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HomeMy WebLinkAbout05-04-06 Ob 3qt; -, . , ( '~ ~<,,,,,---"~'-"-_."'--", j-, ~ ,>) .1 FUNDED REVOCABLE TRUST AGREEMENT BY ALVIN A. ADAMS. JOYCE U. ADAMS. HIS WIFE, AND LARRY E. ADAMS, THEIR SON. WITH DAUPHIN DEPOSIT BANK AND TRUST COMPANY FOR THE BENEAT OF LARRY ADAMS I ') .) .; ) I ~ THIS AGREEMENT OF TRUST executed in duplicate this~day of ~ . ~.~ 1992, between ALVIN A. ADAMS, JOYCE U. ADAMS, his wife, LARRY E. ADAMS, their son, of Camp Hill, Cumberland County, Pennsylvania (hereinafter called Settlors) and DAUPHIN DEPOSIT BANK AND TRUST COMPANY (hereinafter called Trustee). WITNESSETH: FIRST: Settlors grant, assign, and set over to Trustee and its successors all the property described in Schedule A annexed hereto and said property, together with all other property, real or personal, that may be added to the trust (such property and additions being hereinafter called principal), shall be held by Trustee, IN TRUST, upon the following terms: SECOND: Trustee shall manage all property comprising the principal of this trust and shall collect the income therefrom and accretions thereto and shall pay the net income and hold and distribute the principal of said trust in the manner and form provided for below and shall have the following duties and responsibilities by way of itemization which is not meant to be nor should it be considered to be a restriction of any kind on those inherent and customary duties and responsibilities of trustees: A. Trustee shall pay monthly bills for Larry Adams for: electricity, telephone, water, sewer and refuse, cable TV, fuel, insurance and other like things as they come due for Larry's residential premises. B. Trustee shall pay other recurring bills for Larry Adams from time to time as they also come due, for example, personal and property taxes and the like; and Trustee shall further hereby be enabled to invade principal as is needed to maintain the residential premises. C. Additionally, any income over and above that required for the above-mentioned periodic payments and the like, as well as so much of the Larry's capacity to take care of himself or possibly lead to a higher paying job or posi tion. D. Additionally, should it be necessary, in the discretion of the Trustee, Trustee may invade principal for any of the above-mentioned purposes and the like. THIRD: Should Larry Adams have predeceased either or both of his parents, then they, or the survivor of them, shall be considered the beneficiaries of this trust for and during their natural lives, and the Trustee shall continue to manage all the property comprising this trust and shall collect the income therefrom and accretions thereto and shall pay the net income to Larry's parents, or the survivor of them, for and during their natural lives in such periodic installments as Trustee shall find convenient, but at least as often as quarter-annually. Upon the death of the survivor of Larry's parents, the balance remaining in the trust shall be distributed as is provided for below. FOURTH: Upon the death of Larry, or the survivor of his parents, whichever comes last, Trustee shall distribute the remaining principal and any accumulated or undistributed income, as follows: A. One-third (1/3) thereof to the Grace United Methodist Church, 313 Herman A venue, Lemoyne, Pennsylvania. This gift to be strictly for the use of its building fund and for general maintenance of the buildings and grounds. B. One-third (1/3) thereof to the Lincoln Chapel, Laurelton, PA 17835-9998, strictly for the use of its building fund and for general maintenance of the buildings and grounds. C. One-third (1/3) thereof to Temple Beth Shalom of West Shore Jewish Community, 913 Allendale Road, Mechanicsburg, Pennsylvania, strictly for the use of its building fund and for general maintenance of the buildings and grounds. FIFTH: The principal and income of this trust shall be free from anticipation, assignment, pledge or obligation of Settlors and shall not be subject to any execution or attachment or to voluntary or involuntary alienation. SIXTH: Trustee shall have the following powers in addition to those vested in it by law and by other provisions of this trust, applicable to all property, whether principal or income, ____~_.:__L1_ _~.':..L~_.4- ~~..