1993 will for stephan0001

7/29/2019 1993 Will for Stephan0001

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LAST W LL AND TESTAMENT

OF

STEPHAN McCREA

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Dat ed: o c .) 1993 .

MILDANK,TWEED. HADLEY & HCCLOY1 CHASE MANHATTAN PLAZA

NEWYORK 10005

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I , STEPHAN McCREA, of Br owar d Count y, Fl or i da, do make,publ i sh and decl ar e t hi s t o be my Last W l l and Test ament , her ebyr evoki ng al l w l l s and codi ci l s at any t i me her et of or e made by me.

FI RST: I gi ve and bequeat h al l f ur ni t ur e, f ur ni shi ngs,r ugs, pi ct ur es, books, si l ver , pl at e, l i nen, chi na, gl asswar e,obj ect s of ar t , wear i ng appar el , j ewel r y, aut omobi l es and t hei raccessor i es, and al l ot her t angi bl e per sonal pr oper t y owned by meat t he time of my deat h t o my w f e, J ANUS MARLA KAYMAN, i f shesur vi ves me. I t i s my i nt ent i on t o avai l mysel f of t he pr ovi s i onsof Sect i on 732. 515 of t he Fl or i da St at ut es, and I her eby r equestt hat t her e be gi ven ef f ect any wr i t ten st at ement or l i st I may makedur i ng my l i f et i me, di sposi ng of my t angi bl e per sonal pr oper t y int he event my said w f e does not sur vi ve me.

SECOND: I gi ve and bequeat h t he sum of Thr ee Hundr edThousand Dol l ar s ( $300, 000) , t o my w f e, J ANUS MARLA KAYMAN, i f shesur vi ves me. The bequest made by t hi s Ar t i cl e SECOND shal l bei ncr eased by t he per cent age change between t he Consumer Pr i ce I ndex( Al l Ur ban Consumer s: U. S. Ci t y Aver age, Al l I t ems) f or J anuar y1993 and t he i ndex f or t he mont h i n whi ch my deat h occur s, i f suchi ndex has i ncr eased dur i ng t hat per i od.

THI RD: A. I f my w f e, J anus Mar l a Kayman, sur vi vesme, I gi ve and bequeat h t o t he Tr ust ees her ei naf t er named an amountequal t o t he maxi mum amount by whi ch my f eder al t axabl e est at e( det er m ned bef or e gi vi ng ef f ect t o t hi s Ar t i cl e THI RD and bef or egi vi ng ef f ect t o any di scl ai mer or r enunci at i on whi ch my w f e maymake of any i nt er est s i n pr oper t y passi ng t o her upon my deat hwhet her under t hi s W l l or ot her w se) may be i ncr eased w t houtcausi ng an i ncr ease in t he f eder al est at e t ax payabl e by r eason ofmy deat h af t er t aki ng i nt o account al l credits avai l abl e agai ns tsuch t ax, except t hat t he cr edi t f or st at e deat h t axes shal l be


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t aken i nt o account onl y t o t he ext ent t hat i t does not r esul t i n ani ncr ease i n t he st at e deat h t axes whi ch woul d ot her w se be payabl e.

B. I di r ect t he Tr ust ees t o hol d sai d amount ,I N TRUST, NEVERTHELESS, t o manage, i nvest and r ei nvest t he same, t ocol l ect t he income t her eof , and t o pay over or appl y t he net incomet o or f or t he benef i t of my w f e, J ANUS MARLA KAYMAN, i n as near l yequal quar t er l y i nst al l ment s as pr act i cabl e, but at l east annual l y,dur i ng her l i f e. Upon t he deat h of my w f e t he pr i nci pal of t het r ust , as i t is t hen const i t ut ed, shal l be di sposed of pur suant t oAr t i cl e SI XTH her eof .

C. 1. I n comput i ng t he amount of t hi sbequest , t he val ues and amount s as f i nal l y det erm ned f or f eder alest at e t ax pur poses shal l cont r ol .

2. Thi s bequest may be f unded w t h cashor ot her pr oper t y or a combi nat i on t her eof , and any such ot herpr oper t y so used shal l be val ued as of t he dat e of i t sdi str i but i on.

