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Home My WebLink About2000 I 1 - . • ~ . ~ . ~i . ; , ' ~ ~ ~ - ~ . ~ . ~ , . (E) When any insurance policies made payable to the Trustee hereunder shall, to the knowledge of the Trustee, have matured, the Trustee shall use its best efforts to collect the , proceeds of such policies, or may, at its option, exercise any of the options of settlement that may, at that time, be available to the Trustee under the terms of any of said policies. The.Trustee . may institute any proceedings at law or in equity in order to en- . ~ force the payment thereof, it being disti~ctly understood, how- ~ : ever, that the Trustee shall not, except at its option, enter into ~ . ~ or maintain any litigation to enforce the.payment of said policies ~ - 5 until it has been indemnified to its satisfaction against all o . . ~ expenses and liabilities to which it may, in its judgment, be sub- ; jected by any such action on its part. The Trustee is authorized . o to compromise and adjust claims arising out of the insurance poli-. ~ = cies or any of them, upon such terms and conditions as it may deem Y ~ Z ! ~ ~ust, and the decision of the Trustee shall be binding and con- , . E w clusive upon all persons and corporation~ interest~d tfierein. The ~ ~ Trustee shall be responsible for proceeds of the insurance only ~ : ~ ~ when, as and if collected or paid to it, and the Trustee shall not r x be liable to anyone if for any reason the policies~shall lapse or < t : be otherwise uncollectible in whole or in part. < ~ e -(F~ The receipt of the~Trustee of any payment or pay- ~ ments made under or on account of any policy or golicies affected by this Trust Agreement shall release the insurance cQmpanies from liability on the policies..No insurance company making any such ~ ~ payment to the Trustee shall have any obligation to see to the use or application thereof. ~ . - I _ 4 800K ~~t~J P~GE ~ 8 (F ) ~ ~ z • - ~ - _ S ~ _ _ . : . ~