EX-25.1 19 a2138026zex-25_1.htm EXHIBIT 25.1
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Exhibit 25.1



SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


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)


THE BANK OF NEW YORK
(Exact name of trustee as specified in its charter)

NEW YORK
(State of incorporation if not a U.S. national bank)

13-5160382
(I.R.S. employer identification no.)

One Wall Street, New York, New York 10286
(Address of principal executive offices) (Zip Code)


The Bank of New York
10161 Centurion Parkway
Jacksonville, Florida 32256
Attn: Mr. Derek Kettel
(904) 998-4716
(Name, address and telephone number of agent for service)


FairPoint Communications, Inc.
(Exact name of obligor as specified in its charter)

Delaware
(State or other jurisdiction of
incorporation or organization)
  13-3725229
(IRS employer
identification no.)

521 East Morehead Street, Suite 250
Charlotte, North Carolina 28202
(704) 344-8150
(Address, zip code and telephone number of principal executive offices)


Debt Securities
(Title of the indenture securities)




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.

 

 

Superintendent of Banks of the State of New York
2 Rector Street
New York, N.Y. 10006, and Albany, N.Y. 12203

 

 

Federal Reserve Bank of New York
33 Liberty Plaza
New York, N.Y. 10045

 

 

Federal Deposit Insurance Corporation
Washington, D.C. 20429

 

 

New York Clearing House Association
New York, N.Y. 10005

 

(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.

3-15

Not Applicable

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 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 and Exhibit 1 to Form T-1 filed with Registration Statement No. 33-29637.)

 

(4)    A copy of the existing By-laws of the Trustee. (Exhibit 4 to Form T-1 filed with Registration Statement No. 33-31019.)

 

(6)    The consent of the Trustee required by Section 321(b) of the Act. (Exhibit 6 to Form T-1 filed with Registration No. 33-44051.)

 

(7)    A copy of the latest report of condition of the Trustee published pursuant to law or 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 Jacksonville and the State of Florida, on the 3rd day of June, 2004.


 

 

THE BANK OF NEW YORK

 

 

By:

/s/  
Derek Kettel      
Derek Kettel, Agent

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EXHIBIT 6 TO FORM T-1

CONSENT OF TRUSTEE

        Pursuant to the requirements of Section 321(b) of the Trust Indenture Act of 1939, in connection with the proposed issuance of Fairpoint Communication, Inc. Notes, The Bank of New York hereby consents that reports of examinations by Federal, State, Territorial or District Authorities may be furnished by such authorities to the Securities and Exchange Commission upon request therefor.


 

 

THE BANK OF NEW YORK

 

 

By:

/s/  
DEREK KETTEL      
Derek Kettel, Agent


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 Jacksonville and the State of Florida, on the 3rd day of June, 2004.


 

 

THE BANK OF NEW YORK

 

 

By:

/s/  
DEREK KETTEL      
Derek Kettel, Agent


EXHIBIT 7 TO FORM T-1


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, 2003, 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
in Thousands

ASSETS          
Cash and balances due from depository institutions:          
  Noninterest-bearing balances and currency and coin       $ 3,752,987
  Interest-bearing balances         7,153,561
Securities:          
  Held-to-maturity securities         260,388
  Available-for-sale securities         21,587,862
Federal funds sold and securities purchased under agreements to resell:          
  Federal funds sold in domestic offices         165,000
  Securities purchased under agreements to resell         2,804,315
Loans and lease financing receivables:          
  Loans and leases held for sale         557,358
  Loans and leases, net of unearned income   36,255,119      
  LESS: Allowance for loan and lease losses   664,233      
  Loans and leases, net of unearned income and allowance and reserve         35,590,886
Trading assets         4,892,480
Premises and fixed assets (including capitalized leases)         926,789
Other real estate owned         409
Investments in unconsolidated subsidiaries and associated companies         277,788
Customers' liability to this bank on acceptances outstanding         144,025
Intangible assets          
  Goodwill         2,635,322
  Other Intangible Assets         781,009
Other assets         7,727,722
       
Total assets       $ 89,257,901
       

LIABILITIES

 

 

 

 

 
Deposits:          
  In domestic offices       $ 33,763,250
  Noninterest-bearing   14,511,050      
  Interest-bearing   19,252,200      
  In foreign offices, Edge and Agreement subsidiaries, and IBFs         22,980,400
  Noninterest-bearing   341,376      
  Interest-bearing   22,639,024      
Federal funds purchased and securities sold under agreements to repurchased:          
  Federal funds purchased in domestic offices         545,681
  Securities sold under agreements to repurchase         695,658
Trading liabilities         2,338,897
Other borrowed money:          
  (includes mortgage indebtedness and obligations under capitalized leases)         11,078,363
Bank's liability on acceptances executed and outstanding         145,615
Subordinated notes and debentures         2,408,665
Other liabilities         6,441,088
       
Total liabilities         80,397,617
       
Minority interest in consolidated subsidiaries         640,126
           

EQUITY CAPITAL          
Common stock         1,135,284
Surplus         2,077,255
Retained earnings         4,955,319
Accumulated other comprehensive income         52,300
Other equity capital components         0
       
Total equity capital         8,220,158
       
Total liabilities and equity capital       $ 89,257,901
       

        I, Thomas J. Mastro, Senior Vice President and Comptroller of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the Board of Governors of the Federal Reserve System and is true to the best of my knowledge and belief.

Thomas J. Mastro

        We, the undersigned directors, attest to the correctness of this Report of Condition and 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 issued by the Board of Governors of the Federal Reserve System and is true and correct.

Thomas A. Renyi   )    
Gerald L. Hassell   )   Directors
Alan R. Griffith   )    

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SIGNATURE
EXHIBIT 6 TO FORM T-1 CONSENT OF TRUSTEE
SIGNATURE
EXHIBIT 7 TO FORM T-1
Consolidated Report of Condition of THE BANK OF NEW YORK of One Wall Street, New York, N.Y. 10286