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HomeMy WebLinkAbout2182 ' { 1' 1 • ~ 1 ' ~ ~ 1 pledge of any personal property held by Trustee hereunder, and to execute j mortgages or pledge agreements therefor. I ~ (e) To hold any property or securities origiiial2y received by ~ Trustee as a part of said trust estate so long as Trustee shall consider ~ the retention thereof for the best interest of said trust estate, irrespective of whether such property or securities are a so-called "legal investment of trust funds" under the constitution or 2aw of any state or rule of any ~ court, without liability for depreciation or loss through error of judgment, and in disposing of any property constituting a part of said- trust estate to ~ acquire other property which is not.a so-called "legal investment of trust funds" under the constitution or law of any state or rule of any court, whe:e such course is, in the Trustee's opinion, for the best interest of said trust estate; provided that Trustee shall not retain, beyond a reasonable time, any property which shall become unproductive nor shall Trustee in- vest in unprodu~tive property. (t~ To determine whether any money or property coming into ' Trustee's hands shall be treated as a part of the principal of said trust ~ estate or a part of the income therefrom, to apportion between such prin- ~ cipal and income any loss or expenditure in conrxection with said trust estate as to Trustee may seem just and equitahle, and to set up reserves out of income to meet such items of depreciation, obsolescence, future repairs or construction, or amortization of indebtedness deemed by Trustee to be a proper charge ~against income. (g) To keep any property constituting a part oi said trus~ estate properly insured against fire and storm, to pay all taxes or assessments, mortgages or other liens now or hereafter res~ing upon said property, and, generally, to pay all of the expenses of Trustee incurred in the exercise of the powers herein vested in it which, in Trustee's judgment, may be proper or necessary. (h) In making any division of the trust property into s'r.ares for the purpose of any distribution thereof directed by the provisions of this agreement, it shall be proper for the Trustee to make such division or ; distribution, either in cash or in kind, or partly in cash and partly in kind, ~ _ as the Trustee shall deem most expedient, and in making any division or ; distribution in kind the Trustee may allot any specific security or property ~ or any undivided interest therein to any one or more of such shares, and ` to that end may appraise any or all of the property so to be allotted, and the Trustee~s judgment as to the propriety of such allotment and as to the relative value for purposes of distribution of the securities of property so ~~--~a^-~ t~~~i hn f~nwl rnrl ~~~~t„~;vP „nc,n all nersons interested in this waav~~cu iaucau ..v ~ . trust, or in the division or distribution thereof. ~ (i) To hold any or all securities or other property in bearer form, ~ in the name of Trustee, or in the name of a nominee, without disclosing any ~ fiduciary relation. (j) To vote in person or by proxy all corporate securities of any kind held for the trust estate, to unite with other owners of similar property in carrying out any plan for the reorganization of any corporation or com- pany whose securities form a portion of the trust estate, to exchange the securities of any corporation for other securities, upon such terms as Trustee shall deem proper, to assent to the consolidation or merger of any such corporation, to assent, and vote for, the sale, mortgage or lease, ~ ~ "3" ~0~1$1 ~~83 . ; - - - s~ ~ : : . v:: ~ . , _ w : , ~ _ , d,.,~.