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HomeMy WebLinkAbout0377 (a) To receive additions to the trust estate by will, gift or otherwise, and to hold and administer the same under the provisions hereof. ~ , (b) To sell, exchange, trans~er or convey all or any part of the trust estate upon such terms~~nd conditions as the Trustee shall see fit, and to invest and reinvest the trust estate in such personal or real property, includinq real estate, undivided interests in real estate, loans, stocks, bonds, or other securities, mortgages, common funds, interests as a partner in the trust capacity hereunder, in any partnership or sole proprietorship of any business and other subjects of investment as to Trustee may seem suitable or desirable, and to change investments and make new investments, from time to ~ time, as to it may seem necessary or desirable, regardless of whether ; or not any thereof are so-called "legal investments of trust funds" s under the constitution or law of any state or rule of any court. ; : t , (c) To improve, repair, lease, rent for improvement or ~ otherwise, for a term beyond the possible termination of the trust, ; or for any less term either with or without option to purchase, and ~ to let, exchange, release, partition, vacate, dedicate or adjust ; the boundaries of any real estate constituting a part of said trust ~ estate. ~ : ; (d) To borrow money for such time and upon such terms as } Trustee shall see fit, without security or on mortgage of any real } estate or upon pledge of any personal property held by Trustee here- under, and to execute mortgages or pledge agreements therefor. (e) To hold any property or securities originally received ; by Trustee as a part of said trust est3te so long as Trustee shall s consider the retention thereof for the best interest of said trust ~ estate, irrespective of whether such property or securities are a ; ; so-called "legal investment of trust funds" under the constitution ~ j or law of any state or rule of any court, whthout liability for ~ depreciation or loss through error of judgment, and in disposing of I any property constituting a part of said trust estate to acquire i other property which is not a so-called "legal investment of trust ~ i funds" under the constitution or law~ of any state or rule of,,any ~ court, where such course is, in the Trustee's opinion, for the best ~ interest of said trust estate; provided that Trustee shall not retain, ~ beyond a reasonable time, any property which shall become unpro- ~ ductive nor sha1Z Trustee invest in unproductive property. ~ (f) To determine whether any money or property coming into ~ Trustee's hands shall be treated as a part of the principal of said ~ trust estate or a part of the income therefrom, to apportion between ~ such principal and income any loss or expenditure in connection with ~ said trust estate as to Trustee may seem just and equitable, and ~ to set up reserves out of income to meet such items of depreciation, s obsolescence, future repairs or construction, or amortization of ~ indebtedness deemed by Trustee to be a proper charge against income. ~ ~ ~ (g) To keep any property constituting a part of said trust ~ estate properly insured against fire and storm, to pay all taxes or assessments, mortgages or other liens now or hereafter resting upon ~ said property, and, generally, to,pay all of the expenses of Trustee incurred in the exercise of the powers herein vested in it which, = in Trustee's judgment, may be proper or necessary. ~ . -3- ~ ~ . . ~ ~ ~ ~ ~9 ~ FEE, PARKER & FEE, P. A. ~ ATTORNEYS AT LAW x; POST OFFICE BOX 1000 u~ ~ FORT PIERCE. FLORIDA 33480 BQOKzVb PAGE 377 TELEPMONE: (3OS1 461-SO2O ~ , . _ . . ~ ~ 1 _ ~ ~ ~ ~s~- . . . _ v. . . _ ~..~n" , r ,.a.v~fi-L ~