evidencing the
same obligations, and entitled to the same benefits under this Trust Agreement,
as the Capital Securities surrendered upon such transfer or exchange.

          Every Capital Securities Certificate presented or surrendered for
transfer or exchange shall (if so required by the Property Trustee) be duly
endorsed, or be accompanied by a written instrument of transfer in form
satisfactory to the Property Trustee and the Securities Registrar, duly executed
by the Holder thereof or such Holder's attorney duly authorized in writing.

          No service charge shall be made to a Holder for any transfer or
exchange of Capital Securities Certificates, but the Property Trustee may
require payment of a sum sufficient to cover any

                                       26

<PAGE>

tax or other governmental charge that may be imposed in connection with any
transfer or exchange of Capital Securities Certificates.

          Neither the Issuer Trust nor the Property Trustee shall be required,
pursuant to the provisions of this Section: (i) to issue, register the transfer
of or exchange any Capital Securities Certificates during a period beginning at
the opening of business 15 days before the day of selection for redemption of
Capital Securities pursuant to Article IV and ending at the close of business on
the day of mailing of the notice of redemption, or (ii) to register the transfer
of or exchange any Capital Security so selected for redemption in whole or in
part, except, in the case of any such Capital Security to be redeemed in part,
any portion thereof not to be redeemed.

          (b) Certain Transfers and Exchanges. Notwithstanding any other
              -------------------------------
provision of this Trust Agreement, transfers and exchanges of Capital Securities
and beneficial interests in a Global Capital Security shall be made only in
accordance with this Section 5.5(b).

               (i) Non-Global Restricted Capital Security to Global Capital
                   --------------------------------------------------------
          Security. If the Holder of a Restricted Capital Security (other than
          --------
          the Global Capital Security) wishes at any time to transfer all or any
          portion of such Trust Security to a Person who wishes to take delivery
          thereof in the form of a beneficial interest in the Global Capital
          Security, such transfer may be effected only in accordance with the
          provisions of this clause (b)(i) and subject to the Applicable
          Procedures. Upon receipt by the Security Registrar of (A) such
          Restricted Capital Security as provided in Section 5.5(a) and
          instructions satisfactory to the Security Registrar directing that a
          beneficial interest in the Global Capital Security in a specified
          Liquidation Amount not greater than the Liquidation Amount of such
          Restricted Capital Security to be credited to a specified Clearing
          Agency Participant's account, and (B) a Restricted Securities
          Certificate duly executed for transfer by such Holder or such Holder's
          attorney duly authorized in writing, then the Security Registrar shall
          cancel such Restricted Capital Security (and issue a new Restricted
          Capital Security in respect of any untransferred portion thereof) as
          provided in Section 5.5(a) and increase the aggregate Liquidation
          Amount of the Global Capital Security by the specified Liquidation
          Amount as provided in Section 5.4(c).

               (ii) Non-Global Capital Security to Non-Global Capital Security.
                    ----------------------------------------------------------
          A Trust Security that is not a Global Capital Security may be
          transferred, in whole or in part, to a Person who takes delivery in
          the form of another Trust Security that is not a Global Capital
          Security as provided in Section 5.5(a), provided that if the Trust
          Security to be transferred in whole or in part is a Restricted Capital
          Security, the Securities Registrar shall have received a Restricted
          Securities Certificate duly executed by the transferor Holder or such
          Holder's attorney duly authorized in writing and the Securities
          Registrar shall only be required to register the transfer of such
          Restricted Securities Certificate upon direction from the Depositor
          that such transfer is permissible.

                                       27

<PAGE>

               (iii) Exchanges Between Global Capital Security and Non-Global
                     --------------------------------------------------------
          Trust Security. A beneficial interest in the Global Capital Security
          --------------
          may be exchanged for a Trust Security that is not a Global Capital
          Security only as provided in Section 5.4.

               (iv) Certain Initial Transfers of Non-Global Trust Securities. In
                    --------------------------------------------------------
          the case of Trust Securities initially issued other than in global
          form, an initial transfer or exchange of such Trust Securities that
          does not involve any change in beneficial ownership may be made to an
          institutional accredited investor or investors as if such transfer or
          exchange were not an initial transfer or exchange; provided that
          written certification shall be provided by the transferee and
          transferor of such Trust Securities to the Securities Registrar that
          such transfer or exchange does not involve a change in beneficial
          ownership.

               (v) Limitations Relating to Principal Amount. Notwithstanding any
                   ----------------------------------------
          other provision of this Trust Agreement and unless otherwise specified
          as permitted by this Trust Agreement, Trust Securities or portions
          thereof may be transferred or exchanged only in principal amounts of
          not less than $50,000. Any transfer, exchange or other disposition of
          Trust Securities in contravention of this Section 5.5(b)(v) shall be
          deemed to be void and of no legal effect whatsoever, any such
          transferee shall be deemed not to be the Holder or owner of any
          beneficial interest in such Trust Securities for any purpose,
          including but not limited to the receipt of interest payable on such
          Trust Securities, such transferee shall be deemed to have no interest
          whatsoever in such Trust Securities, and the Securities Registrar
          shall not record any such transfer in the Securities Register.

          (c) Restricted Securities Legend. Except as set forth below, all
              ----------------------------
Capital Securities shall bear a Restricted Capital Securities Legend:

               (i) subject to the following Clauses of this Section 5.5(c), a
          Capital Security or any portion thereof that is exchanged, upon
          transfer or otherwise, for a Global Capital Security or any portion
          thereof shall bear the Restricted Capital Securities Legend while
          represented thereby;

               (ii) subject to the following Clauses of this Section 5.5(c), a
          new Capital Security which is not a Global Capital Security and is
          issued in exchange for another Capital Security (including a Global
          Capital Security) or any portion thereof, upon transfer or otherwise,
          shall, if such new Capital Security is required to be issued in the
          form of a Restricted Capital Security, bear a Restricted Capital
          Securities Legend;

               (iii) a new Capital Security (other than a Global Capital
          Security) that does not bear a Restricted Capital Securities Legend
          may be issued in exchange for or in lieu of a Restricted Capital
          Security or any portion thereof that bears such a legend if, in the
          Depositor's judgment, placing such a legend upon such new Capital
          Security is not necessary to ensure compliance with the requirements
          of the Securities Act and is permissible under Commission Rule 144(k),
          and the Property Trustee, at the written

                                       28

<PAGE>

          direction of the Administrator of the Issuer Trust in the form of an
          Officers' Certificate, shall authenticate and deliver such new Capital
          Security as provided in this Article V;

               (iv) notwithstanding the foregoing provisions of this Section
          5.5(c), a Successor Capital Security of a Capital Security that does
          not bear a Restricted Capital Securities Legend shall not bear such
          form of legend, unless the Depositor has reasonable cause to believe
          that such Successor Capital Security is a "restricted security" within
          the meaning of Rule 144 under the Securities Act, in which case the
          Property Trustee, at the written direction of any Administrator of the
          Issuer Trust in the form of an Officers' Certificate, shall
          authenticate and deliver a new Capital Security bearing a Restricted
          Capital Securities Legend in exchange for such Successor Capital
          Security as provided in this Article V; and

               (v) Junior Subordinated Debentures distributed to a holder of
          Capital Securities upon dissolution of the Issuer Trust shall bear a
          Restricted Capital Securities Legend, if the Capital Securities so
          held bear a similar legend, absent instructions from the Depositor
          that such legend can be removed consistent with the requirements of
          the Securities Act, and Commission Rule 144 thereunder.

          SECTION 5.6. Mutilated, Destroyed, Lost or Stolen Trust Securities
Certificates.

          If (a) any mutilated Trust Securities Certificate shall be surrendered
to the Securities Registrar, or if the Securities Registrar shall receive
evidence to its satisfaction of the destruction, loss or theft of any Trust
Securities Certificate and (b) there shall be delivered to the Securities
Registrar and the Administrators such security, indemnity and/or other assurance
as may be required by them, in their discretion, to save each of them harmless,
then in the absence of notice that such Trust Securities Certificate shall have
been acquired by a bona fide purchaser, the Administrators, or any one of them,
on behalf of the Issuer Trust shall execute and make available for delivery, and
the Property Trustee shall authenticate, in exchange for or in lieu of any such
mutilated, destroyed, lost or stolen Trust Securities Certificate, a new Trust
Securities Certificate of like class, tenor and denomination. In connection with
the issuance of any new Trust Securities Certificate under this Section, the
Administrators or the Securities Registrar may require the payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in
connection therewith. Any duplicate Trust Securities Certificate issued pursuant
to this Section 5.6 shall constitute conclusive evidence of an undivided
beneficial interest in the assets of the Issuer Trust corresponding to that
evidenced by the lost, stolen or destroyed Trust Securities Certificate, as if
originally issued, whether or not the lost, stolen or destroyed Trust Securities
Certificate shall be found at any time.

          SECTION 5.7. Persons Deemed Holders.

          The Issuer Trustees and the Securities Registrar shall treat the
Person in whose name any Trust Securities are issued as the sole owner of such
Trust Securities for the purpose of receiving

                                       29

<PAGE>

Distributions and for all other purposes whatsoever, and none of the Issuer
Trustees, the Administrators or the Securities Registrar shall be bound by any
notice to the contrary.

          SECTION 5.8. Access to List of Holders' Names and Addresses.

          Each Holder and each Owner shall be deemed to have agreed not to hold
the Depositor, the Property Trustee, or the Administrators accountable by reason
of the disclosure of its name and address, regardless of the source from which
such information was derived.

          SECTION 5.9. Maintenance of Office or Agency.

          The Property Trustee shall designate, with the consent of the
Administrators, which consent shall not be unreasonably withheld, an office or
offices or agency or agencies where Capital Securities Certificates may be
surrendered for registration of transfer or exchange and where notices and
demands to or upon the Issuer Trustees in respect of the Trust Securities
Certificates may be served. The Property Trustee initially designates its
Corporate Trust Office as its corporate trust office for such purposes. The
Property Trustee shall give prompt written notice to the Depositor, the
Administrators and to the Holders of any change in the location of the
Securities Register or any such office or agency.

          SECTION 5.10. Appointment of Paying Agent.

          The Paying Agent shall make Distributions to Holders from the Payment
Account and shall report the amounts of such Distributions to the Property
Trustee and the Administrators. Any Paying Agent shall have the revocable power
to withdraw funds from the Payment Account solely for the purpose of making the
Distributions referred to above. The Property Trustee may revoke such power and
remove any Paying Agent in its sole discretion. The Paying Agent shall initially
be the Property Trustee. Any Person acting as Paying Agent shall be permitted to
resign as Paying Agent upon 30 days' written notice to the Administrators and
the Property Trustee. In the event that the Property Trustee shall no longer be
the Paying Agent or a successor Paying Agent shall resign or its authority to
act be revoked, the Property Trustee shall appoint a successor (which shall be a
bank or trust company) that is reasonably acceptable to the Administrators to
act as Paying Agent. Such successor Paying Agent or any additional Paying Agent
appointed by the Administrators shall execute and deliver to the Issuer Trustees
an instrument in which such successor Paying Agent or additional Paying Agent
shall agree with the Issuer Trustees that as Paying Agent, such successor Paying
Agent or additional Paying Agent will hold all sums, if any, held by it for
payment to the Holders in trust for the benefit of the Holders entitled thereto
until such sums shall be paid to such Holders. The Paying Agent shall return all
unclaimed funds to the Property Trustee and upon removal of a Paying Agent such
Paying Agent shall also return all funds in its possession to the Property
Trustee. The provisions of Sections 8.1, 8.3 and 8.6 herein shall apply to the
Bank also in its role as Paying Agent, for so long as the Bank shall act as
Paying Agent and, to the extent applicable, to any other paying agent appointed
hereunder. Any reference in this Trust Agreement to the Paying Agent shall
include any co-paying agent chosen by the Property Trustee, unless the context
requires otherwise.

                                       30

<PAGE>

          SECTION 5.11. Ownership of Common Securities by Depositor.

