80002153 - Laserfiche WebLink

Browse

~~-- +2153 ADMINISTRATION The Trustees shall regard this instrument as their sufficient guide, supplee~emted frow tine to time by their resolutions tSaid resolution to be ratified ALi@~YS by a M11.73RITY of Lhe Trustees then in office and participating in the issuing meeting) covering contingencies as they arise and are recorded in tP:e uinutes of their meetings, which are they by-laws, rules and regulations of THIS TRUST. OFFIClsR5 AND MANAGEMENT The Trustaes nay in their discretion elect among their number a President, Secretary and Treasurer, or any other officers they may doe= expedient for proper functioning. Any Trustee may hold two, ar wors, offices siwuitaneously, their duties being such as are usual ar are prescribed. Spey ~aay employ agents, executives, or other employees, or designate third persons to hold funds far specific purposes. EXP~DITURES fine Trustees shall fix and pay compensation of alt officers, employees oz agents in Lhesir discretion, and may pay themselves such reasonable evapensatian far their services as may be determined by a MAJORITY of the Hoard of Trustees. :INSTRUCTION fihe TrusiNS, officers, agents or employees possess only such authority as ar~r'ded thew herein. Authority is understood and meant to be similar to that ararded an axecutaz of an estate wherein the testator directs dil2ustraLion?: "tbat ny Executor is directed to handle the estate in the maaaer he thinks to be in the bent interest, limited by the terms h*rao#, ~rit-taut the necessity of resort to the court foz permission or approval of any transaction, intending herein to leave open for the court L3*_e question of conscientious dealing of ny Executor only." 2RVSTF..E'S -ECS~RATION OF P;JRPOS£ OF THIS F.'XPRESS EQUITY PURE TRUST TH$ D$i'3~1RED PidRPOSE OF THE TRUSTEES OF `PHIS TRUST steal, he to accept rights, title and interest in and to real and personal properties, rh~ther tangible or intangible, conveyed by THE CREATOR HEREOF AND ~GRA!"l~Q~It HSIRS3R? to be the carpus of THIS TRUST. 'if% TRUSTEES HY their resolution t+f purpose may perform and functaan to> .env purpose rsn behalf a# arty in~vidual, group or ~:ombinatzon oaf indi•:~iciuals, severally ar collectavely. IN Si.~7 INSTANCES She pavers and authority of The Tres*_ees shalt be defined and limited Lo the genera! purposes set Earth by *_he T3eclaratac3n of Trust and The 3's^stste+es 3~claratian of Purpose. THE TRUST SHALT. flaw ~ctlwrity to provide itselz with aperat:.nq funds through eommezcial loose, directly secured by assets or inenae of THE TRUST, provided such aot3~ority is passesssd, in +rriting, from the Saard of Trustees of TlFiS 2"lt~. J