HomeMy WebLinkAbout0225 ARTICLE 13 - LIMITED PARTNERSHIPS
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The Grantor specifically suthorizes the Grantor's Trustees acting
at that time, in their sole discretion, to continue to hold or to dispose
of any or all interests which the Grantor may own at the time of the
Grantor's death in any syndicate, partnership, organization or company
engaged in drilling, mining, cutting, harvesting, producing, processing or
selling otherwise dealing in oil or petroleum products, natural gas,
minerals, or other natural resources without regard to the speculative
nature of the interest, whether productive or unproductive, if they
believe it is in the best interest of the beneficiaries of the Grantor's
estate. The Grantor further specifically authorizes the Grantor's
Trustee acting at the time, in their sole discretion, to continue to
hold, or~to dispose of any interest the Grantor may own at the time of
the Grantor's death in any properties, real or personal, being held for
any such purposes whether the Grantor owns the same individually in fee,
; as a joint tenant or tenant in com~on with others, as a regular, special
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~ or limited partner, as lessee, lessor, licensee, licensor, 3oint venturer,
a concessionaire, or by whatever name the Grantor's ownership may be
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described, without regard to the speculative nature of the interest,
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~ whether productive or unproductive, if they believe it is in the best
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~ interest of the beneficiaries of the Grantor's estate.
r In connection with any such interest which the Grantor's Trustees
~r determine to continue to hold, they shall have, in addition to and not
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in limi~tation of the powers given them by law and all powers granted by
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~ other provisions of this Trust Agreement, specific power and authority,
in the management, operation or disposition of any such interest, to:
= A. Pay all delay rentals, lease bonuses, royalties, overriding
royalties, local taxes and assessments, and all other charges
in connection therewith;
- B. Retain, sell, lease, exchange, mortgage, pledge or otherwise
= hypothecate any or all of such rights and interests or any :
other assets of the Grantor's estate for any purpose in con-
~ nection with the management or operation of any such interests
~ or for the purpose of obtaining additional funds to make
_<Jy investments in such interest or similar interests; ~
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