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E. Collection of Insurance Proceeds: Upon ihe cieath of
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the insured or earlier matu::ity of any insurAnce oolicy
or policies composing part of the trust estate, the
Trustees shall collect the proceeds and the benefit~
thereof. The Trustees shall furnish the nec~ssary proofs ~
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of death to ~he insurance companies. 'rhe Trustces are `
authorized to take any and all rother stepa reasonably
necessary for the collection of such proceeds and benefits, •
including the institution of proceedings at Iac~ or in
E~;:~ity in order to enforce the payment thereof. Nowever,
~ Trustees shall not, except at their own election, in-
stitUte or maintain any legal action for th~ collection of
such proceeds and benefits unless they are fir~t indemnifie~
to their satisfaction against all liabilities and expenses
to which they~, in their judgment, may be subjected as a
result of such action. The Trustees are further authorized
to compromise and settle claims arising out of the insurance ,
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palicies or any of them on such terms and condi.tions as the}~
deem advisable, and the decision of the Trustees shall be
binding upon all interested parties. The Trustees shall be
authorized to give the insurance companies and each of them
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all the necessary and proper releases and acquittances in
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~ full discharge of all their liabilitie~ under such policies. ~
E The pr~ceeds and benefits of such insurance policies so
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collected by the Trustees shall he added to and become a
part of the principal of the trust estate; but the Trustees
except for thef r negligence, shall not be liable.to anyone
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~ for the failure to collect all or any part of the proceeds =
of the policies and the Trustees shall be responsible for
~ the proceeds and benefits of ~uch insurance only when
~ collected by or paid to them. No insurancc c:ompany that
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~ has issued or shall issue a policy or policies of in~urance
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~ subject hc:reto shall have any obligatian to in~uire into
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~ the terms of this Aqreement or see to the application of ;
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~ the proceeds and benefits of such policy or policies; and
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~ - 3- B~ 432 PA~E 9~9
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