EXHIBIT 25.1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM T-1
STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939
OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
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CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE
PURSUANT TO SECTION 305(b)(2) ___
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FIRST FIDELITY BANK, NATIONAL ASSOCIATION
(Name of Trustee)
22-1147033
(Jurisdiction of Incorporation or (I.R.S. Employer
Organization if not a U.S. National Bank) Identification No.)
175 WEST BROADWAY, SALEM, NEW JERSEY 08079
(Address of Principal Executive Offices) (Zip Code)
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INTERNATIONAL CONTROLS CORP.
(Name of Obligor)
FLORIDA 54-0698116
(State of Incorporation) (I.R.S. Employer
Identification No.)
2016 NORTH PITCHER STREET, KALAMAZOO, MI 49007
(Address of Principal Executive Offices) (Zip Code)
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___% SENIOR SECURED NOTES DUE 2002
(Title of Indenture Securities)
1. GENERAL INFORMATION.
FURNISH THE FOLLOWING INFORMATION AS TO THE TRUSTEE:
(a) NAME AND ADDRESS OF EACH EXAMINING OR SUPERVISORY AUTHORITY TO WHICH
IT IS SUBJECT:
Comptroller of the Currency
United States Department of the Treasury
Washington, D.C. 20219
Board of Governors of the Federal Reserve System
Washington, D.C.
Federal Deposit Insurance Corporation
Washington, D.C. 20429
(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.
3. LIST OF EXHIBITS.
LIST BELOW ALL EXHIBITS FILED AS PART OF THIS STATEMENT OF ELIGIBILITY.
1. Copy of Articles of Association of the trustee as now in effect.
Incorporated herein by reference to Exhibit 1 filed with Form T-1,
Registration No. 22-73340.
2. Copy of Certificate of the Comptroller of the Currency dated January
11, 1994, evidencing the authority of the trustee to transact
business. Incorporated herein by reference to Exhibit 2 filed with
Form T-1, Registration No. 22-73340.
3. Copy of the authorization of the trustee to exercise corporate trust
powers has heretofore been filed with the Securities and Exchange
Commission as Exhibit 3 filed with Form T-1, Registration Number 22-
73340, has not been amended since filing and is incorporated herein by
reference.
4. Copy of existing by-laws of the trustee. Incorporated herein by
reference to Exhibit 4 filed with Form T-1, Registration No. 22-73340.
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5. Copy of each indenture if the obligor is in default.
Not applicable.
6. Consent of the trustee required by Section 321(b) of the Act.
Incorporated herein by reference to Exhibit 6 filed with Form T-1,
Registration No. 22-73340.
7. Copy of report of condition of the trustee at the close of business on
March 31, 1994, published pursuant to the requirements of its
supervising authority.
NOTE
The trustee disclaims responsibility for the accuracy or completeness of
information contained in this Statement of Eligibility and Qualification not
known to the trustee and not obtainable by it through reasonable investigation
and as to such information it has obtained from the obligor and has had to rely
or will obtain from the principal underwriters and will have to rely.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939 (as
amended), the trustee, First Fidelity Bank, National Association, a national
banking association organized and existing under the laws of the United States
of America, has duly caused this Statement of Eligibility to be signed on its
behalf by the undersigned, thereunto duly authorized, all in the City of Newark
and State of New Jersey on the 10th day of June, 1994.
FIRST FIDELITY BANK, NATIONAL
ASSOCIATION
By: /s/ Donald J. Quiles
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Donald J. Quiles
Assistant Vice President
(Form T1)
(SHORTJ) (8)
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EXHIBIT 7
This form is for use by National Banks only. It should be used
for publication purposes only, and should not be returned to the
FDIC.
