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��14���37 <br /> DEE� �F TF�U�T <br /> [�.��r� n��: �������� ���r��ir����� ���� � <br /> 1��tw��r� L�n��r �nd T�u���rr ��ta�] ��n�tst�t� � v��iuer�� ar��+ �� L�r�d��r'� ri�hts �r �f �ny of Tr��t�r's �bli�ati�r�� <br /> �� t� �n���a#u�� ���r���c�i�r�s. �ll�h�r,���r th,� ��n��nt a�f L�n��r i� r��r�ir�� �n�[�r�hEs �eed �f�T'ru�t� tF�� gr�r�ti r,� <br /> �f�u�I� ��n��nt L�y L�n�l�r i n �r��r in������ �h��l r,�� c�r��tit�t� ��rttin�i�� ��n��r�t t� s�b��qu�nt i�st�r���� v�rh�r� <br /> s��h Gon���t is r��uir�d �r�d ir� a[] ��s���u�[� ��n�en�may b��r�nt���r vtiri�f�held ir�the s�l� �li��r�ti�n��L�r�d��'� <br /> S�rr�r�l��l�. If� ���rt �f ��m��t�nt j uri��i�ti�n �in�� �ny �r��isi�r� ��th i� a���] �f Tru���t� �� il l��alr ir�val i�r �� <br /> �n�r���r����[� �s t� �ny �ir�urr����r���, ��a� fir,din� �h�[I n�t rr��[�� th� �ff�r��iin� �r��risi�n il[�g��� �nvalic�, �r <br /> �r��n��r����[� �s t� �r�y �fi��r �ir�um�t�r���. [� �����}a��, th� �ff�r��ir�g pr�vi�i�r� �F��il E�� ��nsid�r�d rn��i�ri�d �� <br /> t�a� it ����m�� C���]r v��id �r�� �r�f�rc���[�. I� th� �ff�n�ir�� pr��risi�r� �ann�t b� �� m��li�i��r it �h�El b� <br /> ����i��r�d d�l�t�d �ram thi� ���d �f �r���. �nl��� ����rwi�� r�quir��l ��r la�v�r f th� 1I����It�1 invalidit�rf �r <br /> un�n��r����ili�y ���ny �r�vi�i�� ���)�ts ���d �f Tru�t�h�]C n�t �ff��t�h� [���lityf v�lidi�y �r�n��r���biCity Q� �ny <br /> �t��r pr��ris3�r��f this I���d �f Tru��. <br /> ��������r� �n� As�i�ns� �ul����t t� �r�y lirr�it�ti�n� ���t�� �n th�� ���� �f�i ru�t �� t��nsf�r �f Tr��t�rr� int�r��tr <br /> tl�i� ���d �f Tru�t ��a�] 1�� bindin� �a��n �r�� �r�+�r� �Q th� ��r���Fi� �f�1�� �arti��, tl�eir �u�������� and ���i�ns. f� <br /> awn�r�hi� �f tF�� �r���rt� ����m�s �r�st�� in a p�r��n �th�r tl�an Trr��t�rf ��n��rr vtiri�hQ��n��i�� t�Tru�t�r� rn�y <br /> ��a! v�ri�h Tr�st�r'���r��e���rs �+r i�E� ��f�r�r,ce t�tl�i� a e�� �f�r�st����h� In��bt��n�ss �y�r�y�f fi�rb��r�r��� �r <br /> ���r,sia r� vtir i��►�Ut r�l���i ng�rr����r fr�m t1���b�i�at��n��f th i� ���� ��Tr�s��r 1 i��ili#y ur���r tl�� I r����t��r�es�. <br /> Tirrr�i�af th� E���n��. Tim�i��f-th� es��nce i n th���rf�r��n���f ti�is D��ci��Tru��. <br /> Vlf�iv�,lury� �11 ��rt���t�this D��� �f Tru�� I��r�b�waiv��h� rio�h#t� �c�y j��ry�r��y rn �n�►��tiQn� �r����ding, �r <br /> ��un��r�l�im �r�ua�ht[�y�n�p�rky��ainst an�r�th����rt�. <br /> �Ifaiv�r �f H�r������� �er�ption. Tru�t�r ��r��y r�[����s �r�� w�iv�� �IE righ�s an� b��e#it� �� t�� h�m��t���[ <br /> ���rri�tiar� �������h� �t�t� �f N�k�ra�}�a a�t��[� ]n��k�t��n���s���r�� b�r#h:� ���tf��Trust. <br /> F���INITI�N�. Th��F�[]�v�rin� ��pit�Ci���[ w�r�€� ar�d t�rm� �hal! h��r�tf��f�El�win� r���r,ing� v�rh�r� u��� i�th�� ���d �f <br /> Yr�s�. �nl�s� ����ifi��lly�t�t�� ta th� ��ntr�ryr �l� r�f�r�n��� �� �i�I[�r �m��nts sh�I� m��n �rn�u�ts i r, I���uE ��r���r <br /> a� th� ��it��i �tat�s �f Am�ric�. Vlf�rds �r��f t���s u��d i� th� �in�ular sh�l[ i��[ud� th� plura[F an�i tf�� p[+�r�E �h�ll <br /> Er�clud� tl�� sir��ul�r, �� �h� ��r����cfi rr��y r��uir�. �ll��r�� �n� #�rms ��t �tl��rw��� �f��ir��d i� tl�is ���� ���rr��t �h�lf <br /> h�v�th�rr���nar�����tri�u���l�� �u�l�t�rr��ir�tf�� �JnEf�rm ��mm�r�i�� ��d�: <br /> B�n�fi�'r�ry. Tl����rd "��r��fi�i�ry" m��n� E�uita�I� B�nf�, �r�� it�������s�r��r�d ��sigr�s� <br /> ��rr�w�r. �h�v��rd "��rr�v��r" m�an� LA���N ��N�TF�I�����Nf [[��. �r�� in�[ud�� a�l ��-�i�n�rs �n� ��-mal��r� <br /> s i�ni ng�t�ne l��t��nd �ll thei r�u�c�s��r�an� ���i�ns. <br /> ���� Q� �`rus�. TF�� �var�s "D��� �f Tru��" m�an thi� ���� �f �ru�� �rr��r�g Tru��t�rr L�r,d�r� ��,d Tru�t��r �n� <br /> i r��l ud�� vvitf�a�t ]i r�it�ti�r� a I! assi��m�r�# �r�d s��uri�r i�t�r��t �r�v�s i�r�s r�latin� t� th� ��rsQr��l �r���r� �r�d <br /> R�nts. <br /> ��f��[t. T��v�r�r� "a��a ul�" ���n�#h� E��f�u It���f�rtl�i r��i�i�I���� �f T�u��in t�n����ti�r�tit[�� "��f��lt". <br /> Er�vir�r�m�n�a[ Law�, `�h� ��rd� "Er�vir�r�m�r�t�f Lav�r�" m�an any �r�d �[I ���t�F f��[�r�] �r�� l�c�l statu��sr <br /> r���I��i�r�s �r,d �r�i�t�n c�s r�latin� t� �h� �r���G�i�n ��r l�urr��r� h�a[tl� �r th� ��vi��nm�nt, i n�l u�in� �v it���t <br /> [imitati�n th� ��mpr�C��n�iv� Er�vir�r��r,�r�taf F���p�n��t �arr�p�ns�ti�nr �r�+� I�i��rli�y A�� �f ����, �s �me����� �� <br /> U.�.C. ���ti�n ���'1 r �� s�q. �„�ER�LA"), ��� ��p�rf ur�d Arr��n�lrrt�r�t� �r,d R��u�h�ri�atE�n A�t�f 1�$�r P��. L. <br /> N a. ��-��� {"�A�A"}f�1�� H a��rd�u� 1�11 at�ri�[�Trar��p�r�a�i�n A�tr �� lJ.