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HomeMy WebLinkAbout0980 1 ; , ~ . . . . . ' ~ ~ . ~ ~ - .rara~r+a~rrr..ur • ~ i 1 ` • ~ ~ • ~ f such Trustee shall cease to act as a.Trustee until such condition of incompetence ceases. For purposes hereof the term 'incompetence" is defined as a condition in which a Trustee is unable ~o conprehend the nature and extent of trust property and is unable to understand and carry out the purposes for which this trust was established, due to un- sound mind, mental illness or disorder, whether such incompe- tence is caused by injury, illness, defec`; senility or othet cause. Such condition of incompetence shall not be deemea established except by the written opinion of two physicians, including the personal physician of the Trustee himself (if such Trustee has a personal physician) and one other physician who is expert in such matters. ' D. Exculpatory Provisions. No Trustee designated in ; this instrument shall be liable to any beneficiary or to any . , heir of either Trustor for the Trustee's acts or failure to act, except for willful misconduct or gross negligence, and no Trustee shall be liable or responsible for any act, omis- sion, or default of any other Trustee, provided that the Trustee shall have had no knowlege of facts that might rea- . sonably be expected to put the Trustee on notice of it. = E. Successor Tcustee Liability. No Successor Trustee ~ shall be Iiable for any act, omission or default ot a pre- ~ decessor Trustee. Unless reyuested in writing by an adult ~ beneficiary of the trugt, no Successor `rrustee shall have any duty to investigate or review any action of a predeces- ~ sor Trustee and may accept the accounting records of_the predecessor Trustee showing assets on hand without f urther investigation and without incurring any liability to any per~on claiming or having an interest in the trust. 3 F. Resi nation. Any Trustee may resign at any time ' from any trust un er this instrument. The resigning Trustee ~ shall give written notice of the resignation by personal ' delivery or registered mail to all current income beneficiaries. The resignation shall be effective on the ~ qualification of a designated Successor Trustee. The designated Successor Trustee shall act as Trustee on acceptance of the appointment. G. Trustee's Bond. The term •Trustee• as used herein shall include any Co-Trustee or Successor Trustee, and no bond shall be required of any Trustee serving hereunder, - whether as sole Trustee or Co-Trustee. H. Accounting by Trustee. Opon any trust hereunder becoming irrevocable, the Trustee, in his discretion, shall f -13- ~ . ~ ~ HINCHY. WITTB. WOOD. ANOERSON d HODGES ~ ~n0529 P~~0975 - ~ _ , , ~ _ . .