3. Ther e shal l be al l ocat ed t o t hi sbequest any pr oper t y ( and t he pr oceeds of any pr oper t y) , t o t heext ent not used i n t he payment of debt s, admni st r at i on expensesand t axes, whi ch does not qual i f y f or t he mar i t al deduct i onal l owabl e i n det er m ni ng t he f eder al est at e t ax on my est at e orwhi ch is i ncl udi bl e i n my gr oss est at e f or f eder al est at e t axpur poses and al so subj ect by r eason of my deat h t o any i nher i t ancet ax, t ransf er t ax, est at e t ax or ot her deat h dut y i n any f or ei gncount ry or pol i t i cal subdi vi s i on t her eof , t oget her w t h suchaddi t i onal pr oper ty as may be necessar y t o f und t hi s bequest i nf ul l .

FOURTH: I f at any t i me of my deat h I possess a power ofappoi ntment under par agr aph B of Ar t i cl e SECOND of an I ndent ur e

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dat ed May 27, 1988, wher eby my mot her , Fai t h E. Conger , cr eat ed at rust par t i al l y f or my benef i t , I her eby exer ci se such power anddi r ect t hat t he pr i nci pal of t he t rust est at e subj ect t o such powershal l be t r ansf er red, conveyed and pai d over t o t he Tr ust eesher ei naf t er named, t o be di sposed of as f ol l ows:

A. I f my w f e, J anus Mar l a Rayman, sur vi ves me, t heTr ust ees shal l hol d t he same, I N TRUST, NEVERTHELESS, and shal lmanage, i nvest and r ei nvest t he same, shal l col l ect t he i ncomet her eof , and shal l pay over or appl y t he net i ncome t o or f or t hebenef i t of my w f e, J ANUS MARLA RAYMAN, in as near l y equalquar t er l y i nst al l ment s as pr act i cabl e, but at l east annual l y,dur i ng her l i f e. Upon t he deat h of my w f e t he pr i nci pal of t het rust , as i t i s t hen const i t ut ed, shal l be di sposed of pur suant t oAr t i cl e SI XTH her eof .

B. I f my w f e, J anus Mar l a Rayman, does not sur vi ve me,t he pr i nci pal of sai d t rust est at e shal l be di sposed of pur suant t oAr t i cl e SI XTH her eof .

FI FTH: Al l t he r est , r esi due and r emai nder of mypr oper t y and est at e, bot h r eal and per sonal , of what soever ki nd andwher esoever si t uat ed, of whi ch I shal l di e sei zed or possessed orof whi ch I shal l be ent i t l ed t o di spose at t he t i me of my deat h ( my"r esi duar y est at e") shal l be di sposed of as f ol l ows:

A. 1. I f my w f e, J anus Mar l a Rayman, sur vi ves me, Igi ve, devi se and bequeat h my r esi duar y est at e t o t he Tr ust eesherei naf t er named, I N TRUST, NEVERTHELESS, t o hol d, manage, i nvestand r ei nvest t he same, t o col l ect t he i ncome t her eof , and t o payover or appl y t he net i ncome, i n as near l y equal quar ter l yi nst al l ment s as may be pr act i cabl e, but at l east annual l y, t o orf or t he benef i t of my w f e, J ANUS MARLA RAYMAN, dur i ng her l i f e.

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.._-._---------------Upon t he deat h of my w f e, except t o t he ext ent t hat her

W l l shal l by speci f i c r ef er ence t o t hi s pr ovi si on di r ect t o t hecont rar y, t he Tr ust ees shal l pay f r om t he pr i nci pal of t hi s t rustt he i ncr ease i n al l est at e, i nher i t ance, l egacy, successi on,t r ansf er or ot her deat h t axes ( i ncl udi ng any i nt er est and penal t i est her eon) [ her ei naf t er " t axes" ] i mposed by any domest i c or f or ei gnt axi ng aut hor i t y on t he deat h of my w f e by r eason of t he i ncl usi oni n her gr oss est at e f or t he pur poses of any such t ax of al l or anypar t of t he pr i nci pal of t hi s t rust [ such i ncr ease bei ng t hedi f f er ence bet ween al l such t axes act ual l y pai d by r eason of myw f e' s deat h and t he t axes whi ch woul d have been payabl e i f suchpar t or al l of t he t r ust pr i nci pal had not been i ncl uded i n hergr oss est at e] , pr ovi ded, however , t hat such payment s shal l be madeonl y f rom t he por t i on of t hi s t r ust whi ch, w t hout r egar d t o t hepr ovi s i ons of t hi s par agr aph, shal l be i ncl udi bl e i n t he gr ossest at e of my w f e f or f eder al est at e t ax pur poses. Such payment sshal l be made ei t her t o t he l egal r epr esent at i ve of t he est at e ofmy w f e f or payment by such l egal r epr esent at i ve of such t axes,i nt er est and penal t i es or di r ect l y t o such t axi ng aut hor i t i es ast he Tr ust ees, i n t hei r absol ut e di scr et i on, shal l det er mne. TheTr ust ees may r el y sol el y upon t he wr i t ten cer t i f i cat i on of t hel egal r epr esent at i ve of t he est at e of my w f e as t o t he amount ofsuch i ncr ease payabl e t o each t axi ng aut hor i t y, may pay any suchi ncr ease i n one or mor e i nst al l ment s and shal l have no dut y orrespons i bi l i ty t o make any f ur t her i nqui r y or t ake par t i n t hedet ermnat i on or appor t i onment of such t axes, and upon maki ngpayment of such i ncr ease as t he same shal l be f i nal l y det er m nedt he Tr ust ees shal l have no f ur ther l i abi l i t y in connect i ont her ew t h. Payment of such i ncr ease i n such t axes, i nt er est andpenal t i es shal l f ul l y di schar ge al l l i abi l i t y of t hi s t r ust f orsuch t axes, i nt er est and penal t i es, i t bei ng my i nt ent i on and

