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200901122
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2/17/2009 3:46:36 PM
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2/17/2009 3:46:35 PM
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DEEDS
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200901122
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<br />200901122 <br /> <br />5. Trustees' powers upon termination. The title, powers, duties, and discretions <br />conferred upon the Trustees shall continue, after the termination of this trust, until final <br />distribution of the;trust estate. <br /> <br />6. Limitation on powers. Notwithstanding anything herein contained to the contrary, <br />no powers accorded to the Trustees shall be construed to enable any person, whether Grantor, <br />Trustee, beneficiary, or otherwise, to purchase, exchange, or otherwise deal with or dispose of <br />the capital or income of the trust estate for less than an adequate or full consideration in money <br />or money's worth; or to borrow the capital or income of the trust estate, directly or indirectly, <br />without adequate interest or security. No person, other than the Trustees, shall have or exercise <br />the power to vote or direct the voting of any corporate shares or other securities of the trust <br />estate, to control the investment of the trust estate either by directing investments or <br />reinvestments or by vetoing proposed investments or reinvestments, or to reacquire or exchange <br />any property of the trust estate by substituting other property of an equivalent value. <br /> <br />7. Action by majority of trustees. In all cases in which the Trustees are empowered to <br />do any act, a majority of them shall have power to make any decision, undertake any action, or <br />execute any documents affecting the trust estate, and the acts of such majority shall be binding <br />upon the trust estate and all persons interested therein. <br /> <br />8. Successor trustees. Any successor Trustee shall have all the same rights, privileges, <br />powers and immunities, and shall be subject to all of the duties, herein conferred and imposed <br />upon the Trustees. Notwithstanding anything to the contrary herein contained, neither the <br />Grantor nor the spouse of the Grantor shall ever be elected a successor Trustee hereunder. The <br />successor Trustees have been appointed pursuant to the powers ofthe Trust on March 6, 2008, <br />and are attached hereto as exhibit A. <br /> <br />9. Accounting by trustees. The Trustees may at any time render an account oftheir <br />acts to Grace N .Engel, who shall have the full power to settle any such account and, upon the <br />basis thereof, to discharge the Trustees from all liability for acts and omissions concerning all <br />matters embraced in such account. Such settlement and discharge shall be binding upon all <br />persons, even in then under legal disability or unborn, and shall have the same force and effect as <br />a final decree of a,court of competent jurisdiction in which all necessary and proper parties are <br />present and represented. Nothing herein, however, shall preclude the Trustees from having their <br />accounts judicially settled whenever they deem such a settlement advisable. <br /> <br />10. COIT}-pensation of trustees. Each Trustee shall be entitled to reasonable <br />compensation for ~his services hereunder, but in no event shall such compensation exceed the <br />commissions allowed from time to time by the laws of the State of Nebraska to a sole <br />testamentary trustee for performing similar services. <br /> <br />11. Spendthrift provision. No beneficiary of this trust shall have any right to alienate, <br />encumber, or hypothecate his interest in the capital or income of the trust estate in any manner <br />nor shall such interest of any beneficiary be subject to claims of his or her creditors or liable to <br />attachment, execu;tion, or other process of law. Nothing contained in this paragraph shall be <br />
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