__ ~~~_~w.~l ~_...J _CC__4-':___ B. To invest in all forms of property, including stock, common trust funds and mortgage investment funds, without restriction to investments authorized for Pennsylvania fiduciaries, as it deems proper, without regard to any principle of diversification or risk. C. To sell at public or private sale, to exchange, or to lease for any period of time, any real or personal property and to give options for sales, exchanges or leases, for such prices and upon such terms or conditions as it deems proper. D. To allocate receipts and expenses to principal or income or partly to each as Trustee from time to time thinks proper in its sole discretion. E. To hold property in the name of Settlor, or in his name without designation of any fiduciary capacity, or in the name of a nominee or unregistered. SEVENTH: Subject to the approval of Trustee, anyone may add property, real or personal, to the principal of this trust by deed, will or otherwise. EIGHTH: Trustee may receive reasonable compensation at prevailing rates for fiduciaries. Such payments shall be made from time to time during the period over which its services are performed. NINTH: If at anytime hereafter, a proceeding is initiated in any jurisdiction to have a guardian appointed for Larry Adams, it is the express intention of the Settlors herein, that the court making such a determination, appoint Dauphin Deposit Bank and Trust Company, or its successor, as the guardian of the estate of Larry Adams. TENTH: Settlors reserve to themselves the right, by the unanimous consent of those who may then be living, by an instrument in writing intended to take effect during the lifetimes of Settlors or the survivors of them, signed by all the Settlors then living or their guardians or attorneys-in-fact should they be then incapacitated, and delivered to Trustee to revoke or amend this Agreement in whole or in part. Provided that the duties, powers and liabilities of Trustee shall not be substantially changed without his written consent. ''''''''''~.,.,;,:c'."",,"_~WMii>jji r ~'1Slf:i,1" IN WITNESS WHEREOF, Settlors and Trustee have hereunto set their hands the day and year first above written. Witness: ~Q ALVIN A. ADAMS, Settlor (SEAL) GMLJ)rcyl~J C4Jii;tdf. ~.,...(v VL~ . r JOYCE U. ADAMS, Settlor (SEAL) ~~~ LARRY E. ADAMS, Settlor (SEAL) <[JlA},:;tJt&tl/' DAUPHIN DEPOSIT BANK AND TRUST COMPANY ~~ ft ~<~V~ BY Trustee Seniof Vice Tl" It ~'dS! (SEAL) COMMONWEALTH OF PENNSYLVANIA: : SS. COUNTY OF CUMBERLAND On this qS;4 day of ~ ' A.D. 1992, personally appeared before me, a Notary Public in and for said County and tate, ALVIN A. ADAMS and JOYCE U. ADAMS, his wife, Settlors, known to me (or satisfactorily proven) to be the persons whose names are subscribed to the within FUNDED REVOCABLE TRUST AGREEMENT, and acknowledged that they executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. ~) t:4k:$" Notary Public ; ('.,\ CL;~,1~-',s E. 2ft:; L:., ::1, riCt:1 f.1c' ',';, h~"",~ffir;'<:~ T l[-' COMMONWEALTH OF PENNSYLVANIA: : SS. COUNTY OF CUMBERLAND On this J..S'~ day of ~ - , A.D. 1992, personally appeared before me, a Notary Public in and for said County and ate, LARRY E. ADAMS, Settlor, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within FUNDED REVOCABLE LIVING TRUST AGREEMENT, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. (!hww. rc~Lv1!r Notary Public i> 1'1 IN WITNESS WHEREOF, I hereunto set my hand and official seal. (. /) J /7 / /.7 /, /1./ , ,/' / / ,/ /.__ " I .., / .{ 1"., / -~/(//r; C?/:r-u.; 474lz// ~ Notary PublIc Natalial &lal Mal}' Al:Jn Anderson, Notmy Public Harrisburg, Dauphin County My Commission Expires Q"t, 30, 1994 Memool; Pgnl1!iYIv..'li~ Nlll1j(j9 0" of ' fa 8 Fill:ll2l'D Ff,,,OCABLE TRUsT AoREJ',MENI BY AL "B'l A. ADAMS JOyCE U. ADAMS HIS Wlfli AND LARRY E. ADAMS THEW SON WiTH DAuPHlN DEPOSiT BANK ANQ TRUST COMl'ANY FOR THE BENEFiT OF LARRY E. ADAMS ~ Da\jOd:~' 1<J91. rrEMS: 1) A lump sum deposit of oue Huudred ThoU!;and ($I00,OCIJ.OO) DOllars. " . j t ~ <:::"- <~ .....'._..,'"".....