HomeMy WebLinkAbout2176 of any or all of the property of: such Gorporation 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 of the trust
estate as tne holder of such stocks, bonds or other securities, and, generally,
to exercise in respect to all securities held by them the same rights and
powers as are or may be exercised by persons owning 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 time, to advance money to the ~
trust estate from Trustee's funds for any aurpose or purposes of the t:ust.
and to reimburse itself for the money advances and interest thereon, from ;
the trust property or from any funds belonging ~o the trust propzrty there-
after coming into Trustee's custody from any source.
' (m) To pay from and out of the income of tne trust property any
and all expenses reasonably necessary for the administration of the ~rust,
including interest, taxes, insurance, ineluding pub;ic 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 of paying such expenses, to
pay the same from the corpus of the trust estate.
(n) To execute and deliver any and a;l contracts, conveyances,
, transfer or other instruments, and to perform any acts necessary or de-
~ sirable in the execution of the powers herein ves~ed, i
(o) In the event that, under any of the provisions of this agreer.lent,
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
allowed by law for the vesting of an interest after Grantor~s death, the said
interest shall vest absolutely in and be forthwith 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 beneficiary thereof, whatever his, her =
er their attained ages.
t
~
(p) Any distribution to or for the benefit of a minor hereunder 3
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 o: legal guardian of such mino:, ~ -
M AMK~1T1~7~1T1AY~ f~ ~,,,Hnm Trustee may ;
OY' 0I' atly SIICA lIIalVliiltd'1~ ~:ui~0iw~`,iv?• v• v.g........,..~....
elect to make such distribution for the benefit of such minor, shall be a
comp2ete discharge to Trustee with respect to the amounts covered by the ~
re ce ipt.
4. LIMITATION OF POWERS - 1o powers of the Trustee enumerated
herein or now or hereafter conferred upon trustees generally shall be con-
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 ~art
of the corpus or income of the trust for less than an adequate consideration in
money or moneyis worth, or to enable the Grantor to borrow all or any part
of the corpus or income of the trust, directly or indirectly, without adeyuate
- interest or security. No person, other than the Trustee, shall have or exer- ~
cise the power to vote or direct the voting of any stock or other securities of
$~181 ~2~i7 i
-4-
; - -
. . _ ~ _ ~
~