HomeMy WebLinkAbout2175 I, ~
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2 113 056
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BOOK PACE ~
if it sees fit; ~~nc' pav all FxrE•nscs of. the Dare,
~ manacc~r~ent, insurance, rol~air anc r~airtenarce of any f
f' real estate, ~-~nc'. all otl.er r_xpnnsos of the ac'.ministra-
tics of the trusts, inclr~;irn fec~g of crninsel retained
by it , ch~~rRir,a such exrc'nsc's to i n:.c~me or Principal
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or in Hart to each as the "'rusted sl~.-~11 deem proper. 1
• Uivicierc?s r~:~~ak-.lr in StocY. or share= of tl•e corPora-
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tic~n, .~s~r,ri ~tior or lnisiness. trust rarinc the same,
it comr~onl~~ ca.llec• "stock dividenc?s," the proceeds of
the ~~~i a or. rights to ~uLscribec? for ner~ securities,
the rrofits from the sale ar ather c?isposition of. i
securities or other property belorninq to the trust !
estate, anc extraorr'.inarv divicenc7s, whether in cash ~
~I or seeuritiec:, shall be aciclec' to tl^e principal and not
paid cut ac i nca!rc~, the Trustee to have full power ~
anti authority in its discretion to c?eterMine any
cuestion whic)^ may arise relative thereto. The term
ii "securities" includes all farms of investment in
intanctible nr~rerty, incluc'ing, without limitincc the
ceneralit~~ cf' the fc~recoinc, bonds, notes, mortaacres,
debentures arc'. other evidences of inc?ebtec'ness, shares
j•, of corporate stock ~f env class, stock of the torpor- '
i ate trustee, its parent and offi.l.iates, certificates
evidercinc+ participation in votinr: trusts and so-called
business or im•estment trusts, participation in so- f
'i callec' common trust funcs, savings accounts with the
ti corporate tru:~tee anc? elsewhere, am shares of building- ~
loan anc. savinrs anti loan. associations.
j~ 7. The i'rustee shall not be r.e~uire~ to furnish any
bond, or surety. Its Powers and discretions may be exerciser'. by i
'.its appropriate canr~ittee er by any of its officers, and anv per- I
son dealing in ~tooc? f-with with the Trustee shall be entiltec? to
li rel~• uron a ciritten statement of anv of its officers as conclusive
,'evidence of all matters therein stated. If at cry tine there shall
~;be more than one trustee, the wart: "Trustee" anc? pronouns referring
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thereto s1=a11 irclud~e the plural ~Zrc' aPr.ropriate genders, but the
€ j~ Trust property shall at all tires remain. in the custody of the j
;'corporate trustee. 7n the event that any ether bank or trust '
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I company shall succeed tc the fiduciary hvsi_ness anc? assets of. the
s Industrial ?:atioral I3ar1 of Phoc'e 7slar_~? through mercer, consoli-~
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2 ;~dation, accruisition, as~innr~rt, transfer or ether means, then
such successor corneratiar. shall autar^aticall~,~ be anc? become the
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trustee hereun~?er anc? in such canacit~~ shall r_ ossess all the title,
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~ipowers and autrarities herein conferred an thc• trustee. i
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Uncn thF Gettlor'G death the Trustee sl-all callect j.
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'the proceeds of anv naiiciFG of insur~~r~ce on the ~ettlor's life j
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~ i'payable to it, with p~wcr, nevertheless (subject to the nrovisions~
f} '
. of Paragraph 2 hexed`) , to elect a~^onc- sctt?c~mert options avail-
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able to it under. anv st;ch rol icy, ~~nd nawc•r to ci ve rc'ceints,
~ ~ •G rns in connection caith ~
bring suit, ~_rc~ car~nror^i P ~,r.~ ac?it.. t cl...
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