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<br />No. 7 HALL COUNTY
<br />time distributed, divided or allocated under the provisions of this trust; and said Trustees shall
<br />segregate, separate, allot, apportion, convey and deliver in kind such specifically segregated
<br />and alocated property at said appraised values from the other property then constituting the trust
<br />estate to and amongst the beneficiaries and /or to and for the purposes required, and in the pro -
<br />rortions provided, under the provisions -of this trust, which shall be in full satisfaction of the
<br />then distributable rights, titles, interests and estates of the beneficiaries hereunder in and to
<br />the corpus or principal of this trust and the portions or parts thereof from which any such valua-
<br />tions, segregations, allocations, allotments.and distributions, either by said Trustees and /or
<br />said appraisers shall be final ad conclusive on all the beneficiaries hereunder and shall be
<br />accepted by said beneficiaries to whom or for whom such distributions and /or allocations shall be
<br />made in full settlement, satisfaction and discharge of the then distributable interests in the
<br />corpus of this trust and /or the income therefrom; and the action of the Trustees in relation
<br />thereto shall be a full and sufficient compliance with their duties to make the distribution and /or
<br />allocations of principal of the tru -t estate as herein provided, anything to the contrary herein
<br />contained notwithstanding.
<br />(d) From the gross income received or derived from the trust estate, or from the principal
<br />thereof if the Trustee deems such course necessary or advisable, there shall first be-paid and
<br />discharged all taxes, assessments, costs, attorney's fees, charges and expenses incurred in the
<br />care, administration, protection and distribution of the trust estate and the protection of this
<br />trust and its defense against legal or equitable action by any person, both during and after probate
<br />administration upon my estate, including compensation for the service of the Trustee hereunder,
<br />which insofar as the corporate trustee hereinafter named or its successor is concerned shall be
<br />as follows, to -wit:
<br />For its ordinary or usual services, as now defined and recognized by trust companies doing
<br />business in the State of Nebraska, (including among other things, the preparation of annual and /or
<br />special reports to the court, the preparation and execution of conveyances, leases and other routine
<br />Instruments, the payment of taxes and assessments, the collection of interest, rents and other in-
<br />come, the payment of net income to the beneficiaries hereunder, the investment and reinvestment
<br />of funds and the superintendence of and making of repa=irs of the trust estate) its compensation
<br />shall be fixed by the Trustees, but shall not exceed an annual fee of 2/5 of 1% of the appraised
<br />value of the corpus of the trust estate; and upon partial distribution or final distribution and
<br />closing of this trust a sum to be fixed by the Trustees but not in excess of 2% of the appraised
<br />value of the corpur of the estate in trust so distributed, A reasonable compensation for any
<br />unusual or extraordinary services rendered.
<br />(e) The entire net income received or derived f o this trust estate and available for dis-
<br />tribution hereafter shall be by my said Trustees a4`"no paid at convenient intervals, not less fre-
<br />quently than quarterly, in accordance with the specific bequests given below;
<br />1. The first $12,000.00 per year of this net income shall be paid to my wife,Della Faidley.
<br />2. The next $4,200.00 of yearly net income shall be apportioned among the following beneficiaries
<br />in the total amounts stated:
<br />(a) The sum of $1,200.00 per year to be paid to my father aiid mother, H.F.Faidley and Linnie
<br />Faidley, or the survivor thereof.
<br />(b) The sum of $600.00 per year to be paid to my mother -in -law, Mrs. Stella Shewalter..
<br />(c). The sum of 4600.00 per year to be paid to my sister -in -law, Grace Shewalter.
<br />(d) The sum of $600.00 per year to be paid to my sister -in -law, Ruth Thompson.
<br />(e) The sum of $600.00 per year to be paid to my sister- in- law,Luda Crawford.
<br />(f) The sum of $600.00 per year to be paid to my wife's aunt,Rosalie Jennings.
<br />3. Any balance remaining of the net income from the trust estate after all of the above bequests
<br />have been taken care of shall be paid to my wife, Della Faidley.
<br />Upon the death of my said wife, the surviving Trustees shall continue to hold said residuary
<br />estate in trust and shall pay over the netincome derived therefrom first to the above named
<br />beneficiaries, in the order named and in the amounts set forth in section (e) hereof, and after
<br />these bequests hRve been satisfied the trustee shall apportion the income among those designated
<br />by my wife in her Will or other testamentary document or if she should die intestate, then one -half
<br />thereof among her heirs -at -law and the remainder, to and among my living relatives, who would be
<br />my heirs -at -law if I had died simultaneously with my wife, the said relations to share in said
<br />remainder as if I had died intestate on said day.
<br />It is specifically ordered that if any of the beneficiaries named in this section (e) shall die,
<br />that the bequest provided for that person shall lapse and be of no effect and revert to the corpus
<br />of the estate.
<br />If all of the beneficiaries named in this section (e) shall die, then my trust herein provided
<br />shall be terminated and the entire net trust estate hereunder thereupon shall pass to and vest in
<br />and thereupon be delivered to those designated by my wife in her Will or other testamentary document,
<br />or if she should die intestate, then one -half thereof among her heirs -at -law and the remainder, to
<br />and among my living relatives, who would be my heirs -at -law if I had died simultaneously with my
<br />wife, the said relations to share in said remainder as if I had died intestate on said day.
<br />NINTH. It is my desire that that portion of my estate consisting of shares of the common
<br />capital stock of J.C.Penney Company, a corporation, be held by said Trustee so lon as said stock
<br />shall maintain a market value equivalent to more than Two Hundred Dollars ($200.00T per share on
<br />the basis of the nresent capitalization of said corporation; provided, however, that should the
<br />market value of said stock become more than Five Hundred Dollars ($500.00) per share on the basis
<br />of the present capitalization of said corporation or should the market value of said stock become
<br />less than the equivalent of Two Hundred Dollars (200.00) per share on the basis of the present
<br />capitalization of said corporation, then the Trustees in their absolute discretion may sell said
<br />stock; and to the end that said Trustees may be apprixed of the financial condition of said cor-
<br />noration and the market value of said stock, said Trustees are empowered and directed, so long
<br />as they shall retain said stock, to obtain from said cor oration, at least once every six months,
<br />a complete detailed financial statement showing the coed Lion of said corporation and the value
<br />of said stock holdings. In the event that said J.C.Penney Company stock, or any thereof, 1 is sold
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