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Comptroller of the Currency
Administrator of National Banks
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REPORT OF CONDITION
Consolidating domestic and foreign subsidiaries of the
First Fidelity Bank, N.A. of Salem
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Name of Bank City
in the state of New Jersey, at the close of business on March 31, 1994,
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published in response to call made by Comptroller of the Currency, under title
12, United States Code, Section 161. Charter Number 33869 Comptroller of the
Currency Northeastern District -----
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Statement of Resources and Liabilities
ASSETS
Thousands of dollars
Cash and balances due from depository institutions: --------------
Noninterest-bearing balances and currency and coin. . . . . . . . . . . . . . . . . . 1,857,291
Interest-bearing balances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 611,096
Securities: ////////////
Held-to-maturity securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,619,113
Available-for-sale securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,301,401
Federal funds sold and securities purchased under agreements to resell in domestic ////////////
offices of the Bank and of its Edge and Agreement subsidiaries, and in IBFs: ////////////
Federal funds sold. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 191,180
Securities purchased under agreements to resell . . . . . . . . . . . . . . . . . . . 367,414
Loans and lease financing receivables: --------------
--------------
Loans and leases, net of unearned income. . . . . . . . . . . . . . 18,393,673
LESS: Allowance for loan and lease losses . . . . . . . . . . . . . 526,109
LESS: Allocated transfer risk reserve . . . . . . . . . . . . . . . 0
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Loans and leases, net of unearned income, allowance, and reserve. . . . . . . . . . . 17,867,566
Assets held in trading accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . 183,757
Promises and fixed assets (including capitalized losses). . . . . . . . . . . . . . . . 342,058
Other real estate owned . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 133,644
Investments in unconsolidated subsidiaries and associated companies . . . . . . . . . . 6,778
Customers' liability to this bank on acceptances outstanding . . . . . . . . . . . . . 188,605
Intangible assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 234,601
Other assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 472, 266
Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28,578,772
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CONTINUED ON NEXT PAGE
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LIABILITIES
Deposits:
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In domestic offices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23,577,518
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Noninterest-bearing . . . . . . . . . . . . . . . . . . . . . . . . 5,083,582
Interest-bearing. . . . . . . . . . . . . . . . . . . . . . . . . . 18,493,936
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In foreign offices, Edge and Agreement subsidiaries, and IBFs . . . . . . . . . . . . . 269, 371
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Noninterest-bearing . . . . . . . . . . . . . . . . . . . . . . . . 13,796
Interest-bearing. . . . . . . . . . . . . . . . . . . . . . . . . . 255,575
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Federal funds purchased and securities sold under agreements to repurchase in domestic
offices of the bank and of its Edge and Agreement subsidiaries, and in IBFs:
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Federal funds purchased . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 375,427
Securities sold under agreements to repurchase. . . . . . . . . . . . . . . . . . . . . 1,077,572
Demand notes issued to the U.S. Treasury . . . . . . . . . . . . . . . . . . . . . . . . 0
Trading liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0
Other borrowed money: ///////////
With original maturity of one year or less. . . . . . . . . . . . . . . . . . . . . . . 5,424
With original maturity of more than one year. . . . . . . . . . . . . . . . . . . . . . 846
Mortgage indebtedness and obligations under capitalized leases. . . . . . . . . . . . . . 7,123
Bank's liability on acceptances executed and outstanding . . . . . . . . . . . . . . . . 191,659
Subordinated notes and debentures . . . . . . . . . . . . . . . . . . . . . . . . . . . . 175,000
Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 418,775
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26,098,715
Limited-life preferred stock and related surplus. . . . . . . . . . . . . . . . . . . . . 0
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EQUITY CAPITAL
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Perpetual preferred stock and related surplus . . . . . . . . . . . . . . . . . . . . . . 0
Common stock. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 430,000
Surplus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 918,675
Undivided profits and capital reserves. . . . . . . . . . . . . . . . . . . . . . . . . . 1,135,806
Net unrealized holding gains (losses) on available-for-sale securities. . . . . . . . . . (4,424)
Cumulative foreign currency translation adjustments . . . . . . . . . . . . . . . . . . . 0
Total equity capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,480,057
Total liabilities, limited-life preferred stock, and equity capital . . . . . . . . . . . 28,578,772
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We, the undersigned directors, attest to I, Anthony R. Burriesci
the correctness of this statement of ---------------------------
resources and liabilities. We declare Name
that it has been examined by us, and to
the best of our knowledge and belief Executive V.P. & Controller
has been prepared in conformance with ---------------------------
the instructions and is true and correct. Title
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.
(Signed) Wolfgang Schoellkopf
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(Signed) Peter C. Palmieri Directors
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(Signed) Leslie E. Goodman
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(Signed) Anthony R. Burriesci
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Signature
April 27, 1994
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Date
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