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Home My WebLink About04-1156REVOCABLE TRUST AGREEMENT by and between STANLEY S. KRAUS S~Rlor and Dauphin Deposit Bank and Trust Company, Trustee 7/89 L stanley s. Kraus (Settlor)l~R resident of Brandon, Florida ie,re~by ~an, sfer..to Daupl~. Deposit Bank and Trust Company (hereinafter called .~rust,ee~, a. rennsylvanm, b,ank an~ trust compaq, y, such property as may be e,u,v.ere_a co.ntem, ,po, raneousiy nerew~th, or at such ttme or times hereafter, to be em m lrust as ~ouows: FIRST: Dispositive Provisions For My Benefit ~ During my lifetime: A. All of the net.incom.e shall.be.paid to me at least quarterly or shall be paid or accumulated ana added to prmctpal, as I may direct m writing; ~e' A~ .much of the principal as I may from time to time request in writing shall paid to me, or as I may otherwise direct; C. If, in the Trustee's opinion, I am at any time unable to act or to apply the payments to my own best interest and advantage, the Trustee may apEly directly for my benefit as much of the income and/or principal as the Trustee may, from time,to .'.time,..deem,apl~r. opria.te for my welfare, comfort,, support or · ~,~ ,v F, uL~.qa,~, ~.~ mUCh OS the income as me lrUstee deems advisable. D,. ,T, rust.~, shall keep true and correct books of account, which booi~s of account San~vo.atL_al~ reasonab.l-e..times_be open to the inspection of Settlor or his duly ppomrea representauve, trustee shall also quarterly render Settlor a detailed stat. ement showing all receipts and disbursements on account of the trust estate ancl~.h.e ma,nner, an.d.torrn in which the trust estate is invested at the time of the reno. trion O! SUCll statement. .SECOND.: Disp.ositive Provisions After My Death - Upon my death while the t..,.r~.s, t~.c_o_nt.~m__u _es_, t,h~e l'.ruts, t. ee.shall pa, r the then-remaining principal and income to · ,y u~-~utv~ vr acnlalnkstrator tot amposition as part of my Estate. . RiD,:...Riu'_,~_t to.Revoke .and .A~n. end: ! r, eserv.e the ri.g. ht to revoke or amend this ,_,_,, ~,,Lo~e or.m p.,art,_at any ume .ano from tune to tune by an instrument in pg.; u .et.~.ver,ea..to me lrustee an..d .m.t.e_nded to take effect during my lifetime; xc.epr mat me aunes, powers and lmbflities of the Trustee shall not be changed without its written consent. The Trustee reserves the right, at any time upon thirty (30) days advance written notice to me, to resign the trust and deliver the trust estate to me, after deducting therefrom its fees and any expenses then due and payable. FOURTH: Additions to Trust.- Subject to the approval of the Trustee, either I or any other entity may add property, real and personal, to the principal of this trust. FII-11-1: Tnmtee's Powers: In addition to the powers ~:ranted by law, my T. rustee ,s.,~h~l~h~a~v~th~e_f_Oll°wi.'n~,disc.r.,etio. ,nf~ry pow. ers, applica"ble to principal and ~ncome, ,.,~,.,, ~,,o.~ u~ exercmaom wimour leave oI court and shall continue until distribution is actually made: A. T.o accept and retain any or all property at any time hereafter delivered or in _any other manner hereafter acquired, includin~r stock or · ,~,~, w uz, homing company controlling tl~e Trustee; B. To invest in all forms of vrovertv (including, bu· 2~ ~. ......... · · ..... real e.~n~o ~ ~----- t ~ , ,, , , -~ . v, · ~,r ~), way o[ lmurauon, -. ..... ~, ~),io~ o~ stocks, vongs, options, and participations in common trust .h~, d,s.ancl money .mark. et funds); without being con_7'ined to investments prescnvect Dy statute ana without being required to diversify; C. To buy investments at a premium or discount; D. To hold property unregistered or in the name of a nominee; £. To give proxies, both ministerial and discretionary; F. To compromise claim~; G. To join in any merger, consolidation, reorganization, voting trust plan, or o~.er concerted action of security holders,, and to delegate discretionary duties wire respect thereto; H.. To borrow from Dauphin Deposit Bank and Trust Company or from others, and to pledge real or personal prope.r.ty as security therefor; to loan cash or securities upon such terms anti condztions as trustees deem appropriate. I.. To sell a! public or private sale for cash or credit or partly for each to ~v~ern~e..,atnO~pr.ove or.to lea,se for. any period of time, any real or personal r r -~, uro g~ve options zor sales, exchanges, or leases. J. To allocate any prope_rty received or charge incurred to principal or income or partly to each, without being obliged to apply the usual niles o£trust accounting; K. To distribute in cash or in kind or partly in each; L. To retain any part or all of my business interests held in this Trust as long as the Trustee conszders it advisable to do so; and to conduct, alone or with others, any such business in which I am engaged, with all the powers of an owner or with respect thereto, including the power to delegate discretionary duties to others and to pay adequate compensation to any such person; to ihvest other property in such business, and to incorporate it or change its form. SDOTI: Compensation: The trustee shall be compensated in accordance with its stan.dard sc~.ed .ule of chary .es. in effect from time to time during the period of its ~__r~ces,,a~. ct.this c,om .