          At Closing, the Depositor shall acquire and retain beneficial and
record ownership of the Common Securities. Neither the Depositor nor any
successor Holder of the Common Securities may transfer less than all the Common
Securities, and the Depositor or any such successor Holder may transfer the
Common Securities only (i) in connection with a consolidation or merger of the
Depositor into another Person or any conveyance, transfer or lease by the
Depositor of its properties and assets substantially as an entirety to any
Person, pursuant to Section 8.1 of the Indenture, or (ii) to an Affiliate of the
Depositor in compliance with applicable law (including the Securities Act and
applicable state securities and blue sky laws); provided that any such transfer
shall be subject to the condition that the transferor shall have obtained (A)
either a ruling from the Internal Revenue Service or an unqualified written
Opinion of Counsel by a firm experienced in such matters addressed to the Issuer
Trust and delivered to the Issuer Trustees to the effect that such transfer will
not (1) cause the Issuer Trust to be treated as issuing a class of interests in
the Issuer Trust differing from the class of interests represented by the Common
Securities originally issued to the Depositor, (2) result in the Issuer Trust
acquiring or disposing of, or being deemed to have acquired or disposed of, an
asset, or (3) result in or cause the Issuer Trust to be treated as anything
other than a grantor trust for United States Federal income tax purposes and (B)
an unqualified written Opinion of Counsel by a firm experienced in such matters
addressed to the Issuer Trust and delivered to the Issuer Trustees to the effect
that such transfer will not cause the Issuer Trust to be an "investment company"
or controlled by an "investment company" that is required to be registered under
the Investment Company Act. To the fullest extent permitted by law, any
attempted transfer of the Common Securities, other than as set forth in the
immediately preceding sentence, shall be void. The Administrators shall cause
each Common Securities Certificate issued to the Depositor to contain a legend
stating "THIS CERTIFICATE IS NOT TRANSFERABLE EXCEPT IN COMPLIANCE WITH
APPLICABLE LAW AND SECTION 5.11 OF THE TRUST AGREEMENT."

          SECTION 5.12. Notices to Clearing Agency.

          To the extent that a notice or other communication to the Holders is
required under this Trust Agreement, with respect to Capital Securities
represented by Global Capital Securities Certificates, the Administrators and
the Issuer Trustees shall give all such notices and communications specified
herein to be given to the Clearing Agency, and shall have no obligations to give
such notice or other communication to the Owners.

          SECTION 5.13. Rights of Holders.

          (a) The legal title to the Trust Property is vested exclusively in the
Property Trustee (in its capacity as such) in accordance with Section 2.9, and
the Holders shall not have any right or title therein other than the undivided
beneficial ownership interest in the assets of the Issuer Trust conferred by
their Trust Securities and they shall have no right to call for any partition or
division of property, profits or rights of the Issuer Trust, except as described
below. The Trust Securities shall be personal property giving only the rights
specifically set forth therein and in this Trust Agreement. The Trust Securities
shall have no preemptive or similar rights, and when issued

                                       31

<PAGE>

and delivered to Holders against payment of the purchase price therefor, as
provided herein, will be fully paid and nonassessable by the Issuer Trust.
Except as otherwise provided in Section 4.8, the Holders of the Trust
Securities, in their capacities as such, shall be entitled to the same
limitation of personal liability extended to stockholders of private
corporations for profit organized under the General Corporation Law of the State
of Delaware.

          (b) For so long as any Capital Securities remain Outstanding, if, upon
a Debenture Event of Default, the Indenture Trustee fails or the holders of not
less than 25% in principal amount of the outstanding Junior Subordinated
Debentures fail to declare the principal of all of the Junior Subordinated
Debentures to be immediately due and payable, the Holders of at least 25% in
Liquidation Amount of the Capital Securities then Outstanding shall have such
right to make such declaration by a notice in writing to the Property Trustee,
the Depositor and the Indenture Trustee.

          At any time after such a declaration of acceleration with respect to
the Junior Subordinated Debentures has been made and before a judgment or decree
for payment of the money due has been obtained by the Indenture Trustee as
provided in the Indenture, the Holders of a Majority in Liquidation Amount of
the Capital Securities, by written notice to the Property Trustee, the Depositor
and the Indenture Trustee, may rescind and annul such declaration and its
consequences if:

               (i) the Depositor has paid or deposited with the Indenture
     Trustee a sum sufficient to pay

                    (A) all overdue installments of interest on all of the
          Junior Subordinated Debentures,

                    (B) any accrued Additional Interest on all of the Junior
          Subordinated Debentures,

                    (C) the principal of (and premium, if any, on) any Junior
          Subordinated Debentures which have become due otherwise than by such
          declaration of acceleration and interest and Additional Interest
          thereon at the rate borne by the Junior Subordinated Debentures, and

                    (D) all sums paid or advanced by the Indenture Trustee under
          the Indenture and the reasonable compensation, expenses, disbursements
          and advances of the Indenture Trustee and the Property Trustee, their
          agents and counsel; and

               (ii) all Events of Default with respect to the Junior
     Subordinated Debentures, other than the non-payment of the principal of the
     Junior Subordinated Debentures which has become due solely by such
     acceleration, have been cured or waived as provided in Section 5.13 of the
     Indenture.

          If the Property Trustee fails to annul any such declaration and waive
such default, the Holders of at least a Majority in Liquidation Amount of the
Capital Securities shall also have the right

                                       32

<PAGE>

to rescind and annul such declaration and its consequences by written notice to
the Depositor, the Property Trustee and the Indenture Trustee, subject to the
satisfaction of the conditions set forth in clauses (i) and (ii) of this Section
5.13(b).

          The Holders of at least a Majority in Liquidation Amount of the
Capital Securities may, on behalf of the Holders of all the Capital Securities,
waive any past default under the Indenture, except a default in the payment of
principal or interest (unless such default has been cured and a sum sufficient
to pay all matured installments of interest and principal due otherwise than by
acceleration has been deposited with the Indenture Trustee) or a default in
respect of a covenant or provision which under the Indenture cannot be modified
or amended without the consent of the holder of each outstanding Junior
Subordinated Debenture. No such rescission shall affect any subsequent default
or impair any right consequent thereon.

          Upon receipt by the Property Trustee of written notice declaring such
an acceleration, or rescission and annulment thereof, by Holders of the Capital
Securities, all or part of which is represented by the Global Capital Securities
Certificate, a record date shall be established for determining Holders of
Outstanding Capital Securities entitled to join in such notice, which record
date shall be at the close of business on the day the Property Trustee receives
such notice. The Holders on such record date, or their duly designated proxies,
and only such Persons, shall be entitled to join in such notice, whether or not
such Holders remain Holders after such record date; provided that, unless such
declaration of acceleration, or rescission and annulment, as the case may be,
shall have become effective by virtue of the requisite percentage having joined
in such notice prior to the day which is 90 days after such record date, such
notice of declaration of acceleration, or rescission and annulment, as the case
may be, shall automatically and without further action by any Holder be canceled
and of no further effect. Nothing in this paragraph shall prevent a Holder, or a
proxy of a Holder, from giving, after expiration of such 90-day period, a new
written notice of declaration of acceleration, or rescission and annulment
thereof, as the case may be, that is identical to a written notice which has
been canceled pursuant to the proviso to the preceding sentence, in which event
a new record date shall be established pursuant to the provisions of this
Section 5.13(b).

          (c) For so long as any Capital Securities remain Outstanding, to the
fullest extent permitted by law and subject to the terms of this Trust Agreement
and the Indenture, upon a Debenture Event of Default specified in Section 5.1(1)
or 5.1(2) of the Indenture, any Holder of Capital Securities shall have the
right to institute a proceeding directly against the Depositor, pursuant to
Section 5.8 of the Indenture, for enforcement of payment to such Holder of the
principal amount of or interest on Junior Subordinated Debentures having an
aggregate principal amount equal to the aggregate Liquidation Amount of the
Capital Securities of such Holder (a "Direct Action"). Except as set forth in
                                      -------------
Sections 5.13(b) and 5.13(c), the Holders of Capital Securities shall have no
right to exercise directly any right or remedy available to the holders of, or
in respect of, the Junior Subordinated Debentures.

                                   ARTICLE VI

                        ACTS OF HOLDERS; MEETINGS; VOTING

                                       33

<PAGE>

          SECTION 6.1. Limitations on Holders' Voting Rights.

          (a) Except as provided in this Trust Agreement and in the Indenture
and as otherwise required by law, no Holder of Capital Securities shall have any
right to vote or in any manner otherwise control the administration, operation
and management of the Issuer Trust or the obligations of the parties hereto, nor
shall anything herein set forth or contained in the terms of the Trust
Securities Certificates be construed so as to constitute the Holders from time
to time as members of an association.

          (b) So long as any Junior Subordinated Debentures are held by the
Property Trustee on behalf of the Issuer Trust, the Property Trustee shall not
(i) direct the time, method and place of conducting any proceeding for any
remedy available to the Indenture Trustee, or execute any trust or power
conferred on the Property Trustee with respect to such Junior Subordinated
Debentures, (ii) waive any past default that may be waived under Section 5.13 of
the Indenture, (iii) exercise any right to rescind or annul a declaration that
the principal of all the Junior Subordinated Debentures shall be due and payable
or (iv) consent to any amendment, modification or termination of the Indenture
or the Junior Subordinated Debentures, where such consent shall be required,
without, in each case, obtaining the prior approval of the Holders of at least a
Majority in Liquidation Amount of the Capital Securities, provided, however,
that where a consent under the Indenture would require the consent of each
holder of Junior Subordinated Debentures affected thereby, no such consent shall
be given by the Property Trustee without the prior written consent of each
Holder of Capital Securities. The Property Trustee shall not revoke any action
previously authorized or approved by a vote of the Holders of Capital
Securities, except by a subsequent vote of the Holders of Capital Securities.
The Property Trustee shall notify all Holders of the Capital Securities of any
notice of default received with respect to the Junior Subordinated Debentures.
In addition to obtaining the foregoing approvals of the Holders of the Capital
Securities, prior to taking any of the foregoing actions, the Property Trustee
shall, at the expense of the Depositor, obtain an Opinion of Counsel experienced
in such matters to the effect that such action will not cause the Issuer Trust
to be taxable other than as a grantor trust for United States Federal income tax
purposes.

          (c) If any proposed amendment to the Trust Agreement provides for, or
the Issuer Trust otherwise proposes to effect, (i) any action that would
adversely affect in any material respect the interests, powers, preferences or
special rights of the Capital Securities, whether by way of amendment to the
Trust Agreement or otherwise, or (ii) the dissolution, winding-up or termination
of the Issuer Trust, other than pursuant to the terms of this Trust Agreement,
then the Holders of Outstanding Trust Securities as a class will be entitled to
vote on such amendment or proposal and such amendment or proposal shall not be
effective except with the approval of the Holders of at least a Majority in
Liquidation Amount of the Capital Securities. Notwithstanding any other
provision of this Trust Agreement, no amendment to this Trust Agreement may be
made if, as a result of such amendment, it would cause the Issuer Trust to be
taxable other than as a grantor trust for United States Federal income tax
purposes.

          SECTION 6.2. Notice of Meetings.

                                       34

<PAGE>

          Notice of all meetings of the Holders, stating the time, place and
purpose of the meeting, shall be given by the Property Trustee pursuant to
Section 10.8 to each Holder of record, at his registered address, at least 15
days and not more than 90 days before the meeting. At any such meeting, any
business properly before the meeting may be so considered whether or not stated
in the notice of the meeting. Any adjourned meeting may be held as adjourned
without further notice.

          SECTION 6.3. Meetings of Holders.

          No annual meeting of Holders is required to be held. The Property
Trustee, however, shall call a meeting of Holders to vote on any matter upon the
written request of the Holders of record of 25% of the aggregate Liquidation
Amount of the Capital Securities and the Administrators or the Property Trustee
may, at any time in their discretion, call a meeting of Holders of Capital
Securities to vote on any matters as to which Holders are entitled to vote.

          Holders of at least a Majority in Liquidation Amount of the Capital
Securities, present in person or represented by proxy, shall constitute a quorum
at any meeting of Holders of the Capital Securities.

          If a quorum is present at a meeting, an affirmative vote by the
Holders of record present, in person or by proxy, holding Capital Securities
representing at least a Majority in Liquidation Amount of the Capital Securities
held by the Holders present, either in person or by proxy, at such meeting shall
constitute the action of the Holders of Capital Securities, unless this Trust
Agreement requires a greater number of affirmative votes.

          SECTION 6.4. Voting Rights.

          Holders shall be entitled to one vote for each $50,000.00 of
Liquidation Amount represented by their Outstanding Trust Securities in respect
of any matter as to which such Holders are entitled to vote.

          SECTION 6.5. Proxies, etc.

          At any meeting of Holders, any Holder entitled to vote at such meeting
may vote by proxy, provided that no proxy shall be voted at any meeting unless
it shall have been placed on file with the Property Trustee, or with such other
officer or agent of the Issuer Trust as the Property Trustee may direct, for
verification prior to the time at which such vote shall be taken. Pursuant to a
resolution of the Property Trustee, proxies may be solicited in the name of the
Property Trustee or one or more officers of the Property Trustee. Only Holders
of record shall be entitled to vote. When Trust Securities are held jointly by
several persons, any one of them may vote at any meeting in person or by proxy
in respect of such Trust Securities, but if more than one of them shall be
present at such meeting in person or by proxy, and such joint owners or their
proxies so present disagree as to any vote to be cast, such vote shall not be
received in respect of such Trust Securities. A proxy purporting to be executed
by or on behalf of a Holder shall be deemed valid unless challenged at or

                                       35

<PAGE>

prior to its exercise, and the burden of proving invalidity shall rest on the
challenger. No proxy shall be valid more than three years after its date of
execution.

