|
i
<br />81--~jr~~35 ~~
<br />1 F. If any bank should serve as Trustee hereunder, then any corporate
<br />successor to the business of said bank, whether by reorganization or other-
<br />2 wise, shall become and be Trustee hereunder with like effect as though origi-
<br />nally named as such herein.
<br />3
<br />~. Any successor Trustee shall have all of the rights, powers, duties
<br />A and responsibilities as though originally named as such herein, but shall not
<br />be liable for any act of a prior or subsequent Trustee. Each Trustee serving
<br />5 under the terms of this Trust Agreement shall be permitted to qualify and
<br />serve without bond.
<br />6
<br />7 , ARTICLE Id. POGtERS AND DUTIES OF TRUSTEE
<br />8 A. The Trustee shall have all such rights, powers and discretions as
<br />may be necessary or appropriate for effective administration of the trust
<br />9 created hereby, and may exercise every power with respect to each item of
<br />property in the trust estate, both real and personal, that an individual
<br />1Q owner could exercise with respect to such property if owned outright in fee
<br />simple or otherwise by such individual. without limiting the generality of
<br />11 the foregoing, the Trustee shall have, and in the sole discretion of the
<br />Trustee may exercise, any and all of the rights, powers and discretians as
<br />I2 may be necessary or appropriate for effective administration of the trust
<br />created hereby, including, but not limited to, the following:
<br />13
<br />1. The Trustee may pay, reject or compromise any and all
<br />14 ~~ taxes, debts, and claims of all ki~ids agairst this trust or
<br />~ the t~+1st estate, and may pay alI reasonable and necessary
<br />15 ~, costs incurred in administerittg the trust estate.
<br />t
<br />16 ~~ 2. The Trustee may insure, improve, partition, pledge,
<br />III sail at public or private sale, mortgage, convey, transfer
<br />it ~~ and lease all or any part of the trust estate, upon such
<br />terms and conditions and for such considerations as the
<br />18 ,i Trustee may dean advisable. Any tease, option, or any other
<br />!' contract may be for any period or periods of time, even
<br />19 though such period or periods extend beyond the date an which
<br />J this trust terminates.
<br />~ ;I
<br />3. The Trustee may retain, exchange, invest and reinvest
<br />Z1 !i in real and personal property of all kinds, including, but
<br />1. not limited ta, stocks, bonds, notes, and other securities
<br />22 ii of whatsoever kind.
<br />23 j 4. The Trustee may vote upon stocks by proxy or other-
<br />wise, and may participate fully in corporate reorganizations
<br />2fi ~~ and readjusterertts.
<br />25 Ii 5. The Trustee may determine all questions with respect
<br />"' to the manner in which the receipts and disbursements
<br />26 ~i (including distributions to beneficiaries] are to be alio-
<br />!~ cated as between principal and income.
<br />27
<br />6. If the Trustee is a bank, the Trustee may advance
<br />28 ~! and lend the private money of the Trustee to this trust, and
<br />~s borrow money for this trust, and encumber by pledge, mortgage
<br />29 li or deed of trust any property in this trust at prevailing
<br />} rates of interest. If the Trustee makes any such advancement,
<br />F the mount of such advartcemertt and interest thereon may be
<br />charged as a first lien, or as any other lien, against *_he
<br />31 #~ trust estate.
<br />32 ~ 7. If the Trustee is a bank, the Trustee may mingle funds
<br />~,~ ~~~ l~
<br />b1kt9UiNiY. EpAtiS t~
<br />d Ati.ftH6 t
<br />i~
<br />
<br />
|