HomeMy WebLinkAbout0198 independently and without the prior or subsequent approval of any
court er judicial authority, and no person dealing with the executors
or trustee shall be required to inquire into the propriety of any
of their actions. Without in any way limiting the. generality of the
foregoing, I hereby grant to my executors and also to any trustee
hereunder, the following specific-powers and authority in addition
to and not in substitution of the powers conferred by law:
- A. -To compromise, settle, or adjust any claim or demand
by or against my estate or any trust and to agree to any rescission
or modification of any contract or agreement.
B. To retain any security or other property owned by me
at the time of my death, so long as such retention appears advisable,
to exchange any such security or-property for other securities or
properties and to retain such items received in exchange. I have
confidence in the securities owned by me at the time of my death and
no sale thereof shall b e made solely in order to diversify investments.
C. To .sell, exchange, assign, transfer and convey any
security or property, .real or personal, held in my estate or in any -
trust fund, at public or private sale, at such time and place and
upon such terms and conditions .(including credit) as it may determine.
D. To invest and reinvest in such stocks, bonds and other
securities and properties as it may deem advisable including stocks
and unsecured obligations, undivided interests, interests in invest-
- - - -
sent trusts, legal and discretionary common trust funds, mutU'tal .
Cuncis, leases, and property which is outside of my domicile, all-
without diversification as to kind or amount without being restricted
in any way by any statute or court decision (now or hereafter-eXfsting)
regulating or limiting investments by f fiduciaries.-_~ - ` -
~Y
E. To register and carry any property in its own name
or in the name of•its nominee or to hold it unregistered, but without
thereby increasing or decreasing its liability as fiduciary.
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atsy er i 1 Menninger
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