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benefit of the person or persons entitled to receive such
net income.
I. Defi~ition of Education. Whenever provision is
made in t s trust for payment for the 'education' of a
beneficiary, the term 'educatio~• shall be construed to in-
clude private school, trade school, .:ollege and postgraduate
study, so long as pursued to advantage by the beneficiary at
an institution of the beneficiary's choice; and in deter-
mining payments to be made for such private sct~ool, trade
school, college or postgraduate education, tt?e Trustee shall
take into consideration the beneficiary's related living
expenses to the extent that they, are reasonable. .
ARTICLE IV
TRUSTEE POWERS AND DIRECTIONS
A. Trustee Powers. In order to carry out the provi-
sions of the trusts created by this instrument, the Trustee
shall have these powers in addition to those now or here-
~ after conferred by law:
i
l. Investment Under Prudent Man Rule. To invest
funds in every kind of property, real, personal, or mixed,
and every kind of investme~t, specifically including, but
not limited to, corporate obligations of every kind, stocks,
preferred or common, shares of investment trssts, investment
companies, and mutual funds, and mortgaqe participatbons,
life insurance policies on the life of any beneficiary that
men of prudence, discretion, and intelligence acquire for
their own account, including any common trust fund
administered by the Trustee.
2. Power to Retain Pro ert . To continue to hold
any property and to operate at the r sk of the trust estate ' ;
any business that the Trustee receives or acquires under the
trust as long as the Trustee deems advisable; provided, how-
ever, that notwfthstanding anything herein to the contrary,
and upon written direction of the aurviving spouse, the
Trustee shall dispose of any such property which is held in
. the trust estate and which is not producing a reasonable
investment return to the trust.
3. Power to Mana e Securities. To have all the
rights, powers, and pr v eges of an owner with respect to
the securities held in trust, including, but not limited to,
the powers to vote, give proxies, and pay assessments; to
. HINCHY. W17Tt, WOOD. ANDLRfOt~1 b HODGES
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