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D. Upon the death of both my said wife and daughter, two thirds (2/3) of the net income shall be
<br />divided between and paid to my grandson, A.Chester Wischmeier, my granddaughter, Janet Ann
<br />Wischmeier, and my son- in- lmy,Arthur Wischmeier, in equal shares; and the other one -third
<br />(113) of said net income shall be paid share and share alike to the two Missionary Societies
<br />above mentioned. In event of the death of my said son- in- law,his interest in the income shall
<br />cease and thereafter each of my said grandchildren shall receive one -third (1/3) of the-net
<br />income, the other one -third (173) continuing to be divided between the two Missionary Societies
<br />as hereinbefora provided.
<br />E. Upon the death of either grandcY� ild (but in no event while my,said wife and daughter or either
<br />of them are living) one -half (1/2) of the trust estate shall be divided outright among his
<br />or her surviving issue by right of representation, the Women's Foreign Missionary Society of
<br />the First Methodist Episcopal Church of University Place and the Women's Home Missionary
<br />Societ of said church on the following basis: Each surviving child of said deceased grand-
<br />child including by right of representation the surviving issue-of any deceased child of such
<br />grandchild) shall receive one equal share and each of said Missionary Societies shall receive
<br />one equal share. In other ords, it is not my intention that each of said church societies
<br />should receive one -third (173) of said share and that the children or issue of my deceased
<br />grandchild should have but one -third (1/3) thereof to divide among themselves. For example
<br />if said deceased grandchild has three children, all of whom survive him, each of them shall
<br />receive one -fifth of said share and each of said Societies shall receive one -fifth thereof;
<br />if said grandchild has three children, two of whom survive and one of whom predeceased, leaving
<br />issue, each of said surviving children shall receive one fifth of said share, the issue" of the
<br />deceased child shall divide one -fifth by right of representation,-and each of said church
<br />societies shall receive one fifth thereof; and so on. It said grandchild is survived neither
<br />by children nor the issue of children, said one -half share of the trust shall
<br />-2-
<br />be divided equally between the Women's Foreign Missionary Society of the First Methodist
<br />Episcopal Church of University Place and the Women's Home Missionary Society of said Church.
<br />1. The other one -half (1/2) of the trust estate shall be retained by the trustee during the
<br />lifetime of my remaining grandchild. During said period said surviving grandchild shall
<br />receive one -half (1/2) the net income therefrom and the other one -half (1/2) of net income
<br />shall be divided equally among the two Missionary Societies and Arthur Wischmeier; in event
<br />of the death or remarriage of Arthur Wischmeier his portion of the net income shall be paid
<br />to the issue of said surviving issue. Upon the death of said surviving grandehild,(but in
<br />no event while my said wife and daughter or either of them are living), the principal thereof
<br />shall be distributed among said grandchild's surviving issue by right of representation and
<br />said church Missionary Societies, on the same basis as provided in "E" above.
<br />IlI.
<br />The Trustee is authorized to hold and retain as an investment for the trust estate any and
<br />all real estate, securities and other property owned by me during my lifetime.
<br />The Trustee shall assume full management of my farms, collect all the rent therefrom, pay the
<br />expense of operation and management and pay all taxes on or before March let of each year. The
<br />Trustee shall furnish the material to keep the buildings and other improvements on said farms
<br />in good repair at all times. The tenant in each instance is to perform or furnish any labor at
<br />his own expense. Each five years all buildings shall be painted with two coats of paint, the
<br />material to be furnished by the Trustee and the labor to be furnished at his own expense by the
<br />tenant.
<br />All expenses of such farms and other properties, including the Trustee's fees and other
<br />expenses of the trust estate, are to be paid from the income of the trust before any income is
<br />disbursed to any beneficiaries under Article II hereof; and wherever the term "net income" is used
<br />in Article II, its meaning is as defined in this Aricle III. It is my further suggestion that
<br />the Trustee accumulate and keep on hand at all times in a separate farm income account the sum of
<br />$1,000 derived from farm rentals or other farm income as a reserve so that in case of crop failure
<br />or other unexpected adverse development there will be funds available for the payment of taxes and
<br />other expenses.
<br />It is my desire that the farms which I own be retained by the Trustee during the term of this
<br />Trust so that they may be turned over to the beneficiaries at its termination, for it is my
<br />belief that over a period of years said farms will continue to prove a safe investment paying
<br />a reasonable return. Recognizing however, the possibility of changes or developments which
<br />cannot be foreseen at this time, authorize the Trustee to dispose of all or any of said farms
<br />if in its judgment it is for the best interests of the trust and the beneficiaries so to do; but
<br />only upon the express condition that the reasons for said sale are explained to the then benefi-
<br />ciaries of the trust and that such sale is approved in writing by all of the then beneficiaries
<br />of the trust who have attained the age of majority.
<br />Proceeds from the payment or sale of any security or from the sale of any farm land which is
<br />sold in conformity with the provisions of the preceding paragraph shall be invested, reinvested
<br />and kept invested in such securities as are defined by law as legal investments for trusts in the
<br />State of Nebraska.
<br />IV.
<br />The Trustee shall render complete annual statements showing all receipts and disbursements,
<br />and all transactions in the principal account, to the beneficiaries of the trust.
<br />V.
<br />In the event The First Trust Company of Lincoln, Nebraska shall at anytime become a part
<br />of any corporation or shall be merged with another corporation or corporations into a new cor-
<br />poration, or in the event it shall transfer its trust business to The First National Bank of
<br />Lincoln, Nebraska or to another bank which succeeds to the
<br />business of said The First National Bank, then such corporation of which it becomes a part, or
<br />such new corporation created by merger, or said transferee or successor bank, as the case may be,
<br />shall without further act on the part of any Court or person be substituted in the place and
<br />stead of said Trustee herein named and shall have all the rights, powers, duties and liabilities of
<br />said Trustee herein named.
<br />V1.
<br />Nether the principal nor the income of the trust estate shall be liable for the debts of any
<br />beneficiary hereof nor shall the same be subject to seizure by any crdditor of any beneficiary
<br />under any writ or proceeding at law or in equity, and no beneficiary hereunder shall have any
<br />power to sell, assign, transfer, encumber or in any other manner to anticipate or dispose of this
<br />or her interest in the trust estate or the income produced thereby.
<br />V11.
<br />In any case in which the Trustee is required to divide the principal of the trust estate in
<br />parts or shares, or to distrubute the same, it is authorized and empowered in its sold discretion
<br />to make division or distribution in hind, or party in kind and partly in money. The judgment
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