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Home My WebLink About12-20-12Reset PETITION FOR GRANT OF LETTERS REGISTER OF WILLS OF CUMBERLAND COUNTY, PENNSYLVANIA Petitioner(s) named below, who is/are 18 years of age or older, apply(ies) for Letters as specified below, and in support thereof aver(s) the following and respectfully request(s) the grant of Letters in the appropriate form: Decedent's Information Name: Clvde L. Strock File No: (~ I _ ~ ~ -" ~ ~ ~" a/k/a: (Assigned by Register) a/k/a: a/k/a: Social Security No: 204-30-5371 Date of Death: Aaril4, 2012 Age at death: 88 Decedent was domiciled at death in Cumberland County, penngylvania (State) with his/her last principal residence at 791 Williams Grove Road 17055 Mechanicsbure Uooer Allen Townshi o Cumberland Street address, Post Ofitce and Zip Code City, Township ar Borough County Decedent died at 791 Williams Grove Road. 17055 Mechanicsbure Uoper Allen Townshio Cumberland PA Street address, Post Omce and Zip Code City, Township or Borough County State Estimate of value of decedent's property at death: /fdomiciled in Pennsy[vania ........................... . All personal property $ 40.000.00 /f not domiciled in Pennsylvania ....................... . Personal property in Pennsylvania $ /jnot domiciled in Pennsylvania ....................... . Personal property in County $ Value of real estate in Pennsylvania ..................... .................................... $ ~ 00 TOTAL ESTIMATED VALUE.... $ 40.000 00 Real estate in Pennsylvania situated at: (Attoch additional sheets, ifnecessmyJ Street address, Post Ofnce and Zip Code City, Township or Borough County ® A. Petition for Probate and Grant of Letters Testamentary Petitioner(s) aver(s) he/she/they is/are the Executor(s) named in the last Will of the Decedent, dated July 25, 2000 and Codicil(s) thereto dated none State relevant circumstances (e.g. renssnclation, death of executor, etc.) Except as follows: after the execution of the instmment(s) offered for probate Decedent did not marry, was not divorced, was not a party to a pending divorce proceeding wherein the grounds for divorce had been established as defined in 23 Pa. C.S. § 3323(8), and did not have a child bom or adopted; and Decedent was neither the victim of a killing nor ever adjudicated an incapacitated person. Q NO EXCEPTIONS O EXCEPTIONS ^ B. Petition for Grant of Letters of Administration ([f applicable/ c.t. a., d. b. n., db. n. c. t.a., pendente lite, durante absentia, durante minoritate If Administration, c.t.a. ord. b. n.c.t.a., enter date of Will in Section A above and complete list of heirs. Except as follows: Decedent was not a party to a pending divorce proceeding wherein the grounds for divorce had been established as defined in 23 Pa. C.S. § 3323(8) and was neither the victim of a killing nor ever adjudicated an incapacitated person. Q NO EXCEPTIONS O EXCEPTIONS Petitioner(s), after a proper search has/have ascertained that Decedent left no W ill and was survived by the foll~sr'iinW pouse addidional sheets, if necessary): W X77 m 'v ... rj~ Name Relationshi At11tPe t" rV rr~ rs1 ~ ~ :i' ~ ~ C1 0 (7 O -qt _3 'rr f~ L ~ ~ ~:~ _.I F_, Yj ~ (~ V!, 0 For,n HW-nz rev. r¢u~zon Page 1 of t Oath of Personal Representative COMMONWEALTH OF PENNSYLVANIA COUNTY OF Cumberland } } SS: Official Use Only EC~R~1rG 0~"1^E ~F c Petitioner(s) Printed Name Petitione s Printed Address ~ V Mabel L. Strock 791 Williams Grove Road Mechanicsbur PA 17055 ~ l i CLERK C= ORPHANS' CO;;RT V ., The Petitioner(s) above-named swear(s) or affirm(s) the statements in the foregoing Petition are true and wrzect to the best ofthe knowledge and belief of Petitioner(s) and that, as Personal Representative(s) of the Decedent, the Petitioner(s) will well and truly administer the estate according to law. Sworn to or_affirmed subscribed before ~ ~'L~G-~L~ ~. ~~ Date % ~- z ~ me thi ~ P-'~~ Date By ~ Date .Fo the Register r1/ Date BOND Required: Q YES ,F] NO Ta rke Register aj Wi!!s: FEES: ZZZ ___ Please enter my appearance by my signature below: Letters ................... ... $~_ ( 3) Short Certificate(s)... .. , ~~, ( )Renunciation(s)...... .. . ( )Codicil(s) .......... .. . ( )Affidavit(s)......... .. . Bond ..................... ... Commission. . Other ..,, ,. IS Automation Fee ............. JCS Fee. . .. TOTAL ................... .. $ ly Attorney Signature: ~~ 7 Printed Name: T Gary J. Heim Supreme Court ID Number: 32774 Firm Name: Persun & Heim, P.C. Address: 1700 Rent ('reek Rn levard C 'r 1 h0 1Mechanicshi r~ PA 170 0 (717)620-2440 (7171620-2442 ,~~ rim Cd^ h ' DECREE OF THE REGISTER Estate of Clyde L. Strock File No: ~~ - ~ ~ - ~ 30~ 2 a/k/a: AND NOW, d ~ la , in consideration of the foregoing Petition, satisfactory proof having been presented before me, IT IS DECREED that Letters Testamentar are hereby granted to Mabel L. Strock in the above estate and (if pplicable) that the instrument(s) dated July 25. 2000 described in the Petition be admitted to probate and filed o~ord as the last ~Vill~and Codicil(s)) De dent Ke'gister of Wills ~ ~/ ~ Form R4K02 rev. 10/l //ZOl! PagC 2 Of 2 LOCAL REGISTRAR'S CERTIFICATION OF DEATH WARNING: It is illegal to duplicate this copy by photostat or photograph. RECORDED OFFICE OF Pee for this certificate, ~6.~EG~ST~~ DY ;d'~i $ zo~~ DEC zo A~~ , os CLERK G+i~ __ P 18 ~. ~ 5 ~tI~F~HANS' CCUR?' CertiFicadon Num~'~FMBERLAND CO., PA elRr~ This is to certify that the information here given i~ correctly copied from an original Certificate of Death duly filed with me as Local Registrar. The original certificate will be forwarded to the Stare Vital Recordr, Oftice for permanent tiling. -~~. ~~. Local F:egistrar Date Issued <OMMOHWERLMOE rENXRYlVPn4•PMMiMFM Oi NExtiX•VrtxLPECM05 fFYTIGIfATF AF bEATH .__.._.,. _._ wne,m'uepl x.m.6mv MUaM 1„e wmq nsmns..v,nV numx, acre er ~~rn lmu/UwnOlsxN and ~, C1 Struck Male 204-30-53]1 April 4, 2012 m reuaIIComrnl R al RMna.r trot s we.r1U ,<.o Inn lMe/o.rnurl lsoel MenNl ,x. mnnrlw lcnv,nasyu R u 1923 Mechanics PA Ma 11 Y , 88 ,x nrrodW, umMrl w eolwM.ln.umRUe{e rarnlrvl {b. M.Mwaliw.uee nllmw,nmllw nrr no.l x. wwamux,le.re.,xnwt 791 Wi Lliams Grove Rd. Q.,. w,.e.IIr lW.am 1z.vr 11en u,lwpa ImIIIIrrI C1mlEerlazd M. Rma.Ilw lnpced.l ^xo,awm.Ilulwawnm..Iwu..r =NVm.,=. n VS.lmeaforufi rvl5,nx,r rFnearwnll ~.r„n[a ^W M 11. suMNMSrwre'rH,me111 W1,.{Xe n,me Wlerulwr m,rxyq 10 o ovv,r.e ^xw .,,xa ^w a:: rR>•x, ox. ~I u .rl, mellwEmlaak. Yrt, SOMA ~~ I.MMMh wmR r,b, rn ll,ar M.,ay.Nnr.MMax. urn G. Weir Stxpck Rtnda Peck z e .m,m,Ilr.n.m. Mb. RRxrv.m pr. o.RMRm u ro II{nee, Is na ee,, nn s ww1 1~~15 Mabel Struck wife 791 Wrlliame Grove Rd.z Mechanicsburq, m,.,xd.vn3.. CY ...... 61 .. .......... ..ia;;w i. r. .... f1.P:o ....;'i'r mou.nm som::;n: xmrw v.nm o...e..iSriem. _ 3 ^Eme, zr ovum/wrrMxNl ^ w.e a„R,nrn nO,uM xe,IrRlrarnrm o,. r.min ww,ISOWIMI , ,Wale x,m,nr,pr.I,narw...I...l,wr..a..mb.. , nor.wm.smR,wnpcpen zsa wlmnm ~ s 791 Wi111ama Grove Rd. uzd Mechanlcaburg, PA 1]055 Clmber MnW Orw.wnxm Qeu ^c m.nur ~ zaeon, Orw,onmen en,a Ora.pwmm~ lx.meaameon. n,m.rwr, u,umer plssa ^ povrl.Il ~ R Cemetery H 201 Chestrrut A il 9 rnw~lsmnMl pr r l e< mq >rp+ Mx.,e aa s ^ n.,{, L n ,s. .,mw,.rxsr .