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HomeMy WebLinkAboutL 12511 P 671/a~ // P ~7/ /0~ ~ -a/ NY Oa] • Bfrµaio and Sfk Deed ffi5 Cwmaw fauimt (inmoff Mf 4ulivibul fr Cbpumiw ISi~e Shcdtl:IYIITU raa?I C(/.\tiUl T 5'UIIR L5w5'ER BEFORE BIGSL\(:171Ci 1~51AU?IG\7 • fllLti 1\1TRUNE.~ rtiUUUID BF.IItiEU 85' IAw'S'ERti (1x1.5' TIIIS INDENTURE, made this ~ day of~ , in the year 2007 BETWEEN JANE BLAUOS, residing at 28850 Main Road. I'O Box 145, Cutchoglu, NY 11935, as survivlag tcoant by the entirety party of the first pan, and THE JANE K. BLADOS FAMILY TRUST. dated Moy 22.2007. having an address at 28850 Main Road, F.O. Box 145. Cutchoguc, New York 11935, Patricia 1. Stewart and David A. Blados, Trostees party of the sLCOnd pun, W ITNES,SETH, that the party of the first pan, in considcrnion ofTrn Dollars and other valuable consideration paid by the pony otthr second pan, does hereby grant and release unto the sceond pan, the heirs or successors and assigns ofthe party of the second pan forever. ALL that certain plot, pica or parcel of land, with the buildings and improvemrnts thereon erected, situate, lying and being al Cutchoguc, in the Town of Southold, County of Suffolk and State of New York, boundfd end described as follows: BtG INN ING at a point marked by a monument on dtc southerly side of Main Road (New York State Route 25), which point is the northerly or northwesterly rnmcr of land now or formerly of J. Wickham Estate. and the westerly corner of the premises herein described, (and which point is the southwesterly a distance of approximately 1195 feet from the intersc(:tion of the southerly line of Main Roud with the westerly line of Fleet's Ncck Road): running thence along the southerly line of Main Raad, North 32 degrees 30 minutes Fast, a distance of 75.00 faa to a point marked by e monument and tend now or formerly ofJ.H. Wulf; running thrncc along said land of Wolf, South 47 degrees 16 m inures 40 seconds Fast a distance of 200.00 feet ro a point marked by a monwnrnt and land now or formerly of C.C. Fleet and others: running thrncv: along said land of Fleet South 32 degrees 30 minutes West , a distance of 75.00 feet to a paint marked by a monument and lend now or formerly ofJ. Wickham Estate; running thence along said land of W ickham, North 47 degrees 16 minutes 40 seconds 1Vest a distance of 200.00 fret to the point or place of beginning. BITING AND INTENDED TO BE the same premises conveyed to the party of the first pan by deed dated September 20. I %5 and recorded in the Suffolk County Ckrk's Office nn September 21.1 %5 in Liber 5835 at Page 176. TOGETHER with all rgh4 title and interest if any, of the party of the first par of, in and to any streets and roads abutting thcabove-described premises to the center lilu:s thereoF, TOGETHER with the appurtenances and all the estate and rights of the party of the first pan in and [o said premises: TO HAVE. AN D HOLD dte premises herein granted unto the party of the second part, the heirs or successors and assigns of the party of the second part forever. AND the parry ohhe first pan covenants that the parry ofthe first pan has not done or suffered