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di r ect i on t hat my wife not have any power t o appor t i on addi t i onalt axes, i nt er est or penal t i es agai nst t hi s t rust .

Upon t he deat h of my w f e, t he r emai nder of t he pr i nci palof t hi s t r ust , as it i s t hen const i t ut ed, shal l be di sposed ofpur suant t o Ar t i cl e SI XTH her eof .

2. I f any pr oper t y f orm ng a par t of t he pr i nci pal oft he t r ust i s unpr oduct i ve at t he t i me of i t s r ecei pt by t heTr ust ees or t her eaf t er becomes unpr oduct i ve, t he Tr ust ees mayr et ai n t he same if t hey deem t he r et ent i on of such pr oper ty t o bein t he best i nt er est s of t he t rust est at e, pr ovi ded, however , t hatt he Tr ust ees, upon wr i t t en demand of my w f e, shal l make suchpr oper t y pr oduct i ve or conver t it t o pr oduct i ve pr oper ty w t hi n ar easonabl e time.

3. I t i s my i nt ent i on by t hi s par agr aph A t o cr eat e ani nt er est whi ch i s a "qual i f yi ng i ncome i nt er est f or l i f e" asdef i ned i n Sect i on 2056( b) ( 7) of t he I nt er nal Revenue Code, sot hat , if and t o t he ext ent my Execut or s so el ect , t hi s t rust w l lconst i t ut e "qual i f i ed t er m nabl e i nt er est pr oper ty" as def i ned i nt hat sect i on. Thi s W l l shal l be const r ued and t hi s t r ust shal l beadm ni s t er ed i n al l r espect s so as t o ef f ect uat e t hi s i nt ent i on.To t hat end, any net i ncome on hand or accr ued upon my w f e' s deat hshal l be pai d t o her est at e t o t he ext ent pr ovi ded by appl i cabl el aw and t o any gr eat er ext ent required t o make my w f e' s i nt er est aqual i f yi ng i ncome i nt er est f or l i f e.

B. I f my w f e, J anus Mar l a Kayman, does not sur vi ve me,I gi ve, devi se and bequeat h my r esi duar y est at e t o t he Tr ust eesher ei naf t er named, t o be di sposed of pur suant t o Ar t i cl e SI XTHhereof .

SI XTH: Any pr oper t y of my est at e or of any t r ustdi r ect ed t o be di sposed of pur suant t o t hi s Ar t i cl e shal l be hel d

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by t he Tr ust ees her ei naf t er named, I N TRUST, NEVERTHELESS, f or t hef ol l ow ng uses and purposes: To hol d, manage, i nvest and r ei nvestt he same, t o col l ect t he i ncome t her eof , and t o pay over or appl yt he net i ncom and pr i nci pal t her eof , t o such ext ent , i n suchamount s and pr opor t i ons and at such t i me or t i mes as t he Tr ust ees,i n t hei r absol ut e di scr et i on, deem advi sabl e, t o or f or t he benef i tof such one or mor e of t he chi l dr en of my br ot her and si s t er sl i vi ng f rom t i me t o t i me, or t o such one or mor e of t he descendant sof such chi l dren, as t he Tr ust ees, in t hei r absol ut e di scr et i on,sel ect . Any net i ncome not so pai d over or appl i ed shal l be addedt o t he pr i nci pal of t he t r ust at l east annual l y and shal lt her eaf t er be hel d, adm ni st er ed and di sposed of as a par t t hereof .

