HomeMy WebLinkAbout0985 1, r.arr:e o£ Trust. `Pk~e '1'rust t?erek~y e~t~t;li:~t~ed
sY~ail ~e rc•ferred to as D.P.S.,M,t)„ D~fincd F'lac; tior:ir~~c~
n,r~~:;t .
l. f~f'T1C~ficiarie~~. The ~~rrent t~eneficiaric~ of ti~is
`1'CU:it. c3CE: ~1St.E;C3 Ofi d „;.~L;~iECjUZE Of U~t~cficiurie~" SE'.t~lfic~
fo~th tt.e r;a,^.,es and the ces~~~ctive ~.~rcentayE i?;terests of
eact,. S~.:cr~ SC~iECjU IE t:us bccr cr.ecutc:d by r~e a~ Tru~tec
i.E'rEU:~dEr anc3 said Leneficiary. If ::~nf benefici~r~ a~, fror~
tir.~: to t:r,.e, listed ir~ a ScYyedule of f3encficiaries i;: a trust
p enti*_y, t::~ right:.- and ~~owers of suct~ entity a~. a benef iciary
~ :,~r:a?: be exercised by all of tt~e trustees thereof, or by suct,
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~f ti:e Tru~tees as are er;powered by the trust inst_rur;ent
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t't:erefore tU act on bet~alf of sucr~ trust entity.
~ E~cei.t as ot~:erwise ~~ertr:itted by all of t?,e
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~cr,F_-ficiar_e:;, tt:e ir.te:ests of tt~e ber~eficiarie~ (:,~ubject
~ or:il t~ descent and distribution by will or by o~eratiari oi
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~ law~) shall not be transferable and tt,eir r.espective percentaye
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; i;:terests shall remain as set fortt~ on said Schedule. In the
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e~.~ent o£ a transfer of any suc~~ beneficial interest by wiil or
b1 oreratian ef ?aw, t:~e consent of anI ~~ch transferee tc ~ny
acti~n k;y tr,e Tru ,tee st:all, at all tir~,es, be ~~re~ured t~ i.ave
~EEf1 ^~ade anc: ~ctual consent by an}~ ~~uct, transferee st;all roL
:~e recuired. Any Trustee ~:ereunder r.~ay, with~ut in,pro~:ri~-t1,
bc or becor..e a~~neficiary hereunder and exerci~e all riy}:ts
of a:,encficiary with tt~e ~a~:e effect as tho~gh he we~c: r:c,t ~
Tru~tce .
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