artytlting whereby the said premises have bfxn incumbered in any way whatever, except ss aforesaid. AND the party of the first port, in rnmpliance with ticction 13 of the Lien law, eovenanu that the parry of the first pan will receive the consideration for this wnveyance and will hold the right to receive such consideraton as a true fund to be appliad tiro for thn purpose of paying the cost of the improvement and will apply the same Prat to tlu pavmrnt of the cost of the improvement before using any part of the total of the same for any ocher purpose. The word "pony' shall be mnstnud as if it read "parries' whenever the sense of this indenture so requires. IN WITNESS WHEREOF, the pan of the first pan has duly executed this deed the day and year firs[ above wrinen. Ix rR-sExcE oF: JANF~ 1{DOS ILS£ACE.VUWLEOG,MEA7FORMRELUa'N%TlII,VNEW 1'ORESTATEAVLY: Sate of New York, County of SUFFOLK I ss.: Un thr ~ ay of MAY in the>rar 2007, before mc, lhr undcrsignatid. pmonally appeared JANE BIADOS. perswallY kntmv to me or provcJ to me an the bans of rmisfuctory crulrnu< to be the individual whose n:une is subscribed to the within instrument and acknowledged to me drat she executed the same in hrr capacity, and that by her signature w the IIIxINmenL IhC individual, O[ the person upon behalf of whidt the individual acted, rxnvtcd the insuumcnL TEBRY CIPRUWI ~ ~~A~~ NdTAtIV PNUOB~ St~~aI~M~Naw York N~"rr~1e ~' OualiliW In SuOOIk Comdyy Commission Expires Feb. tT, YOL ACKNON%EDGMEM FORM rOR USE R%THlNNEW YORE STAlEON/•Y: (Mr 1'rf \Lff[I,IYq[ Irwwu A •GwktpKwrr mrkve/ Sate of New York. Cnuaty of y ss.: qn the _ day of in the )•rar 2007 hrforc rrx. thr undersigned. prrsonally appeared . Utesubratbingw;+.+... to the fongaing instrument, with wfiom 1 um personally acqu:timed, who being by me duly swum. did depose and say that he/shehhev rcsidgx) in (jrhe plan ofresidexr it in a cin•, include the surer andrrrert number, i~anv. theregQ: that hdshenhey know(s) to be the individwl descn7wd in wd who executed the furcgoing instrumrnL Ihm said subscribing witness xa\ prasent and saw said execute the same: end that said witness ut the some time subsrrihcd hixgtedtluir nameU) at a witrtesx thereto. Hoary Public USEACENUR'LLDGMENT r771tM RCLOR' a%TMI.YNEa' YORRRTATF.O.VLY: State of New fork, Cauoty of ~ u.: Un the _ day of in thr year 2007, before mr. the wdcrsign~L personally aplwarcd .personally known u+ me or prayed tome on the Irtsis of aatisfantuy evidenoc W be the individual(s) whusr namc(sl is (arc- subsrrihcd to the within instmment and acktwwlydged to me that hr/she/they cxhcutd the samr in hislltrr/their capacigties). and that by hishteNtheir signaturts) on thr inswmcnL the individual(s). or the person upw behalf of which the individual(s) acted, executed the irWmmcnt. Votary Public ACKNON'LEUGMENT t%IRM Fl1R I/SE t1Tr!lINNEW YMPKSTATEUNLY.