Any pr oper t y di sposed of pur suant t o t hi s Ar t i cl e SI XTHhavi ng as i t s sour ce t he pr i nci pal of t he t rust cr eat ed by mymot her , Fai t h E. Conger , on May 27, 1988, shal l be hel d as asepar at e t r ust pur suant t o t he f or egoi ng t er ms and such t rust shal lt ermnat e upon the twenty- f i r s t ( 21) anni ver sar y of t he l ast t o dieof t he descendant s of my mother , Fai t h E. Conger , i n bei ng on May27, 1988. Any other pr oper t y di r ect ed t o be di sposed of pur suantt o t hi s Ar t i cl e SI XTH may be hel d as one or mor e separ at e t rust spur suant t o Ar t i c l e ELEVENTH hereof , and any such t rust shal lt er m nat e upon t he t went y- f i r s t ( 21) anni ver sar y of t he l ast t o dieof t he descendants of my mother , Fai th E. Conger , i n bei ng at t het i me of my deat h. Upon t erm nat i on, each of sai d t r ust s shal l bedi vi ded i nt o a suf f i ci ent number of shar es so t hat one such shar eis set asi de f or each of t he chi l dr en t hen l i vi ng of my br ot her andsi st er s and one such shar e i s set asi de f or t he descendant s t henl i vi ng of each of sai d chi l dr en who has pr evi ousl y di ed, and Igi ve, devi se and bequeat h each such shar e so set asi de f or a l i vi ngchild t o such chi l d, and each such shar e so set asi de f or t he

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.,....."..".....--------------_._-_.descendants of a chi l d who has pr evi ousl y di ed t o such descendant s,i n equal shar es per st i r pes.

SEVENTH: A. I f my w f e, J anus Mar l a Kayman, diessi mul t aneousl y w t h me or i n such ci r cumst ances as t o r ender i ti mpossi bl e t o det ermne who pr edeceased t he ot her , I di rect t hat Ishal l be deemed t o have predeceased my w f e and t hat t he pr ovi si onsof t hi s W l l shal l be const rued upon t hat assumpt i on.

B. I aut hor i ze t he Tr ust ees, at any t i me andf r om t i me t o t i me, t o pay over t o my w f e, J ANUS MARLA KAYMAN, ort o appl y f or her benef i t , out of t he pr i nci pal of any t r ust hel dher eunder f or her benef i t such por t i on t her eof , i ncl udi ng t hewhol e, as t he Tr ust ees, i n t hei r absol ut e di scr et i on, deemadvi sabl e f or t he pur pose of assi st i ng her i n meet i ng except i onalmedi cal expenses and t o mai nt ai n t he st andar d of l i vi ng we haveenj oyed dur i ng our mar r i age, t aki ng i nt o consi der at i on t he otherr esour ces avai l abl e t o her f or t hese pur poses.

EI GHTH: I f any minor becomes ent i t l ed t o any pr oper tyf r om any t r ust cr eat ed her eunder upon t he t erm nat i on t her eof , suchproper ty shal l vest absol ut el y i n such m nor . The Tr ust ees shal lr et ai n such m nor ' s pr oper t y, or any por t i on t her eof , w t hout bond,as a donee of a power i n t r ust f or t he f ol l ow ng uses and pur poses:To manage, i nvest and r ei nvest t he same, t o col l ect t he i ncomet her eof and t o appl y t he net i ncome and pr i nci pal t o such ext ent( i ncl udi ng t he whol e t hereof ) f or such m nor ' s gener al use and atsuch t i me or t i mes as t he Tr ust ees, i n t hei r absol ut e di scr et i on,shal l det ermne, unt i l such m nor r eaches t he age of maj or i t y, andt her eupon t o t r ansf er , convey and pay over t he pr oper t y, as i t i st hen const i t ut ed, t o such m nor . Any net i ncome not so appl i edshal l be accumul at ed and added t o pr i nci pal at l east annual l y andt hereaf ter shal l be hel d, adm ni s ter ed and di s posed of as a par t

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t her eof . Upon t he deat h of such m nor bef or e r eachi ng t he age ofmaj or i t y, t he Tr ust ees shal l t ransf er , convey and pay over t hepr oper t y, as i t i s t hen const i t ut ed, t o such m nor ' s execut or s oradm ni str at or s.

