7/9/1964 · AGREEMENT · book 39 page 593 doc 8532@39/593

593 the full loan of twelve thousand dollars ($12,000.00); and grantor agrees to complete the erection and repair of said buildings within a reasonable time from the date hereof or at the latest on or before twelve (12) months from date. This mortgage is made upon the statutory condition and with the statutory power of sale, pursuant to the provisions of the laws of Rhode Island. In the event of any foreclosure sale or equity proceedings, the mortgage debt shall include the costs of collection, including a reasonable attorney fee. In Witness Whereof, HEAVER HOMES, INC. has caused these presents to be signed by its duly authorized president and its corporate seal impressed this 8th day of July, 1964. Signed, Sealed and Delivered in presence of: Geursen D. Silverberg Geursen D. Silverberg Robert D. Ford Robert D. Ford STATE OF CONNECTICUT ss. Norwich July 8th, 1964 COUNTY OF NEW LONDON Personally appeared Harmon W. Kelley, President of Heaver Homes, Inc., and as such signer and sealer of the foregoing instrument and acknowledged the same to be his, and his free act and deed, before me GEURSEN D. SILVERBERG Geursen D. Silverberg Notary Public Received for record July 8th, A. D. 1964 at 2:49 o'clock, p. m., and recorded by [Signature] Town Clerk ---- KNOW ALL MEN BY THESE PRESENTS: THAT, THE NORWICH SAVINGS SOCIETY, a corporation located in Norwich being business in Norwich, New London County, Connecticut, does hereby release and discharge a certain mortgage from HEAVER HOMES, INC., a Rhode Island corporation located and having its principal office and place of business in the town of Charlestown, Rhode Island County, State of Rhode Island, made to said Society and dated July 8, 1964, and recorded in Charlestown, Rhode Island Land Records in Vol. 39 page 592-593. IN WITNESS WHEREOF the NORWICH SAVINGS SOCIETY has caused these presents to be executed and its corporate seal affixed and sealed G. O. Zurner its Treasurer, heretofore duly appointed, this 24th day of September 1965. Signed, sealed and delivered in the presence of: Nelson G. Wright Nelson G. Wright Agnes R. Sanders Agnes R. Sanders STATE OF CONNECTICUT ss., Norwich September 24 1965 COUNTY OF NEW LONDON Personally appeared Hartwell G. Zurner, Treasurer of THE NORWICH SAVINGS SOCIETY, and as such signer and sealer of the foregoing instrument, and acknowledged the same to be his and his free act and deed, before me NELSON G. WRIGHT Nelson G. Wright Notary Public Received for record September 29th, A. D. 1965 at 9:00 o'clock, a. m., and recorded by [Signature] Town Clerk ---- I, FLORENCE C BODE, of Charlestown, County of Washington, State of Rhode Island (hereinafter referred to as the Grantor), hereby declare and acknowledge that I set over, transfer and convey to VIRGIL C. BRINK, of Watertown, Massachusetts, and JAMES A. BRINK, of Dedham, Massachusetts (hereinafter with their successors referred to as the Trustee), the property described in a schedule of oven date attached hereto marked "A" to be held upon the trust hereinafter set forth in this instrument. CLAUSE FIRST: The Trustees hereunder shall have the power to take from time to time receptions additions to the trust fund to be held under the trusts created by this instrument whether real or personal property, from the Grantor or any person including property bequeathed or devised by the will of any person. CLAUSE SECOND: Until the Grantor's death, the Trustees may from time to time in their discretion pay to the Grantor so much or all of the income and principal of the trust fund as in their discretion they deem advisable. CLAUSE THIRD: Upon the death of the Grantor, the Trustees shall divide the fund into equal shares so that there will be one (1) share for each of the Grantor's children then living, or then deceased and survived by their

594 living issue, shall distribute the share of each deceased child to such child's then living issue by right of representation and shall hold and dispose of the share of each living child on separate trusts as follows: A. During the life of a child for whom a fund is held, the Trustees may in their discretion pay to such child from time to time so much of the income and principal of the fund as they deem advisable; provided that the Trustees shall pay to such child as soon as they deem advisable after the Grantor's death such amount of the principal of the fund not exceeding Five Thousand ($ 5,000) Dollars as the Trustees deem feasible. B. Upon the death of a child for whom a fund is held, the Trustees shall distribute the remaining income and principal of such child's fund to such child's then living issue by right of representation and, if there are no such issue, to the Grantor's then living issue by right of representation. C. Whenever under this CLAUSE THIRD distributions are required to be made free of trust to a beneficiary for whom a fund is then held under this instrument, the amount of such beneficiary's distribution shall be added to and disposed of with the trust for such beneficiary, and whenever distributions are required to be made free of trust to a beneficiary for whom no fund is then held under this instrument and who is a minor, the amount of such beneficiary's distribution shall be held for him or her upon the trusts set forth in CLAUSE FOURTH. CLAUSE FOURTH: Each fund required to be held for a minor shall be held upon separate trust as follows: A. Until the beneficiary for whom the trust fund is held reaches the age of twenty-one years, the Trustees may from time to time in their discretion pay to such beneficiary so much of the income and principal of his or her fund as in their discretion they deem advisable. B. When the beneficiary for whom the fund is held reaches the age of twenty-one (21) years, the then remaining income and principal of such beneficiary's fund shall be distributed to such beneficiary. C. If the beneficiary for whom a fund is held dies before reaching the age of twenty-one (21) years, the then remaining income and principal of such beneficiary's fund shall be distributed upon his or her death as follows: 1. By right of representation to such beneficiary's then living issue; 2. If there is no such issue, in equal shares to his or her surviving brothers and sisters, the then living issue of each deceased brother or sister to take by right of representation the share to which their ancestor would have been entitled if then living; and 3. If no person referred to in subparagraph 1 or 2 hereof is then living, by right of representation to the Grantor's issue then living. 4. The foregoing provisions are subject to the condition that the distributive share of each distributee for whom a fund is then held under this instrument, shall not be paid to such distributee, but shall be added to such distributee's own fund and thereafter held and disposed of as part of such fund. CLAUSE FIFTH: The foregoing beneficial interests are also subject to the following provisions: A. Whenever during the continuance of any trust established by this instrument the Trustees are authorized to distribute income or principal to any person, the Trustees may make such distribution, directly to such person, whether or not under age, may make such distribution to such person's guardian or conservator, or pay a p.u.c distribution for the benefit of such person, and the Trustees shall have the power to determine what expenditures are for the benefit of any such person. B. All provisions in this instrument for the payment of any sum, whether principal or income, are subject to the further provision and condition that said principal or income shall not be anticipated, allocated or in any other manner assigned by the person entitled thereto and shall not be subject to be reached or applied to satisfy any claim against such person. CLAUSE SIXTH: The Trustees shall have the following powers, rights and exemptions in addition to and not in limitation of any given otherwise in this instrument or by rules of law, and the following provisions shall apply to them: A. They shall have power on such terms as they deem proper to buy, exchange, sell

595 and encumber real and personal property and to borrow money, at such times and on such terms as in their discretion they deem proper; to make leases of any duration; to retain and invest in real and personal property of any kind, amount, or proportion; to compromise or arbitrate any matter and to pay any debt upon such evidence as they deem sufficient; to vote stock in person or by proxy and to take such other action as they deem proper; regarding securities or changes therein by reorganization or otherwise; to make distributions at valuations which they deem fair to any one or more beneficiaries wholly or partially in kind; to execute, acknowledge and deliver all necessary and proper contracts, deeds and other instruments incident to any of their powers of description and propriety; to keep securities and property in Massachusetts or wholly or in part in other jurisdictions and to use any part thereof in the name of any one of nominees; to decide all questions as to what is income or principal and all questions of apportionment between income and principal in such manner as they deem proper employing in such agents, attorneys and investment counsel as they deem proper and to pay reasonable compensation for their services out of the trust fund. B. All powers and directions given to the Trustees shall be absolute and unconditional and, if exercised in good faith, shall not be subject to review by any court, and all decisions, divisions and determinations made by the Trustees in good faith shall be final and binding on all persons, whether ascertained or in being or not. C. No Trustee shall be personally liable for anything which in he good faith does or fails to do or for any action or failure to act of any predecessors or co-Trustees, but shall be liable only for his own personal fraud. D. Every successor Trustee shall have the same powers, rights, exemptions and deductions and shall in all respects be in the same position as if originally named Trustee. E. No bond, surety or security shall be required of any Trustee. F. Any account of the Trustees or any action taken by them or any charges made or allowed by them, approved in writing by a majority of the persons then competent to act who are at such time entitled to receive any distribution from the trust fund involved, shall be binding on all persons, whether ascertained or in being or not, who are then or may hereafter become interested therein. G. An interest in real estate will comprise a portion of the trust corpus and, accordingly, this Declaration and Agreement of Trust may be recorded in the Land Evidence Records of the Town of Charlestown, in Washington County, Rhode Island. A certificate signed and acknowledged by any Trustee for the time being certifying as to who is the Trustee for the time being or to a change in the Trustee or to any other fact affecting the trust the Trust fund or this instrument shall be conclusive evidence thereof, and if this Declaration and Agreement of Trust is so recorded such certificate shall be ineffective unless also so recorded. H. Any Trustee may resign at any time by a written instrument delivered to the Grantor or to any other person at that time entitled to receive distributions of the income or principal of the trust fund, and if this Declaration and Agreement of Trust is recorded as provided in the above Paragraph G, such resignation to be effective shall also be so recorded. I. No corporation, trust, agent, representative or other person dealing with any fiduciary under this Instrument shall be obliged to see the application of any money or property delivered to such fiduciary or to examine into the trusts upon which such property is held. J. Any vacancy or vacancies in the office of the Trustee shall be filled by such person or persons as is designated in a written instrument signed by a majority of the Senior Partners of the law firm of Hale and Dorr, Boston, Massachusetts, or any successor to such firm, and delivered to any person then entitled to receive distributions of the income or principal of the trust fund, and if this Declaration and Agreement of Trust is recorded as provided in the above Paragraph G, such designation to be effective shall also be so recorded. CLAUSE SEVENTH: This Declaration and Agreement of Trust may be amended, modified or revoked at any time and from time to time by a written instrument signed by the Grantor and the Trustees and, if this Declaration and Agreement of Trust is recorded as provided in Paragraph G of CLAUSE SIXTH, such designation to be effective shall also be so recorded. No exercise of the power under this Clause shall extinguish it, but the power may be released in whole or in part or at any time by from time to time by an instrument similarly executed and recorded. CLAUSE EIGHTH: The Trustees may in their discretion pay such amounts from the trust fund to defray such part or all of the expenses of administration of the Grantor's Estate and all Federal and State estate, legacy and succession taxes imposed by reason of the transmission of any property at the Grantor's death as the Trustees and the Executor of the Grantor's estate may agree. The Trustees may compromise and pay any such tax on future interests passing under this Declaration and Agreement of Trust whether or not such taxes are then due and payable.

596 2RaBA CLAUSE NINTH: This trust may be known and referred to as the "FLORENCE C. BODE TRUST." EXECUTED in triplicate under seal at Boston, Massachusetts, this fifteenth day of July, 1963. FLORENCE C. BODE Florence C. Bode Date: 7/15/63 County of Suffolk, Massachusetts ) ss. Then, personally appeared the above-named FLORENCE C. BODE and acknowledged the foregoing instrument to be her free act and deed, before me, REMSEN M. KINNE, III Notary Public Commission expires 1/28/64 We, the undersigned, hereby accept the foregoing assignment from FLORENCE C. BODE upon the trust set forth. VIRGIL C. BRINK Virgil C. Brink JAMES A. BRINK James A. Brink SCHEDULE "A" TO ACCOMPANY TRUST ASSIGNMENT OF FLORENCE C. BODE Dated July 15, 1963 --------------------------------------------------------------------------- The following personal property and rights are those transferred by the trust assignment above described: $1,000 United States of America Treasury Bond 4% due Feb. 15, 1980 with Feb. 15, 1963 and subsequent coupons attached 40 shs. Best & Co., Inc., common, P. V. $1.00 40 shs. The Great Western Sugar Co., common P. V. 30 shs. The Celotex Corporation, 5% cu. prfd., 30 shs. Freuhauf Trailer Company, 4% prd. p. v. $100.00 100 shs. Handy & Harman, common, p.v. $1.00 10 shs. Nope's Island Association, Inc. 105 shs. Cooper-Huffman Corporation common, p.v. $5.00 Cash $22,500. Savings Account No. 9995 First Federal Savings and Loan Association of Wisconsin, balance $1500.00 July 15, 1963 FLORENCE C. BODE Received for record July 9th A.D. 1964 at 11:45 o'clock, a. m., and recorded by [Signature] Town Clerk