~ x' ,.fir 011667 L N PA 17055 Mechanicsburg, S ,.a curl r.ue,o Wow 17 s n ' 8 z em rmmm aw.,I ,.nx u. wr.e.mmxlrp.Illmnn.. unnm, zooWmmnnW...eMn oxE an MOne,m,wmdm.r,nn rw a.emrv ENU, w-emn a n .,l eRV..., L.Im WxwlmmvLr.eurM xm,.ra,n ro. and w,r eex.Iw..,n.MW m. eW.e.m wMUe.m em,Me,.a xlmmrelmm~no e<. x Q eM {nh erbn Ns nMMUwnlWnne. [ne6 me"XO' re ^xorc al w s., nr,K..am.mll ^m wwanm.r llvup.d,n/xnwllK/L.nIIO. p pup ammm..Rm anx {,M. Rna n . H sr•nMixl, mRmrM ^nm.n..,Iwl.. e,xlWMww. ^ar . , a. c owmdd. ^N y Wwd M, , m ~ .~ ~ e b o ~ m e ` n .n..~, cn~.... p a .. , en= oeael, p~ ^s .wl ne, m. ann•• ~ ~ x elam C x , ,,,, „x „ .Ilw„ u h.v.kxl ^rt xo~ ' a o s,mO.O anue x.. R Rsl ^r. cnm r o waew ~'wl"° O ome,vWlnlmnaM ^M eele. {. Mx, MS. MEn{,M SW. MBI.I ^ve.orM,SwnIT/NnwnK/uxne ^1 me ^o mnv. vno, mot p, r,q„dpa,lenMR Iswenl ^am..lsw=xvl , n~ ML om wM ue to » .e.mr MMRW.sxr.wu{Mxe,r. cnaaxty axe r.IMKn. wrrb.aW.a,m.enxw,.a mm,me, n.,.a mbR. n,.wua.I,Rx u.wloallpWM..llunr. nw erl..n ~ ^z.rm. ^w avlLe.,Irymwr pr.vmry nx. roxor usumnto. weu. x ^om•>,gn.In,.w, agriculturist/farmer ~Rhdoramnnwnotan ^Rp,wn m. o, u,n. x.n ^am. R Onw~.a /xd w,. om W ^ ~.eli^ zzbxlwmwx,n4memrrv ~ oeR.. ^n.xww.xx~ ^om., ISmlwl agriculture/farming p ar,Rw ^ xIIgIIO ^ w ortn.me,,. c .»eMxar ycomneno n nb.nw a,n Wr•.. N,.m. nom ., a rc Y,rmro wrclry0.n u w 13i {YMRSCII WROMOxOVMCFSOR 1 ~ ` O ¢RtIF1t90GTl neon, rsl el ow l °"'n eta D Z lJY M 1s. WU MNN,iFUm pna Cm,W,HI ^ Ve ppro m, e USE OF DEATIt Ea. r,n rlly ,u,. ;er rlonr-rwr on wea rwaenb. ter urminalevenn ,rrefr i Interval. Sll~l ylJYtyt<w IWWM wmgKa moo OO nT en {Enrw n b rr V r 4~ M d rb e wp o n Ir W al l 1 n,p~mo•v,mn,ar r,en ~ cry me, Onh env evn.On,nnen ,en, ne, n,uru ^ MXIx wr rMwM rxeAd Wx lxxaPENI.RE n'. ~ ~ 10 ~C ~~- !~-' IMMEOIRrt oust - --_.., a. IFlnal mM lo. r ro lo, W,[pmRaIIRII=•oR. rUam{maorM.n ~" b weblora, mmepuna OR ' s,puenmlh In wlklrnm, r e rxe owe MIMr E [ - IoM n M OOUpIO„u mnrnuena erl UxoM[vmewVf[ lelu rnu tine ~ ouemlOr,umnrequenu Nl eennlun n lE Eme, erlln nbur nor rnulrln{m de unanlylnvuu,e R„t in p,nl ] vpe'rOr eai v a ,r ^ , r ^ r F pn NnMMt,v,l4ple 3B. W ~ r. r n ^H e R. a m. Dar wr .c a .rnr lo I O rw m s w R pr won l 6 n O {na ^ e y pyru, ^x a ~n I ^ nn r y O ~ , ,~ .. x a,{.. wM~. amt. =r WO Eyr ^ U \ne a ^ x Me r ,erermin.a ^ cmrl u ^ aam. _ ~ p ~„ m,. a.,m l ~ n•, r rl l e .r.. ..rv lMawvnnlswNM .MI e.Il Nwr ~ .m.nnm m. wn ~ , ^ V ~r I n m.alnrv W. onm•nl.v nerve w,IO,IInwll nr., r..m,rmmn zs r..,no,.onmarvlsx.x,ae wmeR,,orv,nan, npcm,l IMerv wee ,. nnn.mwnaloll mWn.swnrv-. ,.ne. xeam.n oa.n.e. o r., o air.,/dwr.rW ^ e.w.ram p'ne ^..rWryx ^wxR, ISpHIm r mmw ann_ )Ri {nmR ~ ^ n .,.be.Rre m. r,.wq,m nner n.rm Q v a r GM, one ol,u,,naeueuxx uuu,I me mmmnmM Ynwxye,anm eum eenm mW Wnelmr IMMO W=I,n Meak,l F. Vll rxea el v narbn,,nal>Invnrllarkn, In rrry odmw.eurFe<ann,r MelMV.aWE ma d,u.,na sue rp rMUUrgslana m,nne,ruM1o ^ A w,r n n. .~,ee,..,.ee aprae.q amwuMC,wy xm ml ~ R ImArownq / / ~77 ~ rv hl 61D / L- a.R.a,rr r,o..r~ l .rRy , gl' 1~Mp r ~ L ., .m.~em.m, xn~rmp.R.,mxnp. U6436d:i RE~a,lRarr Last Will ~xncl Test~z~ent of CLYDE L. STROCK I, CLYDE L. STROCK, of Mechanicsburg, Cumberland County, and Commonwealth of Pennsylvania, make this my Last Will and Testament and revoke all prior Wills and testamentary instruments of any kind. ARTICLE I. PAYMENT OF DEBTS AND FUNERAL EXPENSES. I direct my Executor to pay all my just debts and funeral expenses from my estate. ARTICLE II. TRANSFER OF PERSONAL AND HOUSEHOLD ITEMS. I give and bequeath my automobiles, clothing, jewelry, books, pictures, furniture, furnishings, and other personal or household items, together with all property insurance relating to such items, to my spouse, provided my spouse survives me for a period of thirty (30) days. If my spouse predeceases me or. if my spouse fails to survive me for a period of more than thirty (30) days, then these personal or household items shall be transferred according to a list which I intend to attach to this Will. If there is no list, then all such personal and household items shall be pint over anB:>' c -~.; ~,, '.x transferred to my children according to their own arrangements. If they canrlt~st~ree or-', ~~~ `') :-) , rn < ~ ~ ~ c:': ro arrange for a division in a friendly way, then my Executor may distribute or A ~ r- -~ t,... ~p~t:'Uft~se ~;~ ;y items in any way he deems to be fair, includin rivate sales or a ublic sal ~~ n -'' ~~~ -' -.-. ,::: .: -_ _.i r P"' tvi "~d Y'° S~ C7 lJ) i:7 V l `~7 strock Clyde will 7/24/00 #203418 If any minor becomes entitled to any items under this Article, those items may be delivered to the minor whenever my Executor decides, provided that the transfer shall take place not later than the date when the minor reaches the age of twenty-one (21). ARTICLE III. REMAINDER AND RESIDUE. A. All other property that I may own or that I may be entitled to dispose of or to appoint at the time of my death, I give, devise, bequeath, and appoint to my spouse. B. My spouse may find it appropriate to disclaim all or part of the residuary bequest made to my spouse under Article III-A above for tax planning or other purposes. I give any such disclaimed property, and any other property or interests in property which may become payable to my Executor or my Trustee by reason of a disclaimer or a renunciation by my spouse, to my Trustee, IN TRUST, NEVERTHELESS, according to the terms and provisions of Article V below, subject to the terms of Article IV below. C. If my spouse predeceases me, then all the remainder of my property shall be divided into four (4) equal shares. I give, devise, bequeath, and appoint one (1) equal share to each of my children, KENT L. STROCK, ALAN W. STROCK, KAREN L. SIMMONS and JOAN L. EGOLF. This bequest/devise of my residuary estate shall be subject to the terms of Article IV below, giving an option to purchase certain farm real estate. In the event that any child fails to survive me and leaves issue living at the time of my death, then I give, devise, and bequeath that deceased child's share in equal parts to the issue of that deceased child who are living at the time of my death, per stirpes. The share of any such issue under the age of twenty-one (21) years shall be paid over and transferred to a -2- Trustee, IN TRUST, NEVERTHELESS, for such issue and that trust shall be administered as a separate trust for that issue according to the terms of Article III-D below. In the event that any child fails to survive me and leaves no issue living at the time of my death, then I give, devise, and bequeath that deceased child's share in equal shares to my other children, per stirpes. D. The share of any issue of a deceased child shall be paid over and transferred to a Trustee, INTRUST, NEVERTHELESS, for such issue if such issue is under the age of twenty-one (21) years. The share of each such issue under the age of twenty-one (21) years shall be administered as a separate trust for such issue according to the following terms and provisions. The Trustee shall pay over or use, apply, and expend income or principal or both for such issue in such amounts as the Trustee, in his sole discretion, shall deem advisable in order to provide health, support, maintenance, and