Exhibit 25.1
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FORM T-1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
CHECK IF AN APPLICATION TO DETERMINE
ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b)(2) |__|
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THE BANK OF NEW YORK
(Exact name of trustee as specified in its charter)
New York 13-5160382
(State of incorporation (I.R.S. employer
if not a U.S. national bank) identification no.)
One Wall Street, New York, N.Y. 10286
(Address of principal executive offices) (Zip code)
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GRANITE MASTER ISSUER PLC
(Issuing entity in respect of the Notes)
(Exact name of obligor as specified in its charter)
England and Wales
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification no.)
Fifth Floor, 100 Wood Street
London EC2V 7EX
United Kingdom
(Address of principal executive offices) (Zip code)
GRANITE FINANCE FUNDING 2 LIMITED
(Depositor)
England and Wales
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification no.)
Fifth Floor, 100 Wood Street
London EC2V 7EX
United Kingdom
(Address of principal executive offices) (Zip code)
GRANITE FINANCE TRUSTEES LIMITED
(Mortgages Trustee)
Jersey, Channel Islands
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification no.)
22 Grenville Street
St Helier, Jersey JE4 8PX
Channel Islands
(Address of principal executive offices) (Zip code)
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Mortgage Backed Notes
(Title of the indenture securities)
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1. General information. Furnish the following information as to the
Trustee:
(a) Name and address of each examining or supervising authority to
which it is subject.
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Name Address
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Superintendent of Banks of the One State Street, New York,
State of New York N.Y. 10004-1417, and Albany,
N.Y. 12223
Federal Reserve Bank of New York 33 Liberty Street, New York,
N.Y. 10045
Federal Deposit Insurance Washington, D.C. 20429
Corporation
New York Clearing House New York, New York 10005
Association
(b) Whether it is authorized to exercise corporate trust powers.
Yes.
2. Affiliations with Obligor.
If the obligor is an affiliate of the trustee, describe each such
affiliation.
None.
16. List of Exhibits.
Exhibits identified in parentheses below, on file with the Commission,
are incorporated herein by reference as an exhibit hereto, pursuant to
Rule 7a-29 under the Trust Indenture Act of 1939 (the "Act") and 17
C.F.R. 229.10(d).
1. A copy of the Organization Certificate of The Bank of New York
(formerly Irving Trust Company) as now in effect, which contains
the authority to commence business and a grant of powers to
exercise corporate trust powers. (Exhibit 1 to Amendment No. 1
to Form T-1 filed with Registration Statement No. 33-6215,
Exhibits 1a and 1b to Form T-1 filed with Registration Statement
No. 33-21672, Exhibit 1 to Form T-1 filed with Registration
Statement No. 33-29637 and Exhibit 1 to Form
T-1 filed with Registration Statement No. 333-121195.)
4. A copy of the existing By-laws of the Trustee. (Exhibit 4 to Form
T-1 filed with Registration Statement No. 333-121195.)
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6. The consent of the Trustee required by Section 321(b) of the Act.
(Exhibit 6 to Form T-1 filed with Registration Statement No.
333-106702.)
7. A copy of the latest report of condition of the Trustee published
pursuant to law or to the requirements of its supervising or
examining authority.
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SIGNATURE
Pursuant to the requirements of the Act, the Trustee, The Bank of New
York, a corporation organized and existing under the laws of the State of New
York, has duly caused this statement of eligibility to be signed on its behalf
by the undersigned, thereunto duly authorized, all in The City of New York,
and State of New York, on the 27th day of March, 2007.
THE BANK OF NEW YORK
By: /S/ ROBERT A. MASSIMILLO
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Name: ROBERT A. MASSIMILLO
Title: VICE PRESIDENT
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EXHIBIT 7
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Consolidated Report of Condition of
THE BANK OF NEW YORK
of One Wall Street, New York, N.Y. 10286
And Foreign and Domestic Subsidiaries,
a member of the Federal Reserve System, at the close of business December 31,
2006, published in accordance with a call made by the Federal Reserve Bank of
this District pursuant to the provisions of the Federal Reserve Act.
Dollar Amounts
ASSETS In Thousands
Cash and balances due from depository
institutions:
Noninterest-bearing balances and
currency and coin.................. 3,375,000
Interest-bearing balances........... 11,937,000
Securities:
Held-to-maturity securities......... 1,729,000
Available-for-sale securities....... 17,675,000
Federal funds sold and securities
purchased under agreements to resell
Federal funds sold in domestic
offices............................. 3,953,000
Securities purchased under
agreements to resell................ 162,000
Loans and lease financing receivables:
Loans and leases held for sale...... 0
Loans and leases, net of unearned
income............................. 30,730,000
LESS: Allowance for loan and
lease losses....................... 286,000
Loans and leases, net of unearned
income and allowance............... 30,444,000
Trading assets........................ 5,047,000
Premises and fixed assets (including
capitalized leases)................ 830,000
Other real estate owned............... 1,000
Investments in unconsolidated
subsidiaries and associated
companies.......................... 292,000
Not applicable
Intangible assets:
Goodwill........................... 2,747,000
Other intangible assets............ 981,000
Other assets.......................... 6,814,000
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Total assets.......................... 85,987,000
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LIABILITIES
Deposits:
In domestic offices................. 30,000,000
Noninterest-bearing................. 19,293,000
Interest-bearing.................... 10,707,000
In foreign offices, Edge and
Agreement subsidiaries, and IBFs... 33,219,000
Noninterest-bearing................. 472,000
Interest-bearing.................... 32,747,000
Federal funds purchased and
securities sold under agreements
to repurchase
Federal funds purchased in domestic
offices........................... 671,000
Securities sold under agreements to
repurchase........................ 185,000
Trading liabilities................... 2,479,000
Other borrowed money:
(includes mortgage indebtedness
and obligations under capitalized
leases)............................. 2,076,000
Not applicable
Not applicable
Subordinated notes and debentures..... 1,955,000
Other liabilities..................... 6,527,000
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Total liabilities..................... 77,112,000
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Minority interest in consolidated
subsidiaries........................ 144,000
EQUITY CAPITAL
Perpetual preferred stock and related
surplus............................. 0
Common stock.......................... 1,135,000
Surplus (exclude all surplus related
to preferred stock)................. 2,134,000
Retained earnings..................... 5,769,000
Accumulated other comprehensive
income.............................. -307,000
Other equity capital components....... 0
Total equity capital.................. 8,731,000
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Total liabilities, minority interest,
and equity capital.................. 85,987,000
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I, Thomas P. Gibbons, Chief Financial Officer of the above-named bank do
hereby declare that this Report of Condition is true and correct to the best
of my knowledge and belief.
Thomas P. Gibbons,
Chief Financial Officer
We, the undersigned directors, attest to the correctness of this
statement of resources and liabilities. We declare that it has been examined
by us, and to the best of our knowledge and belief has been prepared in
conformance with the instructions and is true and correct.
Thomas A. Renyi
Gerald L. Hassell
Catherine A. Rein Directors
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