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either the corpus or accuinulated income' of the share of any beneficiary -If s3~
in the truat estates in insuraace, endorr~lent or annuity contract~ on the
life of such beneficiary or on the life of any persou in whom the benefi-
ciary has an insurable iatere$t; and they may purchase auch corrtract or
contracts from such standard inaurance company as they may aelect.
4. The Trustees, other than the insured, shall have 8ole power-to exer-
cise any and all righta, powers, privileges, options and all other incidents
of ownership in any insurance, endowment or annuity policy held in the
trust estatea, including the right to change the beneficiary, to pledge the
policy to secure a loan; to borrow on the policy; to surrender the policy
and receive the cash surrender value; to convert the policy from one form
to another; to app2y policy dividends; to exercise settlement options; and
. to do any and all other things that an individual owner of such policy could
do.
5. The Trustees shall have power to emp2oy such~gents and attorneys
as may be necessary or desirable for the proper administration "of the
trust estates; anci they shall be autY~ori~ed to pay reasonable compensation
for such services. The Trustees shall aerve without bond. The Trustees
shall have full power to vote in person or by proxy any capital stock of
corpo?rations which they may hold as Trustees and to enter into plans for
reorganization or refinancing of corporations whose stock or securities
are held in the trust estates as they, in their discretion, ahall deem to be
for the best intere~ts of the trust estates. The Truetees shall have full
power to exercise any subscription rigtrts to purchase stock or other securi-
ties in any corporation, and to borrow money therefor if they shall deem it
advisable to do so; and ~the Trustees sha11 be fully exonerated from any loss
to the trust estates that may result from the purchase of such stock.
~ 6. They shall have power to determine all questions relating to the allo-
cation of receipts and disbursements of the trust Estates as betwean capital
and income, including prenuums and discounts and stock dividends and
stock rigtrts, and every such determination shall be conclusive and binding
upon all persons in interest. During the continuance of the truats, the
Trustees sha11 keep accurate books of accounts and shall make annual
atatementa to the adult person or persons from time to time entitled to
the income from the trust estates. They sha11 also have power to com-
promise any clairns against or in favor of the trust estates, r~
The Trustees shall have power to value aad appra.ise any and all of the
assets of the trust estates for the purpose of making divisions and distri-
butions thereof, and to distribute the same in cash or in kind, or partly
in kind and partly in cash, as they may deem advi.sable, and any such
valuation or appraisal made by the Trustees shall be valid and biding upon
every beneficiary hereunder. _
; 8. The Trustees may hold in the trust estates undivided interesta in such
securities, real estate or auy other property as they may deem proper.
They may also a11ot undivided irrterests in such property to the respective
trust estates created herein or the portioas or shares thereof. Trustees
may cause any securitfes or other property which may at any tune form a
part of the trust estates to be iasued, held or regfstered in their names
individually or as Trustees, or in the name of any nominee or in such form
that title will pass by delivery.
9, The Trustees shall have power to carry on for profit any business in
which I may be engaged at my death for so long a period as they shall con- ~
sider to be for the best irrterest of my trust estates. They may enter into
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