Trust created by husband and wife for benefit of wife for her life, with contingent remainder.

This deed is made and entered into this _________, 19__, by and between _________ and _________, his wife, of the city of _________, state of _________, parties of the first part and _________, of the county of _________ and state of _________, party of the second part, and _________, party of the third part.

Recitals:

That parties of the first part, for and in consideration of $_____ paid to them by party of the third part, the receipt of which is acknowledged, and the further sum of $10 dollars paid to them by party of the second part, the receipt of which is also acknowledged, grant, and convey to party of the second part, his heirs and assigns and his successors in trust, forever, the following-described real estate situated in the city of _________: _________.

To have and to hold the same, together with all and singular, the privileges and appurtenances belonging or in any wise appertaining to it, to party of the second part, his heirs and assigns, and to his successors in trust and their assigns forever. In trust, however, as follows:

1. For the sole and separate use, benefit, and enjoyment, of _________[wife], for and during the term of her natural life, entirely free from all control, restraint or interference on the part of her husband, _________; _________ during her natural life, to have, hold, use, occupy and enjoy, the exclusive use and undisturbed possession of the real estate and the appurtenances belonging to it with full power, jointly with her husband, to direct _________, trustee, and the successors in trust, to sell and convey, mortgage, incumber by deed of trust or lease or make any other disposal of the real estate, or any part or portion of it, at their will and pleasure, _________ to receive to her own separate use and benefit the proceeds of such sale and incumbrance and all rents and profits arising and accruing from the lease or other disposal of the property; said trustee and his successors in trust to hold the real estate during the lifetime of _________ and her husband _________, subject at all times to the joint direction of _________ and her husband, as to the disposal of the real estate or any part or portion of it, whether by lease, conveyance in fee, mortgage, deed of trust, transfer or assignment of this trust or otherwise, the direction in writing to be evidenced by their joining with grantee or his successors in trust, in the execution of lease, conveyance in fee, mortgage, deed of trust, or other instrument, and by his acknowledgment of the same, in due form of law.

2. Should _________ survive _________[wife], and the real estate not then been disposed of as above provided, then trustee and the successors in trust shall hold the real estate to the use and benefit of _________[husband] during the term of his natural life, with full power and authority vested in _________[husband], to receive and appropriate to his use the rents and issues and profits of the real estate; also at his will and pleasure to direct by sale, incumbrance or mortgage or deed of trust, lease, or any other disposition of the real estate as to him may seem meet and proper. Also to appropriate to his own use the proceeds of such sale, incumbrance, or other disposition of the property without being accountable for the rents, issues, profits or the proceeds of such sale, or other disposition of the real estate to any person.

3. From and after the death of _________[wife] and _________[husband], the trustee and his successors in trust shall hold the real estate above described to the use and benefit, share and share alike, of the children born or to be born of the marriage of _________ and _________, the children now living being named as follows, namely: _________, _________, and _________; and the trustee or his successors in trust shall control and receive all the rents, issues and profits arising or accruing from the real estate out of which he or they pay the taxes levied upon the real estate. So whatever sum may be necessary or requisite for keeping the buildings upon the real estate in good repair, and in tenantable condition, also the costs and expenses of controlling the rents and income arising or accruing from the property, together with a reasonable compensation for his or her services as trustee, and the balance or residue of the rents or income from the real estate, after deducting the taxes, cost of repairs, expenses of collecting and compensation of trustee, shall be divided equally between the children, and shall be regularly paid to such of them as shall have attained their majority at the end of each six months in each year, or if the trustee or successors shall deem it more advantageous and for the best interests of such children to do so, he or they may make such payments at the end of every three months in each year.

During the minority of any of the children the trustee or the successors in trust shall disburse the share of the rents and profits to which each minor child may be entitled, in such manner, for the support, maintenance and education of such minor, as he or they, in the exercise of their best judgment and discretion, may think proper and most conducive to the welfare and happiness of such minor.

At the expiration of 10 years and after the date when the youngest of the children shall have attained lawful age, trustee, or the successors in trust, shall make a final settlement with each of children, paying over to each of them then living, and to the heirs-at-law of such of them as may have departed this life, their respective equal shares of the rents and profits, and this trust shall cease and determine, and the title to the real estate and every part and portion of it, not disposed of as provided below, shall without any act to be done or performed by trustee or his successor in trust, pass to and become fully vested in fee simple in children then living and in the heirs-at-law of such of children as may then be dead, to be held by them as tenants in common, according to their respective equal shares and their inheritance from such of children as may then be dead.

And _________[wife] and _________[husband], or the survivor of them, at any time, whenever from any cause they shall deem it necessary or expedient, shall have full power by an instrument in writing under their hand and seal, made by them, acknowledged in due form of law, to nominate and appoint a trustee or trustees in the place and stead of the trustee above named, which trustee or trustees, or the survivor of them, or the heirs of such survivor, shall hold the real estate on the same trusts and with the same powers and duties above recited; and upon the nomination and appointment of such trustee or trustees, the estate in trust vested in trustee shall be fully transferred and vested in the trustee or trustees so appointed by _________ and _________, or by the survivor of them.

And the party of the first part covenants to warrant and defend the title to the real estate and every part and parcel of it against the claim of all persons.

And the party of the second part accepts and covenants faithfully to perform and fulfill the trust created.

In testimony, etc.



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