education for such issue. At the time when such issue attains the age of twenty-one (21) years, but in no event later than twenty-one (21) years following the death of the survivor of my spouse and myself, that issue shall have the right to withdraw all the accumulated income and the entire remaining principal, and the separate trust for such issue shall then terminate. Should the principal of any such trust become too small, in the Trustee's sole discretion, so as to make the continuance of the trust inadvisable, the Trustee may terminate the trust and make immediate distribution of the then remaining principal and any accumulated income or undistributed income outright to such issue, and the rights of any other potential beneficiaries of such trust shall automatically cease and determine. The Trustee of each such trust for the issue of a -3- deceased child of mine shall be appointed by the court that has jurisdiction of this type of matter at that time. ARTICLE IV. OPTION TO PURCHASE FARM REAL ESTATE. Following the death of the survivor of my spouse and myself, I give, devise, and bequeath to my children, KENT L. STROCK and JOAN L. EGOLF , (hereinafter referred to by their first names or as "farming children" or "farming child") the option and automatic right to purchase all of my farm real estate (hereinafter "farm real estate") from my estate or the beneficiaries of my estate. For purposes of this Article, "farm real estate" shall include the approximately eighty-four (84) acres in Upper Allen Township, Cumberland County, Pennsylvania that my spouse and I presently own, (excluding, however, our ranch house and approximately five (5) acres under and around this residence), the dwelling(s) on the farm real estate (excluding the ranch house and 5 acres and any household items and personal effects), the farm buildings and structures, and any farm real estate that may be owned by a corporation, partnership, limited liability company or other entity that my spouse and/or I own completely or at least control. The ranch house and five (5) acres under and around that residence described above is excluded from this option, but it is my desire that this residence and 5 acres will be offered for sale to one or more of my children before it is put up for public sale or sold to someone outside of my immediate family. The bequest of these option rights to my farming children shall be subject to the provisions of Articles IV-A through IV-M below. A. This bequest of these option rights to my farming children is subject to the conditions that: (1) they survive me; and (2) they are actively and materially participating in a -4- farm business utilizing some or all of my farm real estate at my death. Each farming child must satisfy both conditions to be entitled to exercise these option rights. Should all of my farming children fail to survive me or should none of them be actively and materially participating in a farm business utilizing some or all of my farm real estate at my death, then these option rights shall be null and void and cannot be exercised by my farming children. Should one or more, but not all of my farming children fail to survive me or should one or more but not all of my farming children not be actively and materially participating in the farm business utilizing some or all of the farm real estate at my death, then the farming child(ren) who has survived me and is actively and materially participating in the farm business shall have the right to exercise these option rights. A farming child shall be considered to be actively and materially participating in the farm business if either he/she or his/her spouse is the one actively and materially participating in the farm business. Also, a farming child shall be considered to be actively and materially participating in the farm business even if he has other employment and is operating the farm business on a "part-time" basis. If a farming child is retired and is sixty (60) years of age or older at the time of my death and he had actively and materially participated in the farm business using some or all of my farm real estate for at least twenty (20) years prior to his retirement, then he shall be entitled to exercise this option even if he is not actively and materially participating in the farm business at the time of my death. B. This option shall continue for a period of one (1) year after the date of the death of the survivor of myself and my present spouse, and, at the end of that time, it shall automatically expire and shall be null and void. My farming children may exercise this option at any time during the term of this option by giving written notice of their intention to exercise the -5- option to the executor or other personal representative of my estate. The written notice must be received by at least one (1) personal representative of my estate by the end of the option term, if personally delivered, or shall at least be postmarked by the end of the option term if mailed. If more than one of my farming children qualify to exercise the option, but for some reason one or more of them does not want to exercise his option rights, the other farming child(ren) may exercise these option rights. C. The purchase price of the farm real estate for purposes of this option shall be the sum of Three Hundred Thousand and 0 100 ($300,000.00) Dollars ~Yhis purchase price shall be subject to adjustment according to the terms of Article IV-K below. D. My farming children shall have the right to pay the option price set forth in Article IV-C above either in a lump sum amount at the closing or over a period of time, as follows: equal monthly amounts over a period of fifteen (15) years at a fixed interest rate on the unpaid balance equal to seventy-five (75%) percent of the agricultural prime rate for loans on similar farm real estate in Cumberland County on the date of my death. The interest shall be compounded monthly on the unpaid balance of the principal and any accrued interest. My farming children shall have the right to prepay this deferred payment obligation at any time. This deferred payment obligation shall be evidenced by a promissory note, containing a confession of judgment clause, payable in the amount and under the terms described above. Further, this deferred payment obligation may be secured by mortgages, security agreements, or other conventional security arrangements at the request of the obligee(s) or holder(s) of that obligation. Any mortgages, security agreements, or other liens granted to the obligee(s) or holder(s) of this deferred payment obligation shall be subordinated to future farm financing or -6- refinancing at the request of my farming children if payments on this obligation are not in default and if this deferred payment obligation would still be reasonably secured after the subordination. It is my intention that my farming children shall have the right and opportunity to borrow money under conventional farm lending arrangements, which will require my farming children to grant a first lien against the farm real estate to that lender to secure those loans, provided that this deferred payment obligation will still be reasonably secured. It