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3. Expended for the benefit of the beneficiary; or
4. Paid to someone who has undertaken the responsibility legaQy or voluntarily,
for the support and maintenance of the beneficiary; or
5. To be reinvested and maintained within the trust for the benefit of the
beneficiary.
After making any payment or distribution, trustee shall be fully discharged of
liability with respect to and further accountabiUty for such payment or distribution.
(C) If the market value of the aggregate assets in the principal account totals
less than fifty thousand dollars 050,000.00), this trust maybe terminated in the sole
discretion of the Trustee and distributed to the income beneficiary or beneficiaries in
proportion to their income interests; or, if such interests are indefinite, then to the
income beneficiaries in such equitable proportions as Trustee shall determine.
(D) Trustee is directed to regard the income beneficiary or beneficiaries at any
given time as having primary rights under this agreement and Trustee is directed to
consider only the welfare of income beneficiaries in the exercise of discretionary
powers and disregard the interests of any successor beneficiaries. Any discretionary
right to use principal shall include the right to exhaust principal for such purpose. No
beneficiary shall have any right to compel Trustee to make any discretionary payment
or expenditure or question the propriety of any discretionary payment or expenditure
made by Trustee. Any discretionary determination made by Trustee shall be final. as
to all beneficiaries.
(E) On the death of a beneficiary entitled to income payments, any accrued or
undistributed income shall continue to be treated as income and-shall be held and
accounted for, or distributed, in the same manner as if the income had been received
and accrued after the beneficiary's death. _
(F) Trustee's discretion to distribute principal to or for the benefit of a
beneficiary shall include authority to pay expenses of last illness, funeral and burial
expenses of the beneficiary, after death; provided that any calculations of successor
interests shall be made as if any such payments had been made from principal prior to
the death of such beneficiary.
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(G) If any trust created by this agreement is still in existence twenty-one (21)
years after the death of all persons listed in Article II and their descendants who are
living on the date of this trust, all shares shall immediately vest in the persons then
~ entitled to the income and in proportion to their income interests or, if such interest
are indefinite, then to the income beneficiaries in such equitable proportions as
Trustee shall determine.
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ARTICLE VIl
e
~ POWERS AND DUTIES OF TRUSTEE
(A) With respect to this trust and ~ny sub-trusts created by this agreement,
and property. thereof, Trustee shall have all powers given it by law and all powers
which may be exercised by individuals owning similar property in their own right.
Without restricting the generality of the foregoing, the following powers are set forth
by way of illustration of the extent of powers granted and not by way of limitation, to
be exercised from time to time by Trustee in its discretion.
E
1. To receive additions to any trusts established under this agreement from any
s source, and to administer such additions according to the terms of this agreement;
2. To retain indefinitely without- liability for loss any property or interest in ;
I property received in kind by Trustee as an addition to the trust estate regardless of '
degree of risk affect on diversification or unproductivity of the asset;
_3_ BOOK33(1 P~E2731
~~COPVRIG HT 1979. SALA Q AffOC1AT E4