- 5 -
The Trustee shall hold, manage, invest and
reinvest the trust property (including any amounts
which may be added thereto under the Last Will and
Testament of the "Grantor"[)] and shall collect the
income thereof and dispose of the net income and
principal as follows:
* * * * * * *
B. Upon the death of the Grantor:
(a) The Grantor's home shall, insofar as
possible, be set aside by the Trustees as a historical
site. The designation of this site and management
shall be in the discretion of the Trustees.[3]
(b) The Trustees shall divide the remaining
balance of principal and income of the "EDNA PEARCE
LOCKETT REVOCABLE TRUST" as then constituted into four
(4) equal shares for the following named beneficiaries:
I. Ruth Pearce Fulton
II. Patricia Pearce Durrance
III. Clara Evelyn Pearce Johnson
IV. Leland C. Pearce
or their lineal descendants.
Each such trust fund shall be held by the Trustee
as a separate trust fund, and each fund shall be
designated by the names of the beneficiaries, or by the
name of the lineal descendants, as the case may be.
* * *
* * * * * * *
During the lifetime of the beneficiary, the
Trustee may distribute all or any part of the income of
the trust hereinabove established to or for the benefit
of the said beneficiary and the children of the said
beneficiary, in such amounts, at such times, in such
manner, and in such proportions * * * as the Trustees
shall in their discretion deem advisable for the
3 The language in subsection (a) of Article III B. is
hereinafter referred to as the "Historic Site Language".
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011