HomeMy WebLinkAbout1998 ~
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ARTICLE 8
. INSURANGE
(A) The Settlor shall pay all premiums or assessments
on any insurance policies, forming a part of the Trust Estate,
o and the Trustee shall be under no obligation to see that said
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o premiums or assessments are paid or to pay the same, and shall be
~ under no obligation with respect to such policies deposited with
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~ the Trustee hereunder other-than for their safekeeping, except to
s the extent expressly provided herein. Nothing herein contained
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• ~ shall be deemed to impose any obligation on t.~i~ Settlor to maintai
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o any or all of such policies in force. _
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; (g) If, in the opinion of a disinterested Trustee, the _
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Settlor is incapacitated through illness, age, or other cause, th
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I ~ disinterested Trustee may in his uncontrolled discretion pay
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~ = any premiums on insurance on the life of the Settlor. -
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~ (Cj~ The Settlor reserves to the Settlor during Settlor's
~ lifetime, all incidents of ownership in any insurance policies
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~ forming a part of the Trust Estate, and without limiting the fore
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~ going, the right to payments, dividends, cash surrender values,
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sickness, accident, disability and other benefits of any kind
which may accrue on account of any of such policies, to borrow
money thereon, to sell, assign, or otherwise transfer any policie
of insurance upon Settlor's life made payable to the Trustee,
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to exercise any options, privileges or other rights of ownership
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$DO~233 ~1996 ~ ~
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