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Tlie obligation,to pay the annual amount shall
commence with the date of my death; however, my trustees may
deler payment o! the annual amount during the period from my
death to the end of the taxable year of the trust in which it is
completely funded. The annual amounts so deferred shall bear
interest at the rate of six percent (6$) per year, compounded
~ annually.
The annual amount shall be paid out of the
net income of the trust, and to the extent that net income shall
be insufficient, out of principal. Any income not required for
payment of the annual amount shall be accumulated and added to
principal.
~ B. The annuity trust shall terminate upon the death
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of the annuitant. Upon the termination of the annuity trust, I
give the then remaining pr'incipal and income thereof, to the
_ Foundation, provided, however, if the Foundation does not exist
~~~~-at the time the trust terminates or is not then an
~f organization
, described in Sections 170(c) and 2055 of the Internal Revenue
li Code, then upon such termination I
~ , give such principal and
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income to one or more organizations, each of which is then an
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; organization so described, in such amounts and/or proportions as-
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~ my trustees shall, in their sole and unreviewable discretion,
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~ determine. '
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C• If any provision of this Will or any Codicil
hereto would prevent the allowance of a_charitable deduction for
~ ~ estate tax pur~oses with respect to the remaining rinci al an
P p d
~ income of ttie trust under this Faragraph I(or any part hereof),
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~ then such offending provision shall not apply to the trust and
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E this hiill and aiiy Codicil t~ereto shall read;and take effect as if
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~ such offending provision did not exist.
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