HomeMy WebLinkAbout2190 of any or all of the property of~ such corporation to any other person, fi: r:~
• or corporation, to pay all assessments, expenses and sums of money as
Trustee may deem expedient for the protection of the interests oi the trust
estate as the holder of such stocks, bonds or other securities, and, generally,
to exercise in respect to all securities he2d by them the same rights and
powers as are or may be e~:ercised 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 purt.-~ose or purposes of the trust,
and to reimburse itself for the money advances and interest thereon, ~rom ;
the trust property or from any funds belonging to the trust property there-
after coming into Trustee's custody from any source.
(m) To pay from and out of the income of the trust proper~y any
and all expenses reasonably necessary for the administration of the trust,
including interest, taxes, insurance, includ:r.g public liability insura:~ce
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 tr.e
trust property is insufficient for the purpose of paying such expenses, to
pay ihe same :rom the corpus of the trust estate.
(n) To execute and deliver any and all cor,tracts, 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 the provisions of this agreement,
~ absolute vesting of any interest is deferred beyond the period allowed by
I law, then upon the expiration of the longest time, or upon the latest event
~ allowed by law for the vesting of an interest a:ter Grantoris death, the said
interest shall vest absolutely in and be forthwith distributable ~o the person
or persons who is or are the beneficiary or beneficiaries thereof, and in
the proportion in which each is a beneficiary thereof, whatever his, her
or their attained ages. ~
(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 `
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individual, corporation or organization for the benefit of such minox'; and
the receipt of such minor, or the custodian or legal guardian of sucla minor,
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elect to make such distribution for the benefit of such minor, shall be a
complete discharge to Trustee with respect to the amounts covered by the
receipt.
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~ 4. LIMITATION OF POWERS - No powers of the Trustee enumeratea
~ herein or now or hereafter conferred upon trustees generally shall be cor.-
~ 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 o: any part
of the corpus or income of the trust for less than an adequate consideration in
~ money or money'~ worth, or to enable the Grantor to borrow all or any part =
~ of the corpus or income of the trust, directly or indirectly, without adequate ;
~ 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 oi
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BOOK~81 ~~E2191
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