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owaer of the Trust Fstate. ~ :
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IV. In no case shall any party dealing wlth the ~
Trustees in relation to said Trust Estate, or to whom said Trust
Tstate or any part thereof shall Ue conveyed, transferred,
contracted to be sold, leased or mortgaged by said Trustees, be
obliged to see to the application of aay purchase money, rent
or money borrowed or advanced; or be obliged to see that the ~
terms of this Trust have been complied with or be obliged to ~
inquire into the necessity or egpediency of any act of said
Trustees, or be obliged or privileged to inquire into any of the
terms of this Trust Agreement; and every deed, ass~gnment, trust
deed, bill of sale, transfer, pledge, mortgage, lease or other
instrument executed by the Trustees during the existence of this
Trust in relation to said Trust Estate shall be conclusive
evidence in favor of every person relying upon or claiming under
any such conveyance, transfer, assignment, pledge, mortgage,
lease or other instrument:
A. That at the time of the delivery thereof the
Trust created by this Trust Agreement was in full force and
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effect; '
~ B. That such conveyance or other instrument was
- executed in accordance with the trusts, conditions and limitatioas
contained in this Trust Agreement or in some a.mendments thereof
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and binding upon the beneficiaries thereunder; and
C. That the Trustees were duly authorized and ~
empowered to execute and deliver every such deed, trust deed,
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assignment, bill of sale, lease, mortgage or other instrument. ;
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V. The Trustees shall have full power to decide f inallp
a.nd conclusively as to what is principal and as to what is ~
income; and may determine the mode in which expenses are to be
borne as between principal and income, and may determine which
money or property are to be treated as capital or income, which . t
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right shall include the power to determine whether any part of ~
the actual income of any investment purchased at a premium or
a discount shall be treated as capital or as income. Each such ;
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determination, whether made upon a question actually raised, or
AR!sGLD. NATMLl1Y a~ implied in the acts or accounts of the Trustees, shall be
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conclusive and binding upon all persons.
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