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HomeMy WebLinkAbout0376 (a) The Trustee may distribute to, or expend for the sole benefit of the named beneficiary, until such beneficiary attains the age of twenty-one (21) years, so much of the current or accumulated income•therefrom, ~ at such time or times and in such amounts and manner as the Trustee, in its sole discretion, shall determine. Any . amounts of income which the Trustee shall determine not to distribute to or expend for the benefit of the named beneficiary may be accumulated and held until the twenty-first (21st) birthday of the named beneficiary, on which date, all then accumulated income shall be paid over to such beneficiary. From and after the date on which such beneficiary attains the age~of twenty-one (21) years, the Trustee shall pay over to such beneficiary the entire net income from the Trust Estate not less often than quarter-annually. (b) If the named beneficiary dies prior to the termination of this Trust, leaving issue, such issue shall receive the benefits hereunder due the deceased parent; but if such beneficiary dies as aforesaid leaving no issue, the brother of said beneficiary, namely STEPHEN PAUL HOSKINS, shall be the successor beneficiary. And if during the continuance of this Trust, Mark Page Hoskins dies leaving no issue him surviving and if Stephen Paul Hoskins be then deceased, leaving issue, then the issue of Stephen Paul Hoskins shall be the successor beneficiary. And if the said Mark Page Hoskins and Stephen Paul Hoskins die, without issue, during the term of this trust, the trust in~ome shall be payable to the executor or administrator of the estate of the last survivor . . r (c) If Sun Bank of St. Lucie County be the then Trustee under a Trust Agreement for the benefit of a_contingent beneficiary, that beneficiary's share of this Trust Estate shall be added to the corpus of the ; Trust then being administered for such contingent beneficiary; otherwise, the share of that contingent beneficiary shall be distributed directly to the ! . beneficiary entitled thereto. ~ ~ ~ 4. TRUSTEE'S POWERS. In addition to the powers conferred , f upon the Trustee by statute, the Trustee shall have the following ~ . ~ express powers, exercisable in its sole and absolute discretion, ~ ~ with respeet to all property, whether principal or income, at any ~ ~ time coming into its hands, whether by purchase or in any other ~ f ~ manner, and every power of the Trustee shall continue with respect ~ ~ to any property until the execution of every Trust and every powez ~ ~ in trust with respect thereto shall have been completed by the actual j ~ 7 ~ and final distribution hereof under the terms of this Agreement: ' ~ ~a ~ b ~2~ r ~ ~d 's. K ~ :3 - ~ FEE, PARKER & FEE, P. A. ~ ATTORNEYS AT LAW ' POST OFFICE BOX 1000 S3 :=3 FORT PIERCE. FLORIDA 33450 `j TELEPMONE: (.'~S/ 46~-~5020 U ~ ~J~ PAGE {./~s ~ ~ BQCK ~ . . ~ - 3 _ ~k~_ ~ - ~ i . . - ~ '