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~ : all matters herein entrusted to them, including, but without
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; limiting the generality of the ~oregoing, full power, dis-
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6 cretion and authority:
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~ ~ (a) To hold all or any part of ~y estate or of the
~ ~ trusts in the form in which the asme may be at
' the time of my death or at the time of the receipt
thereof by ir~y Trustees, and to continue to hold
the saxne, w3thout any restriction or obligation ~
! to convert ~he.3FUne and without any regard to
I the limitations imposed by law on the investment i
! of n~y estate or of the trust funds, and without . _
~ liabillty for any lo~s of princlpal or income ;
~ Dy reason of such retention; ~
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~ (b) All new inves~Ments and reinvestments sha].1 not be i
~t re~tr3cted to investrzzen~s authorized by the State ~
of ~ex• Y~rk `'or yz~: ~ ~ ~'unds; ;
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~C ~ '~'O pay, C{J:_~ eC de`'~r, exter.d, BC~JU4t~ settie, ~
arbi*rM~Ie, cr cc--~aro~:=^,e a.^.y c~.aim by or agairtst ~
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rae or ^?.y es ;ate or th•~ trust~; ]
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/ td ) To vote in person or by oroxy in respect of a],l ~
' securi~ies beic~:~i.ng to m;; es~ate or to the
' ~rusts, a~d }c e.:ercl~~~ al~. the rights and powers
2s may be ;_G=-:: uiwy ~xe:'ciQed ~y per3ona holding
s::ni? ar prc.~.~f.ri;~; ln ~:.~.e~r cv~m ri~ht; j
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i ~e ) To t~ce and ho~ c ir. tne;,r oiar. na ;t~~ ~ ss Executors, s '
or s ~ee or i n t}:f namc of a 2:C"'1~ 11~'e or nomi- s
. nees, or ~r. ~e<,rer ~ ~r°::, ~ny propert;,~ ~r seeuritie$
~E co:~ing ~n~o ~t:~,r hP,nds as ~'xecutors or Trusteea;
1 and tc c?eposit the a:~z:-?e with a custodian or ~
~ custodians;
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! f} Al~ ordinary d,_vt dend whether payable i:z ~
~ cash or ~n :r:~ ~ s ~oc~c ~.:f ~he corporation
authoriz~r.^ ~.:.d dec:_~: { ng the same, or in the
a~ock o~' :~:.~~.'~cr co~cration or 3n any other
propertS• ({~cxudin~ suc: ordinary dividends
of corporat#.on whose assets are usually con-
s3dered as wasting an nature) shall be considered
lncome and not principal. All extraordinary dividen a ~
ii payable in the stock of the corporation authorizing
~ and declarin3 the same shall be considered principal.
' All other e::•:raord'r~~:.ry dividends, except liquidatin ~
~ dividend~-, be considered ineome . Liquidating t
dividends s:a~~; be apportioned. The determination i ~
~i of the Fxecut~rs or of the Trustees, as the case ~ i
may be, as to whether any dividends are ordlnary, ~ :
~4 extraordinary ~r liquidating, shall be conclus~ve ~ '
and binding upon all persons interested in r.~;,~ ~
general estate or S.n the truat e~states and th~~ ~ ;
: Executors and Trustees shall be fuliy l~^atec~ed t
in ~istr_buting as incor~e any and a21 cividends i =
which they determ'ne shaZl be d~stributable as ~
inco:ne . Il1I rea3ized appreciation in the value , ;
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