HomeMy WebLinkAbout0587 ~ ~ ~ nYOUN(3 TRU3T" Agreememt 7O7
' 8. Upon tha deaease ot ar~y aettlor, the Truetee shall
be authorized and empoNered ipso iacto to exerci8e all the
,
: powers, rights and dutiea enumerated is~ the preoedi~g para-
graph hereoi, !or the pui•pose of disposing o~, ar dividing
said property in the manner end form directed-by a me~ority ~
~ ~ of saic~heire and distributees then living, provided that in.
_ - such distribution and division, eaid heirB end di8tributees -
° shall shere_end share-alike;-end in the event any ot said
heirs and dietributee ehall predecease the said Trustee, then .
~ the heire and distributees at law oY such deceased heir-and
+ --diatributee ahall take per st~rpes the pa~t of euch deceased
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- ~ heir and distributee or said heir$ or~distributees at the
r decease of the eaid eettlor,~ may~continue and/or discherge
; _ _ _
- said TRLT3T ~pon terms s~nd conditions to be agreed upon, pro-
viding no c~i8position of anq of' the h~,#.rs and distributees
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"who may predecease the said settlor, shall be impaired or ~
ignored.
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9. The Trustee sshal.l not diapose oY any right, title, .
; interest, or bene~it en~oyed hereunder,--either_~ointly-or
~ ~severally during the natural lives of said settlors except~
upon the consent of a~a,joritq ot -the remaining settlors.
10. The said Tiustee, during the period of active management,
- as aforesaid, of said estate and p~operty, shall out of the income,~.
~ roeeeds end revenue derived from said ro e
~ P p p rty.first_pay all
~ taxes,^liens, interest and encumbrances aB they become due,
i . '
~ together with a ten percent ~1096) com~ission in case the said
~
~ Trustee collects rent from said property. Said compensation is
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- for the purpose o~ services rendered as said menager.of the
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- P~PeY't3?~ .
11. The entire net income received or derived from the
E TRU3T estate during the menagement of sa~d by the said Truatee,
his successors or each of them shall be placed in a Txvst ~.ind
Yor f'urther consideration and diaposition by said settlora.
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