Exhibit 25.1
CONFORMED COPY
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
CHECK IF AN APPLICATION TO DETERMINE
ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b)(2)
HSBC Bank USA
(Exact name of trustee as specified in its charter)
New York 13-2774727
(Jurisdiction of incorporation (I.R.S. Employer
or organization if not a U.S. Identification No.)
national bank)
452 Fifth Avenue, New York, NY 10018-2706
(212) 525-5600 (Zip Code)
(Address of principal executive offices)
Warren L. Tischler, SVP
HSBC Bank USA
452 Fifth Avenue
New York, New York 10018-2706
Tel: (212) 525-1311
(Name, address and telephone number of agent for service)
TEREX CORPORATION*
(Exact name of obligor as specified in its charter)
Delaware 34-1531521
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
500 Post Road East
Westport, CT 06880
(203) 222-7170 (Zip Code)
(Address of principal executive offices)
7 3/8% Senior Subordinated Notes due 2014
Guarantees by certain subsidiaries of TEREX CORPORATION
(Title of Indenture Securities)
<page>
*TABLE OF ADDITIONAL REGISTRANTS
State or Other
Jurisdiction of I.R.S. Employer
Incorporation or Identification
Name, Address and Telephone Number Organization Number
- ---------------------------------- --------------- ---------------
Terex Cranes, Inc. (1) Delaware 06-1513089
CMI Terex Corporation Oklahoma 73-0519810
P.O. Box 1985
I-40 and Morgan Road
Oklahoma City, Oklahoma 73101
(405) 787-6020
Koehring Cranes, Inc. Iowa 06-1423888
106 12th Street S.E.
Waverly, Iowa 50677
(319) 352-3920
Terex-Telelect, Inc. Delaware 41-1603748
600 Oakwood Road
Watertown, South Dakota 57201
(605) 882-4000
Terex-RO Corporation Kansas 44-0565380
550 Old Highway 56
Olathe, Kansas 66061
(913) 782-1200
Payhauler Corp. Illinois 36-3195008
5400 South 49th Street
Tulsa, Oklahoma 74107
(918) 446-5881
The American Crane Corporation North Carolina 56-1570091
202 Raleigh Street
Wilmington, North Carolina 28412
(910) 395-8500
Amida Industries, Inc. South Carolina 57-0531930
590 Huey Road
Rock Hill, South Carolina 29730
(803) 324-3011
O&K Orenstein & Koppel, Inc. Delaware 58-2084520
5400 South 49th Street
Tulsa, Oklahoma 74107
(918) 446-5881
Cedarapids, Inc. Iowa 43-0332910
909 17th Street NE
Cedar Rapids, Iowa 52402
(319) 363-3511
Standard Havens, Inc. Delaware 43-0913249
909 17th Street NE
Cedar Rapids, Iowa 52402
(319) 363-3511
Standard Havens Products, Inc. Delaware 43-1435208
909 17th Street NE
Cedar Rapids, Iowa 52402
(319) 363-3511
BL Pegson USA, Inc. Connecticut 31-1629830
590 Huey Road
Rock Hill, South Carolina 29730
(800) 324-3011
Benford America, Inc. Delaware 76-0522879
590 Huey Road
Rock Hill, South Carolina 29730
(803) 324-3011
Coleman Engineering, Inc. Tennessee 62-0949893
590 Huey Road
Rock Hill, South Carolina 29730
(803) 324-3011
Finlay Hydrascreen USA, Inc. New Jersey 22-2776883
11001 Electron Drive
Louisville, Kentucky 40299
(502) 267-2314
Earthking, Inc. (1) Delaware 06-1572433
Powerscreen Holdings USA Inc. (1) Delaware 61-1265609
Powerscreen International LLC (1) Delaware 61-1340898
Powerscreen North America Inc. (1) Delaware 61-1340891
Powerscreen USA LLC Kentucky 31-1515625
11001 Electron Drive
Louisville, Kentucky 40299
(502) 267-2314
Royer Industries, Inc. Pennsylvania 24-0708630
341 King Street
Myerstown, Pennsylvania 17067
(717) 866-2357
Terex Bartell, Inc. Delaware 34-1325948
590 Huey Road
Rock Hill, South Carolina 29730
(803) 324-3011
PPM Cranes, Inc. Delaware 39-1611683
Highway 501 East
Conway, South Carolina 29526
(843) 349-6900
Terex Mining Equipment, Inc. (1) Delaware 06-1503634
CMI Dakota Company South Dakota 46-0440642
I-40 & Morgan Road
Oklahoma City, Oklahoma 73101
(405) 787-6020
CMIOIL Corporation Oklahoma 73-1125438
I-40 & Morgan Road
Oklahoma City, Oklahoma 73101
(405) 787-6020
Fuchs Terex, Inc. (1) Delaware 06-1570294
Genie Access Services, Inc. Washington 91-2073567
18340 NE 76th Street
Redmond, Washington 98052
(425) 881-1800
Genie China, Inc. Washington 91-1973009
18340 NE 76th Street
Redmond, Washington 98052
(425) 881-1800
Genie Financial Services, Inc. Washington 91-1712115
18340 NE 76th Street
Redmond, Washington 98052
(425) 881-1800
Genie Holdings, Inc. Washington 91-1666966
18340 NE 76th Street
Redmond, Washington 98052
(425) 881-1800
Genie Industries, Inc. Washington 91-0815489
18340 NE 76th Street
Redmond, Washington 98052
(425) 881-1800
Genie International, Inc. Washington 91-1975116
