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HomeMy WebLinkAbout0383 t ~ ~ (a) The Trustee may distribute to, or expend i 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 accwaulated 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 MARK PAGE HOSKINS, shall be the successor beneficiary. And ~ if during the continuance of this Trust, Stephen Paul ~ Hoskins dies leaving no issue him surviving and if ~ Mark Page Hoskins be then deceased, leaving issue, ~ then the issue of Mark Page Hoskins shall be the ~ successor beneficiary. And if the said Stephen Paul Hoskins ` and Mark Page Hoskins die, without issue, during the ~ term of this trust, the trust income shall be payable ~ to the executor or administrator of the estate of the ; last survivor. _ ~ (c) If Sun Bank of St. Lucie County be the then ~ ~ Trustee under a Trust Agreement for the benefit of i a contingent beneficiary, that beneficiary's share of ` this Trust Estate shall be added to the corpus of the ~ Trust then being admir}~stered for such contingent # beneficiary; otherwise, the share of that contingent ~ beneficiary shall be distributed directly to the Y i beneficiary entitled thereto. ; ~ 4. TRUSTEE'S POWERS. In addition to the powers conferred ; t { upon the Trustee by statute, the Trustee shall have the following - ~ g express powers, exercisable in its sole and absolute discretion, ~ ~ ~ with respect to all property, whether principal or income, at any ~ ~ time coming into its hands, whether by purchase or in any other ~ . ~ = manner, and every power of the Trustee shall continue with respect ~ ~ to any property until the execution of every Trust and every power = in trust with respect thereto shall have been completed by the actual ~ ~ , a and final distribution hereof under the terms of this Agreement: ; a - ~ ~ ~ ~ -2- ~ s y E FEE, PARKER & FEE, P. A. ~ = ATTORNEY8 AT LAW r': POST OFPICE BOX 1000 - FORT PIERCE, FLORIDA 334s0 U 4, e~pr~ ~ T[L6?MONE cgos~ .d~.so2o BOOK PAGE ~70J ~ ~ ~ - t^ . ~ _ _ . ~ .._..t-.._~~..'