HomeMy WebLinkAbout0843 . . ~ . i
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authorizes the Trustees, in their ~
the_Donor hereby expressly .
discretion, to exerc3.se the followinq powers with respect to
both r.~al and personal~propertys
(1~ To hold and retain in unchanqed form any security, ~
investment or~other property, real or personal, tangible or
intangible_,,oriqinally coming into their hands or subsequently
acquired throughout the life of this trust, reqardless of any -
legal or statutory requfrement of the contrary.
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(2) To sell, mortgaqe, exchange,~pledge, hypothecate, ~
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lease or otherwise dispose of any property, real or personal, ~
oriqinally or subsequently acquired by the Trustees upon such : '
price, terms and conditions as .the said Trustees shall deem best,
i~~ their ~:ncontrolled discretion, and from time to time invest and
reinvest in such other property, fncludinq property owned by the
_ Donor•s estate or the estate of Donor's wife, either real or
peisonal, tanqible or intangible, as the Trustees, in their sole
judgment, may deem expedient-or advisable, nutwithstandinq any ~
leqal or statutory requirements as to investments by Trustees, all :
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of which property shall be held by the Trustees upon like uses
i and trusts as the property originally cominq into the Trustees' hands.
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~ _ The Trustees may borrow such funds as determined necessary in the
E purchase of property for investment or for any other purpose and may
~ mortgage, pledge or hypothecate such property or~interest in
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~ property in the trust estate as security for said loans as may
be necessary or proper therefor.
(3) To lend funds to the credit of the trust estate to
any person, firm, corporation or other leqal entity upon the
security of such property and upon such.terms and in such
~ manner as the Trustees alone may deem advisable, not~rithstandinq
~ that such collateral or security (or some portion thereof) may not
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~ ~be of the character designated by the laws of the State of ,
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Tennessee as leqal investments for trust ~unds.
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- - 4- ~ ~ R ~3 842
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