          SECTION 6.6. Holder Action by Written Consent.

          Any action which may be taken by Holders at a meeting may be taken
without a meeting and without prior notice if Holders holding at least a
Majority in Liquidation Amount of all Trust Securities entitled to vote in
respect of such action (or such larger proportion thereof as shall be required
by any other provision of this Trust Agreement) shall consent to the action in
writing.

          SECTION 6.7. Record Date for Voting and Other Purposes.

          For the purposes of determining the Holders who are entitled to notice
of and to vote at any meeting or by written consent, or to participate in any
distribution on the Trust Securities in respect of which a record date is not
otherwise provided for in this Trust Agreement, or for the purpose of any other
action, the Administrators or Property Trustee may from time to time fix a date,
not more than 90 days prior to the date of any meeting of Holders or the payment
of a distribution or other action, as the case may be, as a record date for the
determination of the identity of the Holders of record for such purposes.

          SECTION 6.8. Acts of Holders.

          Any request, demand, authorization, direction, notice, consent, waiver
or other action provided or permitted by this Trust Agreement to be given, made
or taken by Holders may be embodied in and evidenced by one or more instruments
of substantially similar tenor signed by such Holders in person or by an agent
duly appointed in writing; and, except as otherwise expressly provided herein,
such action shall become effective when such instrument or instruments are
delivered to the Property Trustee. Such instrument or instruments (and the
action embodied therein and evidenced thereby) are herein sometimes referred to
as an "Act" of the Holders signing such instrument or instruments. Proof of
       ---
execution of any such instrument or of a writing appointing any such agent shall
be sufficient for any purpose of this Trust Agreement and (subject to Section
8.1) conclusive in favor of the Issuer Trustees, if made in the manner provided
in this Section.

          The fact and date of the execution by any Person of any such
instrument or writing may be proved by the affidavit of a witness of such
execution or by a certificate of a notary public or other officer authorized by
law to take acknowledgments of deeds, certifying that the individual signing
such instrument or writing acknowledged to him the execution thereof. Where such
execution is by a signer acting in a capacity other than his individual
capacity, such certificate or affidavit shall also constitute sufficient proof
of his authority. The fact and date of the execution of any such instrument or
writing, or the authority of the Person executing the same, may also be proved
in any other manner which any Issuer Trustee or Administrator receiving the same
deems sufficient.

          The ownership of Trust Securities shall be proved by the Securities
Register.

                                       36

<PAGE>

          Any request, demand, authorization, direction, notice, consent, waiver
or other Act of the Holder of any Trust Security shall bind every future Holder
of the same Trust Security and the Holder of every Trust Security issued upon
the registration of transfer thereof or in exchange therefor or in lieu thereof
in respect of anything done, omitted or suffered to be done by the Issuer
Trustees, the Administrators or the Issuer Trust in reliance thereon, whether or
not notation of such action is made upon such Trust Security.

          Without limiting the foregoing, a Holder entitled hereunder to take
any action hereunder with regard to any particular Trust Security may do so with
regard to all or any part of the Liquidation Amount of such Trust Security or by
one or more duly appointed agents each of which may do so pursuant to such
appointment with regard to all or any part of such Liquidation Amount.

          If any dispute shall arise among the Holders, the Administrators or
the Issuer Trustees with respect to the authenticity, validity or binding nature
of any request, demand, authorization, direction, consent, waiver or other Act
of such Holder or Issuer Trustee under this Article VI, then the determination
of such matter by the Property Trustee shall be conclusive with respect to such
matter.

          SECTION 6.9. Inspection of Records.

          Upon reasonable notice to the Administrators and the Property Trustee,
the records of the Issuer Trust shall be open to inspection by Holders during
normal business hours for any purpose reasonably related to such Holder's
interest as a Holder.

                                   ARTICLE VII

                         REPRESENTATIONS AND WARRANTIES

          SECTION 7.1. Representations and Warranties of the Property Trustee
and the Delaware Trustee.

          The Property Trustee and the Delaware Trustee, each severally on
behalf of and as to itself, hereby represents and warrants for the benefit of
the Depositor and the Holders that:

          (a) The Property Trustee is a banking corporation with trust powers,
duly organized, validly existing and in good standing under the laws of the
State of Delaware with the trust powers and authority to execute and deliver,
and to carry out and perform its obligations under the terms of this Trust
Agreement.

          (b) The execution, delivery and performance by the Property Trustee of
this Trust Agreement have been duly authorized by all necessary corporate action
on the part of the Property Trustee; and this Trust Agreement has been duly
executed and delivered by the Property Trustee, and constitutes a legal, valid
and binding obligation of the Property Trustee, enforceable against it in
accordance with its terms, subject to applicable bankruptcy, reorganization,
receivership,

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<PAGE>

conservatorship, moratorium, insolvency, and other similar laws affecting
creditors' rights generally and to general principles of equity and the
discretion of the court (regardless of whether the enforcement of such remedies
is considered in a proceeding in equity or at law).

          (c) The execution, delivery and performance of this Trust Agreement by
the Property Trustee do not conflict with or constitute a breach of the
certificate of incorporation or by-laws of the Property Trustee.

          (d) At Closing, the Property Trustee has not knowingly created any
Liens on the Trust Securities.

          (e) No consent, approval or authorization of, or registration with or
notice to, any state or federal banking authority is required for the execution,
delivery or performance by the Property Trustee, of this Trust Agreement.

          (f) The Delaware Trustee is duly organized, validly existing and in
good standing under the laws of the State of Delaware, with the trust powers and
authority to execute and deliver, and to carry out and perform its obligations
under the terms of, this Trust Agreement.

          (g) The execution, delivery and performance by the Delaware Trustee of
this Trust Agreement have been duly authorized by all necessary corporate action
on the part of the Delaware Trustee; and this Trust Agreement has been duly
executed and delivered by the Delaware Trustee, and constitutes a legal, valid
and binding obligation of the Delaware Trustee, enforceable against it in
accordance with its terms, subject to applicable bankruptcy, reorganization,
receivership, conservatorship, moratorium, insolvency, and other similar laws
affecting creditors' right generally and to general principles of equity and the
discretion of the court (regardless of whether the enforcement of such remedies
is considered in a proceeding in equity or at law).

          (h) The execution, delivery and performance of this Trust Agreement by
the Delaware Trustee do not conflict with or constitute a breach of the
certificate of incorporation or by-laws of the Delaware Trustee.

          (i) No consent, approval or authorization of, or registration with or
notice to any state or Federal banking authority is required for the execution,
delivery or performance by the Delaware Trustee, of this Trust Agreement.

          (j) The Delaware Trustee is an entity which has its principal place of
business in the State of Delaware.

          SECTION 7.2. Representations and Warranties of Depositor.

          The Depositor hereby represents and warrants for the benefit of the
Holders that:

          (a) the Trust Securities Certificates issued at Closing on behalf of
the Issuer Trust have been duly authorized and will have been duly and validly
executed, and, subject to payment

                                       38

<PAGE>

therefor, issued and delivered by the Issuer Trustees pursuant to the terms and
provisions of, and in accordance with the requirements of, this Trust Agreement,
and the Holders will be, as of each such date, entitled to the benefits of this
Trust Agreement; and

          (b) there are no taxes, fees or other governmental charges payable by
the Issuer Trust (or the Issuer Trustees on behalf of the Issuer Trust) under
the laws of the State of Delaware or any political subdivision thereof in
connection with the execution, delivery and performance by either the Property
Trustee or the Delaware Trustee, as the case may be, of this Trust Agreement.

                                  ARTICLE VIII

                     THE ISSUER TRUSTEES; THE ADMINISTRATORS

          SECTION 8.1. Certain Duties and Responsibilities.

         (a) The duties and responsibilities of the Issuer Trustees and
the Administrators shall be as provided by this Trust Agreement and, in the case
of the Property Trustee, by the Trust Indenture Act. Notwithstanding the
foregoing, no provision of this Trust Agreement shall require the Issuer
Trustees or the Administrators to expend or risk their own funds or otherwise
incur any financial liability in the performance of any of their duties
hereunder, or in the exercise of any of their rights or powers, if they shall
have reasonable grounds for believing that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured to it.
Whether or not therein expressly so provided, every provision of this Trust
Agreement relating to the conduct or affecting the liability of or affording
protection to the Issuer Trustees or the Administrators shall be subject to the
provisions of this Section. Nothing in this Trust Agreement shall be construed
to release an Administrator or an Issuer Trustee from liability for its own
negligent action, its own negligent failure to act, or its own willful
misconduct. To the extent that, at law or in equity, an Issuer Trustee or
Administrator has duties and liabilities relating to the Issuer Trust or to the
Holders, such Issuer Trustee or Administrator shall not be liable to the Issuer
Trust or to any Holder for such Issuer Trustee's or Administrator's good faith
reliance on the provisions of this Trust Agreement. The provisions of this Trust
Agreement, to the extent that they restrict the duties and liabilities of the
Issuer Trustees and Administrators otherwise existing at law or in equity, are
agreed by the Depositor and the Holders to replace such other duties and
liabilities of the Issuer Trustees and Administrators.

          (b) All payments made by the Property Trustee or a Paying Agent in
respect of the Trust Securities shall be made only from the revenue and proceeds
from the Trust Property and only to the extent that there shall be sufficient
revenue or proceeds from the Trust Property to enable the Property Trustee or a
Paying Agent to make payments in accordance with the terms hereof. Each Holder,
by its acceptance of a Trust Security, agrees that it will look solely to the
revenue and proceeds from the Trust Property to the extent legally available for
distribution to it as herein provided and that neither the Issuer Trustees nor
the Administrators are personally liable to it for any amount distributable in
respect of any Trust Security or for any other liability in respect of any Trust
Security. This Section 8.1(b) does not limit the liability of the Issuer
Trustees expressly set forth elsewhere in this Trust Agreement or, in the case
of the Property Trustee, in the Trust Indenture Act.

                                       39

<PAGE>

          (c) The Property Trustee, before the occurrence of any Event of
Default and after the curing of all Events of Default that may have occurred,
shall undertake to perform only such duties as are specifically set forth in
this Trust Agreement (including pursuant to Section 10.10), and no implied
covenants shall be read into this Trust Agreement against the Property Trustee.
If an Event of Default has occurred (that has not been cured or waived pursuant
to Section 5.13 of the Indenture), the Property Trustee shall enforce this Trust
Agreement for the benefit of the Holders and shall exercise such of the rights
and powers vested in it by this Trust Agreement, and use the same degree of care
and skill in its exercise thereof, as a prudent person would exercise or use
under the circumstances in the conduct of his or her own affairs.

          (d) No provision of this Trust Agreement shall be construed to relieve
the Property Trustee from liability for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that:

               (i) prior to the occurrence of any Event of Default and after the
     curing or waiving of all such Events of Default that may have occurred:

                    (A) the duties and obligations of the Property Trustee shall
          be determined solely by the express provisions of this Trust Agreement
          (including pursuant to Section 10.10), and the Property Trustee shall
          not be liable except for the performance of such duties and
          obligations as are specifically set forth in this Trust Agreement
          (including pursuant to Section 10.10); and

                    (B) in the absence of bad faith on the part of the Property
          Trustee, the Property Trustee may conclusively rely, as to the truth
          of the statements and the correctness of the opinions expressed
          therein, upon any certificates or opinions furnished to the Property
          Trustee and conforming to the requirements of this Trust Agreement;
          but in the case of any such certificates or opinions that by any
          provision hereof or of the Trust Indenture Act are specifically
          required to be furnished to the Property Trustee, the Property Trustee
          shall be under a duty to examine the same to determine whether or not
          they conform to the requirements of this Trust Agreement;

               (ii) the Property Trustee shall not be liable for any error of
     judgment made in good faith by an authorized officer of the Property
     Trustee, unless it shall be proved that the Property Trustee was negligent
     in ascertaining the pertinent facts;

               (iii) the Property Trustee shall not be liable with respect to
     any action taken or omitted to be taken by it in good faith in accordance
     with the direction of the Holders of at least a Majority in Liquidation
     Amount of the Capital Securities relating to the time, method and place of
     conducting any proceeding for any remedy available to the Property Trustee,
     or exercising any trust or power conferred upon the Property Trustee under
     this Trust Agreement;

               (iv) the Property Trustee's sole duty with respect to the
     custody, safe keeping and physical preservation of the Junior Subordinated
     Debentures and the Payment

                                       40

<PAGE>

     Account shall be to deal with such property in a similar manner as the
     Property Trustee deals with similar property for its own account, subject
     to the protections and limitations on liability afforded to the Property
     Trustee under this Trust Agreement and the Trust Indenture Act;

               (v) the Property Trustee shall not be liable for any interest on
     any money received by it except as it may otherwise agree with the
     Depositor; and money held by the Property Trustee need not be segregated
     from other funds held by it except in relation to the Payment Account
     maintained by the Property Trustee pursuant to Section 3.1 and except to
     the extent otherwise required by law;

               (vi) the Property Trustee shall not be responsible for monitoring
     the compliance by the Administrators or the Depositor with their respective
     duties under this Trust Agreement, nor shall the Property Trustee be liable
     for the default or misconduct of any other Issuer Trustee, the
     Administrators or the Depositor; and

               (vii) no provision of this Trust Agreement shall require the
     Property Trustee to expend or risk its own funds or otherwise incur
     personal financial liability in the performance of any of its duties or in
     the exercise of any of its rights or powers, if the Property Trustee shall
     have reasonable grounds for believing that the repayment of such funds or
     liability is not reasonably assured to it under the terms of this Trust
     Agreement or adequate indemnity against such risk or liability is not
     reasonably assured to it.

