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<br /> THE�UGUSTINECO -7GOG
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<br /> I,decrees as follows: (
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<br /> �Pl. That the Lincoln Safe De��osit Company and the Lincoln Trust Company have heretofore been ad�udi'
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<br /> �,cated bankrupts and are without mean� to continue to perform the various trusts and functions here�
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<br /> �itofore performed by them. �
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<br /> �!2. That the said compa,nies were trustees for the many holders of beneficial interests in the mort-�
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<br /> �,�age loans set out in the plaintiff's petition and had active duties to perform, which, i� not ��
<br /> !�perforrned, w1ll work a great hardship upon the said parties so beneficially interested and upon I,
<br /> ;lthe publlc generally, �,nd will c�,use an unnecessary and irrepaxable loss; and it is necessary that�j
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<br /> ;�some suitable person or company be immt�diately appointed to f ill the office oP tru�tee and to take�
<br /> ;(over the dutiea heretofore perforn�ed by the �aid defendants, the Lincoln Safe Deposit Company a,r7,d �
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<br /> ;;Linco�:n Trust Company. � �
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<br /> '3. The court further finds that The F'irst Trust Company of' Lincoln, Nebraska, is a suitable concer
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<br /> ;!to be appointed as a trustee to succeed to the said duties of the said described Lincoln Safe De- �
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<br /> ;,posit Company and Lincoln Trust Company and to undertake the administration of said trusts. �
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<br /> ;,�. The court further finds that many of the mortgage papers and instruments creating said trust do!
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<br /> �not contain express provision for the ad_quate compensation and protection of a tru�tee, and that i
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<br /> �aany tru.stee appointed to perform such duties and to protect the ?�roperty and interests of the bene�-
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<br /> ;ficiaries is entitled to reasonable compensation out of the trust properties and to reason�.ble �
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<br /> +�direction and �rotection by the court. The court cannot determine at this time what a reasonablej :I,
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<br /> �icompensation v�.ill be under the conditions and circumstances involved and the amount thereof shoul�l
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<br /> �Ibe determined at a �uture date. �
<br /> �, . The court further f inds that it may be necessary for the preservation of the trust p��perty or �
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<br /> ;1for the proper manage�nent of the sam� for the trustee to make advancements in that behalf and to �
<br /> "iincur expenses without previously collecting funds to cover the _same from the persons interested ,
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<br /> ;;therein; and that if the said trustee shall make advancements in the care or management of the ,
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<br /> ;;trust property, or incur expense f'or the handlin� of the same or in the perfornance oP the duties �
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<br /> ''here imposed u�on the said trustee, said trustee should be reimbursed therefor, and such reimburaei
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<br /> !;ment sh�.11 at a proper time be ordered and enforced b3r the court out of the property of the trust.
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<br /> ;�6. The court further finds that persons ov�ming the entire beneficial interest of a Uond or mortga�
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<br /> ;!should, other things being equal, be permitted to ��rithdr.aw the �.�,me from the h�.nds of the trustee '
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<br /> ;iand to ha.ndle the same nersonally or by his attorneys as he or she may see fit, tnus relievin� thei
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<br /> '3trus'Gee from the burden of collecting or servicir_g such bond or mortgage and permitting the same (
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<br /> ��to be done entirely according �o the v�rish of the ov{rner. And in case of agreement on the part of ��
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<br /> �;all the owners of a widely divided benef icial ov�mership of a bond or mortgage a like courae shoul �
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<br /> ��b� fol.loro�aed. Furthermore, if a considerable ma�ority of the owners of the beneficial interest of �0
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<br /> �'a bond or mortgage desires special or particular _handling of such security the court may in its �
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<br /> ��discretion direct the placin� of the necessary business in connection with the st�me, to that exte '
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<br /> ��retaining the right to r�iake^ further order of such trusteeship as shall be necessary to the end in
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<br /> �� 7 The court further Pinds that the matter of feea to be paid to the trustee shall be f ixed by ty
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<br /> �i;court upon due hearin�: and the trustee s"rzall make full account to the court of all collections, i
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<br /> ;ireceipts, charges and expense by it made. _ �
<br /> �'�. The court further finds that the petition of intervention herein f iled should be denied.
<br /> li9. The trustee shall at all times furnish suitable bond, which in the first instance should be in
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<br /> !' the sum of �100 ,000.00 for both this case (I16-72) and its sister case (116-71) conditioned �or �
<br /> �;f�.ithful performance and safe keeping and account, sarne to be approved by the court; and said bon i
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<br /> '� should be increased or diminished froM time to time according to the exigences of the trust, and �
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<br /> {jas the court shall direct. The bond should be a surety bond and purchased upon the market for th , ��
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<br /> ilowest priee, safety considered.
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