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funeral claims allowable against his esta[e, costs af administration,
.
including ancillary, and estate and inheritance taxes assessed by rzason of
his death, except that the amount, if any, by which the estate and inheritance
taxes shall be increased as a result of the inclusion of property over which
said Settlor may have a power of appointment shall be paid by the person
holding or receiving that property. Interest and penalties concerning any tax I
shall be paid and charged in the same manner as the tax. The Trustee may make
payment directly or to the Settlor's personal representative, as the Trustee !
deems advisable. The Settlor hereby waives all rights of reimbursement for
any payments made pursuant to this article.
Assets or funds otherwise excludable in computing federal estate taxes
shall not be used to make tt?e foregoing payments. The Trustee's selection of
assets to be sold for that purpose or to satisf_y any pecuniary gifts, and the
tax effects thereof, shall not be subject to question by any beneficiary.
The Trustee shall make such elections under the tax laws as the Trustee
deems advisable, without regard to the relative interests of the beneficia-
ries. No adjustment shall be made between principal and income or in the
relative interests of the beneficiaries to compensate for the effect of
elections under the tax laws made by the Settlor's Personal Representative or
i
~ Trustee. ~
The succeeding articles of this Agreement shall be subject to the
Trustee's making or providing for the foregoing payments.
THIRD: Upon the death of the Settlor, the Trustee shall distribute from
the principal of the trust estate the following distributions:
A. $ 50,000.00 to S. MICHELLE LOUDEN.
B. $ 50,000.00 to L. BET~I CUPPS.
C. $175,000.00 to JEN:~IFER M. LOLTDEN, should the Settlor die in the
~ year 1983.
z
~ D. $225,000.00 to JENNIFER M. LOLTDEN, should the Settlor die in the
~
~ year 1984.
E. $300,000.00 to JENNIFER M. LOUDEN, should the Settlor die in the
~ year 1985.
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