Will & Decree
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7/22/2014 2:26:39 PM
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the property, or in other income-producing real or personal pro- <br /> perty, without being bound by statutory restrictions for in- <br /> vestments; provided that such additional proce�ds, so invested, <br /> shall become a part of the principal of the trust. My trustee <br /> shall also have such further additional powers of administration, <br /> management, investment, control and distribution, which are nec- <br /> essary or desirable in order to carry out the provisions of this <br /> trust. All such powers of the trustee are to be broadly construed <br /> and may be exercised in the sole discretion of the trustee, with- <br /> out authorization or approval of any Court, in any manner, to any <br /> extent, and upon any terms. Notwithstanding the foregoing provi- <br /> sions of this sub-paragraph, said provisions are subject to these <br /> express limitations, namely: that no part o£ the net income shall <br /> be used for capital improvement of the property of the trust, un- <br /> less the life beneficiary of the trust, or her legal representative, <br /> consents in writing to such use, and further, that my trustee shall <br /> not have authority to exercise any power the exercise of which would <br /> cause the net income of the trust to be taxed to him. <br /> d. I expressly direct that my trustee, whether my son, <br /> Earl W. Glenn, is or is not serving as such trsutee, shall first <br /> offer to lease the property of this trust to the said Earl 4V. Glenn, <br /> upon the usual farm rental terms for such property in such community, <br /> as such terms may exist from time to time, for as long a time as <br /> he desires to lease said property. In the event that the said Earl <br /> W� Glenn at any time fails to lease said property, then I direct <br /> " that my trustee shall next offer it to my son, Elmer E. Glenn, �hether <br /> or not he is then serving as trustee, on the same terms, and for <br /> as long a time as he may desire to lease it. In the further event <br /> Elmer E. Glenn also fails to lease said property, then I ,direct that <br /> my trustee shall next offer to lease said property, on the same terms, <br /> to my daughter, Stella Glenn Schroeder, whether or not she is then <br /> serving as trustee, for as long a time as she may desire to lease it. <br /> In the event that none of the foregoing children of mine lease said <br /> Page 5 of my LAST WILL AND TESTAMENT Wesley D Glenn <br /> Witnesses Initials J J B C B P B.H .P. Jr. <br /> s ,� <br />
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