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vest in any securities or property deemed by it to be for the
~ best interest of my estate and trust and all beneficiaries :
. without being limited to investments prov~ecled by law, and
notwithstanding that the same may cohstitute leaseholds, ;
royalty interests, patents, interests in mines, oil and gas
wells, or timberlands and without responsiblity for depreciation
or loss by or on account of such investments. I have confidence
in the securities and property ownec~ by me at the time of my
death and no sale thereof shall be required to 1ae made solely
in order to diversify investments.
B. To sell any part or all of the assets of my
estate or trust publicly or privately, for cash or on time,
without order of court, upon such terms and conditions as in
its discretion and judgment may be deemec~ for the best
interest of the beneficiaries, and to execute and deliver any~
deed or deeds (with or without warranty), 'receipts, releases, ~ ~
contracts or other instruments necessary in connection there- _
with; and no person dealing with respect to any such property ;
shall have any obligation to ascertain as to the application ;
of the purchase money received therefor.
C. To deduct, retain, expend and pay out of
any money belonging to my estate or trust any and all necessary ~
and proper expenses in conr~ection with the operation and con- ~
duct thereof, and to pay all taxes, insurance premiums, and ~
other legal assessments, debts, claims or charges, which at
any time may be due and owing by, or which may exist there
against.
D. To invest and reinvest all or any part of my
estate or trust, in any stocks, bonds, mortgages, shares or
interest in common trust funds, or other securities or prop-
erty, real, personal or mi.xed, and of any kind or nature
whatsoever, as it may deem advisable, and without diversi-
fication if it deems it advisable, irrespective of whether
or not such securities or property are eligible for fiduciary
investments under any applicable law, and to change any in- ~
~ vestrient received or made by my fiduciaries and to hold cash ~
if it is deemed advisable. ~ {
. ~ '
! E. To exercise sole and absolute c~iscretion as to ~
~ diversification of the assets of my estate and trust with no ~
requirement to reduce any concentrated holdings merely because f
of such concentration; to have complete discretion as to the `
percentage to be invested in fixed income securities and .
specifically, to be relieved from any rectuirements, legal or
otherwise, as to the percentage of the estate or trust assets •
to be invested in fixed income securities; to have authority
to invest and retain invested my estate or trust wholly in
common stocks. ~
~ F. To vote all securities comprising my estate or ;
trust, in person or by special, limited, or general proxy, '
with or without power of substitution as my fiduciaries may
~ deem advisable.
~
~ G. To register and ~arry any property in its own
name or to hold it unregistere8, but without thereby increas-
~ ing or decreasing its liability as fiduciary.
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