shall be presumed, for purposes of this paragraph, that this deferred payment obligation is reasonably secured as long as my farming children's total debts and obligations secured by my farm real estate do not exceed eighty (80%) percent of the then fair market value of the farm real estate that is used as collateral. Notwithstanding the rights given to my farming children in this Article IV-D to pay the purchase price over a period of time, my farming children shall be obligated to pay the purchase price in a lump sum amount: (1) to the extent there are debts, expenses, taxes, and other obligations in my estate that cannot be paid with other assets in the estate; or (2) to the extent that my farming children receive life insurance proceeds, pension or retirement plan benefits, or other liquid assets as a result of my death that can reasonably be applied towards the purchase price. E. The option given pursuant to this Article shall be personal to my farming children, and they shall not have the right to assign, sublease, transfer, or encumber this option in any manner without the prior written consent of the executor or other personal representative of my estate. -7- F. If one or more of my farming children exercise the option to buy my farm real estate, the closing shall take place within one hundred eighty (180) days after the executor or other personal representative of my estate receives the written notice of my farming children's intention to purchase the farm real estate. G. The purchase price under this option arrangement shall be paid and/or distributed according to Article III above, which provides that all my children, including my farming children, shall receive an equal share of my estate, including these option payments. H. Although it is my expectation that my farming children will want to purchase all of my farm real estate, they shall not be obligated to purchase all of my farm real estate if there are certain portions which they do not want to purchase and use in their farm operation. Real estate taxes and assessments, rents, and water and sewer rents shall be prorated as of the date of settlement. Realty transfer taxes imposed by any governmental body shall be borne equally by both parties to the sale. Any survey or subdivision costs necessary to carry out the terms of this option provision shall be paid as an administrative expense by my estate. My farming children shall bear all costs of recording deeds. J. My farming children shall have the right to receive a special warranty deed for any farm real estate. The title to all the farm assets shall be good and marketable, free and clear of all liens, encumbrances, easements, clouds, and other objections to the title; excepting, however, zoning and building regulations and restrictions, easements, and restrictions of record at the time of the transfer. Otherwise, title to the real estate shall be insurable by a reputable title insurance company at regular rates with no objections on its title report other than objections relating to the exceptions set forth above. -8- K. The purchase price of the farm real estate established in Article IV-C above shall be increased as set forth in this Article IV-K if my farming children sell or transfer the farm real estate other than in the ordinary course of their farm business for a period of ten (10) years immediately following my death or if they do not continue active and material participation in a farm business utilizing some or all of my farm real estate for a period of ten (10) years immediately following my death. My farming children shall be considered to be actively and materially participating in a farm business even if they have other employment and are operating a farm business on a "part-time" basis. Throughout this Article IV-K, any reference to the "ten (10) years after my death" shall refer to the "ten (10) years after the death of the survivor of my spouse and myself' as may be necessary so that this ten (10) year period begins after the farming children exercise the option to purchase the real estate. These conditions are subject to the following additional terms and provisions: If my farming children purchase my farm real estate at less than its actual fair market value according to Article IV-C above, and, within this ten (10) year period, they sell or transfer some or all of the farm real estate other than in the ordinary course of the farm business to someone other than another farming child, then the purchase price of the farm real estate that is sold or transferred shall be increased from the amount provided in Article IV-C above to the following percentages of the net proceeds of the sale or transfer of that farm real estate: one hundred (100%) percent if sold or transferred during the first two (2) years after my death; ninety (90%) percent if sold or transferred during the third and fourth years after my death; eighty (80%) percent if sold or transferred during the fifth and sixth years after my death; seventy (70%) percent if sold or transferred during the seventh and eighth years after my death; -9- and sixty (60%) percent if sold or transferred during the ninth and tenth years after my death. The following items and amounts shall be deducted from the proceeds of the sale or transfer to calculate the "net proceeds" of the sale or transfer: (1)sale-related expenses; (2) taxes resulting from the sale or transfer of that farm real estate; and (3) the functional agricultural value of any improvements (excluding repairs and maintenance) that my farming children made to my farm real estate that is sold or transferred. My overriding intention with respect to this provision is to avoid an unjust windfall to my farming children; it is not my intention to penalize my farming children so that they receive less than an equal share of my estate (probate and non-probate). This provision shall, therefore, be interpreted and applied in such a manner that my farming children receive at least as much net value from my estate (probate and non-probate) as my non-farming children receive even if they sell or transfer the farm real estate shortly after my death. Further, if my farming children sell or transfer a portion, but not all of the farm real estate, this provision shall be applied in a manner that accomplishes these goals and intentions on a pro rata basis. 2. If my farming children receive my farm real estate, but none of them continues active and material participation in a farm business utilizing some or all of that farm real estate during this entire ten (10) year period, the purchase price of the farm real estate shall be increased from the amount provided in Article IV-C above to the amount established by the various percentages and years in Article IV-K-1 above. Since a sale or transfer of the farm real estate may not take place in this situation, the fair market value of the farm real estate at the time of the discontinuation of the farm business shall be used in the calculations in lieu of the -10- proceeds of sale, but adjustments similar to those in Article IV-K-I above shall be made to calculate the "net fair market value" in lieu of the "net proceeds." 