          (e) The Administrators shall not be responsible for monitoring the
compliance by the Issuer Trustees or the Depositor with their respective duties
under this Trust Agreement, nor shall any Administrator be liable for the
default or misconduct of any other Administrator, the Issuer Trustees or the
Depositor.

          SECTION 8.2. Certain Notices.

          (a) Within five Business Days after the occurrence of any Event of
Default actually known to a Responsible Officer of the Property Trustee, the
Property Trustee shall transmit, in the manner and to the extent provided in
Section 10.8, notice of such Event of Default to the Holders and the
Administrators, unless such Event of Default shall have been cured or waived.

          (b) Within five Business Days after the receipt of notice of the
Depositor's exercise of its right to defer the payment of interest on the Junior
Subordinated Debentures pursuant to the Indenture, the Property Trustee shall
transmit, in the manner and to the extent provided in Section 10.8, notice of
such exercise to the Holders and the Administrators, unless such exercise shall
have been revoked.

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<PAGE>

          SECTION 8.3. Certain Rights of Property Trustee.

          Subject to the provisions of Section 8.1:

          (a) the Property Trustee may conclusively rely and shall be fully
protected in acting or refraining from acting in good faith upon any resolution,
Opinion of Counsel, certificate, written representation of a Holder or
transferee, certificate of auditors or any other certificate, statement,
instrument, opinion, report, notice, request, consent, order, appraisal, bond,
debenture, note, other evidence of indebtedness or other paper or document
believed by it to be genuine and to have been signed or presented by the proper
party or parties;

          (b) any direction or act of the Depositor contemplated by this Trust
Agreement shall be sufficiently evidenced by an Officers' Certificate;

          (c) the Property Trustee shall have no duty to see to any recording,
filing or registration of any instrument (including any financing or
continuation statement or any filing under tax or securities laws) or any
re-recording, refiling or re-registration thereof;

          (d) the Property Trustee may consult with counsel of its own choosing
(which counsel may be counsel to the Depositor or any of its Affiliates, and may
include any of its employees) and the advice of such counsel shall be full and
complete authorization and protection in respect of any action taken suffered or
omitted by it hereunder in good faith and in reliance thereon and in accordance
with such advice; the Property Trustee shall have the right at any time to seek
instructions concerning the administration of this Trust Agreement from any
court of competent jurisdiction;

          (e) the Property Trustee shall be under no obligation to exercise any
of the rights or powers vested in it by this Trust Agreement at the request or
direction of any of the Holders pursuant to this Trust Agreement, unless such
Holders shall have offered to the Property Trustee security or indemnity
satisfactory to it against the costs, expenses and liabilities which might be
incurred by it in compliance with such request or direction; provided that
nothing contained in this Section 8.3(e) shall be taken to relieve the Property
Trustee, upon the occurrence of an Event of Default, of its obligation to
exercise the rights and powers vested in it by this Trust Agreement;

          (f) the Property Trustee shall not be bound to make any investigation
into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, approval, bond,
debenture, note or other evidence of indebtedness or other paper or document,
unless requested in writing to do so by one or more Holders, but the Property
Trustee may make such further inquiry or investigation into such facts or
matters as it may see fit;

          (g) the Property Trustee may execute any of the trusts or powers
hereunder or perform any of its duties hereunder either directly or by or
through its agents or attorneys, provided that the Property Trustee shall not be
responsible for any misconduct or negligence on the part of any agent or
attorney appointed with due care by it hereunder;

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<PAGE>

          (h) whenever in the administration of this Trust Agreement the
Property Trustee shall deem it desirable to receive instructions with respect to
enforcing any remedy or right or taking any other action hereunder, the Property
Trustee (i) may request instructions from the Holders (which instructions may
only be given by the Holders of the same proportion in Liquidation Amount of the
Trust Securities as would be entitled to direct the Property Trustee under the
terms of the Trust Securities in respect of such remedy, right or action), (ii)
may refrain from enforcing such remedy or right or taking such other action
until such instructions are received, and (iii) shall be fully protected in
acting in accordance with such instructions; and

          (i) except as otherwise expressly provided by this Trust Agreement,
the Property Trustee shall not be under any obligation to take any action that
is discretionary under the provisions of this Trust Agreement.

          No provision of this Trust Agreement shall be deemed to impose any
duty or obligation on any Issuer Trustee or Administrator to perform any act or
acts or exercise any right, power, duty or obligation conferred or imposed on
it, in any jurisdiction in which it shall be illegal, or in which the Property
Trustee shall be unqualified or incompetent in accordance with applicable law,
to perform any such act or acts, or to exercise any such right, power, duty or
obligation. No permissive power or authority available to any Issuer Trustee or
Administrator shall be construed to be a duty.

          SECTION 8.4. Not Responsible for Recitals or Issuance of Securities.

          The recitals contained herein and in the Trust Securities Certificates
shall be taken as the statements of the Issuer Trust, and the Issuer Trustees
and the Administrators do not assume any responsibility for their correctness.
The Issuer Trustees and the Administrators shall not be accountable for the use
or application by the Depositor of the proceeds of the Junior Subordinated
Debentures.

          SECTION 8.5. May Hold Securities.

          The Depositor, the Administrators, any Issuer Trustee or any other
agent of any Issuer Trustee or the Issuer Trust, in its individual or any other
capacity, may become the owner or pledgee of Trust Securities and, subject to
Sections 5.5(c), 8.8 and 8.13 and except as provided in the definition of the
term "Outstanding" in Article I, may otherwise deal with the Issuer Trust with
the same rights it would have if it were not the Depositor, an Administrator,
Issuer Trustee or such other agent.

          SECTION 8.6. Compensation; Indemnity; Fees.

          The Depositor agrees:

          (a) to pay to the Issuer Trustees from time to time reasonable
compensation for all services rendered by them hereunder (which compensation
shall not be limited by any provision of law in regard to the compensation of a
trustee of an express trust);

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<PAGE>

          (b) to reimburse the Issuer Trustees upon request for all reasonable
expenses, disbursements and advances incurred or made by the Issuer Trustees in
accordance with any provision of this Trust Agreement (including the reasonable
compensation, expenses and disbursements of its agents and counsel), except any
such expense, disbursement or advance as may be attributable to their negligence
or willful misconduct; and

          (c) to the fullest extent permitted by applicable law, to indemnify
and hold harmless (i) each Issuer Trustee, (ii) each Administrator, (iii) any
Affiliate of any Issuer Trustee, (iv) any officer, director, shareholder,
employee, representative or agent of any Issuer Trustee, and (v) any employee or
agent of the Issuer Trust, (referred to herein as an "Indemnified Person") from
                                                      ------------------
and against any loss, damage, liability, tax, penalty, expense or claim of any
kind or nature whatsoever incurred by such Indemnified Person arising out of or
in connection with the creation, operation or dissolution of the Issuer Trust or
any act or omission performed or omitted by such Indemnified Person in good
faith on behalf of the Issuer Trust and in a manner such Indemnified Person
reasonably believed to be within the scope of authority conferred on such
Indemnified Person by this Trust Agreement, except that no Indemnified Person
shall be entitled to be indemnified in respect of any loss, damage or claim
incurred by such Indemnified Person by reason of negligence or willful
misconduct with respect to such acts or omissions.

          The provisions of this Section 8.6 shall survive the termination of
this Trust Agreement and the resignation or removal of the Indemnified Persons.

          The obligation of the Depositor under this Section 8.6 to compensate,
reimburse and indemnify the Issuer Trustees shall be secured by a Lien upon all
Trust Property (except funds held in trust for the benefit of Holders of
particular Trust Securities), but only to the extent of the interest of the
Holder of the Common Securities therein.

          The Depositor, any Administrator and any Issuer Trustee may engage in
or possess an interest in other business ventures of any nature or description,
independently or with others, similar or dissimilar to the business of the
Issuer Trust, and the Issuer Trust and the Holders of Trust Securities shall
have no rights by virtue of this Trust Agreement in and to such independent
ventures or the income or profits derived therefrom, and the pursuit of any such
venture, even if competitive with the business of the Issuer Trust, shall not be
deemed wrongful or improper. Neither the Depositor, any Administrator, nor any
Issuer Trustee shall be obligated to present any particular investment or other
opportunity to the Issuer Trust even if such opportunity is of a character that,
if presented to the Issuer Trust, could be taken by the Issuer Trust, and the
Depositor, any Administrator or any Issuer Trustee shall have the right to take
for its own account (individually or as a partner or fiduciary) or to recommend
to others any such particular investment or other opportunity. Any Issuer
Trustee may engage or be interested in any financial or other transaction with
the Depositor or any Affiliate of the Depositor, or may act as depository for,
trustee or agent for, or act on any committee or body of holders of, securities
or other obligations of the Depositor or its Affiliates.

                                       44

<PAGE>

          SECTION 8.7. Corporate Property Trustee Required; Eligibility of
Trustees and Administrators.

          (a) There shall at all times be a Property Trustee hereunder with
respect to the Trust Securities. The Property Trustee shall be a Person that is
a national or state chartered bank and eligible pursuant to the Trust Indenture
Act to act as such and has a combined capital and surplus of at least
$50,000,000.00 If any such Person publishes reports of condition at least
annually, pursuant to law or to the requirements of its supervising or examining
authority, then for the purposes of this Section, the combined capital and
surplus of such Person shall be deemed to be its combined capital and surplus as
set forth in its most recent report of condition so published. If at any time
the Property Trustee with respect to the Trust Securities shall cease to be
eligible in accordance with the provisions of this Section, it shall resign
immediately in the manner and with the effect hereinafter specified in this
Article VIII. At the time of appointment, the Property Trustee must have
securities rated in one of the three highest rating categories by a nationally
recognized statistical rating organization.

          (b) There shall at all times be one or more Administrators hereunder.
Each Administrator shall be either a natural person who is at least 21 years of
age or a legal entity that shall act through one or more persons authorized to
bind that entity. An employee, officer or Affiliate of the Depositor may serve
as an Administrator.

          (c) There shall at all times be a Delaware Trustee. The Delaware
Trustee shall either be (i) a natural person who is at least 21 years of age and
a resident of the State of Delaware or (ii) a legal entity with its principal
place of business in the State of Delaware and that otherwise meets the
requirements of applicable Delaware law that shall act through one or more
persons authorized to bind such entity.

          SECTION 8.8. Conflicting Interests.

          (a) If the Property Trustee has or shall acquire a conflicting
interest within the meaning of the Trust Indenture Act, the Property Trustee
shall either eliminate such interest or resign, to the extent and in the manner
provided by, and subject to the provisions of, the Trust Indenture Act and this
Trust Agreement.

          (b) The Guarantee and the Indenture shall be deemed to be sufficiently
described in this Trust Agreement for the purposes of clause (i) of the first
proviso contained in Section 310(b) of the Trust Indenture Act.

          SECTION 8.9. Co-Trustees and Separate Trustee.

          Unless an Event of Default shall have occurred and be continuing, at
any time or times, for the purpose of meeting the legal requirements of the
Trust Indenture Act or of any jurisdiction in which any part of the Trust
Property may at the time be located, the Property Trustee shall have power to
appoint, and upon the written request of the Property Trustee, the Depositor and
the

                                       45

<PAGE>

Administrators shall for such purpose join with the Property Trustee in the
execution, delivery, and performance of all instruments and agreements necessary
or proper to appoint, one or more Persons approved by the Property Trustee
either to act as co-trustee, jointly with the Property Trustee, of all or any
part of such Trust Property, or to the extent required by law to act as separate
trustee of any such property, in either case with such powers as may be provided
in the instrument of appointment, and to vest in such Person or Persons in the
capacity aforesaid, any property, title, right or power deemed necessary or
desirable, subject to the other provisions of this Section. Any co-trustee or
separate trustee appointed pursuant to this Section shall either be (i) a
natural person who is at least 21 years of age and a resident of the United
States or (ii) a legal entity with its principal place of business in the United
States that shall act through one or more persons authorized to bind such
entity.

