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HomeMy WebLinkAbout2174 i - i ~ 1 ii and in such manner as said beneficiary may appoint by his Last Will and Testament, provided this power of appoiritment is specifically referred to by the terms of such Last Will and Testament. i~ (e) If the named beneficiary dies before attaining the age of twenty-one ~ (21) years (or the age of thirty (30) years, if this trust is extended pursuan: to ! provisions of Sub-Paragraph (c) of this Paragraph), without validly exercising ; the general testamentary power of appointment referred to in Sub-Paragraph (d) i of this Paragraph, this trust shall terminate, and the entire trust estate as it ~ shall then exist, both principal and income, shall be paid and distributed to th~ ~ ~benefit of said beneficiary's brother, TURNER ANDREW McDERMID, and sisters, STELLA BRICE iVicDER:VIID and MARY BETH McDERMID, or to their ~ surviving issue, per stirpes, share and share alike, in the manner following: E; ' . }i ' ' 1: i' If First National Bank at Fort Pierce is then Trustee under a Trust Agreement for the benefit of such contingent beneiiciary, that beneficiary's share of this trust estate shall be added to the corpus of the trust then being administered for such beneficiary; i otherwise, the share of that contingent beneficiary shall be dis- ! - tributed directly to the beneficiary entitled thereto. ` i' - ~ ~ 3. TRUSTEE'S POW~RS - In addition to the powers conferred ? upon the Trustee by statute, the Trustee shall r.ave the following express ~ powers, exercisable in its sole and absolute discretion, with respect to all i ~ property, whether principal or income, at any time coming into its hands, whether by purchase or in any other manner, and every power of the Trustee i shall continue with respect to any property until the execstion of every T:ust and every power in trust with respect thereto shall have been completed by ; the actual and final distribution hereof under the terms of this Agreement: ~ (a) To receive additions to the trust estate by will, gift or other- wise, and to hold and administer the same under the provisions hereof. (b) To sell, exchange, transfer or convey all or any part of the ' trust estate upon such terms and conditions as the Trustee shall see fit, a:~d ~ to invest and reinvest the trust estate in such personal or real property, including real estate, undivided interests in real estate, loans, stocks, 'j bonds, or other securities, mortgages, common funds, interests as a ;t partner in the trust capacity hereunder, in any partnersnip or soie pro- prietorship of any business and other subjects of investment as to Trustee . may seem suitable or desirable, and to change investments and make new ~ investinents, from time to time, as to it may seem necessary or desirable, - << ~ regardless of whether or not any thereof are so-called "legal investments ~ ~ of trust funds" under the constitution or law of any state or rule of any court. ~ ~ ~ . (c) To improve, repair, lease, rent for improvement or other- wise, for a term beyond the possible termination of the trust, or for any less term either with or without option to purchase, and to let, exchange, ~ release, partition, vacate, dedicate or adjust the boundaries of any real ~ estate constituting a part of said trust estate. ~ ~ ~ (d) To borrow money for such tune and upon such terms as Trustee ~ shall see fit, without security or on mortgage of any real estate or upon ~ ' . ^ 0R ~j . _Z_ 800K101 PACE2~75 ~ ~ ~ - _ _ _ _ . _ _ . .