HomeMy WebLinkAbout1964 . ~
' • !
i
carrying oa similar operatiops in common use by other laadowners
and other operators of similar eaterprises.
Q. VOTS STOCK. The Truste~ may vote stock for aay
purpose in person or by proxy,~may enter iato voting trusts, and
_ nay participate in corporate activities Srelated to any trust
hereunder in any capacity permitted by law, includiag service
as officers or directors.
R. PARTICIPATS IN R~ORGANIZATIONS. The Truste~ may ~
unite with other oaners of property simil~ar to apy held in trust
i
in carrying out any plan for the consolidation, merger, dissol- ~
n~~on, liquidatioo, foreclosure, lease, sale, incorporation,
reincorporation, reorganization or read~ustment of the capital
or financial structure of any association or corporation that aay
trust has a financial interest in; may serve as members of any ~
protective committee; may deposit trust securities in accordaace
~rith any plaa agreed upon; may pay any assessmepts, expeases, or
other sums deemed expedieat for the protection or furtherance of
the beneficiary hereunder~, aad may receive and retain as trust
~ , investments any new securities issued pursuaat to the plan, even
I
~ though these securities would not coqstitute authorized trust
~ iovestmeats without this provision.
3. UTILIZT INSURANCF OPTIONS. In dealing with any
_ _~olicy of insurance constituting a portion of the trust estate,
the Truste~ may either to the extent permitted by the policy ~
or by arrangement with any insurer involved, utilize every ;
option and privilege ava?ilable. The Trustees may gratuitously ;
~
or for consideration transfer or assign any policy so held to, ~
or may designate as beneficiary thereof, the beaeficiary of this
.
trust holding it as an asset aad may make acceptance aad observ-
ance of aay•option so utilized a condition of the acceptaace of
,
~
the transfer, assignmeat, or designation. The TrusteES may delay
claimiag insuraace proceeds in order to make an election under th
y -policy or to aegotiate any extracontractual arrangement with the
. insurer.
u. o..~c~. -7-
Aar;o:o. MATMEIIY ~ fJ?iAll
O~I~lNDO. ?LORIpA
e ~27 PA~~~2
- - ~ _ .
-