          Should any written instrument from the Depositor be required by any
co-trustee or separate trustee so appointed for more fully confirming to such
co-trustee or separate trustee such property, title, right, or power, any and
all such instruments shall, on request, be executed, acknowledged and delivered
by the Depositor.

          Every co-trustee or separate trustee shall, to the extent permitted by
law, but to such extent only, be appointed subject to the following terms,
namely:

          (a) The Trust Securities shall be executed by one or more
Administrators, and the Trust Securities shall be authenticated and delivered by
the Property Trustee and all rights, powers, duties, and obligations hereunder
in respect of the custody of securities, cash and other personal property held
by, or required to be deposited or pledged with, the Property Trustee specified
hereunder, shall be exercised, solely by the Property Trustee and not by such
co-trustee or separate trustee.

          (b) The rights, powers, duties, and obligations hereby conferred or
imposed upon the Property Trustee in respect of any property covered by such
appointment shall be conferred or imposed upon and exercised or performed by the
Property Trustee and such co-trustee or separate trustee jointly, as shall be
provided in the instrument appointing such co-trustee or separate trustee,
except to the extent that under any law of any jurisdiction in which any
particular act is to be performed, the Property Trustee shall be incompetent or
unqualified to perform such act, in which event such rights, powers, duties and
obligations shall be exercised and performed by such co-trustee or separate
trustee.

          (c) The Property Trustee at any time, by an instrument in writing
executed by it, with the written concurrence of the Depositor, may accept the
resignation of or remove any co-trustee or separate trustee appointed under this
Section, and, in case a Debenture Event of Default has occurred and is
continuing, the Property Trustee shall have power to accept the resignation of,
or remove, any such co-trustee or separate trustee without the concurrence of
the Depositor. Upon the written request of the Property Trustee, the Depositor
shall join with the Property Trustee in the execution, delivery and performance
of all instruments and agreements necessary or proper to effectuate such
resignation or removal. A successor to any co-trustee or separate trustee so
resigned or removed may be appointed in the manner provided in this Section 8.9.

                                       46

<PAGE>

          (d) No co-trustee or separate trustee hereunder shall be personally
liable by reason of any act or omission of the Property Trustee or any other
trustee hereunder.

          (e) The Property Trustee shall not be liable by reason of any act of a
co-trustee or separate trustee.

          (f) Any Act of Holders delivered to the Property Trustee shall be
deemed to have been delivered to each such co-trustee and separate trustee.

          SECTION 8.10. Resignation and Removal; Appointment of Successor.

          No resignation or removal of any Issuer Trustee (the "Relevant
                                                                --------
Trustee") and no appointment of a successor trustee pursuant to this Article
-------
shall become effective until the acceptance of appointment by the successor
trustee in accordance with the applicable requirements of Section 8.11.

          Subject to the immediately preceding paragraph, a Relevant Trustee may
resign at any time by giving written notice thereof to the Holders. The Holder
of the Common Securities shall appoint a successor by requesting from at least
three Persons meeting the eligibility requirements its expenses and charges to
serve as the successor trustee on a form provided by the Administrators, and
selecting the Person who agrees to the lowest expenses and charges. If the
instrument of acceptance by the successor trustee required by Section 8.11 shall
not have been delivered to the Relevant Trustee within 60 days after the giving
of such notice of resignation, the Relevant Trustee may petition, at the expense
of the Issuer Trust, any court of the State of Delaware for the appointment of a
successor Relevant Trustee.

          The Property Trustee or the Delaware Trustee may be removed at any
time (i) for cause (including upon the occurrence of an Event of Default
described in subparagraph (5) of the definition thereof with respect to the
Relevant Trustee) by the Holder of the Common Securities, or (ii) if a Debenture
Event of Default shall have occurred and be continuing at any time, by Act of
the Holders of at least a Majority in Liquidation Amount of the Capital
Securities, delivered to the Relevant Trustee (in its individual capacity and on
behalf of the Issuer Trust).

          If a Relevant Trustee shall be removed or become incapable of acting
as Issuer Trustee, or if any vacancy shall occur in the office of any Issuer
Trustee for any cause, the Holder of the Common Securities shall promptly
appoint a successor Relevant Trustee or Trustees, and such successor Issuer
Trustee shall comply with the applicable requirements of Section 8.11, provided,
however, if a Debenture Event of Default shall have occurred and be continuing
at such time, the Holders of the Capital Securities, by Act of the Holders of
record of not less than 25% in aggregate Liquidation Amount of the Capital
Securities than Outstanding delivered to such Relevant Trustee, shall appoint
such successor trustee. If no successor trustee shall have been so appointed by
the Holder of the Common Securities or the Holders of the Capital Securities, as
applicable, or shall not have accepted appointment in the manner required by
Section 8.11 hereof, any Holder, on behalf of

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<PAGE>

himself and all others similarly situated, or any other Issuer Trustee, may
petition any court in the State of Delaware for the appointment of a successor
trustee.

          The Property Trustee shall give notice of each resignation and each
removal of a Relevant Trustee and each appointment of a successor trustee to all
Holders in the manner provided in Section 10.8 and shall give notice to the
Depositor and to the Administrators. Each notice shall include the name of the
Relevant Trustee and the address of its Corporate Trust Office if it is the
Property Trustee.

          Notwithstanding the foregoing or any other provision of this Trust
Agreement, in the event any Delaware Trustee who is a natural person dies or
becomes, in the opinion of the Holder of the Common Securities, incompetent or
incapacitated, the vacancy created by such death, incompetence or incapacity may
be filled by the Property Trustee following the procedures regarding expenses
and charges set forth above (with the successor in each case being a Person who
satisfies the eligibility requirements for the Delaware Trustee, as the case may
be, set forth in Section 8.7).

          SECTION 8.11. Acceptance of Appointment by Successor.

          In case of the appointment hereunder of a successor Relevant Trustee,
the retiring Relevant Trustee and each such successor Relevant Trustee (if
requested by the Depositor) with respect to the Trust Securities shall execute,
acknowledge and deliver an amendment hereto wherein each successor Relevant
Trustee shall accept such appointment and which (a) shall contain such
provisions as shall be necessary or desirable to transfer and confirm to, and to
vest in, each successor Relevant Trustee all the rights, powers, trusts and
duties of the retiring Relevant Trustee with respect to the Trust Securities and
the Issuer Trust, and (b) shall add to or change any of the provisions of this
Trust Agreement as shall be necessary to provide for or facilitate the
administration of the Issuer Trust by more than one Relevant Trustee, it being
understood that nothing herein or in such amendment shall constitute such
Relevant Trustee a co-trustee, and upon the execution and delivery of such
amendment, the resignation or removal of the retiring Relevant Trustee shall
become effective to the extent provided therein and each such successor Relevant
Trustee, without any further act, deed or conveyance, shall become vested with
all the rights, powers, trusts and duties of the retiring Relevant Trustee; but,
on request of the Issuer Trust or any successor Relevant Trustee such retiring
Relevant Trustee shall duly assign, transfer and deliver to such successor
Relevant Trustee all Trust Property, all proceeds thereof and money held by such
retiring Relevant Trustee hereunder with respect to the Trust Securities and the
Issuer Trust.

          Upon request of any such successor Relevant Trustee, the Issuer Trust
shall execute any and all instruments for more fully and certainly vesting in
and confirming to such successor Relevant Trustee all such rights, powers and
trusts referred to in the preceding paragraph.

          No successor Relevant Trustee shall accept its appointment unless at
the time of such acceptance such successor Relevant Trustee shall be qualified
and eligible under this Article VIII.

          SECTION 8.12. Merger, Conversion, Consolidation or Succession to
Business.

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          Any Person into which the Property Trustee or the Delaware Trustee may
be merged or converted or with which it may be consolidated, or any Person
resulting from any merger, conversion or consolidation to which such Relevant
Trustee shall be a party, or any Person succeeding to all or substantially all
the corporate trust business of such Relevant Trustee, shall be the successor of
such Relevant Trustee hereunder, provided that such Person shall be otherwise
qualified and eligible under this Article VIII, without the execution or filing
of any paper or any further act on the part of any of the parties hereto.

          SECTION 8.13. Preferential Collection of Claims Against Depositor or
Issuer Trust.

          If and when the Property Trustee shall be or become a creditor of the
Depositor (or any other obligor upon the Trust Securities), the Property Trustee
shall be subject to the provisions of the Trust Indenture Act regarding the
collection of claims against the Depositor (or any such other obligor) only if
this Trust Agreement is subject to the Trust Indenture Act.

          SECTION 8.14. Trustee May File Proofs of Claim.

          In case of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other similar judicial
proceeding relative to the Issuer Trust or any other obligor upon the Trust
Securities or the property of the Issuer Trust or of such other obligor, the
Property Trustee (irrespective of whether any Distributions on the Trust
Securities shall then be due and payable and irrespective of whether the
Property Trustee shall have made any demand on the Issuer Trust for the payment
of any past due Distributions) shall be entitled and empowered, to the fullest
extent permitted by law, by intervention in such proceeding or otherwise:

          (a) to file and prove a claim for the whole amount of any
Distributions owing and unpaid in respect of the Trust Securities and to file
such other papers or documents as may be necessary or advisable in order to have
the claims of the Property Trustee (including any claim for the reasonable
compensation, expenses, disbursements and advances of the Property Trustee, its
agents and counsel) and of the Holders allowed in such judicial proceeding; and

          (b) to collect and receive any monies or other property payable or
deliverable on any such claims and to distribute the same; and any custodian,
receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Holder to make such
payments to the Property Trustee and, in the event the Property Trustee shall
consent to the making of such payments directly to the Holders, to pay to the
Property Trustee any amount due it for the reasonable compensation, expenses,
disbursements and advances of the Property Trustee, its agents and counsel, and
any other amounts due the Property Trustee.

          Nothing herein contained shall be deemed to authorize the Property
Trustee to authorize or consent to or accept or adopt on behalf of any Holder
any plan of reorganization, arrangement,

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<PAGE>

adjustment or compensation affecting the Trust Securities or the rights of any
Holder thereof or to authorize the Property Trustee to vote in respect of the
claim of any Holder in any such proceeding.

          SECTION 8.15. Reports by Property Trustee.

          (a) Not later than January 31 of each year commencing with January 31,
2003, the Property Trustee shall transmit to all Holders in accordance with
Section 10.8, and to the Depositor, a brief report dated as of the immediately
preceding December 31 with respect to:

               (i) its eligibility under Section 8.7 or, in lieu thereof, if to
     the best of its knowledge it has continued to be eligible under said
     Section, a written statement to such effect; and

               (ii) any change in the property and funds in its possession as
     Property Trustee since the date of its last report and any action taken by
     the Property Trustee in the performance of its duties hereunder which it
     has not previously reported and which in its opinion materially affects the
     Trust Securities.

          (b) In addition the Property Trustee shall transmit to Holders such
reports concerning the Property Trustee and its actions under this Trust
Agreement as may be required pursuant to the Trust Indenture Act at the times
and in the manner provided pursuant thereto.

          (c) A copy of each such report shall, at the time of such transmission
to Holders, be filed by the Property Trustee with the Depositor.

          SECTION 8.16. Reports to the Property Trustee.

          The Depositor and the Administrators on behalf of the Issuer Trust
shall provide to the Property Trustee such documents, reports and information as
required or specified by Section 314 of the Trust Indenture Act (if any and to
the extent applicable) and the compliance certificate required or specified by
Section 314(a) of the Trust Indenture Act in the form, in the manner and at the
times set forth in Section 314 of the Trust Indenture Act. The Depositor and the
Administrators shall annually file with the Property Trustee a certificate
specifying whether such Person is in compliance with all the terms and covenants
applicable to such Person hereunder.

          SECTION 8.17. Evidence of Compliance with Conditions Precedent.

          Each of the Depositor and the Administrators on behalf of the Issuer
Trust shall provide to the Property Trustee such evidence of compliance with any
conditions precedent, if any, provided for in this Trust Agreement that relate
to any of the matters set forth in Section 314(c) of the Trust Indenture Act.
Any certificate or opinion required to be given by an officer pursuant to
Section 314(c)(1) of the Trust Indenture Act shall be given in the form of an
Officers' Certificate.

          SECTION 8.18. Number of Issuer Trustees.

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<PAGE>

          (a) The number of Issuer Trustees shall be two; provided, however, the
Property Trustee and the Delaware Trustee may be the same Person, in which case,
the number of Issuer Trustees may be one.

