Exhibit (g)(7)
Amendment to Custodian Contract
This Amendment to the custody contract is made as of November 17, 2000,
by and between State Street Bank and Trust Company (the "Custodian") and SCUDDER
INCOME TRUST (formerly known as AARP Income Trust), on behalf of each of its
Portfolios (the "Fund"). Capitalized terms used in this Amendment without
definition shall have the respective meanings given to such terms in the
Custodian Contract referred to below.
WHEREAS, the Fund and the Custodian entered into a Custodian Contract
dated November 30, 1984 (as amended from time to time, the "Custodian
Contract"); and
WHEREAS, the Fund and the Custodian wish to amend the Custodian
Contract to enable the Fund to instruct the Custodian to pay out Fund moneys for
cash sweeps and interfund lending or borrowing transactions and also to
segregate collateral for interfund lending or borrowing transactions;
NOW, THEREFORE, in consideration of the foregoing and the mutual
promises and covenants contained herein and in the Custodian Contract, the
parties hereby agree to amend the Custodian Contract as follows:
1. Payment of Fund Moneys
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In Article II, Section (H), subsection (7) is renumbered as subsection
(9) and new subsections (7) and (8) are added to the Custodian Contract
as follows:
(7) in connection with a lending or borrowing transaction between the
Fund, on behalf of a Portfolio, and an investment company, on behalf of
a Portfolio, advised by Scudder Kemper Investments;
(8) in connection with a cash sweep arrangement; or
2. Segregated Account
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In Article II, Section (M), subsection (iv) is renumbered as subsection
(v) and new subsection (iv) is added to the Custodian Contract as
follows:
(iv) for the purpose of segregating securities or other assets of the
Fund in connection with a borrowing transaction between the Fund, on
behalf of a Portfolio, as borrower and an investment company, on behalf
of a Portfolio, advised by Scudder Kemper Investments, and
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IN WITNESS WHEREOF, each of the parties has caused this instrument to
be executed in its name and on its behalf by its duly authorized representative
as of the date written above.
SCUDDER INCOME TRUST
By: /s/John Millette
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Its: Vice President
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STATE STREET BANK AND TRUST COMPANY
By: Ronald E. Logue
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Its: Vice Chairman
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