HomeMy WebLinkAbout2743 3. To sell, exchange, lease, grant options to purchase and execute contracts
concerning trust property for such considerations and upon such conditions and
payment terms as Trustee may determine without regard to the termination date of
any trust;
4. To invest and reinvest trust funds from time to time in bonds, notes,
debentures, corporate stocks of any class, trust interests including common trust
funds and investment trust shares, real estate or any other kind of real and personal
property or business- interest without being limited by any statute or rule of law
concerning proper investments for Trustee; to assign undivided interests in
investments to any separate trust or shares established by this agreement;
5. To participate in the management of business enterprises, as stockholder,
partner or principal, to participate in any organization or reorganization of a business
enterprise committing and transferring trust assets or funds for such purposes; to
vote stock by proxy or otherwise; to deposit or transfer securities to protective or
voting committees or similar bodies; and to exercise any options, execute any
documents and delegate authority to act in its behalf in furtherance of any of these
activities;
6. To operate, improve or develops real estate; to construct, alter, raze, or
repair buildings or structures on real estate; to partition, subdivide, dedicate to public
use, grant easements or other rights with respect to or otherwise deal with real estate;
7. To employ and compensate attorneys, accountants, brokers, agents and
custodians;
8. To pay all costs and expenses of the trust and its property, including
reasonable compensation to Trustee for its services not to exceed one dollar ($1.00)
per year plus. expenses necessary to conduct the business of the trust;
' 9. To arbitrate, settle, compromise, contest, foreclose, extend or abandon
claims or demands in favor of or against the trust or its assets;
10. To borrow at interest money from any banking institution or from any other
source, and to assume indebtedness and encumber trust property by mortgage or
pledge;
11. To allocate receipts and disbursements between principal and income on a
reasonable basis giving consideration to its usual custom and the State principal and
income statutes as may be in effect from time to time in making its determinations; to
establish reserves out of income, if it sees fit, for depreciation of property, and
anticipated expenses;
12. To enter into any transaction authorized by this article with Trustees or
personal representatives of other .trusts or estates in which any beneficiary of this
trust agreement has an interest or which by its terms distributes to any trustee
established by this agreement, even though Trustee also serves the other trust or
estate in a fiduciary capacity; and in such transaction to purchase property, or make
loans on notes secured by property, even though similar or identical property
constitutes a large proportion of the balance of the trust estate, and to retain any such
property or me as if it had been received in kind as an addition to the trust estate;
13. To purchase and own policies of life insurance on the life of any beneficiary .
under this trust agreement; to pay premiums or charges on life insurance from
income or principal; and to exercise any and all settlement options, right or incidents
of ownership trustee may have over policies of life insurance; to purchase and own
policies of life insurance on the life of the original trustor provided that the beneficiary
of said life insurance is the trust herein named.
14. To determine the market value of any investment for any purpose on the
basis of such quotations or information as trustee deems pertinent and reliable;
15. To make any distribution or division of the trust property in cash or in kind,
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t or both, and to allocate or allot specific assets among or to beneficiaries on the basis of
current values determined by Trustee.
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C~ COPYRIGHT 1175, SALA Q ASSOCIATES