          (b) If an Issuer Trustee ceases to hold office for any reason, a
vacancy shall occur. The vacancy shall be filled with an Issuer Trustee
appointed in accordance with Section 8.10.

          (c) The death, resignation, retirement, removal, bankruptcy,
incompetence or incapacity to perform the duties of an Issuer Trustee shall not
operate to dissolve, terminate or annul the Issuer Trust or terminate this Trust
Agreement.

          SECTION 8.19. Delegation of Power.

          (a) Any Administrator may, by power of attorney consistent with
applicable law, delegate to any other natural person over the age of 21 his or
her power for the purpose of executing any documents contemplated in Section
2.7(a) or making any governmental filing; and

          (b) The Administrators shall have power to delegate from time to time
to such of their number the doing of such things and the execution of such
instruments either in the name of the Issuer Trust or the names of the
Administrators or otherwise as the Administrators may deem expedient, to the
extent such delegation is not prohibited by applicable law or contrary to the
provisions of this Trust Agreement.

          SECTION 8.20. Appointment of Administrators.

          (a) The Administrators shall be appointed by the Holder of the Common
Securities and may be removed by the Holder of the Common Securities or may
resign at any time. Upon any resignation or removal, the Holder of the Common
Securities shall appoint a successor Administrator. Each Administrator shall
execute this Trust Agreement thereby agreeing to comply with, and be legally
bound by, all of the terms, conditions and provisions of this Trust Agreement.
If at any time there is no Administrator, the Property Trustee or any Holder who
has been a Holder of Trust Securities for at least six months may petition any
court of competent jurisdiction for the appointment of one or more
Administrators.

          (b) Whenever a vacancy in the number of Administrators shall occur,
until such vacancy is filled by the appointment of an Administrator in
accordance with this Section 8.20, the Administrators in office, regardless of
their number (and notwithstanding any other provision of this Agreement), shall
have all the powers granted to the Administrators and shall discharge all the
duties imposed upon the Administrators by this Trust Agreement.

          (c) Notwithstanding the foregoing, or any other provision of this
Trust Agreement, in the event any Administrator who is a natural person dies or
becomes, in the opinion of the Holder of the Common Securities, incompetent, or
incapacitated, the vacancy created by such

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<PAGE>

death, incompetence or incapacity may be filled by the Holder of the Common
Securities (with the successor being a Person who satisfies the eligibility
requirement for Administrators, as the case may be, set forth in Section 8.7).

          Except as otherwise provided in this Trust Agreement, or by applicable
law, any one Administrator may execute any document or otherwise take any action
which the Administrators are authorized to take under this Trust Agreement.

                                   ARTICLE IX

                       DISSOLUTION, LIQUIDATION AND MERGER

          SECTION 9.1. Dissolution Upon Expiration Date.

          Unless earlier dissolved, the Issuer Trust shall automatically
dissolve on April 1, 2033 (the "Expiration Date"), and thereafter the Trust
                                ---------------
Property shall be distributed in accordance with Section 9.4.

          SECTION 9.2. Early Dissolution.

          The first to occur of any of the following events is an "Early
                                                                   -----
Termination Event," upon the occurrence of which the Issuer Trust shall
------------------
dissolve:

          (a) the occurrence of the appointment of a receiver or other similar
official in any liquidation, insolvency or similar proceeding with respect to
the Depositor or all or substantially all of its property, or entry by a court
or other governmental agency of a decree or order and such decree or order shall
remain unstayed and undischarged for a period of 60 days, unless the Depositor
shall transfer the Common Securities as provided by Section 5.11, in which case
this provision shall refer instead to any such successor Holder of the Common
Securities;

          (b) the written direction to the Property Trustee from the Holder of
the Common Securities at any time to dissolve the Issuer Trust and, after paying
or making reasonable provision to pay all charges and obligations of the Issuer
Trust in accordance with Section 3808(e) of the Delaware Business Trust Act, to
distribute the Junior Subordinated Debentures to Holders in exchange for the
Trust Securities (which direction, subject to Section 9.4(a), is optional and
wholly within the discretion of the Holder of the Common Securities);

          (c) the repayment of all of the Capital Securities in connection with
the repayment at maturity or redemption of all the Junior Subordinated
Debentures; and

          (d) the entry of an order for dissolution of the Issuer Trust by a
court of competent jurisdiction.

          SECTION 9.3. Termination.

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<PAGE>

          As soon as is practicable after the occurrence of an event referred to
in Section 9.1 or 9.2, and upon the completion of the winding-up and liquidation
of the Issuer Trust, the Administrators and the Issuer Trustees (each of whom is
hereby authorized to take such action) shall file a certificate of cancellation
with the Secretary of State of the State of Delaware terminating the Issuer
Trust and, upon such filing, the respective obligations and responsibilities of
the Issuer Trustees, the Administrators and the Issuer Trust created and
continued hereby shall terminate.

          SECTION 9.4. Liquidation.

          (a) If an Early Termination Event specified in clause (a), (b) or (d)
of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be
wound-up and liquidated by the Property Trustee as expeditiously as the Property
Trustee determines to be possible by distributing, after paying or making
reasonable provision to pay all claims and obligations of the Issuer Trust in
accordance with Section 3808(e) of the Delaware Business Trust Act, to each
Holder a Like Amount of Junior Subordinated Debentures, subject to Section
9.4(d). Notice of liquidation shall be given by the Property Trustee by
first-class mail, postage prepaid, mailed not later than 15 nor more than 45
days prior to the Liquidation Date to each Holder of Trust Securities at such
Holder's address appearing in the Securities Register. All notices of
liquidation shall:

               (i) state the Liquidation Date;

               (ii) state that, from and after the Liquidation Date, the Trust
     Securities will no longer be deemed to be Outstanding and any Trust
     Securities Certificates not surrendered for exchange will be deemed to
     represent a Like Amount of Junior Subordinated Debentures; and

               (iii) provide such information with respect to the mechanics by
     which Holders may exchange Trust Securities Certificates for Junior
     Subordinated Debentures, or if Section 9.4(d) applies receive a Liquidation
     Distribution, as the Administrators or the Property Trustee shall deem
     appropriate.

          (b) Except where Section 9.2(c) or 9.4(d) applies, in order to effect
the liquidation of the Issuer Trust and distribution of the Junior Subordinated
Debentures to Holders, the Property Trustee shall establish a record date for
such distribution (which shall be not more than 30 days prior to the Liquidation
Date) and, either itself acting as exchange agent or through the appointment of
a separate exchange agent, shall establish such procedures as it shall deem
appropriate to effect the distribution of Junior Subordinated Debentures in
exchange for the Outstanding Trust Securities Certificates.

          (c) Except where Section 9.2(c) or 9.4(d) applies, after the
Liquidation Date, (i) the Trust Securities will no longer be deemed to be
Outstanding, (ii) the Clearing Agency for the Capital Securities or its nominee,
as the registered Holder of the Global Capital Securities Certificates, shall
receive a registered global certificate or certificates representing the Junior
Subordinated Debentures to be delivered upon such distribution with respect to
Capital Securities

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<PAGE>

held by the Clearing Agency or its nominee, and (iii) any Trust Securities
Certificates not held by the Clearing Agency for the Capital Securities or its
nominee as specified in clause (ii) above will be deemed to represent Junior
Subordinated Debentures having a principal amount equal to the stated
Liquidation Amount of the Trust Securities represented thereby and bearing
accrued and unpaid interest in an amount equal to the accumulated and unpaid
Distributions on such Trust Securities until such certificates are presented to
the Securities Registrar for transfer or reissuance.

          (d) If, notwithstanding the other provisions of this Section 9.4,
whether because of an order for dissolution entered by a court of competent
jurisdiction or otherwise, distribution of the Junior Subordinated Debentures is
not practical, or if any Early Termination Event specified in clause (c) of
Section 9.2 occurs, the Issuer Trust shall be dissolved, and the Trust Property
shall be liquidated, by the Property Trustee in such manner as the Property
Trustee determines. In such event, on the date of the dissolution of the Issuer
Trust, Holders will be entitled to receive out of the assets of the Issuer Trust
available for distribution to Holders, after paying or making reasonable
provision to pay all claims and obligations of the Issuer Trust in accordance
with Section 3808(e) of the Delaware Business Trust Act, an amount equal to the
aggregate of Liquidation Amount per Trust Security plus accumulated and unpaid
Distributions thereon to the date of payment (such amount being the "Liquidation
                                                                     -----------
Distribution"). If, upon any such dissolution, the Liquidation Distribution can
------------
be paid only in part because the Issuer Trust has insufficient assets available
to pay in full the aggregate Liquidation Distribution, then, subject to the next
succeeding sentence, the amounts payable by the Issuer Trust on the Trust
Securities shall be paid on a pro rata basis (based upon Liquidation Amounts).
The Holder of the Common Securities will be entitled to receive Liquidation
Distributions upon any such dissolution, pro rata (determined as aforesaid) with
Holders of Capital Securities, except that, if a Debenture Event of Default in
Sections 5.1(1) or 5.1(2) of the Indenture has occurred and is continuing, the
Capital Securities shall have a priority over the Common Securities as provided
in Section 4.3.

          SECTION 9.5. Mergers, Consolidations, Amalgamations or Replacements of
the Issuer Trust.

          The Issuer Trust may not merge with or into, consolidate, amalgamate,
or be replaced by, or convey, transfer or lease its properties and assets
substantially as an entirety to, any entity, except pursuant to this Section 9.5
or Section 9.4. At the request of the Holder of the Common Securities, and with
the consent of the Holders of at least a Majority in Liquidation Amount of the
Capital Securities, but without the consent of the Issuer Trustees, the Issuer
Trust may merge with or into, consolidate, amalgamate, or be replaced by or
convey, transfer or lease its properties and assets substantially as an entirety
to a trust organized as such under the laws of any state; provided that (i) such
successor entity either (a) expressly assumes all of the obligations of the
Issuer Trust with respect to the Capital Securities or (b) substitutes for the
Capital Securities other securities having substantially the same terms as the
Capital Securities (the "Successor Capital Securities") so long as the Successor
                         ----------------------------
Capital Securities have the same priority as the Capital Securities with respect
to distributions and payments upon liquidation, redemption and otherwise, (ii) a
trustee of such successor entity possessing the same powers and duties as the
Property Trustee is appointed to hold the Junior Subordinated Debentures, (iii)
such merger, consolidation, amalgamation, replacement, conveyance, transfer or
lease does not cause the Capital Securities (including any Successor Capital

                                       54

<PAGE>

Securities) to be downgraded by any nationally recognized statistical rating
organization, if such Capital Securities have been rated by such nationally
recognized statistical rating organization, (iv) such merger, consolidation,
amalgamation, replacement, conveyance, transfer or lease does not adversely
affect the rights, preferences and privileges of the holders of the Capital
Securities (including any Successor Capital Securities) in any material respect,
(v) such successor entity has a purpose substantially identical to that of the
Issuer Trust, (vi) prior to such merger, consolidation, amalgamation,
replacement, conveyance, transfer or lease, the Issuer Trust has received an
Opinion of Counsel from a firm experienced in such matters to the effect that
(a) such merger, consolidation, amalgamation, replacement, conveyance, transfer
or lease does not adversely affect the rights preferences and privileges of the
holders of the Capital Securities (including any Successor Capital Securities)
in any material respect, and (b) following such merger, consolidation,
amalgamation, replacement, conveyance, transfer or lease, neither the Issuer
Trust nor such successor entity will be required to register as an "investment
company" under the Investment Company Act and (vii) the Depositor or any
permitted transferee to whom it has transferred the Common Securities hereunder
owns all of the common securities of such successor entity and guarantees the
obligations of such successor entity under the Capital Securities or Successor
Capital Securities at least to the extent provided by the Guarantee.
Notwithstanding the foregoing, the Issuer Trust shall not, except with the
consent of Holders of 100% in Liquidation Amount of the Capital Securities,
consolidate, amalgamate, merge with or into, or be replaced by or convey,
transfer or lease its properties and assets substantially as an entirety to, any
other entity or permit any other entity to consolidate, amalgamate, merge with
or into, or replace it if such consolidation, amalgamation, merger, replacement,
conveyance, transfer or lease would cause the Issuer Trust or the successor
entity to be taxable other than as a grantor trust for United States Federal
income tax purposes.

                                    ARTICLE X

                            MISCELLANEOUS PROVISIONS

          SECTION 10.1. Limitation of Rights of Holders.