18340 NE 76th Street
Redmond, Washington 98052
(425) 881-1800
Genie Manufacturing, Inc. Washington 91-1499412
18340 NE 76th Street
Redmond, Washington 98052
(425) 881-1800
GFS Commercial LLC Washington N/A
18340 NE 76th Street
Redmond, Washington 98052
(425) 881-1800
GFS National, Inc. Washington 91-1959375
18340 NE 76th Street
Redmond, Washington 98052
(425) 881-1800
Go Credit Corporation Washington 91-1563427
18340 NE 76th Street
Redmond, Washington 98052
(425) 881-1800
Lease Servicing & Funding Corporation Washington 91-1808180
18340 NE 76th Street
Redmond, Washington 98052
(425) 881-1800
Product Support, Inc. Oklahoma 73-1488926
18340 NE 76th Street
Redmond, Washington 98052
(425) 881-1800
Spinnaker Insurance Company (1) Vermont 03-0372517
Schaeff Incorporated (1) Iowa 42-1097891
Terex Advance Mixer, Inc. (1) Delaware 06-1444818
Terex Financial Services, Inc. (1) Delaware 45-0497096
Terex Utilities, Inc. (1) Delaware 45-0497096
Terex Utilities South, Inc. Delaware 74-3075523
142 Gembler Road
San Antonio, Texas 78219
(210) 476-7777
Utility Equipment, Inc. Oregon 93-0557703
12805 SW 77th Place
Tigard, Oregon 97223
(503) 620-0611
(1) The address and telephone number of principal executive offices are the
same as those of Terex Corporation.
General
Item 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.
State of New York Banking Department.
Federal Deposit Insurance Corporation, Washington, D.C.
Board of Governors of the Federal Reserve System,
Washington, D.C.
(b) Whether it is authorized to exercise corporate trust powers.
Yes.
Item 2. Affiliations with Obligor.
If the obligor is an affiliate of the trustee, describe each such
affiliation.
None
Item 16. List of Exhibits
Exhibit
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T1A(i) (1) Copy of the Organization Certificate of HSBC Bank USA.
T1A(ii) (1) Certificate of the State of New York Banking Department
dated December 31, 1993 as to the authority of HSBC
Bank USA to commence business as amended effective on
March 29, 1999.
T1A(iii) Not applicable.
T1A(iv) (3) Copy of the existing By-Laws of HSBC Bank USA as
amended on April 11, 2002.
T1A(v) Not applicable.
T1A(vi) (2) Consent of HSBC Bank USA required by Section 321(b) of
the Trust Indenture Act of 1939.
T1A(vii) Copy of the latest report of condition of the trustee
(September 30, 2003), published pursuant to law or the
requirement of its supervisory or examining authority.
T1A(viii) Not applicable.
T1A(ix) Not applicable.
(1) Exhibits previously filed with the Securities and Exchange Commission with
Registration No. 022-22429 and incorporated herein by reference thereto.
(2) Exhibit previously filed with the Securities and Exchange Commission with
Registration No. 33-53693 and incorporated herein by reference thereto.
(3) Exhibit previously filed with the Securities and Exchange Commission with
Registration No. 333-88532 and incorporated herein by reference thereto.
<page>
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, the Trustee,
HSBC Bank USA, a banking corporation and trust company organized 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 19th day of January, 2004.
HSBC BANK USA
By: /s/ Marcia A. Markowski
---------------------------
Marcia A. Markowski
Vice President
<page>
<table>
<caption>
Exhibit T1A (vii)
Board of Governors of the Federal Reserve System
OMB Number: 7100-0036
Federal Deposit Insurance Corporation
OMB Number: 3064-0052
Office of the Comptroller of the Currency
OMB Number: 1557-0081
Federal Financial Institutions Examination Council Expires April 30, 2006
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Please refer to page i,
Table of Contents, for
the required disclosure
of estimated burden. [1]
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Consolidated Reports of Condition and Income for
A Bank With Domestic and Foreign Offices-FFIEC 031
<s> <c>
Report at the close of business September 30, 2003 (19980930)
----------
(RCRI 9999)
This report is required by law; 12 U.S.C. SS324 (State member This report form is to be filed by banks with branches and
banks); 12 U.S.C. SS1817 (State nonmember banks); and 12 U.S.C. consolidated subsidiaries in U.S. territories and possessions,
SS161 (National banks). Edge or Agreement subsidiaries, foreign branches, consolidated
foreign subsidiaries, or International Banking Facilities.
