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HomeMy WebLinkAbout0990 - - _ . - v. . . . • ~ . ' ' ti ~l , ~ ~1~r . , . ~ ~ ~ . . ~ ~ . , . ~ ~ . ; ' ~ a receipt of the Truatees to any auch insurance compeny shall • 4 bQ effective to release tho insurance company from any liability as a result of such policy or policies and ehall be binding upo~ every beneficiary ot the Trust. F. Durinq Settlor's L~fetime: During the life of the Settlor, the Trustees shall hold, ma~aqe, invest ancl reinvest the Trust ~ assets and sha12 collect the income thereof and after deducting all proper expenses of administration shall distribute and dispose i . ~ of the net income and principal as follows: l. The Trustees ehall pay him the net income, after p~~yment of insurance premiums and charges, quarterly or more often or apply the same for hie use. 2. The Trustees shall pay~over to him, free of trust, any amounts of principal ~hich he may from time to time request. G. ~on Settlor•s Death: After the death of the Settlor, ~11 of any estate, inheritance and other death taxes of any nature, together with any interest and penalties that may be payable upon or with respect to all property required to be includeci in the Settlor's gross estate or taxable to ~ny persor. receiving the f ~ property under the provisions of any present or future domestic ~ or foreign laws,~reqardless of whether the pr~perty pas~es under ~ . ~ or outside of this Trust Agreement or the Settlor's ~~ill or a ~ codicil and regardless of w;~ether those taxes are payable by the ; ~ Settlor's estate or by any recipient or beneficiary of any such ~ . property, shall be paid or other provisions for payment made by the~ Trustecs out of the corpus of the Trust estate, with no right of reimbursement from any recipient or beneficiary of any such prop- erty or ~ny temporary or remainder interest. ~ ~ 2. The Trustees shall not postpone the dispo~ition of the ~ remaining Trust estate, but tl~e Trustees shall have the right to ~ ~ witnhold any amount as they, in their discretion, deem necessary ~ :ay that portion of the taxes, intere3t end ~en~lties ~hey are ~ • ; so directed to pay. In the event the amount su ~i.thheld is ins~~f- ~ ~ ~ ~ ficient for that purpose, the additional amount required shall be ~ ~ ~ paid proportionately by the persons or trusts to whom the remaining 'i`rust estatc was distributed. In the event tl unt w thheld is ~ BO~O~K `tJ4 PAGE ~ -4- ~ GNANO ~ ~pUi•?~~f~, V, I~ I~TTORNErS Ai ~AW, =500 C- ?~ALLANOALC UCACM 61V0., MAl lAflOA~,~, ~LOp~OA »009 ~ 4 . " . ' " . :.~...e_""_ ; , . ~~Y i t ?:"v5:~ ~ '=.i'_Rb -s.`c'L _ . :~.'~~T.~~a-r+.~'c`3~.a-~'v:'L~.._k~`a~._~3~,~.5+.~ ~ .