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C. When a beneficiary attains the age of twenty-five (25)
years, the Trustees shall distribute one-half (1/2) of his or her
share of the assets of the trust outright, in fee. The remainder
of a beneficiary's share of the assets of the trust shall be distri-
buted outright, in fee, when that beneficiary attains the age of
thirty (30) years. If any beneficiary shall have attained the age
of twenty-five (25) years at the time when the trust created herein
commences, then the Trustees shall distribute to such beneficiary
his or her share of the assets of the trust,-instead of holding
the same in trust, as directed above to be distributed upon attaining
the age of twenty-five (25) years. Irrespective of any other pro-
vision in this will, if any share of the trust estate should still
be held in trust after the expiration of a period of twenty-one (21)
years after the death of the last survivor of the designated bene-
ficiaries hereunder in being at the date of this agreement, such
shares shall thereupon immediately vest in. and be distributed to
the respective beneficiaries in proportion to each beneficiary's
share of the trust estate.
D. If in the judgment of the Trustees, the value of the prin-
cipal held in this trust does not warrant the continuance of the
trust under the circumstances then existing, the Trustees in their
discretion are authorized to terminate the trust and distribute to
each beneficiary his or her share of the assets of the trust.
E. I hereby nominate, constitute and appoint the STUART
NATIONAL BANK, Stuart, Florida and my brother-in-law, ROBERT W. JAMES,
i
currently residing at 204 Maple Avenue, North Haven, Connecticut, as
Co-Trustees of the trust created hereunder. In the event of the
~ death, resignation or failure to qualify or serve of either of my
Trustees, the remaining Trustee may serve as sole Trustee. I direct
~ that no bond or other security shall be required of my individual
Trustee in any jurisdiction, to secure the faithful performance of
4 the duties hereunder.
F. The corporate Trustee shall have sole responsibility for
the custody and safekeeping of all assets of the trust estate, for
the collection of principal and income, for the keeping of adequate
~ records and accounts and for the filing of tax returns for the trust.
) A
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