~ensa.tion shall be paid from principal or income or partly ~r~o~..efi~c~n~n ._m? _,~je omcr.e~on o,f th, e ,Trust, e?., SettIo. r hereby acknowledges ~i~.F, m ,rusree s current ,ee scneotue, wmcn is sul~ject to revision from time to SEVENTH: Non-Assignment: ,N.o part of the income or principal of the prooertv held, under this Trust s~all be sublect to attachment, lew or seizur~ hv ~,~ ' ~ creu. it .or.,. spou,se,_a~ignee or trustee or receiver in banlc~u~cv-- p--ri-~ t-~ a--c~al recezpt m. ere?t. ~l'n.e '£rustee shall pay over the net income a~d'the principal to the es . ed, the t.e e t, appear, without regard to _.~_~Freo anu~zpauon.~exc,ept a.s s~ifically prowded in this agreement), oP;?~eg~nmgp~da~e~,n~t~l~e~ne[ ?;ffurr~ an.~d without regard to any claim thereto ~7 , or omer proce~ against me. ~e foregoing trust is hereby accepted. ecuted on Jul~z 30 .EIG ,.I'~I..: GuFdi~p: ~ at any time hereafter, a proceeding is initiated in any [~u~_~ .m, cu~on to. nav, e a ~uaru~.. appointed for my estate, it is my express intentioi~ ~l~n~o~Durt~g~s.u.~c~___a_d__ete__ ~rr~?_ ~on, ,a~poi~ t Dauphin Deposit Bank and r'--,~, v, ~ ~u~or, aa me buarman oz my e~tate. .~NINTH: Law Governing Trust: This trust is created and accepted in the ~-o,nu?. o.n..weaith of Pennsylvania and shall in all respects be governed by its laws ana sna~ nave its situs at Cumberland County, Permaylvania. NOTE: Before executing this document you may want to consult with your Attorney to assure that yor ,~'ishes are being set forth ..accurately ~'proper lega fo . ,19 91 osit Bank and Trust Company esident and Trust Officer COMI~ONWEALTH OF PENNSYLVANIA COUNTY OF DAUPHIN On this, the .3,0th .. ~ dayof Julr ,19 9 ], before me, a notary public in and for me sma ~ommonwealth and County, l~ersonally appe. ared Stanley S. Kraus ,F,~own to me (or satisfactoril~r proven) to be the person whose name is subscribed to the foregoing .Revocable Trg.?t Agreement a~.~l acknowledged that he/she executed the same f6r me purposes merem contalne~. WITNESS my hand and notarial seal. ~¥ ~omm~sion Ex~ire~: (SEAL) - STATE OF FLORIDA ) ) SS: COUNTY OF ) On this, the/~ ~day '/~~ ,2004, before fne, a Notary Public in and for said State and County, personally appeared Stanley S. Kraus, kfiown to me (or satisfactorily proven) to be the person whose name is subscribed to the foregoing Receipt and Release and acknowledged that he executed the same for the purposes therein contained and desires that the same be recorded as such. WITNESS my hand and Notarial Seal. My Commission Expires: RELEASE WHEREAS, Manufacturers and Traders Trust Company, successor by merger to Allfirst Trust Company of Pennsylvania, N.A., formerly known as Allfirst Bank, formerly known as FMB Bank, Successor by merger to Dauphin Deposit Bank and Trust Company, is the duly appointed Trustee under Agreement with Stanley S. Kraus, of Brandon, Florida; and WHEREAS, the said Trustee has submitted to the said Stanley S. Kraus an account of its Trusteeship, which has been examined and approved by the said Stanley S. Kraus; and WHEREAS, in order to save the expense and delay incident to filing said account in the Orphans' Court Division of the Court of Common Pleas of Cumberland County and having the same confirmed, the said Stanley S. Kraus has requested his Trustee to make settlement with him at once. AND THEREFORE KNOW ALL MEN BY THESE PRESENTS that I, the said Stanley S. Kraus, have this day had and received of and from Manufacturers and Traders Trust Company, successor by merger to Allfirst Trust Company of Pennsylvania, N.A., formerly Allfirst Bank, formerly known as FMB Bank, Successor by merger to Dauphin Deposit Bank and Trust Company, Trustee as aforesaid, the sum of ten thousand four hundred eight dollars and fourteen cents ($10,408.14) in cash, $5,000 Pottsville Pennsylvania School District 9.375% Bond due 5/1/2006, and 1,120 Shares America Movil - ADR Series L in kind and in full settlement and satisfaction of all such sum or sums of money as are due me by reason of said Trusteeship, and THEREFORE I DO BY THESE PRESENTS remise, release, quit-claim and forever discharge the said Manufacturers and Traders Trust Company, successor by merger to Allfirst Trust Company of Pennsylvania, N.A., formerly Allfirst Bank, formerly known as FMB Bank, Successor by merger to Dauphin Deposit Bank and Trust Company, its successors and assigns, and of and from all actions, suits, payments, accounts, reckonings, claims and demands whatsoever for or by reason thereof, or of and from all other acts, matters, and things whatsoever including gross negligence, to the day of the date hereof. IN WITNESS WHEREOF, I have hereunto set my hand and seal this day of · 2004. WITNESS: