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responsible for determining whether sue~ payments have been
made.
C. Trustee's Authority to Deal with Insurers.
1. Collection of Insurance Proceeds. On receipt
of proof of death of the insured and on obtaining possession
of an insurance policy, the Trustee shall use reasonable
efforts to collect all sums payable under policy terr~s
provided that it~shall be reasonably indemnified. All sums
received shall become principal of the trust estate, except
for interest paid by the insurer, which shall be income.
2. Power to Compromise, etc. The Trustee shall
have full power to compromise, arbitrate, or otherwise adjust
any claim, dispute, or controversy arising under any policy,
and shall have authority to'initiate, defend, settle, and
compromise any legal proceeding necessary in the Trustee's
opinion to collect the proceeds of any policy. -
3. Discharge of Insurer. The Trustee's receipt
! to any insurer shall be considered in full discharge, and
~ the insurer shall not be unc3er any duty to inquire concern-
4 ing the trustee's application of policy proceeds.
ARTICLE VIII
~ CERTIFICATION AND EXECUTION
` We certify that we have read the foregoing _
~ Declaration of Trust, that it correctly states the terms and
conditions under which the trust estate is to be held,
managed, and disposed of by the Trustees, and we approve the
Declaration of Trust in all particulars.
Executed at San Diego, California, on this ~9 ~
day of (OGr'v~y~ , 1986.
Trustors and Trustees
.
SEPH INED
L%Kat/ ~~~oew.J
CORA PIPIEDA
-18-
HINCHY. WITTB. WOOD. ANDERSON 8t HODGEB '
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