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�-i - <br /> ,� � � <br /> 3.15 Trust Administrator's Compensation `� � � . � . - - , ,: , _: <br /> As may be agreed upon from time to time by the Member Agency and Trust , <br /> Administrator, the Trust A�ministrator will be paid reasonable compensation for <br /> services rendered or reimbursed for expenses properly and actually incurred in <br /> the performance of duties withh respect to the Agency Trust and to the PARS <br /> Trust Program in accordance with Section 53217 of the A�t. <br /> 3.16 Resignation or Removal of Trust Administrator <br /> The Trust Administrator may resign at any time by giving at least one hundred <br /> twenty (120) days written notice to each Member Agency of the PARS Trust <br /> Program and the Trustee. The Member Agencies, by a two-thirds or greater <br /> vote, may remove the Trust Administrator by delivering, at least one hundred <br /> twenty (120) days prior to the effective date of such removal, written notice to the <br /> Trust Administrator and to the Trustee. <br /> Article IV � <br /> THE TRUSTEE <br /> 4.1 Powers and Duties of the Trustee <br /> Except as otherwise provided in Article V and subject to Article VI, the Trustee <br /> shall have full power and authority with respect to property held in the Agency <br /> Trust to do all such acts, take all proceedings, and exercise all such rights and <br /> privileges, whether specifically referred to or not in this document, as could be <br /> done, taken or exercised by the absolute owner, including, without limitation, the <br /> following: <br /> (a) To invest and reinvest the Assets or any part hereof in any one or more <br /> � kind, type, class, item or parcel of property, real, personaJ or mixed, <br /> tangible or intangible; or in any one or more kind, type, class, item or issue <br /> of investment or security; or in any one or more kind, type, class or item of <br /> obligation, secured or unsecured; or in any combination of them. To retain <br /> the property for the period of time that the Trustee deems appropriate; <br /> (b) To aco�ire and sell options to buy securities ("call" options) and to acquire <br /> and seli options to sell securities ("put" options); <br /> (c) To buy, sell, assign, transfer, acquire, loan, lease (for any purpose, <br /> including mineral leases), exchange and in any other manner to acquire, <br /> manage, deal with and dispose of all or any part of the Agency Trust <br /> 12 <br /> 2567_12 PEL <br />