          Except as set forth in Section 9.2, the bankruptcy, dissolution,
termination, death or incapacity of any Person having an interest, beneficial or
otherwise, in Trust Securities shall not operate to terminate this Trust
Agreement, nor entitle the legal or personal representatives or heirs of such
Person or any Holder for such Person, to claim an accounting, take any action or
bring any proceeding in any court for a partition or winding-up of the
arrangements contemplated hereby, nor otherwise affect the rights, obligations
and liabilities of the parties hereto or any of them. Any merger or similar
agreement shall be executed by the Administrators on behalf of the Issuer Trust.

          SECTION 10.2. Amendment.

          (a) This Trust Agreement may be amended from time to time by the
Holder of the Common Securities, without the consent of any Holder of the
Capital Securities (i) to cure any ambiguity, correct or supplement any
provision herein which may be inconsistent with any other provision herein, or
to make any other provisions with respect to matters or questions arising under

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<PAGE>

this Trust Agreement, provided, however, such amendment shall not adversely
affect in any material respect the interests of any Holder or (ii) to modify,
eliminate or add to any provisions of this Trust Agreement to such extent as
shall be necessary to ensure that the Issuer Trust will not be taxable other
than as a grantor trust for United States Federal income tax purposes at any
time that any Trust Securities are Outstanding or to ensure that the Issuer
Trust will not be required to register as an investment company under the
Investment Company Act.

          (b) Except as provided in Section 10.2(c) hereof, any provision of
this Trust Agreement may be amended by the Holder of the Common Securities with
(i) the consent of Holders of at least a Majority in Liquidation Amount of the
Capital Securities and (ii) receipt by the Issuer Trustees of an Opinion of
Counsel to the effect that such amendment or the exercise of any power granted
to the Issuer Trustees in accordance with such amendment will not affect the
Issuer Trust's being taxable as a grantor trust for United States Federal income
tax purposes or the Issuer Trust's exemption from status of an "investment
company" under the Investment Company Act.

          (c) In addition to and notwithstanding any other provision in this
Trust Agreement, without the consent of each affected Holder , this Trust
Agreement may not be amended to (i) change the amount or timing of any
Distribution on the Trust Securities or otherwise adversely affect the amount of
any Distribution required to be made in respect of the Trust Securities as of a
specified date or (ii) restrict the right of a Holder to institute suit for the
enforcement of any such payment on or after such date.

          (d) Notwithstanding any other provisions of this Trust Agreement, no
Issuer Trustee shall enter into or consent to any amendment to this Trust
Agreement which would cause the Issuer Trust to fail or cease to qualify for the
exemption from status as an "investment company" under the Investment Company
Act or be taxable other than as a grantor trust for United States Federal income
tax purposes.

          (e) Notwithstanding anything in this Trust Agreement to the contrary,
without the consent of the Depositor and the Administrators, this Trust
Agreement may not be amended in a manner which imposes any additional obligation
on the Depositor or the Administrators.

          (f) In the event that any amendment to this Trust Agreement is made,
the Administrators or the Property Trustee shall promptly provide to the
Depositor a copy of such amendment.

          (g) No amendment to this Trust Agreement may be adopted that adversely
affects the Property Trustee's or the Delaware Trustee's rights, duties or
immunities under this Trust Agreement, except with the consent of such Property
Trustee or Delaware Trustee. The Property Trustee shall be entitled to receive
an Opinion of Counsel and an Officers' Certificate stating that any amendment to
this Trust Agreement is in compliance with this Trust Agreement.

          (h) Any amendments to this Trust Agreement made pursuant to Section
10.2(a) shall become effective when notice of such amendment is given to the
Holders of the Trust Securities.

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<PAGE>

          SECTION 10.3. Separability.

          In case any provision in this Trust Agreement or in the Trust
Securities Certificates shall be determined to be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.

          SECTION 10.4. Governing Law.

          THIS TRUST AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF EACH OF THE
HOLDERS, THE ISSUER TRUST, THE DEPOSITOR, THE ISSUER TRUSTEES AND THE
ADMINISTRATORS SHALL BE GOVERNED BY AND INTERPRETED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF DELAWARE AND ALL RIGHTS AND REMEDIES SHALL BE GOVERNED BY SUCH
LAWS WITHOUT REGARD TO THE PRINCIPLES OF CONFLICT OF LAWS OF THE STATE OF
DELAWARE OR ANY OTHER JURISDICTION THAT WOULD CALL FOR THE APPLICATION OF THE
LAW OF ANY JURISDICTION OTHER THAN THE STATE OF DELAWARE; PROVIDED, HOWEVER,
THAT THERE SHALL NOT BE APPLICABLE TO THE HOLDERS, THE ISSUER TRUST, THE
DEPOSITOR, THE ISSUER TRUSTEES, THE ADMINISTRATORS OR THIS TRUST AGREEMENT ANY
PROVISION OF THE LAWS (STATUTORY OR COMMON) OF THE STATE OF DELAWARE PERTAINING
TO TRUSTS OTHER THAN THE DELAWARE BUSINESS TRUST ACT THAT RELATE TO OR REGULATE,
IN A MANNER INCONSISTENT WITH THE TERMS HEREOF (A) THE FILING WITH ANY COURT OR
GOVERNMENTAL BODY OR AGENCY OF TRUSTEE ACCOUNTS OR SCHEDULES OF TRUSTEE FEES AND
CHARGES, (B) AFFIRMATIVE REQUIREMENTS TO POST BONDS FOR TRUSTEES, OFFICERS,
AGENTS OR EMPLOYEES OF A TRUST, (C) THE NECESSITY FOR OBTAINING COURT OR OTHER
GOVERNMENTAL APPROVAL CONCERNING THE ACQUISITION, HOLDING OR DISPOSITION OF REAL
OR PERSONAL PROPERTY, (D) FEES OR OTHER SUMS PAYABLE TO TRUSTEES, OFFICERS,
AGENTS OR EMPLOYEES OF A TRUST, (E) THE ALLOCATION OF RECEIPTS AND EXPENDITURES
TO INCOME OR PRINCIPAL, (F) RESTRICTIONS OR LIMITATIONS ON THE PERMISSIBLE
NATURE, AMOUNT OR CONCENTRATION OF TRUST INVESTMENTS OR REQUIREMENTS RELATING TO
THE TITLING, STORAGE OR OTHER MANNER OF HOLDING OR INVESTING TRUST ASSETS OR (G)
THE ESTABLISHMENT OF FIDUCIARY OR OTHER STANDARDS OF RESPONSIBILITY OR
LIMITATIONS ON THE ACTS OR POWERS OF TRUSTEES THAT ARE INCONSISTENT WITH THE
LIMITATIONS OR LIABILITIES OR AUTHORITIES AND POWERS OF THE ISSUER TRUSTEES OR
THE ADMINISTRATOR AS SET FORTH OR REFERENCED IN THIS TRUST AGREEMENT. SECTION
3540 OF TITLE 12 OF THE DELAWARE CODE SHALL NOT APPLY TO THE ISSUER TRUST.

          SECTION 10.5. Payments Due on Non-Business Day.

          If the date fixed for any payment on any Trust Security shall be a day
that is not a Business Day, then such payment need not be made on such date but
may be made on the next

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<PAGE>

succeeding day that is a Business Day except that, if such Business Day is in
the next succeeding calendar year, such payment shall be made on the immediately
preceding Business Day, in each case, with the same force and effect as though
made on the date fixed for such payment, and no Distributions or interest shall
accumulate on such unpaid amount for the period after such date.

          SECTION 10.6. Successors.

          This Trust Agreement shall be binding upon and shall inure to the
benefit of any successor to the Depositor, the Issuer Trust, the Administrators
and any Issuer Trustee, including any successor by operation of law. Except in
connection with a consolidation, merger or sale involving the Depositor that is
permitted under Article VIII of the Indenture and pursuant to which the assignee
agrees in writing to perform the Depositor's obligations hereunder, the
Depositor shall not assign its obligations hereunder.

          SECTION 10.7. Headings.

          The Article and Section headings are for convenience only and shall
not affect the construction of this Trust Agreement.

          SECTION 10.8. Reports, Notices and Demands.

          Any report, notice, demand or other communication that by any
provision of this Trust Agreement is required or permitted to be given or served
to or upon any Holder or the Depositor may be given or served in writing by
deposit thereof, first class postage prepaid, in the United States mail, hand
delivery or facsimile transmission, in each case, addressed, (a) in the case of
a Holder of Capital Securities, to such Holder as such Holder's name and address
may appear on the Securities Register; and (b) in the case of the Holder of
Common Securities or the Depositor, to CCF Holding Company, 101 North Main
Street, Jonesboro, Georgia 30236-3294, Attention: Leonard A. Moreland, facsimile
no.: (770) 478-7597, or to such other address as may be specified in a written
notice by the Depositor to the Property Trustee. Such notice, demand or other
communication to or upon a Holder shall be deemed to have been sufficiently
given or made, for all purposes, upon hand delivery, mailing or transmission.
Such notice, demand or other communication to or upon the Depositor shall be
deemed to have been sufficiently given or made only upon actual receipt of the
writing by the Depositor.

          Any notice, demand or other communication which by any provision of
this Trust Agreement is required or permitted to be given or served to or upon
the Issuer Trust, the Property Trustee, the Delaware Trustee, the
Administrators, or the Issuer Trust shall be given in writing addressed (until
another address is published by the Issuer Trust) as follows: (a) with respect
to the Property Trustee to Wilmington Trust Company, 1100 North Market Street,
Wilmington, Delaware 19890-0001, Attention: Corporate Trust Administration; (b)
with respect to the Delaware Trustee to 1100 North Market Street, Wilmington,
Delaware 19890-0001, Attention: Corporate Trust Administration; and (c) with
respect to the Administrators, to them at the address above for notices to the
Depositor, marked "Attention: CCF Capital Trust I Administrators." Such notice,
demand or other communication to or upon the Issuer Trust or the Property
Trustee shall be deemed to have

                                       58

<PAGE>

been sufficiently given or made only upon actual receipt of the writing by the
Issuer Trust, the Property Trustee, or such Administrator.

          SECTION 10.9. Agreement Not to Petition.

          Each of the Issuer Trustees, the Administrators and the Depositor
agree for the benefit of the Holders that, until at least one year and one day
after the Issuer Trust has been terminated in accordance with Article IX, they
shall not file, or join in the filing of, a petition against the Issuer Trust
under any bankruptcy, insolvency, reorganization or other similar law
(including, without limitation, the United States Bankruptcy Code)
(collectively, "Bankruptcy Laws") or otherwise join in the commencement of any
                ---------------
proceeding against the Issuer Trust under any Bankruptcy Law. In the event the
Depositor takes action in violation of this Section 10.9, the Property Trustee
agrees, for the benefit of Holders, that at the expense of the Depositor, it
shall file an answer with the bankruptcy court or other court or otherwise
properly contest the filing of such petition by the Depositor against the Issuer
Trust or the commencement of such action and raise the defense that the
Depositor has agreed in writing not to take such action and should be estopped
and precluded therefrom and such other defenses, if any, as counsel for the
Issuer Trustee or the Issuer Trust may assert. If any Issuer Trustee or
Administrator takes action in violation of this Section 10.9, the Depositor
agrees, for the benefit of the Holders, that at the expense of the Depositor, it
shall file an answer with the bankruptcy court or otherwise properly contest the
filing of such petition by such Person against the Depositor or the commencement
of such action and raise the defense that such Person has agreed in writing not
to take such action and should be estopped and precluded therefrom and such
other defenses, if any, as counsel for the Issuer Trustee or the Issuer Trust
may assert. The provisions of this Section 10.9 shall survive the termination of
this Trust Agreement.

          SECTION 10.10. Trust Indenture Act; Conflict with Trust Indenture Act.

          (a) Trust Indenture Act; Application. (i) This Trust Agreement is
subject to the provisions of the Trust Indenture Act that are required to be a
part of this Trust Agreement and shall, to the extent applicable, be governed by
such provisions; (ii) if and to the extent that any provision of this Trust
Agreement limits, qualifies or conflicts with the duties imposed by Sections 310
to 317, inclusive, of the Trust Indenture Act, such imposed duties shall
control; (iii) for purposes of this Trust Agreement, the Property Trustee, to
the extent permitted by applicable law and/or the rules and regulations of the
Commission, shall be the only Issuer Trustee which is a trustee for the purposes
of the Trust Indenture Act; and (iv) the application of the Trust Indenture Act
to this Trust Agreement shall not affect the nature of the Capital Securities
and the Common Securities as equity securities representing undivided beneficial
interests in the assets of the Issuer Trust.

          (b) Lists of Holders of Capital Securities. (i) Each of the Depositor
and the Administrators on behalf of the Trust shall provide the Property Trustee
with such information as is required under Section 312(a) of the Trust Indenture
Act at the times and in the manner provided in Section 312(a) and (ii) the
Property Trustee shall comply with its obligations under Sections 310(b), 311
and 312(b) of the Trust Indenture Act.