3. If more than one of my farming children receive the farm real estate, but during this ten (10) year period a farming child decides to sell or transfer his interest in the farm real estate other than in the ordinary course of the farm business or if a farming child does not continue active and material participation in the farm business during this entire ten (10) year period, then the farming child(ren) who does not sell or transfer his interest and who continues active and material participation in the farm business shall have the option to buy the withdrawing farming child's interest in my farm real estate at an amount equal to: (a) the share of the original option purchase price that each non-farming child was entitled to receive; plus (b) the following percentages of the net fair market value of the withdrawing farming child's interest in the farm real estate: five (5%) percent during the first two years after my death; ten (10%) percent during the third and fourth years after my death; fifteen (15%) percent during the fifth and sixth years after my death; twenty (20%) percent during the seventh and eighth years after my death; twenty-five (25%) percent during the ninth and tenth years after my death. The following items and amounts shall be deducted from the fair market value of the withdrawing farming child's interest in the farm real estate to determine the net fair market value of his interest: (1) the withdrawing farming child's share of the remaining balance of the original option granted in this Article. The farming child(ren) who continues the farm operation shall also assume and be responsible for the remaining balance of the original option purchase price. My farming children may modify the terms of this Article IV-K-3 if they mutually agree, in writing, making specific reference to this Article IV-K-3. -11- 4. The disability of all my farming children during this ten (10) year period shall be considered a discontinuation of their active and material participation in the farm business for purposes of this Article IV-K unless they, their spouses, their children, or their other issue continue active and material participation in the farm business during this ten (10) year period, and the same restrictions on the sale or transfer of the farm real estate shall apply as if my farming children were not disabled. The disability contemplated by this provision is a long term, substantial disability which would prevent my farming children from active and material participation in the farm business as compared with participation as a passive investor. If more than one of my farming children exercise the option to purchase my farm real estate pursuant to this Article IV, but during this ten (10) year period a farming child becomes disabled, my other farming child(ren) shall have the right to purchase the disabled farming child's interest in my farm real estate unless the disabled farming child's spouse, children, or other issue continue active and material participation in the farm business during this ten (10) year period. The purchase price for the disabled farming child's interest in the farm real estate shall be determined according to the various percentages and years in Article IV-K-3 above. 5. The deaths of all my farming children during this ten (10) year period shall be considered a discontinuation of their active and material participation in the farm business unless their spouses, their children, their other issue, their heirs, or their legatees continue active and material participation in the farm business during this ten (10) year period, and the same restrictions on the sale or transfer of the farm real estate shall apply as if my farming children were living. -12- If more than one of my farming children exercise the option to purchase my farm real estate, but during this ten (10) year period a farming child dies, the surviving farming child(ren) shall have the right to purchase the deceased farming child's share or interest in my farm real estate unless the deceased farming child's estate, spouse, heirs, or legatees continue active and material participation in the farm business during this ten (10) year period. The purchase price for the deceased farming child's interest in the farm real estate shall be determined according to the various percentages and years in Article IV-K-3 above. 6. If my farming children sell or transfer a substantial portion of the farm real estate after the ten (10) year period, but before all periodic monthly payments are made according to Article IV-D above, the purchase price of the farm real estate shall be paid in full immediately upon such sale or transfer notwithstanding provisions in Article IV-D to the contrary. 7. During this ten (10) year period, my farming children shall have the right to sell or transfer a portion of the farm real estate other than in the ordinary course of their farm business for the purpose of paying all or part of the purchase price of the farm real estate or to reduce their other farm-related debts and obligations, provided they continue active and material participation in the farm business. 8. During this ten (10) year period, my farming children shall have the right to sell or transfer all or part of the farm real estate other than in the ordinary course of their business to their spouses, their children, and their other issue for estate and business planning purposes intended to continue the farming operation in their families, but the farm real estate shall be -13- subject to the same conditions and restrictions set forth in this Article during this ten (10) year period. 9. If a farming child has continued or he continues active and material participation in the farm business until a reasonable retirement age, he shall be free to sell or transfer his interest in the farm real estate or to discontinue his active and material participation in the farm business at any time, even during this ten (10) year period. "Reasonable retirement age" shall be determined from a number of factors, including, but not limited to, the age of the farming child, whether he actually retires after he withdraws from the farming operation or engages in employment or business activities elsewhere, etc.; a farming child shall be conclusively presumed to have reached a "reasonable retirement age" when he has attained the age of sixty (60) years. 10. If timber is sold or removed or mineral resources, such as coal, oil, gas, or other natural resources, are sold, removed, or produced from the farm real estate during this ten (10) year period, my farming children shall be entitled to all these payments, royalties, and rentals produced from the farm real estate. Furthermore, my farming children may sell, lease, or remove timber and mineral and natural resources from the farm real estate during this ten (10) year period, and such sale, lease, or transfer shall not be considered a sale or transfer of the farm assets for purposes of this Article IV-K provided that my farming children continue to actively and materially participate in the farm business. If my farming children are paying all or any portion of the purchase price over a period of years, however, they shall be obligated to pay at least fifty (50%) percent of the after-tax proceeds of the sale, lease, or transfer of those -14- timber and mineral and natural resource rights towards the deferred payment obligation as those proceeds are received. 11. My farming children may sell or transfer development rights or restrictions or agricultural easements or similar rights during this ten (10) year period. Such sale or transfer shall not be considered a sale or transfer of the farm real estate for purposes of this Article IV-K provided that my farming children continue to actively and materially participate in the farm business. If my farming children are paying all or any portion of the purchase price over a period of years, however, they shall be obligated to apply at least fifty (50%) percent of the after-tax proceeds of the sale or transfer of those development rights towards the deferred payment obligation as those proceeds are received. 12. Each of my farming children may earn credits toward this ten (10) year period at the rate of one (1) year for every two (2) years that he actively and materially participates in a farm operation utilizing some or all of my farm real estate from the date of this Will to the date of my death. For example, if, at the time of my death, a farming child has actively and materially participated in the farm business for eleven (11) years from the date of this Will to the date of my death, then the ten (10) year period referred to in this Article IV-K shall be reduced to four and one-half (4-1/2) years as to that farming child because of his prior years of active and material participation in the farm business. Similarly, the percentages referred to in Articles IV-K-1 and IV-K-3 above shall be applied as if that farming child had already operated the farm business for five and one-half (5-1/2) years after my death. 13. After this ten (10) year period, my farming children shall be free to sell or transfer the farm real estate and interests therein or discontinue active and material -15- participation in the farm business without sharing proceeds according to the terms set forth in this Article IV-K and without any other restrictions on their use or the transfer of the farm real estate as set forth in this Article IV-K. L. My objectives and intentions with respect to my farm real estate are to give my farming children a reasonable opportunity to continue a farm operation utilizing some or all of my farm real estate. They have indicated an interest and a desire to do that. I do not believe that they could continue a farm business in an economical manner if they had to buy my farm real estate at its actual fair market value. On the other hand, I do not want my farming children to profit unjustly by receiving a greater than equal share of my estate if they decide to sell or transfer the farm real estate or if they discontinue active and material participation in the farm business within the ten (10) year period after my death. It is my desire that my farming children will continue the farm business for many years beyond the ten (10) year period after my death. M. Any references in this Article III to "farming child," "farming children," "non-farming child," or "non-farming children," shall be singular or plural as a proper reading of this Will may require. Similarly, although most of the provisions in this Article are written as if all my farming children will exercises this option, the various provisions shall be interpreted to apply in a similar manner if less than all of my farming children exercise the option. ARTICLE V. THE STROCK DISCLAIMER TRUST FOR MY SPOUSE. If my spouse renounces or disclaims property or interests in property that have been given to my spouse pursuant to Article III-A above, such property or interests in property shall be held, managed, invested and reinvested, and the income and principal thereof shall be distributed from time to time as set forth below in this Article. This trust shall be known as the Strock Disclaimer Trust. -16- A. My Trustee shall pay income in quarterly or more frequent installments to my spouse during my spouse's lifetime. My Trustee may also, in his sole discretion, make principal distributions to or for the benefit of my spouse for my spouse's health, support, maintenance, or education, but before making any principal distributions, my Trustee shall take into account all of my spouse's other readily available assets and financial resources, including entitlements to federal, state and local public assistance benefits. My spouse shall also have the right and power to invade the principal of the trust for my spouse's own reasonable comfort, maintenance, support, medical care, or education, provided that this power to invade shall be limited to the sum of Five Thousand and 00/100 ($5,000.00) Dollars per year or five (5%) percent of the trust principal per year, whichever is larger. Any right or power to withdraw principal during a particular year shall lapse if not exercised during that year. If these powers to withdraw are enlarged or reduced by the United States Internal Revenue Code, then my spouse's power to withdraw shall be enlarged or reduced accordingly to the extent that it will not result in the trust principal being taxed in the estate of my spouse. B. After the death of my spouse, this Strock Disclaimer Trust shall be divided, distributed, paid over, and transferred according to the terms of Article III-C and D and Article IV above. ARTICLE VI. APPOINTMENT OF EXECUTOR. I appoint my spouse to be Executor of my Last Will and Testament. In the event that my spouse is unable or unwilling to act or to continue to act in said office, then I appoint the following as alternates with all the same powers: First Alternate Co-Executors: My sons, KENT L. STROCK and ALAN W. STROCK. _17_ Second Alternate Co-Executors: My daughters, KAREN L. SIMMONS and JOAN L. EGOLF. ARTICLE VIi. APPOINTMENT OF TRUSTEE. I appoint my spouse and my sons, ALAN W. STROCK and KENT L. STROCK to be Co-Trustees of the Strock Disclaimer Trust. If neither of my sons can serve as trustee, then I appoint my daughters, JOAN L. EGOLF and KAREN L. SIMMONS, to serve as alternate Co-Trustees. ARTICLE VIII. DISCHARGE AND APPOINTMENT OF TRUSTEE. My spouse shall have the power at any time to remove or discharge the Trustee of the Strock Disclaimer Trust. If my spouse removes or discharges the Trustee, the alternate(s) named in Article VII above shall serve and if there is no remaining alternate Trustee named in Article VII above, then PNC BANK, its successors and assigns, shall serve as Trustee. In the event of the death, resignation, or incapacity of the Trustee of the Strock Disclaimer Trust, any alternate trustee named above shall serve in his place and if there is no alternate trustee named, then a successor Trustee may be appointed by a letter signed by at least a majority of the income beneficiaries (or their legal representatives) entitled to receive income at the time of the appointment. My spouse is not eligible to serve as a successor Trustee. Any successor Trustee shall have all the rights, title, powers, and discretion given the original Trustee. ARTICLE IX. INSTRUCTIONS REGARDING FIDUCIARIES. In the event that