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80002153
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Last modified
1/13/2010 4:18:10 PM
Creation date
1/13/2010 4:17:44 PM
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DEEDS
Inst Number
80002153
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r <br />8Q-~~;,~y..53 <br />The Trustees may at their discretioq because of threatened depreciation <br />in values, or other good and sufficient reason necessary to protect or <br />conserve trust assets, liquidate the assets, distribute and close The <br />Trust and any earlier date determined by them, The Trust shall be <br />proportionately and in a pro rate manner distributed to the beneficiaries, <br />Zn the event this instrument has been recorded with the Register of <br />Deeds, they shall then file with said Recorder a notice that The Trust <br />shall terainate and cease- and thereupon, The Trustees shall automatically <br />be discharged hereunder, PROVIDED, their administration and distrihution <br />have baen mach in accordance with the terms and provisions of THIS <br />TRUST Indenture. Otherwise, a court of equity may be invoked to review <br />and correct any tort oz error. <br />RENEWAL <br />At the expiration of this Agreement the then Trustees, if they so desire <br />and behave that said Trust should sot be closed, may renex this <br />Agreesent for a like or shorter period. A resolution of said renewal <br />shall be entered upon the minutes and also recorded in the Recorder's <br />Office {in the event this Agreement has been recorded) at least 12O <br />days prior to the expiration hereof. Public notice shall ba made in a <br />county newagaper of general circulation not less than fits days prior to <br />the expiration hereof. <br />RESTRZCS'IONS <br />Iiathinq heroin contained shall be construed to authorize The Trust to <br />issue Certific3tea of Beneficial interest in excess of the number herein <br />provided, oar far a nominal value at variance with the provisions hereof, <br />PURPORT <br />The purport of this instrument is La convey property to Trustees, to <br />corsatitute a Truest {Estate) far Lhe benefit of the beneficiaries, held <br />by the Trustees, in Trust and in faint tenancy for the duration hereof, <br />and to provide far a purdent and economical adminstrataan by natural <br />persons acting in a fiduciary capacity, to BECZN AT ONCE and not to tze <br />deferred until after the death of any creator, settlor or maker, as <br />occurs when such 'Trust Estates are created by Last hill and Testament, <br />the settlars, creators ar makers of this covenant preferring that The <br />"lruatees act solely within their constitutional rights as based upon their <br />coon law rights and immunities vouchsafed to citizens of the United <br />5tatef of Aserica ansi defined in Article ZV, Section 2 PROVIDING, that <br />`=~2tizens of each state shall be entitled to all privileges and immunities <br />of _i!i2ens in the several states, and Article t~Z, Section Z, PROVIDING, <br />that "'14te Canatitutron of the United States and the laws made ;n <br />puranance thereof shall be the supreme law of the land;" and the lAth <br />anelldmelfi thereof, PROL°ZI;ZNG, the "Na state shall make or enforce any <br />law wifich shall abridge the privileges or .immunities of citizens ..g <br />the ikfited States.° The A*3ministration wf TktZS TRUST snail be :amenable <br />to judicial. regulation on occasion arising and ursr9er t:3e paternalism <br />said protection of the court. Litatsons applaeable and various rulings <br />pertainiaq to Trust Estates and constitutional rights caf contract and <br />Colleetive hargaininq texcept copartnership r~.:lativnship, ::hick is not. <br />applicabl#) eay be found in case lav which is appl±cablz. <br /> <br /> <br />t,.... <br />
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