HomeMy WebLinkAbout2510 4. If any tn3st herein created shall at any tin~ fall beLow the s~n of
Thirty Thousand ($30,000.00) Dollars in value and if all the beneficiaries then
entitled tA receive the incane therefran shall have attained the age of twenty-
•one (?.1) years, the Trustee may forthwith assign, transfer, o~nvey and gay aver
to such beneficiaries the entise body or oorpus of the tnLSt estate, free and
dis~arged fran the trusts hereof, r~twithstandi.ng anyth.in9 herein oontained to
the oo:~trazy, in which event any remaindennen shall not be considered as having
a vested interest in the tru.st estate so oonveyed tc~ such beneficiasies.
3. ARTICLE XIX of the substitutEd Trust Agre~~ent of Hamer P. Davidson
dat~ed May 15, 1978, is hereby amEnded in its entirety t~ read as follows :
ARTIC.L..E XIX
Should Grantr~r's spouse survive him, she shall have the right at any time
subsequ~t to Grantnr's death to designate herself a Co-Tnistee with FD~F~D
PHII~SPS of the FAMILY TRUST herein. Notice of such designation shall be in
writing signed by Grantor's spou.se, pmperly acknowledged ar~d witnessed and
delivered to the other Trustee. Notwithstanding th~e foregoing, the other Tnistee
shall retain the sole and uncontrolled discretion to make all decisions with regard
to discretior~ry aistri.butions to ariy of the beneficiaries under said FAMILY TRUST.
I Acoordingly, Grantr~r's spouse as Co-Trustee shall not participate in ariy marmer or
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t;o the ext~ent in exercising of any judgment or decision which the Trustees are re-
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; quired or permitted to make or in the exescise of any discretionary power or
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~ authority which might or could inure t,~ the benefit of such Co-Trust~ee.
~ The signature of the successor Trustee hereta shall be cvnstrued as no more
~ than acceptance of th~ t~ns of this AgreeqnP~t as they apply to the rights, powers,
dutues and obligations of the sucoessor Trustee during its tenure as trustge and
shau in no way }.~e construed t,o mean acceptance, ratificatio~ or appraval of any
of the acfis, anission or clefaults of the prior Tnist~ee rx~r an undertakir~g by the
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~ swccessor Trustee tA audit or verify the reoords of the grior Trustee. The suc-
~ cessor Tru.stee shall be entitled t~ relY upon anY statanents and reoords (whLCh
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