FORM T-1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
STATEMENT OF ELIGIBILITY AND QUALIFICATION UNDER THE TRUST INDENTURE ACT
OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
U.S. BANK TRUST NATIONAL ASSOCIATION
(Exact Name of Trustee as Specified in its Charter)
91-1587893
(I.R.S Employer Identification No.)
601 Union Street, Suite 2120, Seattle, WA 98101
(Address of Principal Executive Offices) (Zip Code)
SFG MORTGAGE AND INVESTMENT COMPANY, INC.
(Exact Name of Obligor as Specified in its Charter)
Washington 91-0609840
(State or Other Jurisdiction (I.R.S. Employer
of Incorporation or Organization) Identification No.)
923 Powell Avenue SW, Renton, Washington 98355
(Address of Principal Executive Offices) (Zip Code)
Investment Debentures, Series I
(Title of the Indenture Securities)
ITEM 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.
Comptroller of the Currency, Washington D.C. 20521
(b) Whether it is authorized to exercise corporate trust powers.
Yes.
ITEM 2. AFFILIATIONS WITH OBLIGOR AND UNDERWRITERS.
If the Obligor or any underwriter for the obligor is an affiliate of
the Trustee, describe each such affiliation.
No such affiliation exists with the Trustee, U.S. Bank Trust National
Association.
ITEM 3. VOTING SECURITIES OF THE TRUSTEE.
Furnish the following information as to each class of voting securities
of the Trustee:
As of July 31, 1999:
Col. A Col. B
Title of Class Amount Outstanding
-------------- ------------------
Common Stock 1000 shares
ITEM 4. TRUSTEESHIPS UNDER OTHER INDENTURES.
If the Trustee is a trustee under another indenture under which any
other securities, or certificates of interest or participation in any
other securities, of the obligor are outstanding, furnish the following
information:
(a) Title of securities outstanding under each such other
indenture:
None
(b) A brief statement of the facts relied upon as a basis for the
claim that no conflicting interest within the meaning of
Section 310(b)(1) of the Act arises as a result of the
trusteeship under any such other indenture, including a
statement as to how the indenture securities will rank as
compared with the securities used under such other indenture.
Not applicable.
ITEM 5. INTERLOCKING DIRECTORIES AND SIMILAR RELATIONSHIPS WITH THE OBLIGOR
OR ITS OFFICIALS.
If the trustee or any of the directors or executive officers of the
trustee is a director, officer, partner, employee, appointee, or
representative of the obligor, identify each such person having any
such connection and state the nature of each such connection.
None.
ITEM 6. VOTING SECURITIES OF THE TRUSTEE OWNED BY THE OBLIGOR OR ITS
OFFICIALS.
Furnish the following information as to the voting securities of
the trustee owned beneficially by the obligor and each
director, partner and executive officer of the obligor.
As of July 31, 1999:
Col. A Col. B Col. C Col. D
Percentage of Voting
Amount Owned Securities Represented By
Name of Owner Title of Class Beneficially Amount Given in Col. C
------------- -------------- ------------ -------------------------
None.
ITEM 7. VOTING SECURITIES OF THE TRUSTEE OWNED BY UNDERWRITERS OR THEIR
OFFICIALS.
Furnish the following information as to the voting securities of the
Trustee owned beneficially by each underwriter for the obligor and each
director, partner and executive officer of each such underwriter.
As of July 31, 1999:
Col. A Col. B Col. C Col. D
Percentage of Voting
Amount Owned Securities Represented By
Name of Owner Title of Class Beneficially Amount Given in Col. C
------------- -------------- ------------ -----------------------
None.
ITEM 8. SECURITIES OF THE OBLIGOR OWNED OR HELD BY THE TRUSTEE.
Furnish the following information as to securities of the obligor owned
beneficially or held as collateral security for obligations in default
by the Trustee:
As of July 31, 1999:
Col. A Col. B Col. C Col. D
Amount Owned Percentage of Class
Whether the Securities Beneficially or Held as Represented By
Are Voting or Collateral Security for Amount Given
Title of Class Nonvoting Securities Obligations in Default in Col. C
-------------- -------------------- ---------------------- ---------
None.
ITEM 9. SECURITIES OF UNDERWRITERS OWNED OR HELD BY THE TRUSTEE.
If the Trustee owns beneficially or holds as collateral security for
obligations in default any securities or an underwriter for the
obligor, furnish the following information as to
each class of securities of such underwriter any of which as so owned
or held by the Trustee.
As of July 31, 1999:
Col. A Col. B Col. C Col. D
Amount Owned
Beneficially or Held as
Whether the Securities Collateral Security for Percentage of Class
Title of Issuer Are Voting or Obligations in Default Represented by
and Title of Class Nonvoting Securities by Trustee Amount Given in Col. C
------------------ -------------------- ----------- ----------------------
None.
