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HomeMy WebLinkAbout0992 ~ r . C' . . ~ . ARTICLE II. . TRUSTEES' PO~JERS Zn additlon to any oth~r powers granted by l~w or provided in ~ 3 other artic~es of this DeclarAtion of Trust, all of the Trustees and ~ thc~ir successors under all of the trusts created under this Declara- ~ : tion shall ha~~e the following po~ver~ to bc: ~ exercised as the Trustees ~ ~r their ~uccessors in their discretion determine to be to the best ; i~terest of the beneficiaries; A. To retain aa ar~ inve$tment any and all of the securities and other prbperty originally assigned, transferred or delivered to the Trustees hereunder or at any time forming a part of the Trust Estate, or to reinvest in any property whether or not such property shall be authorized by the laws of any jurisdiction for the invest- ment of trust funds= and the Trustees shall not be liable for any loss or damage resultinq from the retention of any property~or resulting from any investment which they may make or which they ~ are authorized or advised to make; such investments shall include bonds, notes secured or unsecured, stock9 of corporations includiny ~ stock of any corporate Trustee, real estate or any interest therein, ~ interests in trusts includinq common trust funds, life insurance, ~ and securities of the United States Government; ~ t3. To sell at ublfc or ~ p private sale, anc~ exchange, lease or loan ~ for any term or terms, all or any part of the property at any time ~ held hereunder for such consideration, in cash or on credit and ~ upon such terms and conditions,es they shall deem expedient; " C. To borrow any amount of money for any purpose in connection with the administration of the trust herein and to execute promissory notes or other obligationa for the amount so borro~ted and to secure ' thc payment uf any and all amounts so borrowed by mortgage or by pledge of any property at any time held hereunder. ' D. Without limiting the g~nerality of the fore~oing, at any timc ; the death of the Settlor is imminent, any Trustee, acting alone t and exercising his own judgment a~ to ~hether the death of the E Settlor is imminent, shall be empowered to purchase securities of the United States Government and to mortgage or pledge any portioi~ ~ of the Trust Estate in order to borrow money for said purpose- L•'. To register any securities at any time, and from time to time, held '~ereunder in their names as Tr~astees or in their individual ~ names or in the name of any one of them or in the name or names of one or more of their nominees, with or without indicating the ~ trust character of the securities so registered, or to ~'bld any securities in bearer form so as to be transferable by delivery. : Suc}i registration shall include, but not be limited to, the secur- ' ~ itics transferred by Scttlor herein to one or more of the Trustees > hereUnder, and any issuer or transfer agent_shall rely upon the oral or written directions of any of the trustees of any of the trusts ~ t~ereunder, as to the name of any trustee under which said ~ecurities ~ are to be listed or reqistered, without requiring the consent of f the Settlor or any other beneficiary hereunder; ; ~ F. To vote-or consent in person or by ~roxy for any purposcs in s respect of ar~y securitfes at any time held by them hereunder, to ~ enter into any voting trust or any other similar agreement in respect ~ thereof, to deposit any or all sec~rities thereof under any deposit, ~ merger, consolidation, reorganization, or any oth~r similar agree- ~ ment or with any committee, depository or trustee, to ~~ccept here- ~ under any new securities, cash or other property issuable in.exchange ~ ~for or in respect to securities so deposited,to exercise or sell ~ ~ any rights of subscription or any other rights accruing on or in ~ respect thereof, and qenerally to take ~ny and all action in respect BOOK ~JG PAGE ~2 -G- ~ GRI~NO i R(~Un~~t~K, V, ATtV~iNCrS AT IAW~ =SpC~ NA~~ANOA~C f1CAC~~ OWD., HA~~4NDALC, rLOR~OA ~1009 ~ ~ . , G;.7 :R:.:~::i'"2s~r~~ -~„~"r^^''_ "a``~"~