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L. To make ordinary or extraordin~ry repaira or alterations
in buildings or other atructures, to demolish any improvemente, to
raze existing or eract aew party walls or buildings.
M. To continue and oparate any bueineee awtte8 by ths Grantor
at the Gr~ntor•s death and to do any and dll thinge deemed needful or
appropriate by the fiduciary, including the power_to incorporate the
businese and to put additional capital into the businsas, for such
time as the fiduciary shell deem advisable, ~ithout liability for loas
resulting from the continuancs or operation of the business except for
the fiduciary's own negligence= end to close out, liquidate, or sell .
the busine8s at such time and upon euch terms as the fiduciary ehall
deem beet.
N. To collect, receive, and raceipt for rents, iseues, pro-
fits, and income of the Truet Estate.
O. To ineure the aeeets of the Truet Estata against dan~qe
or loee and the fiduciary against liability with respect to third ,
persons. •
, P.~ In buying and selling aseete, in lending and borrawing
m~ney, and in all other tranenctions, irrespective of the occupancy
by the sa~r~e person of du~l positione, to deal arith themselves in their
separate, or any fiduciary, capacity.
~-Q. To compron~iee, adjust, arbitrate, sue on or defend. abandon
or otherwise deal wfth and eettle rlaims in favor of or against the Trus~
Estate as the fiduciary ehall~deem best.
R. To employ end compeneate aqente, accountants, inveet~aent
adviserg, brokera, attorneyB-in-fact, attorneys at larr, t~ix epecialiatB,
realtore, and other assistaats and advieore deemed by the fiduciary need-
ful for the propeY administration of the Trust Estete,•end to do eo
without liability for any neglect, omiBSion, mieconduct, or default of
any such aqent or profeesional representative provided he Was selected
and retained with reasonable care.
~ S. To determine, irreepective of statute or rule of law, what
ahall be f~irly and equitably charg~d or credited to income and what to
principal notwithatanding any determination by the courts or by a~ny
custom or statute, and whether or not to eetabllBh depreciation reeerves
T. To hold and retain the principal of the Trust Eetate un-
d~vided until actual dfvfsion ahall become neceseary in order to make
distributionsj to hold, manage, invest, and account for the severai
shares or parts thereof by appropriate entries on the fiduciary•s books
I of account; and to allocate to each ehare or part of ahare ita propor-
, - tionate part of all receipts and expensee; provided, hawever, the
carryinq of several trusts aB one sh~ll not defer the ve8ting in title
, or in possession of any share or part of share thereof.
~ ~ U. To make payment in ceah or in kind, or partly in caeh and
~ partly in kind upon any diviBion or dietribution of the Truet Estate
(including the satiefaction of any pecuniarydiBtribution) without
! regard to the income tax baBie of any specific property allocated to
f any beneficiary and to value and appraise any asset and td distribute
such aseet in kind at ite appraieed value.
V. In general, to exercise all po~were in the management of
the Trust Estate which any individual could exerciee in hie own riqht,
upon such terms ar?d con8ition8 as the.fiduci~ry may deem beet, and to
do all acts which the~ff8uciary may deem neceBSary or proper to carry
out the purpoees of this Truet.
w. To purchase property, real or pereonal, from the Grantor•s
qeneral estate upon 8uch terms and conditions ae to price and terme of
payment as the Grantor's executor or adminietrator and the fiduciary
shall agree, to hold the property so purchaeed in the Trust although
it may not qualify as an authorixed trust inveetment except for thie
provision, and to aispoae of auch property as and when the fiduciary
shall deem advisdble. The fact thnt the Grantor's executor and admin-
istrator and the fiduciary.are~ the same shall in no wny affect the
validity of this provision.
X. To lend funds to the Grantor's qeneral eetate upon such
~ terms and conditions as to interest ratee, maturitiee, and security as
the Grantor•s executor or acLoinistrator and the fiduciary shall agree,
the fact th~t they may be the eame in no way affectiing the validity of
this provision.
Y. To receive property bequeathed, deviaed or donatecl to the-
fiduciary by the Grantor or any other person~ to receive the proceede
of any fnsurance policy whfch names the Trust Estate as beneficiaryj
to execute all necessary receipts and releases to executora, donors,~ ~
insurance companies and other parties addfng property to the Trust Estatc
- ~ g~K 359 PA~E 987
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