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JOINT LIVING TRUST AGREEHE~iT
eoth Grantors accept the consequences of refusal. The Grantors t
understand the full importance nf this declaration and assert ;
that they are both emotionally and mentally competent to make ~
this declaration. ~
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ARTICLE VI: DISSOLUTION OF MARRIAGE ~
Not withstanding any other provision herein, and expressly ~
without regard to any demand or right of a Trustee or Beneficiary ~
under this Trust, in the event that either Grantor shall file for i
dissolution of marriaqe durinq the lifetimes of both Grantors, it ~
is expressly aqreed that the Trust Property be i~amediately ~
distributed to the Grantors individually in proportion to their ~
original or subsequent contributions or according to the provi- ~
sions of a separate nuptial agreement. Upon the final decree for ;
dissolution of marriage, this trust~shall be revoked. ;
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ARTICLE VII: DISP03I?ION OP ?RUST ~SSBT3 UPOIi DBATH OF GR1~IIiTOR ;
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Upon Grantors death, the Trustee or Successor Trustee shall ~
dispose of the Trust property, together with all property that is
distributable to the Trustee as a result of the Grantors' death, ~
whether by Will or otherWise, as folloWS:
A. After death of the first Grantor to die, this trust '
shall continue for the use and benefit of the Survivor ~ho shall
have all the riqhts and powers previously mentioned, including '
expressly the power to amend this trust in any or every particu- ~
lar or to revoke this instrument entirely and receive from the :
Trustee all trust property rer~aininq after expenses connected
with administration of this trust.
B. Upon simultaneous death of the Grantors or upon the
death of the Surviv4r, this trust shall terminate, and the ~
Trustee shall distribute the Trust Property accordinq to the .
provisions of Paragraph "C" of this Article. The Trustee may
distribute the Trust Property in cash or in kind, or both (even
if shares composed differently), and the Trustee may determine
the propriety of such distribution, the time chosen for such
distribution, and the ~aethod of valuing any property so distri-
buted. A Trustee may distribute to any beneficiary an undivided
interest in any tr~st property.
C. Under the circumstances of Paragraph "B" of this
' Article, the Co-Successor Trustees shall distribute the assets of .
this trust as follows:
ALL TNE ASSETS OE` THIS TRUST AND ALL THE TANGIBLE PERSONAL
PROPERTY OF TIiE GRANTORS SHALL BE LIQUIDATED AT THE DISCRETION OF
THE CO-SUCCESSOR TRUSTEE5 AND THE PROCEED3 SHALL BE DISTRIBUTED
TO THE GRANTORS' TWO (2) CHILDREN, IN EQUAL SHARES: 50~ (FIFTY
~ PERCENT) TO WILLIAH ISERNIA, GRANTORS' SON; AND 50$ (FIFTY PER-
CENT) TO ANTHONY ISERNIA, GRANTORS' SON, BOTH AS PRIMARY BENEFIC-
IARIES. ~
IN THE EVENT THAT WILLIAH ISERNIA OR ANTHONY ISERNIA SHOULD ;
~ PREDECEASE THE GRANTORS, THEN THAT BENEFICIARY'S SHARE SHALL BE j
~ DISTRIBUTED TO HIS LINEAL DESCENDANTS, IN EQUAL SHARES. IN THE i
EVENT THAT EITHER SON HAS NO LINEAL DESCENDANTS, THEN THAT SHARE j
SHALL LAPSE AND THE PROCEEDS OF THIS TRUST SHALL BE DISTRIBUTED ~
TO THE REMRINING BENEFICIARY, IN TOTAL. '
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AAA t~~,* Bs. Lad~ C~o~aq
s_-._._.._. Clerk ot Ct u co,~
In~ 7~M,c 1 ~-g~,
Yb~e~ i ~ D'D°q' C3~d`
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Paqe 3 of Seven Grantors' Initials .
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~o~~ 675 PACE1288 ~
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