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200305298
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Last modified
10/15/2011 9:38:44 PM
Creation date
10/21/2005 5:18:30 PM
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DEEDS
Inst Number
200305298
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:200305298 <br />(e) Payments to Disabled Persons: Make payments to beneficiaries under a <br />disability by payments directly to such beneficiaries or to their parents, custodian, person with <br />whom they reside or legal guardian, or to expend such payments on their behalf. <br />(f) Resignations: Resign at any time as Trustee of any or all of the trusts <br />created by this instrument without court proceedings by delivering a written notice of resignation <br />to the beneficiaries who are then entitled to the trust income or for whom income is then being <br />accumulated. The majority of the adult income beneficiaries shall then be empowered to name a <br />successor trustee without court proceedings if a successor is not otherwise provided for under the <br />terms hereof. <br />(g) Securities Law: Determine whether any transaction, if consummated, <br />would violate, or might reasonably be expected to violate, any securities law and to refrain from <br />action accordingly without liability to any beneficiary. <br />(h) Insurance as Asset: Retain as an asset of the trust any insurance policy on <br />the life of the Trustor. Acquire as an asset of the trust a life insurance policy on the life of any <br />person in whom an income beneficiary has an insurable interest from such companies and in such <br />amounts as the Trustee deems advisable. Pay premiums on all such insurance policies from <br />income, principal or both, as the Trustee may determine and cause all incidents of ownership to <br />be vested in the Trustee, including designation of the Trustee as beneficiary. <br />(i) Insurance Proceeds: Take such action as deemed best to collect the <br />proceeds of life insurance payable to the Trustee. The Trustee may pay the expenses of collection <br />from the trust estate but need not enter into or maintain any litigation to enforce payment on any <br />policy until indemnified to the Trustee's satisfaction against all expenses and liabilities to which <br />he might be subjected. The Trustee may release the insurance company for liability under any <br />policy and may make any compromise that the Trustee deems proper. <br />0) Distribution: Make distributions in cash, in kind or both in cash or in <br />kind, in shares that may be composed differently, and to do so without regard to the income tax <br />basis of specific property allocated to any beneficiary (including any trust). <br />(k) Purchase, Sale and Lease: Invest and reinvest the property of any trust <br />created hereunder and to acquire, sell and lease any form of property to be held in trust or <br />distributed by the Trustee. Without limiting the generality of the foregoing, the Trustee is <br />authorized to buy, sell and lease such property through brokers of the Trustee's choice (subject <br />to using due care in the selection of such brokers) and to pay the usual and customary charges. <br />(1) Loans to Beneficiaries: Assist in any financial emergency that may <br />confront an income beneficiary that such beneficiary cannot, on evidence satisfactory to the <br />Trustee, meet from his or her own resources. The Trustee may, but is not required to, loan trust <br />funds to such beneficiary on such terms and conditions as the Trustee shall determine. Such loans <br />may also be made to contingent beneficiaries or remaindermen if all income beneficiaries give <br />JG: \LAWTYPE \EL \1WR \ESTATEPLANNING\ CLIENTS \STOVER \REALESTATETRUST.DOC) -3- <br />i <br />G <br />
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