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TRUST AGREEMENT..........................
(truncated)
This Irrevocable Trust
Agreement is made this 7 day of
July, 2004,
between Arnold Johnson, erein
referred to as Grantor, and Margaret Johnson,
herein referred to as Trustee.
In consideration of the mutual covenants and promises set forth herein,
Grantor and Trustee agree as follows:
1. Transfer of Trust. Grantor herewith assigns, transfers, and
conveys to
Trustee the property described in Exhibit "A" attached hereto and made a
part hereof by this reference, and receipt of such property is hereby
acknowledged by Trustee. Such property, hereafter designated the
Trust
Estate, shall be held by Trustee in Trust for the uses and purposes and on
the terms and conditions set forth herein.
2. Disposition of Principal and Income. Trustee shall administer and
manage the Trust Estate, collect the income therefrom, and, after payment
of all taxes and assessments thereon and all charges incident to the
management thereof, apply and dispose of the net income and the principal
of the Trust Estate as follows:
3. Additions to Trust.
Grantor and any other person shall have the right
at any time to add property acceptable to Trustee to the this Trust.
Such
property, when received and accepted by Trustee, shall become part of the
Trust Estate.
4. Irrevocability of Trust. This trust shall be irrevocable and
shall not
be revoked or terminated by Grantor or any other person, nor shall it be
amended or altered by Grantor or any other person.
5. Compensation of Trustee: The original Trustee hereunder, and all
Successor Trustees, shall be entitled to reasonable compensation for their
services as Trustee.
6. Governing Laws: The validity, construction,
and effect of this agreement
and the Trust created hereunder and its enforcement shall be determined by
the laws.
In Witness Whereof, Grantor and Trustee have executed this Agreement on
the date above written.
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