I f t he Tr ust ees in t he exer ci se of t hei r absol ut edi scr et i on, det erm ne at any t i me not t o r et ai n or t o cont i nue t ohol d, as t he case may be, any par t or al l of such pr oper t y, t heyshal l have f ul l power and aut hor i t y t o t ransf er and pay over suchpr oper ty, or any par t t her eof , w t hout bond, t o such m nor ' s par entor t o t he guar di an of hi s or her per son or pr oper t y, or t o acust odi an f or such m nor under any Uni f or m Gi f t s t o M nor s Actpur suant t o whi ch a cust odi an is act i ng or may be appoi nt ed.

The r ecei pt of t he par ent , guar di an, or cust odi an t o whomany pr oper ty i s t ransf er red and pai d over pur suant t o any of t heabove pr ovi s i ons shal l be a f ul l di schar ge t o t he Tr ust ees f r om al ll i abi l i t y w t h r espect t her et o.

The Tr ust ees shal l be ent i t l ed t o compensat i on f or t hei rser vi ces under t hi s Ar t i c l e at t he r at es and i n t he manner al l owedt o t rust ees of t est ament ar y t rust s under t he l aws of t he st at e ofFl or i da i n ef f ect f r om t i me t o t i me.

I n adm ni st er i ng any f und pur suant t o t hi s Ar t i cl e, t heTr ust ees shal l have al l of t he power s conf er r ed upon t hem undert hi s W l l .

The t er m "m nor " as used i n t hi s Ar t i cl e, shal l be deemedt o r ef er t o an i ndi vi dual under t he age at whi ch such i ndi vi dualmay execut e a bi ndi ng cont r act t o di spose of r eal or per sonalpr oper ty under t he l aws of t he st at e of hi s or her dom ci l e.

NI NTH: I appoi nt my w f e, J ANUS MARLA KAYMAN, and mybr ot her - i n- l aw, CHARLES R. LAWSON, Execut or s of t hi s my Last W l land Test ament and Tr ust ees of t he t r ust s her eby cr eat ed.

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I f onl y one of my w f e and my br ot her - i n- l aw qual i f y asExecut or or Tr ust ee her eunder , or shoul d t her e at any t i me and f orany r eason be onl y one Execut or or Tr ust ee i n of f i ce her eunder , Idi r ect t he one qual i f yi ng or t he Tr ust ee i n of f i ce t o appoi nt suchper son or such bank or t rust company as he, she or i t shal l sel ectt o act w t h hi m her or i t her eunder , pr ovi ded, however , t hat i f abank or t r ust company i s act i ng as Execut or or Tr ust ee her eunder ,i t i s aut hor i zed t o appoi nt a per son as Execut or or Tr ust ee t o actw t h i t her eunder , but shal l not be r equi r ed t o do so.

I f any per son who i s a benef i ci ar y of a t rust her eunderi s act i ng as a Tr ust ee of such t r ust , he or she shal l notpar t i c i pat e i n t he exer ci se of any di scr et i onar y power over t hepayment of i ncome or pr i nci pal of such t rust or t he al l ocat i on ofr ecei pt s and expenses bet ween i ncome and pr i nci pal of such t r ustand such power shal l al one be exer ci sed by t he Tr ust ee who is not abenef i ci ar y of sai d t rust .

Any i ndi vi dual Execut or or i ndi vi dual Tr ust ee may r esi gnf r om of f i ce w t hout l eave of cour t at any t i me and f or any r easonby f i l i ng a wr i t t en i nst rument of r esi gnat i on w t h t he cl er k of t heappropr i ate cour t .

Whenever t he t erms " Execut or s" and " Tr ust ees" ar e used i nt hi s W l l , t hey shal l be deemed t o r ef er t o t he Execut or s orExecut or and t he Tr ust ees or Tr ust ee act i ng her eunder f r om t i me t ot i me.

Except as pr ovi ded by l aw, I di r ect t hat my Execut or sshal l not be r equi r ed t o f i l e any i nvent or y of my est at e and t hatno Execut or , Tr ust ee, or donee of a power i n t rust , shal l ber equi r ed t o gi ve any bond. I f , not w t hst andi ng t he f or egoi ngdi r ect i on, any bond i s r equi r ed by any l aw, st at ut e or r ul e ofcour t , no sur et i es shal l be r equi r ed t her eon.

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TENTH: A. My Execut or s may, i n t hei r absol ut edi scr et i on, el ect t o t r eat any par t or al l of any bequest ofproper t y passi ng under t hi s my W l l or any ot her pr oper tyi ncl udi bl e i n my est at e f or f eder al t ax pur poses as "qual i f i edt er m nabl e i nt er est pr oper t y" w t hi n t he meani ng ofsect i on 2056(b) ( 7) of t he I nternal Revenue Code ( "Code") , or anysuccessor thereto, and any comparabl e el ect i on gr ant ed by any ot hert axi ng aut hor i ty .

B. My Execut ors may make such ot her el ect i onsunder t he t ax l aws as t hey, i n t hei r absol ut e di scret i on, deemadvi sabl e, r egar dl ess of t he ef f ect t her eof on any of t he i nt er est sunder t hi s W l l , and I di r ect t hat t her e shal l be no adj ustment ofsuch i nt er est s by r eason of any act i on t aken by my Execut or spur suant her et o.

C. My Execut or s may, i n t hei r absol ut edi scr et i on, di scl ai m or r enounce any i nt er est whi ch I or my est at emay have under any ot her w l l , under any t r ust agr eement orot herw se.

D. The det er m nat i on of my Execut or s w t hr espect t o al l el ect i ons, di scl ai mer s and r enunci at i ons r ef er r ed t oi n t hi s Ar t i cl e shal l be f i nal and concl usi ve upon al l per sons.

ELEVENTH: I author i ze my Executors, i n t he exer ci se oft hei r absol ut e di scr et i on, t o di vi de ( whet her bef or e or af t er anyt rust i s f unded and whet her bef or e or af t er any al l ocat i on of GSTexempt i on under Sect i on 2631 of t he Code ( "Code" ) i s made) anyt r ust or any pr oper t y used or t o be used t o f und or augment anytrust cr eat ed under t hi s W l l i nt o t wo or mor e f r act i onal shar es.The shar es shal l be hel d and adm ni st er ed by t he Tr ust ees asseparat e t r ust s, but may be managed and i nvest ed i n sol i do. Someof t he pur poses f or gr ant i ng t hi s aut hor i t y ar e t o pr ovi de an

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i ncl usi on r at i o ( w t hi n t he meani ng of Sect i on 2642( a) of t he Code)of zer o f or t he separ at e t rust r ecei vi ng t he f ract i onal shar e t owhi ch t he al l ocat i on of GST exempt i on i s made, and, i f t hat t rusti s a t rust descr i bed i n Sect i on 2652( a) (3) of t he Code, t o enabl emy Execut or s t o make t he el ect i on descr i bed i n t hat sect i on w t hr espect t o i t as a separ at e t rust .

I f my Execut or s make t he so- cal l ed Q- TI P el ect i on underSect i on 2056( b) (7) of t he Code over a por t i on ( but l ess t han al l )of any pr oper ty passi ng t o a t rust her eunder , t he Tr ust ees ar eaut hor i zed, i n t he exer ci se of t hei r absol ut e di scr et i on, t o dividesuch pr oper ty as t o whi ch t he el ect i on i s made and t he por t i on ast o whi ch i t i s not made in t he manner prescr i bed by ProposedReg. S20. 2056( b) - 7( b) or any successor r egul at i on. Those shar esshal l be hel d and adm ni s ter ed by t he Tr ust ees as separ at e t rust sw t h i dent i cal t erms, so t hat one of sai d t r ust s i s ent i r el ysubj ect t o sai d el ect i on and t he ot her i s not subj ect t o i t .However , t he Tr ust ees may manage and i nvest such separ at e t r ust s i nsol i do. One of t he pur poses i n aut hor i zi ng such di vi s i on is t oenabl e t he separ at e al l ocat i on of GST exempt i on t o one or bot h ofsai d t r ust s.

Whenever t wo t r ust s cr eat ed under t hi s W l l ar e di r ect edt o be combi ned i nt o a si ngl e t r ust ( f or exampl e, because pr oper t yof one t r ust i s t o be added t o t he ot her t r ust ) , whet her or not t het rust s have di f f er ent i ncl usi on r at i os w t h r espect t o any commont r ansf er or or have di f f er ent t r ansf er or s f or gener at i on- s ki ppi ngt r ansf er t ax pur poses, t he Tr ust ees ar e aut hor i zed, i n t he exer ci seof t hei r absol ut e di scr et i on, i nst ead of combi ni ng sai d t rust s, t oadm ni s t er t hem as t wo separ at e t rust s w t h i dent i cal t er ms i naccor dance w t h t he pr ovi si ons t hat woul d have gover ned t hecombi ned t r u5t s. However , t he Tr ust ees may manage and i nvest suchsepar at e t rust s i n sol i do. I f anyone ( f or exampl e, my w f e) adds

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or i s deemed t o add by gi f t or bequest pr oper t y t o a t rust cr eat edunder t hi s W l l , I aut hor i ze t he Tr ust ees, i n t he exer ci se of t hei rabsol ut e di scr et i on, t o hol d t he added pr oper ty as a separ at e t rustw t h t erms i dent i cal t o t he t rust t o whi ch i t woul d have been addedand t he Tr ust ees may manage and i nvest such separ at e t r ust si n sol i do.