co-fiduciaries have been named for one or more of the fiduciary positions above, and if one or more of the co-fiduciaries is unable or unwilling to act or to continue to act in said office, then the other -18- co-fiduciary(ies) may continue to serve without the need for the appointment of another co-fiduciary. Any reference to my "Executor" or "Trustee" in my Will shall be deemed and taken to include each and every person or party named or appointed to serve in that office, whether there is one or more than one. Also, any reference to the masculine in my Will as it relates to my Executor or Trustee shall also include the feminine or the neuter wherever necessary. ARTICLE X. DEFINITIONS. Any reference to my "spouse" in my Will shall be a reference to my present spouse, MABEL L. STROCK, and shall not be interpreted to refer to or include any future spouse of mine. ARTICLE XI. ADDITIONAL PARAGRAPHS. I hereby incorporate by this reference the four (4) pages of General Provisions which are attached to this Will and made a part hereof by this reference. These General Provisions are intended to provide instructions and directions for the settlement of my estate, for the administration of any trusts, for possible tax savings, and for the orderly transfer of my property according to the terms of my Will. ARTICLE XII. PRESUMPTION OF SURVIVORSHIP. If my spouse and I die under circumstances which make it impossible to determine who died first, my spouse shall be presumed to have survived me for purposes of this Will. IN WITNESS WHEREOF, I, CLYDE L. STROCK, the Testator, have signed this Last Will and Testament, typewritten on twenty (20) sheets of paper (including the witnesses' signatures), of which this is Sheet No. 19, on this ~~ day o . 2o1K~ ~~i~(SEAL) Clyde Strock -19- SIGNED, SEALED, PUBLISHED, AND DECLARED, by the above-named, CLYDE L. STROCK, as and for his Last Will and Testament, in the presence of us, who at his request and in his presence and in the presence of each other, have hereunto subscribed our names as witnesses thi~ day of ~ , 20~'-• ~~ ADDRESS ~~ s Tow~n~and~/ at n r~,A~x, _ADDRESS ~ illy-/l~J,(~Q i~f~ Town and State Witness ~ Town and -20- ACKNOWLEDGMENT AND AFFIDAVIT COMMONWEALTH OF PENNSYLVANIA ^ SS. COUNTYOF~~ ~~ The Testator, Clyde L. Strock, whose name is signed to the foregoing instrument and the witnesses whose names are signed to the foregoing instrument, being duly qualified according to law, do hereby declare to the undersigned authority that the Testator signed and executed the instrument as his Last Will; that he signed willingly and that he executed it as his free and voluntary act for the purposes therein expressed; that each of the witnesses, in the hearing and presence of the Testator, signed the Will as a witness; and that to the best of their knowledge and belief the Testator was at that time eighteen (18) years of age or older, of sound mind and under no constraint or undue influence. 'c-d•C K, (SEAL) Clyd .Strock r „-(SEAL) Witness Subscribed, sworn to and acknowledged before me by Clyde L. Strock, the Testator, and subscribed and sworn to before me by (YA/~~/ l/- tfer~m , ~ ~~ ~° f}- ~} . ~~~G~!'rllL fj ,and ~1~ -~'~ ~ ~~ T ~~~-~~• the witnesses, this~'~ day of ` , 2~1.~-• '~Z~~ ,y(/'Z//~ (Notary Public) Notarial Seal Margaret L. Boyd, Notary Public Susquehanna Twp., Dauphin County My Commission Expires June 27, 2004 Member, PennsyNaNe gsaociatbn of Notaries GENERAL PROVISIONS These General Provisions are intended to be and are a part of my Last Will and Testament and are to provide instructions and directions for the settlement of my estate, for the administration of any trusts, for possible tax savings, and for the orderly transfer of my property according to the terms of my Will. A. ADMINISTRATIVE PROVISIONS SECTION I. DISABILITY, INCAPACITY, AND MINORITY OF BENEFICIARIES. If any beneficiary of my estate or any trust created in my Will is a minor or becomes disabled or incapacitated by reason of illness, advanced age, accident, or any other cause, and if the beneficiary is entitled to any income or principal, then my Executors, Guardians, and Trustees may apply income or principal from time to time directly for the beneficiary's support, maintenance, education, and health needs instead of being paid to such beneficiary or that beneficiary's guardian or conservator. Any remaining income or principal for that beneficiary shall be held as a separate trust for that beneficiary, and my Trustees may use income or principal from that separate trust for the beneficiary's support, etc., as set forth above. The remainder shall be invested and paid over to the beneficiary when, in my Trustees' opinion, the beneficiary becomes free of the disability and/or attains the age of majority as defined in this Will. SECTION 11. PROTECTIONS FOR BENEFICIARIES. The rights and interests of each beneficiary in the income or principal of any trust created in my Will shall be free from the control, interference, or claims of any creditor of that beneficiary or any spouse of a married beneficiary and such rights and interests shall not be subject to execution, levy, attachment, anticipation, assignment, pledge, or alienation. SECTION III. TRUSTEE ACCOUNTING. The Trustees of any trusts created herein shall each year render an account of their administration of each trust hereunder to the person or persons (or such person's or persons' guardian or guardians) who may receive the income thereof. Such person's or persons' (or the guardian's or guardians') written approval of such account shall, as to all matters and transactions stated therein or shown thereby, be final and binding upon all persons (whether in being or not) who are then or may thereafter become interested in or entitled to share in either the income or principal of the trust. SECTION IV. WAIVER OF BOND. To the extent that such requirements can be legally waived, I direct that no Guardian, Executor, Trustee, or other fiduciary named in my Will or any successor fiduciary shall ever be required to post any bond or give any security in connection with its duties, whether in the State of Pennsylvania or elsewhere. SECTION V. TRUSTEE DISCRETION TO DISTRIBUTE PRINCIPAL AND INCOME. If any trust created under the provisions of this Will authorizes my Trustees to pay income or principal or both to any one or more persons in a specified class, my Trustees are authorized to pay any -1- part or all of such income or principal to any one member of such class to the exclusion of all of the others, or to some members of the class to the exclusion of others, and in such amounts or shares, equal or unequal, and at such time or times, as they, in their sole discretion, deem advisable. SECTION VI. Should the principal of any trust in my Will become too small, or should its administration be or become impractical for any reason, so as to make continuance of the trust inadvisable, in my Trustee's sole discretion, my Trustee may make immediate distribution of the then-remaining principal and any accumulated or undistributed income outright to the remainder beneficiary or beneficiaries of such trust or trusts determined as if the trust had otherwise terminated at that