Laserfiche WebLink
<br /> <br /> <br /> <br /> <br /> for the exclusive benefit of Participants, their Beneficiaries, and defraying the administrative expenses of <br /> the Plan and Trust until all Plan liabilities have been satisfied, except in the instance of the failure of the <br /> Trust initially to qualify for tax-exempt status as set forth in Section 9.1 and in the event of a return of <br /> assets mistakenly contributed as set forth in Section 9.3. <br /> <br /> 9.3 Return of Mistaken Contributions. Notwithstanding any other provision of this Agreement, <br /> it is specifically provided that if a contribution or any portion thereof is made by the Agency by virtue of <br /> a mistake of fact, the Trustee shall, upon written request of the Agency, return such amounts as may be <br /> permitted by law to the Agency. <br /> <br /> 9.4 Duration. This Trust shall continue in full force and effect for the maximum period of time <br /> permitted by law and in any event until the expiration of twenty-one years after the death of the last <br /> surviving person who was living at the time of execution hereof who at any time becomes a Participant <br /> in the Plan, unless this Trust is sooner terminated in accordance with the Plan or the terms of this Trust <br /> Agreement. <br /> ARTICLE X <br /> <br /> MISCELLANEOUS <br /> <br /> 10.1 Delegation. By written notice to the Trustee, the Plan Administrator or the Agency may <br /> authorize the Trustee to act on matters in the ordinary course of the business of the Trust or on specific <br /> matters upon the signature of its delegate. <br /> <br /> 10.2 Expenses and Taxes. <br /> (a) The Agency, or at its option, the Trust, shall pay the Trustee its expenses in <br /> administering the Trust and reasonable compensation for its services as Trustee at a rate to be agreed <br /> upon by the parties to this Agreement, based upon Trustee's published fee schedule. However, the <br /> Trustee reserves the right to alter this rate of compensation at any time by providing the Agency with <br /> notice of such change at least thirty days prior to its effective date. Reasonable compensation shall <br /> include compensation for any extraordinary services or computations required, such as determination of <br /> valuation of assets when current market values are not published and interest on funds to cover <br /> overdrafts. The Trustee shall have a lien on the Trust for compensation and for any reasonable expenses <br /> including counsel, appraisal, or accounting fees, and these may be withdrawn from the Trust as and <br /> when viewed and payable, or if Agency has elected to pay expenses of the Trust, may be withdrawn <br /> from the Trust unless paid by the Agency within thirty days after mailing of the written billing by the <br /> Trustee. <br /> (b) Reasonable counsel fees, reasonable costs, expenses, and charges of the Trustee <br /> incurred or made in the performance of its duties, including but not limited to expenses relating to <br /> investment of the Trust such as broker's commissions, stamp taxes, and similar items and all taxes of any <br /> and all kinds that may be levied or assessed under existing or future laws upon or in respect to the Trust <br /> or the income thereof shall be paid from the Trust Assets, unless paid by the Agency. <br /> <br /> 10.3 Third Parties. <br /> (a) No person dealing with the Trustee shall be required to follow the application of <br /> purchase money paid or money loaned to the Trustee or inquire as to whether the Trustee has complied <br /> <br /> <br /> 18 <br /> <br /> 55A-36 <br />