The Tr ust ees ar e aut hor i zed, i n t he exercise of t hei rabsol ut e di s cr et i on, t o combi ne anyone or mor e t rust s w t hi dent i cal t er ms f or an i dent i cal beneficiary or benef i ci ar i escr eat ed under t hi s W l l as a si ngl e t r ust . The Tr ust ees ar e al soaut hori zed, i n t he exer ci se of t hei r absol ut e di scr et i on, l at er t odivide such t r ust as pr ovi ded above i n t hi s Ar t i cl e. W t hout i nany way l i m t i ng t he di scr et i on of t he Tr ust ees gr ant ed by t hi sAr t i cl e, I envi s i on t hat t he Tr ust ees w l l not el ect t o combi ne t woor mor e t rust s w t h di f f er ent i ncl usi on r at i os f or gener at i on-ski ppi ng t r ansf er t ax pur poses.

TWELFTH: I n addi t i on t o, and not by way of l i m tat i onof , t he power s conf er red by l aw upon f i duci ar i es, I her ebyexpr essl y gr ant t o my Execut or s w t h r espect t o my est at e and t heTr ust ees w t h r espect t o each of t he t rust est at es her ei n cr eat ed,t he power s her ei naf t er enumer at ed, al l of such power s so conf er r edor gr ant ed t o be exer ci sed by t hem as t hey may deem advi s abl e i nt hei r absol ut e di scr et i on:

( 1) To pur chase or ot her w se acqui r e, and t o r et ai n,whet her or i gi nal l y a par t of my est at e or subsequent l y acqui r ed,any and al l st ocks, bonds, not es or ot her secur i t i es, or anyvar i et y of r eal or per sonal pr oper ty, including secur i t i es of orot her i nt er est s i n i nvestment compani es and i nvestment t r ust s,whet her or not such i nvest ment s be of t he char act er per m ssi bl e f or

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i nvestment s by f i duci . ar i esi and t o make or r et ai n any suchi nvestment w t hout r egar d t o degr ee of di ver si f i cat i on.

( 2) To sel l , l ease, pl edge, mort gage, t ransf er,exchange, conver t or ot her w se di spose of , or gr ant opt i ons w t hr espect t o, any and al l pr oper ty at any t i me f orm ng a par t of myest at e or any t rust est at e, i n any manner , at any t i me or t i mes,f or any pur pose, f or any pr i ce and upon any t erms, cr edi t s andcondi t i ons; and t o ent er i nt o l eases whi ch ext end beyond t he per i odf i xed by st at ut e f or l eases made by f i duci ar i es and beyond t hedur at i on of any t r ust .

( 3) To bor r ow money f or any pur pose connect ed w t h t heprot ect i on, pr eser vat i on or i mprovement of my est at e or any t rustest at e, and as security t o mor t gage or pl edge upon any t erms andcondi t i ons any r eal or per sonal pr oper ty of whi ch I may di e sei zedor possessed or f orm ng a par t of any t rust est at e.

( 4) To vot e i n per son or by gener al or l i m t ed pr oxyw t h r espect t o any shar es of st ock or ot her secur i t y; di r ect l y ort hr ough a comm t t ee or ot her agent , t o oppose or consent t o t her eor gani zat i on, consol i dat i on, merger , di ssol ut i on or l i qui dat i onof any corporat i on, or t o t he sal e, l ease, pl edge or mor t gage ofany propert y by or t o any such corpor at i on; and t o make anypayment s and t ake any st eps pr oper t o obt ai n t he benef i t s of anysuch t r ansact i on.

