HomeMy WebLinkAbout1963 If the business shall be upincorporated, coatractu
aad tort liabilities arising out of the business shall be satis-
fied, first, out of the business, and secoQd, out of the trust
estate; but it is iateaded that in no eveat shall they be a
liability of the Trustees and the Truste~ shall be entitled to
indemnificatioa from the business and the trust estate in the
order named.
O. 1RANAGS RTALTY. The Truste~ may deal with realty
in any maaner lawful to an owaer thereof. This authority ipclude
the right to manage, protect aad improve it, to sell or contract
to sell it in whole or ia part, to grant optioas to purchase it,
to donate it, to convey it with or without copsideration in
Whole or ia part, to mortgage, pledge, or otheraise encumber it
ia whole or in part, to acquire, release, or grant easements or
other rights relating to it, to dedicate parks and thoroughfares,
to subdivide it, to vacate apy subdivision or part thereof and
~ re-subdivide it from time to time, to lease it ia whole or in
part, apd to renew, extead, contract for, and grant options in
connection with leases.
' a p. CARRY ON FARM, GR~OVT, RANCH, FOR$STRY AND TI~dBSR
~
OPTRATIONS. The Truste~ may coatinue any farm, grove, ranch,
~ and forestr and timber operations which in any form may be
s y
a part of the trust estate, may acquire and iavest in operatioas
of these types, and may operate them either alone or as partner
or stockholder. For example, the Truste~ may operate with hired
labor, tenants, or sharecroppers, may lease, mortgage, rent or
sell for cash or trade any real or persoaal property, may acquire
machiaery, equipment, and livestock; may acquire, contract,
repair and improve any buildings and ~ences; may engage in
projects to improve productivity, includipg soil conservation and
reforestatioa; may ditch and drain laads and install irrigation
systems; may engage in livestock production or dairying and
cultivate pastures and crops therefor; may remove oil and gas
or minerals or timber and may in general employ aay methods of
u. o..~a. -6-
AANOID. MATMEMY S
OIILANpO. /LO~IOA
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