ITEM 10. OWNERSHIP OR HOLDINGS BY THE TRUSTEE OF VOTING SECURITIES OF CERTAIN
AFFILIATES OR SECURITY HOLDERS OF THE OBLIGOR.
If the Trustee owns beneficially or holds as collateral security for
obligations in default voting securities of a person who, to the
knowledge of the trustee (1) owns 10% or more of the voting securities
of the obligor or (2) is an affiliate, other than a subsidiary, of the
obligor, furnish the following information as to the voting securities
of such person.
As of July 31, 1999:
Col. A Col. B Col. C Col. D
Amount Owned
Beneficially or Held as
Whether the Securities Collateral Security for Percentage of Class
Title of Issuer Are Voting or Obligations in Default Represented by
and Title of Class Nonvoting Securities by Trustee Amount Given in Col. C
------------------ -------------------- ---------- ----------------------
None.
ITEM 11. OWNERSHIP OR HOLDINGS BY THE TRUSTEE OF ANY SECURITIES OF A PERSON
OWNING 50% OR MORE OF THE VOTING SECURITIES OF THE OBLIGOR.
If the Trustee owns beneficially or holds as collateral security for
obligations in default any Securities of a person who, to the knowledge
of the trustee, owns 50% or more of the voting securities of the
obligor, furnish the following information as to each class of
securities of such person any of which are so owned or held by the
trustee.
As of July 31, 1999:
Col. A Col. B Col. C Col. D
Amount Owned
Beneficially or Held as
Whether the Securities Collateral Security for Percentage of Class
Title of Issuer Are Voting or Obligations in Default Represented by
and Title of Class Nonvoting Securities by Trustee Amount Given in Col. C
------------------ -------------------- ---------- ----------------------
None.
ITEM 12. INDEBTEDNESS OF THE OBLIGOR TO THE TRUSTEE.
Except as noted in the instructions, if the obligor is indebted to the
Trustee, furnish the following information:
As of July 31, 1999:
Col. A Col. B Col. C
Nature of Indebtedness Amount Outstanding Date Due
---------------------- ------------------ --------
None.
ITEM 13. DEFAULTS BY THE OBLIGOR.
(a) State whether there is or has been a default with respect to
the securities under this indenture. Explain the nature of
any such default.
Not applicable.
(b) If the trustee is a trustee under another indenture under
which any other securities, or certificates of interest or
participation in any other securities, of the obligor are
outstanding, or is trustee for more than one outstanding
series of securities under the indenture, state whether there
has been a default under any such indenture or series,
identify the indenture or series affected, and explain the
nature of any such default.
Not applicable.
ITEM 14. AFFILIATIONS WITH THE UNDERWRITERS.
If any underwriter is an affiliate of the trustee, describe each such
affiliation.
None.
ITEM 15. FOREIGN TRUSTEE.
Identify the order or rule pursuant to which the foreign trustee is
authorized to act as sole trustee under indentures qualified or to be
qualified under the Act.
Not applicable.
ITEM 16. LIST OF EXHIBITS.
List below all exhibits filed as part of this statement of eligibility
and qualification.
1. Articles of association of U.S. Bank Trust National
Association.
2. Certificate of Authority of U.S. Bank Trust National
Association to Commence Business.
3. Authorization of the Trustee to exercise corporate trust
powers.
4. Bylaws of U.S. Bank Trust National Association. (Attached)
5. Not Applicable.
6. Consents of U.S. Bank Trust National Association required by
Section 321(b) of the Act.
7. Latest Report of Condition of U.S. Bank Trust National
Association.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, the trustee,
U.S. Bank Trust National Association, a national banking association organized
under the laws of the United States, has duly caused this statement of
eligibility and qualification to be signed on its behalf by the undersigned,
thereunto duly authorized, all in the City of Seattle, and State of Washington,
on the 25th day of August, 1999.
U.S. BANK TRUST NATIONAL
ASSOCIATION
By Sherrie L. Pantle, Vice-President
---------------------------------
CONSENT OF THE TRUSTEE
Pursuant to the requirements of Section 321(b) of the Trust Indenture Act of
1939 in connection with the proposed issuance by SFG Mortgage & Investment
Co., Inc. of Investment Debentures, Series I, we hereby consent that reports
of examinations by federal, state, territorial and district authorities may
be furnished by such authorities to the Securities and Exchange Commission
upon its request therefor.
U.S. BANK TRUST NATIONAL
ASSOCIATION
By Sherrie L. Pantle, Vice-President
---------------------------------
Dated: August 25, 1999.