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permitter! by applicable law, the Trustee shall be released and <br />discharged from liability and accountability with respect to the <br />propriety of its acts and transactions disclosed in the report. Any such <br />written objection shall apply only to the proportionate share of the <br />Participating Trust on whose behalf the objection is Filed and shall not <br />affect the proportionate share of any other Participating Trust, The <br />Trustee shall, in any event, have the right to a settlement of its <br />accounts in a judicial proceeding if it so elects. <br />(c) Except as otherwise required by this Declaration of Trust or <br />applicable law, the Trustee shall have no obligation to render an <br />accounting to any Participating Trust or beneficiary thereof. <br />5.08 Judicial Accounting, Except to the extent otherwise provided by applicable <br />law, only the Trustee and any person entitled to a regular periodic <br />accounting under the provisions of any Participating Trust may require the <br />judicial settlement of the Trustee's account, or bring any other action against <br />the Trustee with respect to a Fund or the Trustee's action as Trustee, in any <br />such action or proceeding it shall be necessary to join as parties only the <br />Trustee and such persons, and any judgment or decree which may be entered <br />therein shall be conclusive. <br />DB U Sf)624I8$ 9 .19- <br />