�.�. ���ti�r� ����[f �t���.���� F��s�ur�� <br /> ��r���r��tian �n� R��av�r�r A�t, �� U.�.�. ��c�i�r� �9��, �t ���., �r�t�t�� a��l i��bi�st��� �r f���r�l l�wsr rul��� <br /> �r r���[��i�ns ��i��t��] �o�r�uant th�r�t�. <br /> Ev�nt�f�����I�. Ti��v►r�r�� "Ev�n��f I��f��tlt"'m��r� �ny�f tC���v�nt��f�1����Ct���f�r�h in tf�is ���d�f Tr�tst in <br /> tC����r�n�s �f d�f�ult���ti���f t�iis ����1 ��r Trust� <br /> ��aar�ri��r. Th� v�ra�� "Guarar���r" m��ns �ny �u�r�r,t�r� sur�ty, �r ����mrrt��ati�n p�rty o� �ny �r �[I �# tl�� <br /> [nd����d��s�. <br /> ��aranty. TY�� �r�rd "�r��rant�" m��r�s t�+� �u��ar�ty #r�m �u�r�r,��r t� L�r�d��, irr��u�lin� wi�C��u� lirnita�i�r� � <br /> �u�r�r��r���11 �r��rt�#tl�� N�t�. <br /> H��ar€[�r�s �r�bs#�n���. TI�� w��ds "H��ard�us ��a�s��n��s" rr��ar� rr��t�rE�ls th�t� ���ar��� �� th�ir ���nti�yF <br /> ��r���r�tr�ti�n �r �h�si��l, �h�mi��l �r ir�fe�ti�u� cf��ra�t��isti��, m��r ����� �r ���� a �r�s�r�# �r ��t�n�i�l ha��r� <br /> t� h�rr�a n h�al�h�r�f���r��ir�r�m�r��w h�n irr�pr�p�rC�r�s��{tr��t��� �to r��� dis��s�d �-Ff ��n�rat��]r rn�n�f����r�d, <br /> tr�r����rt�� �r ��h��v�ris� h�n�l��. Th� �v�rd� "H�zard�us �ub�tan���" �r� ���� in �i��ir r��ry br���i�st ��ns� �r�d <br /> in�l��� v�ith��t lirrii��ti�r� �rty �n� �ll h��ard�u� �r #Q�c�� ��l�star,��s� m�t�ri�l� �r �n+��t� as d�f n�� �y �� f i���� <br /> ur�d�r�h� �r��i ran m���al L�v��. Th,�#�rm "H��ard�u� �u�st�n����` �I��i n���d�s� v�rith��t Irrn it�ti�r�f ��tr�ler�m an� <br /> ���r�l�r�m �y-�r�duc���r�n�r€ra�t��n th�r��f a n� ��be����. <br /> lrr�pr�v�rrr�r�#�. The v�r�rd "l�pr�v�m�r�ts" m�ar�� �I1 ��istin� �r�d �ut�r� im�r���m�r�t�f �t�ildir���f stru�t�r��F <br /> m��i[� ��m�� ��i��ci �r� tl�� F���� �r�p�r�y, f��i[i-ti��� ad�fiti�r��� ���la��m�r��� �r�� �tl��r ��nstr��ti�n or� tf�� f���] <br /> �r���rt�. <br /> l�d��t�dn���. T�� w�r� �`[r�d�l��edn�s�" m��ns �[1 �rir��ipa1� i nt�r��tr �rtd �t��r �m�unt�, ����s �n� �xpens�s <br /> }�a�abl� u r�d�r t�i� N�t� �r R�����d D��uments, t�����t�r v�ith �[1 r�n���Es ❑�� �x�tert�ia n� �f, m�difi�ati�n� �f, <br /> ��n��li��ti�ns ��an� suL�sti�uti�r�s f��th� N�t� �r ��I���� �oc�rt��r�t� �rtd �r��r�mar�nts ��cp�r+��� �r a�van��d �y <br /> L�nd�r t� disc�i�r�� Tru�t�r'� �b[i��ti�ns �r �������s in�urr�� �y Tru���� ar L���l�r t� �rrf�r�� Tr��-t�rr� <br /> ��[i��-ti�n� un��r thi� ���� �f Tru�tr ���e�h�� �nr��h int�r�s� �r� su�}� �rn�u��� �� �r�vi���i in tF�i� E�eed �f �rrast. <br /> ����ifi��lly� v�ith�ut limi���i�n� l�deht��ir���� ir��lud�� t�� fu��r� adva�n��s s�t f�rt� in tl�� F�t�r� A�ivan��s <br /> �r�v�si�n, to��th�r v�i�i� �ll int����� �herean and �11 �m��r�t� th�t ��y E�� in�ir���tly s��vr�d f�y tf�� <br /> �r�s�-�a11���r�li��ti�n �ravi���n�f tE�is a��d af Tr��t. <br /> L��,d�r. The v�r�rd "L�r���r" m��r�� �c��i��b[� �anC�f its s����ss�rs�n� ���i�n�. <br /> N��e. Ti f��v��r�i �'N���" rn��n��h� �r�mEs���y r�����i�t�d A�ril 7f ���1�r Iri t�� ����1��� �rl�iGl�3�l �I�"���n� �� <br /> ����i��$_�� f r�rn Tr�st�r t� L�n��rr �����her �r i�� �!1 r�r�e�nr�[� �fr �xt�n�i�n� ��r CY��Cj[�]���E�I�S �fr <br /> r�fi�a�cir��s�fr �or���li���i�n���, �nd�u�s�itut�.�r�s f�r the pr�Eni���ry��t��r��r��rr��r�t. <br /> P�r����� PrQ�erty. ^fhe �rtir�rds "P�r�at�al I�r���rky'� rr��an �IE �qui��',�ntl fi�tur��r �n�i ��her arti�l�s �f ��rs�n�! <br /> pr���r��r r���nr �� h��r����� ��rv ned �y Tr�st�r, a�td n�v� �� h�r����r a��cE��� �r affix�� t� �h� F���1 Pr�p�rtyr <br /> t������r �nri�h ail ����ssi���r partsr �n� ���ii�i�n� to� �l� r�pE��em���� ��, �r�� �I! �ul��tit�rti�ns f�r� �r�y �� ���� <br /> pr��er�r; an� t����h�r �vvith al� �r�����is �in�����r�� ,nri�h�ut limita�i�r� �][ ir,sur�rr�� pr������ and r��un�[� �f <br /> }�r�mi�m�� frarr��r�y s�[��r�tf��r�ii�p��i�i�n o��th�������. <br /> Prap�rty. T}��v�r�rd "Pr�p�r�y" m��n���ll���ir��ly t�i� i���l Pr�p�rk�and t}�e ���s�r��i �r���rt�r. <br /> F���1 ���p�r�y. T�e �r�rd� "F���� �����r�" m��r��h� r�a] pr�pe�tyr i�t�r��t� an� ri�htst �� f�r�her��s�rii��� irt�hi� <br /> D��� a�Tru�t� <br /> ��I����i C������r�#�. Th� �vards "F��l�t�� a�����nt�" mean aC� prarr�i�s�r� r,�t��, �r��it ��r��ments� I��r� <br /> ��r��m�n�t�r �r��i��t�m�r���l �����m�n��, g�arantE��� s���rity �����m�n��� ma rt�a��s, d���{s �f trr��t� �e����#y <br /> ���+��f ��I I�t�r�[ ma rt�a��sr �r�� �l C ��h�r in�trr�m��n�s� a�r��rn�n�� �r�d c���ur��r�#�r �nrf���h�r n�� �r F��r���t�r <br />