HomeMy WebLinkAbout2817 l~~~r CP
J. In the investment, administration and distribution of
the trust created herein, and subject to the provisions previously
set forth herein, my Trustees shall be governed by the provisions
of Sections 737 and 738 of the Florida Statutes, 1975, that are
not otherwise in conflict with this instrument, and shall have all
additional powers and protection granted by law, and, in addition,
and not in limitation of any common law or statutory authority, and j
without application to any court, my Trustees shall also have the
following powers and responsibilities described below to be exercised
in their discretion, only subject to the other provisions contained ,
herein:
1. On any division or distribution of the trust estate,
in the Trustee's discretion, to divide and distribute property of
the trust estate in money or kind, including undivided interests,
or partly in money or partly in kind, including undivided interests,
and to evaluate trust property for purposes of determining the
amount of the trust principal to be distributed as provided herein,
which valuation, in the absence of any showing of bad faith, shall
•be conclusive and binding on all parties in interest.
2. In investing, reinvesting, purchasing acquiring,
exchanging, leasing, mortgaging, transferring, retaining and selling
property for the benefit of-this trust, the Trustee shall exercise
the judgment and care, under the circumstances then prevailing, that
men of prudence, discretion and intelligence exercise in the manage-
ment of their own affairs, not in regard to speculation, but in
regard to the permanent disposition of their funds, considering
the probable income as well as the probable safety of their capital.
Within the limitations of the foregoing standard, the Trustee is
authorized to acquire every kind of property, real, personal or
mixed, and to make every type of investment, specifically including,
but not limited to corporate obligations and securities of every
kind, preferred or common stocks, and interests in investment
trusts and mutual funds, that men of prudence, discretion and
intelligence acquire for their on account, irrespective of whether
that investment would otherwise be classified as a legal or non-
e legal investment under the laws of the State of Florida.
~ _
3. To pay income that is due to a deceased beneficiary
to the succeeding beneficiary.
k
4. With regard to underproductive property, my Trustee
shall not be required to make any distributions in lieu of income
with respect thereto.
5. To disclaim or renounce any. power given hereunder
which could be construed as resulting in the Trustee being treated
as the owner of any portion of the trust herein and thereby taxable
in accordance therewith.
a
K. Except for the right to disclaim, no principal or income
distributable from any Trust created herein shall be subject to
anticipation, alienation, assignment, mortgage or pledge in any
manner or method by any beneficiary, and the same shall not be
subject to interference, acquisition or control by any creditor
Page 5 of 8 PAGEwV~S .
t:R ~Q
QUA
_