• pAx y'.hsr wMw•I+p,+:mrN AMu.ln6pwwriw/kwr( (('omp/err I inue wir6 Srurr, Coanry•. Pro+•imr or .41unleipalirvr Un thr _ dyv of _ in the year 2007, before mr. the understgnrd. persomtlly oppcarcd • pcrsorulty known u+ mr or proved W tnr on the basis of saisfactor)• evidertcc u+ br the individttallsl whose numMSl is (arc) al+st%ibcd to the xithin instrument grid ucknowtdgcd to me that the hdshdthn• cxceuud thr same in hix0tcrhheir capaLity(iexl, that by hislhcr/theirsignaumyx) on thr instnrmcnt, thr individua(x), or the person upon behalf of xhich drc individwlts) acted. excrnled the inswmcn~ and lhtu such individual made such appcamnce before the undrrsigrted in the (lnarrt rhr c/rv or other palirical rubdiv&fon and rhr arena or Bounty rw esker plac•r rhr aeknrmhrctgmrnr war rabgl. Notary Public BARGAIN & SALF. DEED w•ml covEwtrrs ncnlNSrcRnwruRS Hers TITLENO. DI5TRICI' SF:CTIUN BLCICK I.OT COUNTY OR'['ONT Southold JANE BLAUOS, as wrviviag tensest by the entirety TO THF. JANE K BLADO5 FAMILY TRUST, dated May 22, 2007 RECORDf.D AT RF."QUP.IT OF AAU R£fURV RY d!•1/L TU: Terry Ciprlaoi, PLLC 595 Route 25A Suik a Miller Place, New York 11761 RFSERVC• HIES SYACF: FOR USIi OF RF:CUItdYICi UIFICt: 112 i ~ Number of pages ~ ~ ~ ~~~ 2007 Jul 02 09;13:28 pM TORRENS Judith p. Pascale CLERK OF 5crial # SUFFOLK COUNTY L 600012511 Ccrtificate# P 67t DTM 06-38129 Prior Ctf. # Decd .Mortgage Inswmcnt Decd / Mongsge Tax Stamp Recording /Filing Stamps 3 FEPS Page /Filing Fee 4 ' Handling 5. ~_ TP-5&1 J Notation i EA-5217 (County) EA-5217 (State) ~ _ RP T S A ~ C~ . . . . _ , Comm. of Ed 5. ~. Affidavit Certified COPY Keg. COPY Other ~5 r Sub Totul 2y Sub Total ~ Z11J''//''~~f Grand Total ~ `i`-1 ~ Jlti 4 ~Distria Section ~ Block ~ Lot Real 07018378 >.ooo >.osoo osoo o2xooo Progeny ; p T S lbx Savicc RSMI A Agency 15JUN-0 Verification J SatiafaaiortrDiacltargealRcleasc Lint Property Owners Mailing Address RECORD & RE"fURN TO: TERRY CIPRIAN[, PLLC 595 Route 25A ' Suite 4 Miller Pace. New York 11764 ~ Mortgage Amt. _ 1. Basic Tax _ Z. Additional Tax _ Sub Total Spec. / Assit or Spec. /Add. _ 1'01: MTCa TAX Dual Town _ Dual County Held for Appointment Transfer Tax ~ - _ Mansion Tax The property wveral by this motgagc i or will be improved by a one or twi family dwelling only. YES or NO If NO, see appropriate tax clauae on page # of thia instrument. 5 ~ Community Preservation Fund :o ~'dcrationAmount S "PF r. Duc l sue= improved _~ VacanlLund• TD TD TD Tiue Information ~ ~ Suffolk Title # ig & Endorsement This page forms pan of the attached ~.~ mode by: A ~ (SPECIFY TYPE OF INSTRUMENT) Jfl NE BL-A lei The pwmisis herein is situates in SUFFOLK COUNTY, NcfiIW`..YORK. TO !n the Township of .~Jt~TlaOl-~ ~pty>; ~ . ~ tit Dos ~~1M: ~yTRusr In the VILLAGE . or HAMLET of CUTC.NO GUE BOXES 6 THROUGH li MUST BE TYPBp O_R_Pi2iNTED iN BLACK INK ONLY PRIOR TO RECORDING OR FILINCa rrwrrl SUFFOLK COUNTY CLERK ~ RECORDS OFFICE RECORDING PAGE Type of Instrument: DEEDS/DDD Recorded: 07/02/2007 Number of Pagea: 3 At: 09:13:28 AM Receipt Number 07-0061266 TRANSFER TAX NUMBER: 06-38129 LIBER: D00012511 PAGE: 671 District: Section: Block: Lot: 1000 102.00 06.00 021.000 EXAMINED AND CHARGED A3 FOLLOWS Deed Amount: $0.00 Received the Following Fees For Above Instrument Exempt Exempt Page/Filing $9.00 NO Handling $5.00 NO COE $5.00 NO NYS SRCHO $15.00 NO EA-CTY $5.00 NO 8A-STATE $75.00 NO TP-584 $5.00 NO Cert.Copies $0.00 NO RPT $30.00 NO SCTM $0.00 NO Transfer