AgdaPkt 2002-12-09 - Laserfiche WebLink

Browse Search

� .I -Co2 � �.�rflperty, ; fqF.. cash or. ._ credit and upon any reasonable terms and � conditions; .. . _ . . _ . , _ . . _ r -,. .. . (d) To make deposits, wi#hh any bank or savings and loan institution, including , any such faci(ity of the Trustee or an affiliate thereof provided that the deposit bears a reasonable rate of interest; (e) To invest and reinvest the Assets, or any part thereof in any one or more collective investment trust funds, including common and group trust funds that consist exclusively of assets of exempt pension and proftt sharing trusts and individual retirement aee�unts qualified and tax exempt under the Code, that are maintained: by�� T��ee o.�;�n affiliate thereof. The declaration of trust or plan of operations for any such common or collective fund is hereby incorpora�ed herein and= adopted into this PARS Trust Agreement by this reference. The combining of money and other assets of the Agency Trust with money and other assets of other qualified trusts in such fund or funds is spec�cally authorized. Notwithstanding anything to the contrary in this trust agreement, the Trustee shall have fuA investment responsibility over assets of the trust invested in such commingled funds. If the plan and trust for any reason lose their tax exempt status, and the Assets have been conimingled with assets of other tax exempt trusts in Trustee's collective investment funds, the Trustee � shall within 30 days of notice of such loss of tax exempt status, liquidate the Agency Trust's units of the collective investment fund(s) and invest the proceeds in a money market fund pending investment or other instructions from the Plan Administrator. The Trustee shall not be liable for any loss or gain or taxes, if any, resulting from said liquidation; (fl To place uninvested cash and cash awaiting distribution in one or more mutual funds and/or commingled investment funds maintained by or made available by the Trustee, and to receive compensation from the sponsor of such fund(s) for services rendered, �eparate and apart from any Trustee's fees hereunder. Trustee or Trustee's affiliate may also be compensated for providing investment advisory services to any mutual fund or commingled investment funds; (g) To borrow money for the purposes of the Agency Trust from any source with or without giving security; to pay interest; to issue promissory notes and to secure the repayment thereof by pledging all or any part of the Assets; (h) To take all of the following actions as directed by the Investment Fiduciary or other person with investment discretion over the trust assets: to vote proxies of any stocks, bonds or other securities; to give general or special proxies or powers of attorney witl or without power of substitution; to exercise any conversion privileges, subscription rights or other options, 13 2567_12 PEL