-"'"'~_...".._- .... -) FUNDED REVOCABLE TRUST AGREEMENT BY ALVIN A. ADAMS. JOYCE U. ADAMS. HIS WIFE. AND LARRY E. ADAMS. THEIR SON. WITH DAUPHIN DEPOSIT BANK AND TRUST COMPANY FOR THE BENEAT OF LARRY ADAMS ~ -.' Fe...... <<< CJ " (" THIS AGREEMENT OF TRUST executed in duplicate this~day of ~ . ~ 1992, between ALVIN A. ADAMS, JOYCE U. ADAMS, his wife, LARRY E. ADAMS, their son, of Camp Hill, Cumberland County, Pennsylvania (hereinafter called Settlors) and DAUPHIN DEPOSIT BANK AND TRUST COMPANY (hereinafter called Trustee). WITNESSETH: FIRST: Settlors grant, assign, and set over to Trustee and its successors all the property described in Schedule A annexed hereto and said property, together with all other property, real or personal, that may be added to the trust (such property and additions being hereinafter called principal), shall be held by Trustee, IN TRUST, upon the following terms: SECOND: Trustee shall manage all property comprising the principal of this trust and shall collect the income therefrom and accretions thereto and shall pay the net income and hold and distribute the principal of said trust in the manner and form provided for below and shall have the follo\ving duties and responsibilities by way of itemization which is not meant to be nor should it be considered to be a restriction of any kind on those inherent and customary duties and responsibilities of trustees: A. Trustee shall pay monthly bills for Larry Adams for: electricity, telephone, water, sewer and refuse, cable TV, fuel, insurance and other like things as they come due for Larry's residential premises. B. Trustee shall pay other recurring bills for Larry Adams from time to time as they also come due, for example, personal and property taxes and the like; and Trustee shall further hereby be enabled to invade principal as is needed to maintain the residential premises. C. Additionally, any income over and above that required for the above-mentioned periodic payments and the like, as well as so much of the nrin~ln~l ~C' lC' npprlprl !l~{Y"\rrllno tA thp rll~f'rptlr\n n.f th~ 'T'rnC"li-,.,...... -...'" 1-~ ..~_...J Larry's capacity to take care of himself or possibly lead to a higher paying job or position. D. Additionally, should it be necessary, in the discretion of the Trustee, Trustee may invade principal for any of the above-mentioned purposes and the like. THIRD: Should Larry Adams have predeceased either or both of his parents, then they, or the survivor of them, shall be considered the beneficiaries of this trust for and during their natural lives, and the Trustee shall continue to manage all the property comprising this trust and shall collect the income therefrom and accretions thereto and shall pay the net income to Larry's parents, or the survivor of them, for and during their natural lives in such periodic installments as Trustee shall find convenient, but at least as often as quarter-annually. Upon the death of the survivor of Larry's parents, the balance remaining in the trust shall be distributed as is provided for below. FOURTH: Upon the death of Larry, or the survivor of his parents, whichever comes last, Trustee shall distribute the remaining principal and any accumulated or undistributed income, as follows: A. One-third (1/3) thereof to the Grace United Methodist Church, 313 Herman A venue, LemoYlle, Pennsylvania. This gift to be strictly for the use of its building fund and for general maintenance of the buildings and grounds. B. One-third (1/3) thereof to the Lincoln Chapel, Laurelton, PA 17835-9998, strictly for the use of its building fund and for general maintenance of the buildings and grounds. C. One-third (1/3) thereof to Temple Beth Shalom of West Shore Jewish Community, 913 Allendale Road, Mechanicsburg, Pennsylvania, strictly for the use of its building fund and for general maintenance of the buildings and grounds. FIFTH: The principal and income of this trust shall be free from anticipation, assignment, pledge or obligation of Settlors and shall not be subject to any execution or attachment or to voluntary or invol untary alienation. SIXTH: Trustee shall have the following powers in addition to those vested in it by law and by other provisions of this trust, applicable to all property, whether principal or income, exercisable without eOllrt Hnnr{)V~J ~nrt pffpl"'tl\TP nntil o:ll"tll~l rI~C"t~h.nt~,....~ ,....1-' ",11 ...._~....~__.. ,.,.-, ""V-"'J";"'!~'""c.,~...;.",.,~;.....-,,:..j",,,""'~;'~""~""I~',,....,.,;,,.',,'..I;oio...~~.,,""'.'~"'""i~,.;.,',....:),,;.....""''1!,;;.,'.....'