time. Upon such termination, the rights of all persons who might otherwise have an interest as succeeding income or remainder beneficiary shall cease. If any beneficiary to receive distribution is a minor or disabled in any way, Trustee may pay such share to the parent, guardian, or person or organization taking care of that beneficiary, or may deposit such share in that beneficiary's name in a savings account in any financial institution, including a savings account operated by the Trustee, payable to the beneficiary at the termination of legal incapacity. B. TAX PROVISIONS SECTION VII. It is my intention that the trust principal of the Strock Disclaimer Trust shall be excluded from my spouse's estate upon my spouse's death. Notwithstanding any provision to the contrary in this Will, none of the powers or rights or discretions granted in any provision of my Will to the Trustees and the trust beneficiaries of the Strock Disclaimer Trust shall be permitted to be exercised in a manner that would cause the trust principal of the Strock Disclaimer Trust to be included in my spouse's estate. SECTION VIII. Except as otherwise provided in my Will, I direct my Executors to pay or otherwise satisfy out of the Strock Disclaimer Trust, and if there is no Strock Disclaimer Trust created, then out of my residuary estate, all debts, administration expenses, and all estate, succession, inheritance, transfer, and other death taxes and duties which shall be levied or assessed in respect of my death whether or not imposed in respect of property passing under my Will and imposed by any governmental authority, domestic or foreign. SECTION IX. In accordance with the Tax Reform Act of 1976, the Revenue Act of 1978, the Economic Recovery Tax Act of 1981, and the Tax Reform Act of 1984 and their supplements and amendments, I intend that those sections of my Will which relate to tax planning be interpreted by reference to the following: A. If any tax or other advantages are available to my estate and my heirs as a result of future changes to the federal or state tax laws, I intend that this Will be interpreted in such a way that all tax advantages will be used in my estate and by the fiduciaries who work with my estate and any trusts created in this Will. -2- B. If the marital deduction is available in my estate, then it is my intention to make use of the marital deduction in such a way that the death taxes paid by my estate and later by the estate of my surviving spouse are kept to a minimum. C. If my death should occur after other changes are made in the tax laws and if, as a result of those changes, larger deductions and credits are available, I direct that my Will be interpreted as if I had written a new Will to take advantage of the most current deductions and credits permitted by state and federal tax laws. C. MANAGEMENT PROVISIONS SECTION X. GENERAL EXECUTOR AND TRUSTEE POWERS. In extension and not in limitation of the powers given them by law or other provisions of this Will, my Executors and Trustees shall have the following powers, applicable to all property held by them, in each case to be exercised from time to time in their discretion, without court order and until actual distribution: A. To retain any property or any undivided interest therein, regardless of any lack of diversification, risk, or nonproductivity and without being limited by any statute or rule of law concerning investments by fiduciaries; B. To invest and reinvest in any property or undivided interests therein, without being limited by any statute or rule of law concerning investments by fiduciaries; C. To sell any property, for cash or on credit, at public or private sale; to exchange any property for other property; to grant options to sell or to purchase or acquire any property; and to determine the prices and terms of sales, exchanges, and options; D. To execute leases and subleases, even though such leases may extend beyond the settlement of the estate or the termination of the trust; E. To borrow money and to mortgage or pledge any estate or trust property; F. To take any action with respect to conserving or realizing upon the value of any property and with respect to foreclosures, reorganizations, or other changes affecting the estate or trust property; to collect, pay, contest, compromise, or abandon demands of or against the estate or trust, wherever situated; and to execute contracts, notes, conveyances, and other instruments, including instruments containing covenants and warranties binding upon and creating a charge against the estate or trust; and containing provisions without disclosure of any fiduciary relationship; G. To employ agents, attorneys, auditors, depositaries, and proxies, with or without discretionary powers and to remunerate them and pay their expenses; -3- .. H. To determine the manner of ascertainment of income and principal and the apportionment between income and principal of all receipts and disbursements, and to select an annual accounting period; I. To receive additional property from any source and add it to and commingle it with the estate or the trust; J. To enter into any transaction authorized by this section with Trustees or legal representatives of any other trust or estate in which any beneficiary hereunder has any beneficial interest, even though any such Trustee or legal representative is also Trustee hereunder; K. To make any distribution or division of the estate and trust property in cash or in kind or both and to allot different kinds of disproportionate shares of property or undivided interests in property among the beneficiaries or portions, and to determine the value of any such property; and to continue to exercise any powers and discretion herein given for ~ reasonaEne period after the termination of the trust, but only for so long as no rule of law relating to perpetuity would be violated; L. To conduct any business in which I am engaged or in which I have an interest at the time of my death for such periods as they may deem advisable and with power to borrow money and pledge the assets of the business and do all other acts which I, in my lifetime, could have done or to delegate such powers to any partner, manager, or employee, without liability for any loss occurring herein; M. To organize a corporation or corporations without leave of Court, to carry on any business in which I am engaged or in which I have an interest at the time of my death, by themselves or with others, and to contribute all or part of the assets of such business as capital to such corporations and accept stock in the corporations in exchange therefor; N. To hold property of separate trusts in common investments for convenience of investment or administration; O. To determine whether to claim deductions available to me or to my estate on estate tax or on income tax returns, and to determine whether to use date of death or alternate valuation date values for estate tax purposes, in such manner as they consider advisable and without making any adjustment between income and principal or among beneficiaries due to any such determination; P. To disclaim on my behalf any interest as my Executor or Trustee deems advisable. (end of text) zosa~a ~ - 4