( 5) To t he ext ent perm t t ed by l aw, t o r egi s t er anysecur i t y in t he name of a nom nee w t h or w t hout t he addi t i on ofwor ds i ndi cat i ng t hat such secur i t y i s hel d i n a f i duci ar ycapaci t y; and t o hol d any secur i t y i n bear er f orm

( 6) To compl et e, extend, modi f y or r enew any l oans,not es, bonds, mor t gages, cont ract s or any ot her obl i gat i ons whi ch Imay owe or t o whi ch I may be a par t y or whi ch may be l i ens orcharges agai nst any of my pr oper t y, or agai nst my est at e, al t houghI may not be l i abl e t her eon; t o pay, compr om se, compound, adj ust ,

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s ubm t t o ar bi t r at i on, s el l or r el eas e any c l ai ms or demands of myes t at e or any t r us t agai ns t ot her s or of ot her s agai ns t my es t at eor any t r us t upon any t er ms and condi t i ons , i nc l udi ng t heaccept ance of deeds t o r eal pr oper t y i n s at i s f ac t i on of bonds andmor t gages ; and t o make any paymen ts i n c onnec t i on t her ewi t h.

( 7) To make di s t r i but i ons i n k i nd ( i nc l udi ng ins at i s f ac t i on of pecuni ar y bequest s ) and t o caus e any di s t r i but i ont o be compos ed of cas h, p r oper t y or undi vi ded f r ac t i onal s har es i npr oper t y di f f e r ent i n k i nd f r om any ot her di s t r i but i on wi t houtr e ga r d t o t he i nc ome t ax bas i s of t he pr oper t y di s t r i but ed t o anybenef i c i a r y or any t r us t .

( 8) To pl ac e al l or any par t of t he s ecur i t i es whi ch atany t i me ar e hel d by my es t at e or any t r us t es t at e i n t he car e andcus t ody of any bank or t r us t company wi t h no obl i gat i on whi l e s uchs ecur i t i es ar e s o depos i t ed t o i ns pec t or ver i f y t he s ame and wi t hno r es pons i bi l i t y f or any l os s or m s appl i c at i o n by t he bank ort r u s t company; t o have al l s t ocks and r egi s t er ed s ecur i t i es pl acedi n t he name of s uch bank or t r us t company or i n t he name of i t snom nee; t o appoi n t s uch bank or t r us t company agent and at t or neyt o col l ec t , r ec ei v e, r ec ei pt f or and di s bur s e any i nc ome, andgener a l l y t o per f or m t he dut i es and s e r v i ces i nc i dent t o as o- c al l ed " cus t odi an" account ; and t o al l oc at e t he Char ges andexpens es of s uch bank or t r us t company t o i ncome or t o pr i nc i pal orpar t i al l y t o i nc ome and par t i al l y t o pr i n c i pal .

( 9) To appoi nt , empl oy and r emove, at any t i me and f r omt i me t o t i me, any ac count ant s , a t t o r n e y s , i nv es t ment c ouns el or s ,exper t adv i s er s , agent s , c l er ks and empl oyee s ; and t o f i x and payt h ei r c ompens at i on f r o m i ncome or pr i nc i pal or par t i al l y f r omi ncome and par t i al l y f r om pr i nc i pa l .

( 10) Whenever per m t t ed by l aw, t o empl oy a br oker - deal eras cus t odi an f or al l or any par t of t he s ecur i t i es at any t i me hel d

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by my est at e or any t rust est at e and t o r egi st er such secur i t i es i nt he name of such broker - deal er .

( 11) To execut e and del i ver any and al l i nst rument s t ocar r y out any of t he f or egoi ng power s, no par ty t o any suchi nst r ument bei ng r equi r ed t o inquire i nt o i t s val i di t y or t o see t ot he appl i cat i on of any money or ot her pr oper ty pai d or del i ver edpur suant t o t he t er ms of any such i nst rument .

I N WTNESS WHEREOF, I , STEPHAN McCREA, have t o t hi s myLast W l l and Test ament subscr i bed my name and set my seal t hi s/"r. day of OC-!-v L.~ in t he y~ar

and Ni net y- t hr ee.

Subscr i bed and seal ed by t he Test at or int he pr esence of us and of each of us, andat t he same t i me publ i shed, decl ar ed andacknow edged by him t o us t o be his LastW l l and Tes t ament , and thereupon we, att he r equest of t he sai d Test at or , i n hi spr esence and i n t he pr esence of each ot her ,have her eunt o subscr i bed our 9Pmes a~w t nesses t hi s /


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STATE OF FLORI DACOUNTY OF 1 5 i2.[ 0..: It--;~]J SSe

We, STEPHAN McCREA, W/ (('If 11\ S.rs t.' jl.) 6 r e 6-r:!rf,utJlt'e ;::. TA-tf'er , and e~

, 1993.

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1993 will for stephan0001

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