HomeMy WebLinkAbout0874 hereunder ahall be governed and controlled by the follow- ~
ing provisions: ~
~ l. The Truates ahall have the following po~~ers,
and any othera that may be grant~d by law, xitln re- ~
spect to each tiust hereunder, to be exercised as the ~
Txustee in his discretior~ determinea to be to the best
interssts of the beneficiaries :
(a) To retain any property or un-
divided intex~ests in property, received
from the t~rantor or from any other source, ;
including residential property, reg~ard- ;
le s of any ]ack af diversification, risk, ~
' o~non-productivity;
(b) To inyest and reinvest the Trast
Tsstate in bonds, notes, atocks of corpora-
tions regardless of cl,ass, real estate or
any interest in real estate, and interests
in trusts, including co~mnon trust funds, ~
or in any other property or undivided in-
terests in prnperty, ~herever lacated, ~
without being limited by any statute or
rule of law concerning investments by trus-
tees;
(c) To aell any trust property, for
cash or on credit, at public or private !
sales; to exchange any trust property for - '
other property; to grant options to pur- ~
II chase or acquire any trust property; and
~ to determine the prices and tern~s of sales,
exchanges, and options;
(d) To operate, maintain, repair,
rehabilitate, alter, improve or remove any
improvements on real estate; to make leases
and subleases for terms of any lergth, even
though the terms may extend beyond the ter-
mination of tr.e trust; to subdivide real
estate; to grant easements, give consents
and make contract~ relating to real estate ;
or its use; to release or dedicate any in- ;
terest in real estate; '
(e) To borrow money for any purpose,
~ either from the banking depe.rtment of any
commercial bank or from any other source,
~ - and to mortgage or pledge any trust property;
~ (f) To employ attorneys, auditors, de- ;
~ positaries, proxies and agents, with-or xith - ~
~ out discretionary poqrers; and to keep any ~
~ property. in the name of a trustee or a n~- ~
inee, with or withou~ disclosure of any fidu- s
ciary relationship, or in bearer form;
(g) To determine the manner oP ascer~-
~ tainment of incame and principal, and the
. ;
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