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HomeMy WebLinkAbout2169 + ~ ~ 1 ! i ~ , of any or all of the property of~ such corporation to any other person, firm ~ or corporation, to pay all assessments, expenses and sums of money as Trustee may deem expedient for the protection of the interests o: the trust estate as the holder of sucb stucks, bonds or other securities. and, generally, to exercise in respect to all securities held by them the same rights ar.d powers as are or may be exercised by persons ownirig similar property in their own right. (k) To employ such agents, accountants and attorneys as may be necessary or advisable in the administration of this trust. (1) At any time, or from time to ~ime, to advance money to the trust estate from Trustee~s funds for any purpose or purposes of the trust, and to reimburse itself for the money advances and interest thereon, from the trust property or from any funds belonging to the trust property ~here- ; ~ after coming into Trustee's custody from anv source. i . ; I (m) To pay from and out of the income of the trust p:oper~y any ? and all expenses reasonably necessary for the administration of the trust, ~ including interest, taxes, insurance, including public liability insurance ~ and compensation to the Trustee, as well as any other expense incurred , for the benefit of the trust estate, and in the event the income from the ~ trust property is insufficient for the purpose oi paying such expenses, to pay the same from the corpus of the trust estate. (n) To execute ar.d deliver any and all contracts, conveyances, ~ transfer or other instruments, and to perform any acts necessary or de- sirable in the execution of the powers herein vested. (o) In the event that, under any of =he provisions o: this agreement, absolute vesting of any interest is deferred beyond the period allowed by law, then upon the expiration of the longest time, or upon the latest event ~f allowed by law for the vesting of an interest after Grantor~s dea~h, the sa:d I interest shall vest absolutely in and be for~nwith distributable to the person ~ or persons who is or are the beneficiary or beneficiaries thereof, ar.d in the proportion in which each is a beneficiury thereof, whatever his, her ~ or their attained ages, j t ~ (p) Any distribution to or for the benefit of a minor hereunder ~ . may be paid in the sole discretion of Trustee, directly to such minor or ~ may be paid to the custodian or legal guardian of such minor, or to any ~ individual, corporation or organization for the benefit of such minor, and the receipt of such minor, or the custodian or legal guardian of such minor, ~ or oi any sucn indiviciuai, corporation or organizaii~n io wnom -i ruszee u~y elect to make such distribution for the benefit o~ such minor, shall be a ~ complete discharge to Trustee with respect to the amounts covered by the ~ re ce ipt. ~ ~ t : 4. LIMITATION OF POWERS - No powers of the Trustee enumerated s ~ herein or now or hereafter conferred upon trustees generally shall be con- F ~ strued to enable the Grantor or the Trustee, or either of them, or any other ~ person to purchase, exchange, or otherwise deal with or dispose of all or any part ~ of the corpus or income of the triist for less than an adequate consideration in ~ money or money's worth, or to enable the Grantor to borrow all or any ~art ~ of the corpus or income of the trust, directly or indirectly, without adequate interest or security. No person, other than the 7'rustee, shall have or exer- ~ cise the power to vote or direct the voting of any stock or other securities of ~ E~ ~ ~ i ~ . - 4- ~ gooK 181 ~~E21?0 ~ ~~i ~ ~ ~ . _ _ . - - ~ ~ il ~ ~~u:_...~ _ ~ ' j r r _ ~