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ARTICLE 4 <br />ON <br />4M Fund Investment Guidelines, Subject to the provisions of this Article 4, the <br />Trustee shall invest and reinvest the assets of each Fund in accordance with <br />the Investment Guidelines of such Fund. The decision of the Trustee as to <br />whether an investment is of a type which may be purchased by a Fund under <br />a Fund's Investment Guidelines shall be conclusive and binding on all <br />persons having an interest in the Fund. in the case of any conflict between <br />the specific terms of the Investment Guidelines, and this Declaration of Trust, <br />the Investment Guidelines shall control, except that no term of the <br />Investment Guidelines may vary any term or condition of this Declaration of <br />Trust that would cause the Trust to fall to qualify as a group trust under <br />Revenue Ruling 81-100. <br />4,02 Temporary Net Cash Overdrafts, The Trustee may, to the extent permitted <br />by law, extend credit to the Trust to cover temporary net cash overdrafts of <br />the Trust, or for other permissible purposes, but shall not otherwise lend <br />money or sell property to, or borrow money or buy property from the Trust <br />or a Fund, nor shall the Trustee have any interest in the Trust or a Fund, <br />other than in its fiduciary capacity. <br />4.03 Ownership of Assets. The ownership of all assets of the Trust and of each <br />Fund shall at all times be considered as vested in the Trustee in its fiduciary <br />capacity. No Participating Trust shall be deemed to have an ownership interest <br />in any asset of any Fund, but each Participating Trust invested in a Fund shall <br />have an undivided beneficial interest in such Fund and shall share <br />proportionately with all other Participating Trusts invested in such Fund in the <br />net income, profits, and losses thereof, to the extent permissible under <br />applicable law and subject to the allocation of certain fees and expenses with <br />respect to the various Classes, if any, of the Fund, <br />4.04 Cash Balances, The Trustee may hold such part of a Fund un-invested as <br />may be reasonably necessary for orderly administration of the Fund, and <br />may deposit cash awaiting investment or distribution in short-term <br />investments which it determines bear a reasonable rate of interest, or in <br />interest-bearing accounts maintained by any bank or savings association, so <br />long as the deposits of such bank or savings association are insured by the <br />Federal Deposit Insurance Corporation up to the applicable limits. <br />4.05 Dealings with the Funds. All persons extending credit to the Trust for a <br />particular Fund, contracting with the Trustee with respect to a Fund, or <br />having any claim of any type related to a Fund hereunder (including, but not <br />D[31/ 86624185.9 <br />