HomeMy WebLinkAbout2504 Upon and subsequent t,o the death of the Grantor, thA Successor Trustee shall
use its best efforts to col~ect the proceeds of all policies which are subject to i
the terms of this tntst, ar may, at the option of the Trustee, exercise any of the '
options of settl~nent as may be available ~ the Trustee at that time ~der the
t,enns of any o~ said policies, aryd for such p~uL~poses, the TYVStee shall have full
pv~aer to execute and deliver any receipt or other voucher far the same, to
inGtitute any suit or proceeding, and tn do and perform ariy and all other acts
necessary for collecting ar~y s~ns which may be due and gayable on acoount of
said policies; provided, hr~wever, that the TnLStee shall not except at its
option, institute or maintain any litigation to enforce payment of any said
policies until it shall have been indennified to its satisfaction agairLSt all
expenses and liabilities in which it may in its judcpnent be involved by such
action on its part, and when the Tn~stee shall have collected the proceecis of
such policies, then and thereaft~er the Txvst~ee hereunder shall handle, manage,
invest and dispose of the incame and principal thereof together with the inoonc~
and principal of such other funds, securities ar~d pro~pe.rty acceptabl,e to the
Trustee as shall be, or shall have beP.n, transferred, inter vivos or testamentary,
to said Trustee by the Grant,~r or by others.
2. ARTICLE IV of the substituted Trust Agr~anent of HON~Et P. LIAVIDSON dated
' May 15, 1978, is hereby amencied in its entirety ~ read as foll~w5:
ARTICLE IV
Debts of the Grantor, ac~ninistration expenses attributable ta the death of
~
the Grant~or, and death taxes isc~posed upon the estate of the Grantor which are
~ - - -
E legal obligations of the tru_st estate under state or federal law, ar otherwise,
~
~ shall be paid from the principal of the trust. The balance of the trust estate,
augmentred by any additions fran the Grant~or's estate, shall be disposed of as
6
~ j.~OVld~ lIl ~'L1S AF~'IQ~ IV.
~
~ A. Atmunt Transferred to FAMILY TRIJST.
~ If the GrantAr's spouse, RQ6E B. DAVIDSON, shall survive the Grantior, then
as soon aft~er the death of the Grantor as the Tnistee determir~es to be practicable,
S
~
~
~ -3-
~
~ . . : , .
€ . ~ ~ . _ - '
~ ~ ~ BooK 674 P~E2544~: . - : . . . .
~
S
~
~ - . . . - ~.}.`~~r~'~~"~ ,°~~~„~,~w~ csr.,-..
' ~-~:~eea.-,...w~r.>~ . ~