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(vii) act as attorney-in-fact of agent in the purchase or sale or other disposition of investments, <br /> and in the handling, prosecuting or other enforcement of any lien or security securing <br /> investments; and (viii) assist in the performance of such ministerial functions necessary in the <br /> management of the 4M Fund as may be agreed upon with the Trustees. <br /> (b) The manner of employing, engaging, compensating, transferring, or <br /> discharging any Person as an employee of the 4M fund shall be subject to Minnesota Law. For <br /> purposes of the preceding sentence, "employee of the 4M Fund" shall not include independent <br /> contractors such as the Adviser, the Administrator, the Custodian, counsel or independent <br /> accountants and their respective employees. <br /> 2.17 Insurance. The Trustees shall have full and complete power to purchase and pay for, <br /> entirely out of 4M Fund Property, insurance policies insuring the 4M Fund and the Trustees, <br /> officers, employees and agents of the 4M Fund individually against all claims and liabilities of <br /> every nature arising by reason of holding or having held any such office or position, or by <br /> reason of any action alleged to have been taken or omitted by the 4M Fund or any such Person <br /> as Trustee, officer, employee and agent, including any action taken or omitted that may be <br /> determined to constitute negligence, whether or not the 4M Fund would have the power to <br /> indemnify such Person against such liability. <br /> 2.18 Sal. The Trustees shall have full and complete power to adopt and use a seal for <br /> the 4M Fund, but, unless otherwise required by the Trustees, it shall not be necessary for the <br /> seal to be placed on, and its absence shall not impair the validity of, any document, instrument <br /> or other paper executed and delivered by or on behalf of the 4M Fund. <br /> 2.19 Indemnification. In addition to the mandatory indemnification provided for in Section <br /> 5.03 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. <br /> 2.20 Remedies. Notwithstanding any provision in this Declaration of Trust, when the <br /> Trustees deem that there is a significant risk that an obligor to the 4M Fund may default or is <br /> in default under the terms of any obligation to the 4M Fund, the Trustees shall have full and <br /> complete power to pursue any remedies permitted by Law which, in their sole judgment, are in <br /> the interests of the 4M Fund, and the Trustees shall have full and complete power to enter into <br /> any investment, commitment or obligation of the 4M Fund resulting from the pursuit of such <br /> remedies as are necessary or desirable to dispose of property acquired in the pursuit of such <br /> remedies. <br /> 2.21 Information Statement. The Trustees shall have full and complete power to prepare, <br /> publish and distribute an Information Statement or Statements regarding the 4M Fund and to <br /> amend or supplement the same from time to time. <br /> 12 <br />