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furnish reports to the Trustees and provide research, economic and statistical clara in connection
<br />with the 4M Fund~;s investments; (iv) act as consultants, accountants, technical advisers, attorneys,
<br />brokers, underwr~mrs, corporate fiduciaries, escrow agents, depositaries, custodians or agents for
<br /> [,
<br />collection, insurers =or insurance agents, registrars for Shares or in an)' other capacity deemed by
<br />the Trustees to be ~necessary or desirable; (v) investigate, select, and, on behalf of the 4M Fund,
<br />conduct relations w}th Persons acting in such capacities and pay appropriate fees to, and enter into
<br />appropriate contracts with, or employ, or retain services performed or to be performed by, any of
<br />them in connectio~ with the investments acquired, sold, or otherwise disposed of, or committed,
<br />negotiated, or contemplated to be acquired, sold or otherwise disposed of; (vi) substitute any other
<br />Person for an)' sucl~ Person, (vii) act as attorney-in-fact of agent in the purchase or sale or other
<br />disposition of inve{tments, and in the handling, prosecuting or other enforcement of an), lien or
<br />security securing irtvestments; and (viii) assist in the performance of such ministerial functions
<br />necessary in the mai~agement of the 4M Fund as ma)' be agreed upon with the Trustees.
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<br /> (b) :The manner of employing, engaging, compensating, transferring, or discharging
<br />any Person as an employee of the 4M Fund shall be subject to Minnesota Law. For purposes of
<br />the preceding senteOce, "employee of the 4M Fund" shall not include independent contractors such
<br />as the Adviser, tho Administrator, the Custodian, counsel or independent accountants and their
<br />respective employees.
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<br /> 2.i7 Insurance. The Trustees shall have full and complete power to purchase and pax.,
<br />for, entirely out of !4M Fund Property, insurance policies insuring the 4M Fund and the Trustees,
<br />officers, employees ind agents of the 4M Fund individually against all claims and liabilities of every
<br />nature arising by regson of holding or having held any such office or position, or by reason of any
<br />action alleged to h~ve been taken or omitted by the 4M Fund or any such Person as Trustee,
<br />officer, employee ahd agent, including any action taken or omitted that may be determined to
<br />constitute negligence, whether or not the 4M Fund would have the power to indemnify such Person
<br />against such liability.
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<br /> 2.18 Seal, The Trustees shall have full and complete power to adopt and use a seal for
<br />the 4M Fund, but, gnless otherwise required by the Trustees, it shall not be necessary for the seal
<br />to be placed on, ant{; its absence shall not impair the validity of, any document, instrument or other
<br />paper executed and ~elivered by or on behalf of the 4M Fund.
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<br /> 2.19 Ind}mnification. In addition to the mandatory indemnification provided for in
<br />Section 5.3 hereof, ~the Trustees shall have full and complete power, to the extent permitted by
<br />applicable Laws, to ~indemnify or enter into agreements with respect to indemnification with any
<br />Person with whom ~the 4M Fund has dealings, including, without limitation, the Adviser, the
<br />Administrator, and the Custodian, to such extent as the Trustees shall determine.
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<br /> 2.20 Ren'/edies. Notwithstanding any provision in this Declaration of Trust, when the
<br />Trustees deem that t~here is a significant risk that an obligor to the 4M Fund may default or is in
<br />default under the terms of any obligation to the 4M Fund, the Trustees shall have full and
<br />complete power to phrsue any remedies permitted by Law which, in their sole judgment, are in the
<br />interests of the 4M ~und, and the Trustees shall have full and complete power to enter into any
<br />investment, commitr~ent or obligation of the 4M Fund resulting from the pursuit of such remedies
<br />as are necessary or d~sirable to dispose of property acquired'in the pursuit of such remedies.
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<br /> 2.21 lnf?rmation Statement. The Trustees shall have full and complete power to
<br />prepare, publish and[ distribute an Information Statement regarding the 4M Fund and to amend or
<br />supplement the same;from time to time.
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