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201605747
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201605747
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Last modified
7/3/2017 5:40:35 PM
Creation date
9/2/2016 10:45:43 AM
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DEEDS
Inst Number
201605747
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Beneficiary, will revert to the residue of this Living Trust. <br />20160574'7 <br />Page 6 of 15 <br />20. If all of the successor Beneficiaries do not survive the Grantors by at least thirty (30) days and <br />do not leave an heir or issue who survive the Grantors by at least thirty (30) days, then all of the <br />remaining property in this Living Trust, of whatever kind and character, and wherever located, <br />will revert to the estate of the last surviving Grantor. <br />21. If any of the real property to be distributed in this Living Trust remains subject to a mortgage at <br />the time of the Final Distribution, then the Beneficiary taking that mortgaged property will take <br />that property subject to that mortgage and the Beneficiary will not be entitled to have the <br />mortgage paid out or resolved from the remaining assets or residue of this Living Trust. <br />22. If any of the personal property to be distributed in this Living Trust is subject to any <br />encumbrances or liens at the time of the Final Distribution, then the Beneficiary taking that <br />property will take that property subject to those encumbrances or liens and the Beneficiary will <br />not be entitled to have any encumbrance or lien paid out or resolved from the remaining assets or <br />residue of this Living Trust. <br />Trustee Bond <br />23. Subject to the laws of the State of Nebraska and any other applicable jurisdiction, no bond or <br />security of any kind will be required of any Trustee appointed in this Living Trust agreement. <br />Trustee Liability <br />24. The Trustee will not be liable to this Living Trust, the Grantors or to the Beneficiaries for any <br />action or failure to act resulting in loss or harm to this Living Trust, the Grantors or to the <br />Beneficiaries except in the case of gross negligence, willful misconduct, or reckless indifference <br />to the purposes of the trust or the interests of the Beneficiaries. A Trustee will only be <br />responsible for his or her own acts and no Trustee will be liable for any act or actions occurring <br />in the periods before or after the tenure of that Trustee. Any outstanding liabilities of a dead, <br />resigning or removed Trustee are not discharged or affected by the Trustee's death, resignation <br />or removal. <br />
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