effective date hereof shall be the year and day first hereinabove
written.

          IN TESTIMONY WHEREOF, the Board of Trustees of University
of Kentucky has caused its corporate name to be hereunto subscribed
by its Chairman and its corporate seal to be hereunto affixed, and
said signature and seal to be attested by its Secretary or Acting
Secretary, and said Farmers Bank & Capital Trust Company,
Frankfort, Kentucky, to evidence its acceptance of* the trusts
hereby created and vested in it, has caused its corporate name to
be hereunto subscribed by its President or by one of its Vice
Presidents, or by its Trust Officer, and its corporate seal to be
hereto affixed and said signature and seal to be attested by its
Secretary, Cashier or Trust Officer, or a duly authorized
Assistant, all as of the day and year first above written.

                              BOARD OF TRUSTEES OF
                              UNIVERSITY OF KENTUCKY



By



(SEAL)



Chairman



Attest:



      Secretary






(SEAL)  

Attest:



      Secretary



FARMERS BANK & CAPITAL TRUST COMPANY,
Frankfort, Kentucky


By
           Authorized Officer



25