NOTE: The Reports of Condition and Income must be signed by an The Reports of Condition and Income are to be prepared in
authorized officer and the Report of Condition must be attested accordance with Federal regulatory authority instructions.
to by not less than two directors (trustees) for State nonmember
banks and three directors for State member and National Banks. We, the undersigned directors (trustees), attest to the
correctness of this Report of Condition (including the
I, Joseph R. Simpson, Controller supporting schedules) and declare that it has been examined by
Name and Title of Officer Authorized to Sign Report us and to the best of our knowledge and belief has been
prepared in conformance with the instructions issued by the
Of the named bank do hereby declare that these Reports of appropriate Federal regulatory authority and is true and
Condition and Income (including the supporting schedules) have correct.
been prepared in conformance with the instructions issued by the
appropriate Federal regulatory authority and are true to the
best of my knowledge and believe.
/s/ Sal H. Alfieri
/s/ Jsoeph R. Simpson ---------------------------------
Director (Trustee)
- ----------------------------------------------------------------- /s/ Bernard J. Kennedy
Signature of Officer Authorized to Sign Report ---------------------------------
Director (Trustee)
11/12/03 /s/ Martin Glynn
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Date of Signature Director (Trustee)
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Submission of Reports
Each Bank must prepare its Reports of Condition and Income For electronic filing assistance, contact EDS Call report
either: Services, 2150 N. Prospect Ave., Milwaukee, WI 53202, telephone
(800) 255-1571.
(a) in electronic form and then file the computer data
file directly with the banking agencies' collection To fulfill the signature and attestation requirement for the
agent, Electronic Data System Corporation (EDS), by modem Reports of Condition and Income for this report date, attach
or computer diskette; or this signature page to the hard-copy f the completed report
that the bank places in its files.
b) in hard-copy (paper) form and arrange for another party
to convert the paper report to automated for. That party (if
other than EDS) must transmit the bank's computer data file to
EDS.
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FDIC Certificate Number 00589
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(RCRI 9030)
http://WWW.BANKING.US.HSBC.COM HSBC Bank USA
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Primary Internet Web Address of Bank (Home Page), if any (TEXT 4087) Legal Title of Bank (TEXT 9010)
(Example: www.examplebank.com)
Buffalo
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City (TEXT 9130)
N.Y. 14203
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State Abbrev. (TEXT 9200) ZIP Code (TEXT 9220)
Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency
</table>
<page>
REPORT OF CONDITION
Consolidated domestic subsidiaries
HSBC Bank USA of Buffalo
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Name of Bank City
in the state of New York, at the close of business September 30, 2003
<table>
<caption>
ASSETS
<s> <c> <c>
Thousands of dollars
Cash and balances due from depository institutions:
-----------------------
a. Non-interest-bearing balances currency and coin $ 2,350,034
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b. Interest-bearing balances 1,160,995
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Held-to-maturity securities
4,213,089
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Available-for-sale securities 14,211,802
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Federal funds sold and securities purchased under agreements to resell:
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a. Federal funds sold in domestic offices 633,000
b. Securities purchased under agreements to resell 3,994,723
-----------------------
Loans and lease financing receivables:
-----------------------
Loans and leases held for sale $ 2,653,585
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Loans and leases net of unearned income $ 42,180,013
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LESS: Allowance for loan and lease losses 434,830
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-----------------------
Loans and lease, net of unearned income, allowance, and reserve $ 41,745,183
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Trading assets 11,522,909
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Premises and fixed assets
673,337
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Other real estate owned
11,310
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Investments in unconsolidated subsidiaries
243,581
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Customers' liability to this bank on acceptances outstanding
80,310
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Intangible assets: Goodwill
2,211,273
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Intangible assets: Other intangible assets
503,927
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Other assets
3,948,333
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Total assets
90,157,211
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LIABILITIES
Deposits:
In domestic offices
42,764,284
-----------------------
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Non-interest-bearing
6,078,506
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Interest-bearing
36,685,778
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-----------------------
In foreign offices
20,037,930
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Non-interest-bearing
417,850
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Interest-bearing
19,620,080
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Federal funds purchased and securities sold under agreements to repurchase:
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a. Federal funds purchased in domestic offices
90,885
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b. Securities sold under agreements to repurchase
390,103
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Trading Liabilities
8,070,149
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Other borrowed money
5,316,355
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Bank's liability on acceptances
80,130
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Subordinated notes and debentures
1,549,223
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Other liabilities
4,181,576
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Total liabilities
82,480,605
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Minority Interests in consolidated Subsidiaries
342
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EQUITY CAPITAL
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Perpetual preferred stock and related surplus
-
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Common Stock
205,000
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Surplus
6,420,202
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Retained earnings
893,079
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Accumulated other comprehensive income
157,983
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Other equity capital components
-
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Total equity capital
7,676,264
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Total liabilities, minority interests and equity capital
90,157,211
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</table>