~_....'....,';:;,"~i'1,;^,"......;.o:.,,,..;~~,,~,.,.w,;;;';'.'''7''(;'~~~ ]....,' . I ,.,', i' ~. B. To invest in all forms of property, including stock, common trust funds and mortgage investment funds, without restriction to investments authorized for Pennsylvania fiduciaries, as it deems proper, without regard to any principle of diversification or risk. c. To sell at public or private sale, to exchange, or to lease for any period of time, any real or personal property and to give options for sales, exchanges or leases, for such prices and upon such terms or conditions as it deems proper. D. To allocate receipts and expenses to principal or income or partly to each as Trustee from time to time thinks proper in its sole discretion. E. To hold property in the name of Settlor, or in his name without designation of any fiduciary capacity, or in the name of a nominee or unregistered. ,- SEVENTH: Subject to the approval of Trustee, anyone may add property, real or personal, to the principal of this trust by deed, will or otherwise. EIGHTH: Trustee may receive reasonable compensation at prevailing rates for fiduciaries. Such paynlents shall be made from time to time during the period over which its services are performed. NINTH: If at anytime hereafter, a proceeding is initiated in any jurisdiction to have a guardian appointed for Larry Adams, it is the express intention of the Settlors herein, that the court making such a determination, appoint Dauphin Deposit Bank and Trust Company, or its successor, as the guardian of the estate of Larry Adams. TENTH: Settlors reserve to themselves the right, by the unanimous consent of those who may then be living, by an instrument in writing intended to take effect during the lifetimes of Settlors or the survivors of them, signed by all the Settlors then living or their guardians or attorneys-in-fact should they be then incapacitated, and delivered to Trustee to revoke or amend this Agreement in whole or in part. Provided that the duties, powers and liabilities of Trustee shall not be substantially changed without his written consent. ELEVENTH: The situs of this trust for administrative and accountin~ purposes shall be in ,..,.;;"",...",... t I .110 1111. IN WITNESS WHEREOF, Settlors and Trustee have hereunto set their hands the day and year first above written. Witness: ~Q ALVIN A. ADAMS, Settlor (SEAL) &l1AIw f~ C4Jfi;4lf 5 ~*tM~. v..~ r JOYCE U. ADAMS, Settlor (SEAL) ~~~ LARRY E. ADAMS, Settlor (SEAL) ~'t't2u~d4~ DAUPHIN DEPOSIT BANK AND TRUST COMPANY ~~ ft ;;:1#~~ (SEAL) BY Trustee Senior Vice Pr€5:1denf antI Trust OU;rer COMMONWEALTH OF PENNSYLVANIA: : SSe COUNTY OF CUMBERLAND On this e5iJsf4 day of ~ ' A.D. 1992, personally appeared before me, a Notary Public in and for said County and tate, ALVIN A. ADAMS and JOYCE U. ADAMS, his wife, Settlors, known to me (or satisfactorily proven) to be the persons whose names are subscribed to the within FUNDED REVOCABLE TRUST AGREEMENT, and acknowledged that they executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. ~ ;:~~~ Notary Public Noi~:riz~l Se:~----I Chmlcc's E. ShiGiJ::; 1\\, Ncta.y I I ___"...1 tv1 Ofn t)t)(. ",,,,,,,,',,W;li\o1ili'-,~"l ~~~ 'Itf'M...J .. COMMONWEALTH OF PENNSYLVANIA: : SS. .!~~; COUNTY OF CUMBERLAND On this d).slt, day of ~ - , A.D. 1992, personally appeared before me, a Notary Public in and for said County and te, LARRY E. ADAMS, Settlor, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within FUNDED REVOCABLE LIVING TRUST AGREEMENT, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. rJ.MJ-cV r~tW1!r Notary Public Q--'---'-~'-;;:';~~'~'-;.~~=7"--~-~--~---' . d_":., bl ~',.cjl 1 f!f~t'" F !lUiGi", ,J _"__"'" I ~,.18 ITl bCI' ""..J peared before me, a ..'d7 , who ./ IN WITNESS WHEREOF, I hereunto set my hand and official seal. &JJ~d:~d~#J / Notary Public Notarial Seal Mcuy Ar:tn Anderson, ~ Public Ha~rg, Dauphin COunty My CommIsSIOn Expires Oct. 30, 1994 Me!11be1~ Penneylv;;,ni.. A........:.Ja .""~. ono fa Dated: ~<--- FUNDED REVOCABLE TRUST AGREEMENT BY ALVIN A. ADAMS. JOYCE U. ADAMS. HIS WIFE. AND LARRY E. ADAMS. THEIR SON. WITH DAUPHIN DEPOSIT BANK AND TRUST COMPANY FOR THE BENEFIT OF LARRY E. ADAMS SCHEDULE A ~ ~ ~S-. / , 1992 ITEMS: 1) A lump s)Jm deposit of One Hundred Thousand ($100,000.00) Dollars.