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foundation shall be established for a period of
five (5) years, and upon the fifth anniversary
date of the date of Grantor's death, the remain-
ing proceeds plus any interest accumulated within
the private charitable foundation established
pursuant to this paragraph shall be distributed
in fee to the charitable organization for which
this private charitable foundation is initially
established. The Foundation Trustee or manager
of the private charitable foundation established
pursuant to this paragraph shall be LIZETTE LEWIS
PRYOR.
* * * * * * *
It is Grantor's intent that such Foundation
Trustee or manager have the authority and
discretion to distribute proceeds from the
private charitable foundation as he or she see
[sic] fit for specific charitable events, project
[sic], or needs of the charitable organization
for which the private charitable foundation was
established. Thus, during the five (5) year term
of the private charitable foundation and upon its
termination as described in this paragraph, the
Foundation Trustee or manager may allocate
foundation funds to the designated charitable
organization for specific needs or for the
general benefit of the charitable organization at
his or her discretion provided that all funds are
disbursed to such charity upon the foundation's
termination.
5.04 ALLOCATION OF REMAINING TRUST
PROPERTY. Upon the death of the Grantor, the
Successor Trustee shall distribute the remaining
Trust property which remains after providing for
all previous distributions and for payment of
all expenses of administering such Trust in
accordance with provisions of paragraph 6.02
herein for bequests, debts, expenses, and taxes
of Grantor's estate to LIZETTE LEWIS PRYOR in
fee, discharged of Trust if she survives Grantor.
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Last modified: May 25, 2011