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HomeMy WebLinkAbout2181 ~ ' , ~ V ~ ~ and in such manner as said beneficiary may appoint by her Last Will and ~ Testament, provided this power of appointment 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-or.e (21) years (or the age of thirty (30) years, if this trust is extended pursuant to provisions of Sub-Paragraph (c) of this Paragraph), without validly exercising , the general testamentary power of appointment referred to in Sub-Paragrapr. (d} of this Paragraph, this trust shall terminate, and the entire trust estate as :t : shall then exist, both principal and income, shall be paid and distributed to tr.e ~ , benefit of said beneficiary's sister, STELLA BRICE McDERMID, and brott~ers. ' HOWARD CALVIN McDERMID, II and TUR\ER ANDREW McDERMID, or to • their surviving issue, per~stirpes, share and share alike, in the manner follow ing: ~ ~ If First National Bank at Fort Pierce is then Trustee under a Trust Agreement for the benefit of such contingent beneficiary, : that beneficiary's share of this trust estate shall be added to tr,e . corpus o; the trust then being admir.istered for such beneficiary; otherwise, the share of that continger.t beneficiary shall be dis- tributed directly to. the ~beneficiary entitled thereto. ~ ( ! 3. TRUSTEE'S POW~RS - In ad~ition to the powers conferred . upon the Trustee by statute, the Tr'lstee shall have the following express ~ powers, exercisable in its sole and absolute discretion, with respect to all ~ 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 execution o; every Trust ~ 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: ~ I 0 [ i~ (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. ~ r~ (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, and ~ to invest and reinvest the trust estate in such personal or real property, ; including real estate, undivided interests in real estate, loans, stocks, ~ bonds, or other securities, mortgages, common funds, interests as a i partner in the trust capacity hereunder, in any partnership or sole pro- ' i a...~..L.:.. 1.....:....,.+~ ..+..7 .~?~hnv. a?~1~iontc nf ~n~sn~tmont a c tn TY`11CtPP ~ Ni a~ava o~aar v~ auj wu.~uaa,vv c.¦.u v.....~ _ i ~ may seem suitable or desirable, and to change investments and make new ~ investments, 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. ~ r; ; : ~ (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 conatituting a part of said trust estate. ii . ~ (d) To borrow money for such time and upon such terms as Trustee ~ ehall see fit, without security or on mortgage of any real estate or upon ~3 's~-.~ - r : ~ ~ . • i; ~ . ' 'i ~ "2" 0 R q e~~ 8001I1H~ PAGE~..L~ ~ ~ : ~ - _ ' ' s "'.~'.".f ~~.b .n.~__.,.., _ _ '.s .._u,~"