                                       59

<PAGE>

          (c) Reports by the Property Trustee. Within 60 days after January 31
of each year commencing January 31, 2003, the Property Trustee shall provide to
the Holders of the Trust Securities such reports as are required by Section 313
of the Trust Indenture Act, if any, in the form, in the manner and at the times
provided by Section 313 of the Trust Indenture Act. The Property Trustee shall
also comply with the requirements of Section 313(d) of the Trust Indenture Act.

          (d) Periodic Reports to Property Trustee. Each of the Depositor and
the Administrators on behalf of the Issuer Trust shall provide to the Property
Trustee, the Commission and the Holders of the Trust Securities, as applicable,
such documents, reports and information as required by Section 315(a)(1) - (3)
(if any) of the Trust Indenture Act and the compliance certificates required by
Section 314(a)(4) and (c) of the Trust Indenture Act (provided that any
certificate to be provided pursuant to Section 314(a)(4) of the Trust Indenture
Act shall be provided within 120 days of the end of each fiscal year of the
Issuer Trust).

          (e) Evidence of Compliance with Conditions Precedent. Each of the
Depositor and the Administrators on behalf of the Issuer Trust shall provide to
the Property Trustee such evidence of compliance with any conditions precedent,
if any, provided for in this Trust Agreement which relate to any of the matters
set forth in Section 314(c) of the Trust Indenture Act. Any certificate or
opinion required to be given pursuant to Section 314(c) shall comply with
Section 314(e) of the Trust Indenture Act.

          (f) Disclosure Information. The disclosure of information as to the
names and addresses of the Holders of Trust Securities in accordance with
Section 312 of the Trust Indenture Act, regardless of the source from which such
information was derived, shall not be deemed to be a violation of any existing
law or any law hereafter enacted which does not specifically refer to Section
312 of the Trust Indenture Act, nor shall the Property Trustee be held
accountable by reason of mailing any material pursuant to a request made under
Section 312(b) of the Trust Indenture Act.

          SECTION 10.11. Acceptance of Terms of Trust Agreement, Guarantee and
Indenture.

          THE RECEIPT AND ACCEPTANCE OF A TRUST SECURITY OR ANY INTEREST THEREIN
BY OR ON BEHALF OF A HOLDER OR ANY BENEFICIAL OWNER, WITHOUT ANY SIGNATURE OR
FURTHER MANIFESTATION OF ASSENT, SHALL CONSTITUTE THE UNCONDITIONAL ACCEPTANCE
BY THE HOLDER AND ALL OTHERS HAVING A BENEFICIAL INTEREST IN SUCH TRUST SECURITY
OF ALL THE TERMS AND PROVISIONS OF THIS TRUST AGREEMENT, THE GUARANTEE AND THE
INDENTURE, AND THE AGREEMENT TO THE SUBORDINATION PROVISIONS AND OTHER TERMS OF
THE GUARANTEE AND THE INDENTURE, AND SHALL CONSTITUTE THE AGREEMENT OF THE
ISSUER TRUST, SUCH HOLDER AND SUCH OTHERS THAT THE TERMS AND PROVISIONS OF THIS
TRUST AGREEMENT SHALL BE BINDING, OPERATIVE AND EFFECTIVE AS BETWEEN THE ISSUER
TRUST AND SUCH HOLDER AND SUCH OTHERS.

                                     * * * *

                                       60

<PAGE>

          This instrument may be executed in any number of counterparts, each of
which so executed shall be deemed to be an original, but all such counterparts
shall together constitute but one and the same instrument.

          IN WITNESS WHEREOF, the parties hereto have caused this Trust
Agreement to be duly executed, all as of the day and year first above written.

                            [Signatures on Next Page]

                                       61

<PAGE>

                                    CCF HOLDING COMPANY,
                                    as Depositor

                                    By:  /s/ Leonard A. Moreland
                                         ---------------------------------------
                                    Name:  Leonard A. Moreland
                                    Title: Executive Vice President

                                    WILMINGTON TRUST COMPANY,
                                    as Property Trustee, and not
                                    in its individual capacity

                                    By:  /s/ Patricia A. Evans
                                         ---------------------------------------
                                    Name:  Patricia A. Evans
                                    Title: Senior Financial Services Officer

                                    WILMINGTON TRUST COMPANY,
                                    as Delaware Trustee, and not
                                    in its individual capacity

                                    By:  /s/ Patricia A. Evans
                                         ---------------------------------------
                                    Name:  Patricia A. Evans
                                    Title: Senior Financial Services Officer

                                    ADMINISTRATORS

                                    /s/ Leonard A. Moreland
                                    --------------------------------------------
                                    Name:  Leonard A. Moreland
                                    Title: Administrator

                                    /s/ Mary Jo Rogers
                                    --------------------------------------------
                                    Name:  Mary Jo Rogers
                                    Title: Administrator

                                    /s/ David B. Turner
                                    --------------------------------------------
                                    Name:  David B. Turner
                                    Title: Administrator

                                       62

<PAGE>

                                    EXHIBIT A

                              CERTIFICATE OF TRUST
                                       OF
                               CCF CAPITAL TRUST I
                               -------------------

     This Certificate of Trust of CCF Capital Trust I (the "Trust"), dated as of
January 7, 2002, is being duly executed and filed by the undersigned, as
trustee, to form a business trust under the Delaware Business Trust Act (12 Del.
                                                                            ----
C. Section 3801, et seq.) (the "Act").
--               -- ---

     1. Name. The name of the business trust formed hereby is "CCF Capital Trust
        ----
I".

     2. Delaware Trustee. The name and business address of the trustee of the
        ----------------
Trust in the State of Delaware are Wilmington Trust Company, 1100 North Market
Street, Wilmington, Delaware 19890-0001, Attn: Corporate Trust Administration.

     3. Effective Date. This Certificate of Trust shall be effective upon filing
        --------------
with the Secretary of State of the State of Delaware.

     IN WITNESS WHEREOF, the undersigned, being the trustee of the Trust, has
duly executed this Certificate of Trust in accordance with Section 3811(a) of
the Act.

                                    WILMINGTON TRUST COMPANY, not in its
                                    individual capacity, but solely as trustee
                                    of the Trust

                                    By: /s/ James P. Lawler
                                       -----------------------------------------
                                    Name:  James P. Lawler
                                    Title: Vice-President

<PAGE>

                                    EXHIBIT B

                        RESTRICTED SECURITIES CERTIFICATE

                    (For transfers pursuant to Section 5.5(b)
                             of the Trust Agreement)

Wilmington Trust Company,
as Security Registrar
1100 North Market Street
Wilmington, Delaware  19890-0001
Attention: Corporate Trust Administration

          Re:  Floating Rate Capital Securities ("Capital Securities") of CCF
                                                  ------------------
               Capital Trust I (the "Trust")
                                     -----

          Reference is made to the Amended and Restated Trust Agreement, dated
as of February 1, 2002 (the "Trust Agreement"), among CCF Holding Company, as
                             ---------------
Depositor, Wilmington Trust Company, as Property Trustee and as Delaware
Trustee, the Administrators named therein, and the Holders (as defined therein)
from time to time. Terms used herein and defined in the Trust Agreement or in
Regulation D, Rule 144A or Rule 144 under the U.S. Securities Act of 1933 (the
"Securities Act") are used herein as so defined.
 --------------

          This certificate relates to $4,000,000 aggregate Liquidation Amount of
Capital Securities, which are evidenced by the following certificate(s) (the
"Specified Securities"):
 --------------------

          CUSIP No(s).
                       -------------------------

          CERTIFICATE No(s).
                             -------------------

          CURRENTLY IN BOOK-ENTRY FORM:    Yes     No (check one)
                                        ---    ----

The person in whose name this certificate is executed below (the "Undersigned")
                                                                  -----------
hereby certifies that either (i) it is the sole beneficial owner of the
Specified Securities or (ii) it is acting on behalf of all the beneficial owners
of the Specified Securities and is duly authorized by them to do so. Such
beneficial owner or owners are referred to herein collectively as the "Owner."
If the Specified Securities are represented by a Global Capital Securities
Certificate, they are held through the Clearing Agency or a Clearing Agency
Participant in the name of the Undersigned, as or on behalf of the Owner. If the
Specified Securities are not represented by a Global Capital Securities
Certificate, they are registered in the name of the Undersigned, as or on behalf
of the Owner.

<PAGE>

          The Owner has requested that the Specified Securities be transferred
to a person (the "Transferee") who will take delivery in the form of a
                  ----------
Restricted Capital Security. In connection with such transfer, the Owner hereby
certifies that, unless such transfer is being effected pursuant to an effective
registration statement under the Securities Act, it is being effected in
accordance with Rule 144A, Rule 904 or Rule 144 under the Securities Act or
other exemption from registration under the Securities Act, and all applicable
securities laws of the states of the United States and other jurisdictions.
Accordingly, the Owner hereby further certifies as follows:

     1. Rule 144A Transfers. If the transfer is being effected in accordance
with Rule 144A:

          (A) the Specified Securities are being transferred to a person that
the Owner and any person acting on its behalf reasonably believe is a "qualified
institutional buyer" within the meaning of Rule 144A, acquiring for its own
account or for the account of a qualified institutional buyer; and

          (B) the Owner and any person acting on its behalf have taken
reasonable steps to ensure that the Transferee is aware that the Owner may be
relying on Rule 144A in connection with the transfer; and

     2. Rule 904 Transfers. If the transfer is being effected in accordance with
Rule 904:

          (A) the Owner is not a distributor of the Capital Securities, an
affiliate of the Depositor or the Trust or any such distributor or a person
acting on behalf of any of the foregoing;

          (B) the offer of the Specified Securities was not made to a person in
the United States;

          (C) either:

               (i)  at the time the buy order was originated, the Transferee was
                    outside the United States or the Owner and any person acting
                    on its behalf reasonably believed that the Transferee was
                    outside the United States, or

               (ii) the transaction is being executed in, on or through the
                    facilities of the Eurobond market, as regulated by the
                    Association of International Bond Dealers, or another
                    designated offshore securities market and neither the Owner
                    nor any person acting on its behalf knows that the
                    transaction has been prearranged with a buyer in the United
                    States;

          (D) no directed selling efforts within the meaning of Rule 902 of
Regulation S have been made in the United States by or on behalf of the Owner or
any affiliate thereof; and

                                       2

<PAGE>

          (E) the transaction is not part of a plan or scheme to evade the
registration requirements of the Securities Act.

     3. Rule 144 Transfers. If the transfer is being effected pursuant to Rule
144:

          (A) the transfer is occurring after a holding period of at least one
year (computed in accordance with paragraph (d) of Rule 144 or such shorter time
as may be provided therein) has elapsed since the date the Specified Securities
were acquired from the Depositor or the Trust or from an affiliate (as such term
is defined in Rule 144) of the Depositor or the Trust, with the full amount of
the purchase price paid at the date of purchase, whichever is later, and is
being effected in accordance with the applicable amount, manner of sale and
notice requirements of paragraphs (c), (e), (f) and (h) of Rule 144; or

          (B) the transfer is occurring after a holding period of at least two
years (or such shorter time as may be provided in Rule 144(k) has elapsed since
the date the Specified Securities were acquired from the Depositor or the Trust
or from an affiliate (as such term is defined in Rule 144) of the Depositor or
the Trust, with the full amount of the purchase price paid at the date of
purchase, whichever is later, and the Owner is not, and during the preceding
three months has not been, an affiliate of the Depositor or the Trust.

     4. Other Transfers. If the Owner seeks to make a transfer in reliance on
any other exemption under the Securities Act, it shall attach hereto a letter
stating the exemption relied upon and the facts under which such exemption is
available for the requested transfer, and shall attach an opinion of counsel
satisfactory to the Depositor stating that such exemption is available and is
being properly used.

          This certificate and the statements contained herein are made for your
benefit and the benefit of the Depositor, the Trust and the Holders.

Dated:
      ----------------                  ----------------------------------------
                                        (Print the name of the  Undersigned,
                                        as such term is defined in the
                                        second paragraph of this certificate.)

                                        By:
                                                 -------------------------------
                                        Name:
                                                 -------------------------------
                                        Title:
                                                 -------------------------------

                                        (If the Undersigned is a corporation,
                                        partnership, fiduciary or entity, the
                                        correct name of the entity, and the name
                                        and title of the person signing on
                                        behalf of the Undersigned must be
                                        stated.)

                                       3

<PAGE>

                                    EXHIBIT C

                      FORM OF COMMON SECURITIES CERTIFICATE

<PAGE>

                                    EXHIBIT D

                     FORM OF CAPITAL SECURITIES CERTIFICATE

<PAGE>

                                    EXHIBIT E

                           FORM OF PLACEMENT AGREEMENT

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