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<br />`' hereby specifically bequeath unto my said son Leo Petersen. By the
<br /> term "personal effects", I mean sma11 chatteY articles of nominal
<br /> value .only, w:�ich I usually ca.rry about on my person or which:I ma.y
<br /> keep in my home for my own personal use and convenience; said term
<br /> "Personal effects" shall not include any money, bank accounts., evidence
<br /> ; of indebtedness to me, stocks, bonds or any, other things of material
<br /> va.lue more than nominal. I also-herewith bequeath unto mg sa.id wife,
<br /> the personal or family au�tomobile whi.ch I may' own at the time of my
<br /> death.
<br /> III.
<br /> "In the event my son Leo Petersen shall desire to purchase any
<br /> or all of my shares of stock of Nielsen & Petersen, Inc., of Grand
<br /> Island, Nebraska, or any of the assets of said corporation, within one
<br />� year from the date of my death, I do in such event hereby expressTy
<br /> authorize and direct said Executor to sell the same to him for such sum
<br /> as shall be determined to be the fair and reasonable market va.lue thereof
<br />� at the time of my death by tlie appraisers for Inheritance Tax purposes
<br />� appointed by the Court having jurisdiction over the administration of my
<br />' estate; such purchase price sha11 be due and payable to my Exeeutor, or
<br /> his assigns, seven years from the date of my death with interest at four
<br /> I (4%) percent per annum from the date of death, which�obligation or obliga-�
<br />� tions shall be evidenced b a
<br />` y ppropriate written instruments secured by my
<br />� said son Leo, as purchaser in such manner as the Countg Judge of Hall_
<br />' County, Nebraska, may require, and the purchaser is hereby given the right
<br /> to prepay said obligation prior to its due date and thereby stop .the run=
<br />' � ning of interest on such prepayment from and after the date of making such
<br /> prepayrnent. The interest herein provided on said obligation shall be pay-
<br /> able semi-annually. This po�aer to purchase hereby given my said son Leo
<br /> is an absolute power and the fact that he is named Executor of this Wil.l =
<br /> _ and will be acting as such executor at the time such purchase is contem- �
<br /> plated and provided for, shall in no way disqua.lify him from the right to
<br /> exercise said power of. purchase from my estate, nor shall the fact that
<br /> - he might be a Trustee receiving any part of my estate `in any way disqual-' ' k
<br /> ify him personally from exercising such power of purchase of my snares
<br /> of stocic in Nielsen & Petersenr Ir_c., or ariy of said corporation' s assets.
<br /> IV.
<br /> "I hereby direct my sa.id Executor out of my estate to pay all Federal
<br /> Estate Tax, State Estate Tax, and Inheritance Taxes which shall become
<br /> paya.ble on account of my death, and none of such taxes shall be charged �{
<br /> against the share of my estate passing to my said widow E1sie C. Petersen. ��
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<br /> i.,
<br /> V. 4�Y
<br /> "All the rest, residue and rema.inder of my estate of ever.y nature ' ��
<br /> whatsoever I hereby devise and be.quea.th as follows:
<br /> A. An undivided one-fourth thereof to my son Leo petersen .and my y;
<br /> daughter Elsie H. Reents� as Trustees, in trust f or the followinq uses � �"�
<br /> and purposess ,;�
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<br /> Said Trustees sha.11,Qpera.te and mana.ge the assets and properties ;�i�
<br /> becoming a part of this Trust,' be the same real estate,_ personal pro- `;�
<br /> perty or mixed property� and shall pay a11 income from said Trust in �:�
<br /> quarterly payments to my d�ar wife, Elsie C. ,Pete�sen, subject only to !`�j
<br /> deduction .therefrom of such expenses of administrating ,this Trust as
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<br /> may be allowed, or allowabl.e, 'under 5tate and Federal Laws, including t.
<br /> the Marital Deduction Provisions of the Federal,Code and Regulati"on.s
<br /> pertaining to Federal Estate Tax. Any undistributed incoxne attribut- ' �
<br /> able to this Trust on hand at the time of the death of my said wi:fe, '';
<br /> shall pass with the corpus as hereinafter provided: I hereby expr�ssl:y ' '
<br /> grant unto my dear wife ail of' said income under th� terms above stated, , ' ,,;'�
<br /> and further hereby grant unto.her the right to withdraw=�rcim;the .corpus '
<br /> of said .Trust in addition to said income ariy 'sum up to,$5�0"00.00 i� any `�1
<br /> fiscal year, but such right of withdrawal shall not' be cumulative. I
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<br /> hereby direct said Trustees to-,pay to rny wife such;prix�ctpal or corpu¢s ! ti�'�,`,�'CI
<br /> withdrawals last hereinbefore set forth upon her reQues�, �. Mg_�x�cutox.: `�r'�;�'
<br /> �and Trustees are hereby directed� any prov3s;�ons l�er�s.n iwh:�ch,migh� b�-� ; �����ti;;
<br /> construed to the contrary�_notwiths�tandirig� �to'���assign ox' set, ,,a�ide. ,out ��� � 3�i,�;�'
<br /> of the assefis. of my estate and in�o� the corpus of �.his 'Trust,`, ��,1y suGh �`�
<br /> properties or assets`as wiil .qual�fy� fox:ths Mari�al k-i�educt3.pn ur�cle� t�i�, '{, ����'�
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