tax $0.00 NO Comm.Pres $0.00 NO Fees Paid $149.00 TRANSFER TAX NUMBER: 06-38129 THIS PAGE IS A PART OF THB.INSTRUMENT THIS IS NOT A BILL Judith A. Pascale County Clerk, Suffolk County PLEASE TYPE OR PRESS FIRMLY WHEN WRITING ON FORM INSTRUCTIONS: http:// www.orps.state.ny.us or PHONE (518) 473-7222 FOR COUNTY USE ONLY C,. ~~ Cod. y 3~~, C2. Dote Drd Recorded O rr / C3. Book ~ a i I G, Pepe I , l REAL PROPERTY TRANSFER REPORT STATE OF NEW YORK STATE BOARD OF REAL PROPERTY YERVICES RP - 5217 t. Propel Lereb L Buys Natrr^ i Tr Ndiran when here Tr Bile m to W sad BIIYaY K Olha Mar blrya ^ddraee W bapan d fermi l I MAN /CDMyMr I fail Addrw ~ I I I I srayn souse M+D nmer r4p i r OW^ Bur[ eMeOae l Indk^a eM numWr d Aarsmer L ~ I fONy Y hrt d a MroeR tlrck r duY spplr Rao panatY tr^nderrW en tM deed Y of Poroale OR ^ Pen of a Parch ~ Pknrdrr6 Bpn ~~ SubeNkJOn Aududty F~reM ry Orrl e& Suhdivkip Approvr wee R^rpdrW W Trarfa Prapary L~.r~ X ~ OR ~ .~` . 3.'7 I rC. Peal MDrowd far subdMron wrtth Map PMridad :lea err. Nrm 7. Chrk the boa blew whiN mmt ^epgtaly daaedMs Ile rue of fix property k the time d rl^: flrerr tlm boar hal^w n tlr^y ePpIY l OwnoMip Type 4 ContlomlNum A ~ Ow FimiN Rardendr E AOdeultunl 1 Community swig tl. fyaw Conrnxtion on VaraM land H 2 a 7 Family ReeidrWl F Commendel ~ J ~ Induarir t0A RopM Leered within m Apieukunl dNkt C RordrWr YaaM land G Apulment IC Puhlk Swig 106. Buyer naivad a Gsebsun notke irrddrinp ^ D Non#ordandr Vaard land H Ent^naNmpt ~ Amrwmont L Fart slot da taagrry h In r AOrkuhud dada SALE INFORMATION a 1 ~ fl 76. Chrt m^ or mon d t1w^ eorWrkm r ^pp6awa m tr^ndr. 71. Bale Contra D^a I / / I A sale Brthvrn Rradvr n Former Relative. r.a H SW Batv/esn RtlWd Cemprdr or Partaen in Businer yl C One of the Buyer is alp s sass 12 D^t^ d Bea I Tnrhw I QS / ZZ / ~/~ I D Buys a Seger is Governmem Altpry or Lrdblp Inrimlen ram osy Yea E peed typo ad W^rrrry or B^rprn end Ss4 fspedN Growl F San d Factionr or loci dun fee Inaroat (Speelry Growl 0 0 I -O ~~ I O Sr6mfcem ChsnOe in Property Betaean T^rda Swan end sale Data 13. FuY 6^Y hlr , , ~ ~ }J Sen d Business r trrtlrdad hr SaM bias e IFup Srs Pried is the tdr anrorrm p^W for tM proMrtY indudinp Dereowl property, 1 Otlrar Unwur Faction Afloalnp Salo Prim (Spcdly Brow) Tlrie p^ymem may br In tlw lam d sett, etlwr propMy a Boada. a the ^aumpdon oT J Nona nrartBipn or othr obOpatlom.l PNao round m dw rrarmt whole dollar en+ount T' QAA15F£1= TO A 'iRLIST ts. hrdira Bw v^Iw d paraaml I -~~0 0 I ~ ProP-ay inekrdW M tk^ eW ; ~ e te. Y^r d Aurram^M Rau from l o , 7 11T. tool A^.....d vrw td ^u p,raY. In vauwd l . U F7. ~. ~ I ' wfddr lof^rrrr^tlon tekr 7 te, Property Clra I oZ ,) .0 1-LJ t& sdmel dada Naw I ' 1 t( // 1 / V Cl~ I m Tr M^p laalwW / Ro6ldenWlaW BI mon then fad, at^eh +lraat with ^ddilbrW WrtYWlrl /OGY - iod ~6 ~d ~ I . l I I I CERTIFICATION I atWy th:tl eR of Ilte Nor d btforarka emend p Ilrk fora Yte Irue and arrta7 lm dw hurt d atY keoakdpe sort belldl arW 1 undrryland Hurl Bye rwklaK d any wBYW hhe roterapt of m^ttrW ha horse wi11 sulrJea ea m the yrodiimn M the pnml lay relative m the wkhyl sal IYaB of f^be WrttmeMc BUYER r BUYER'S ATTORNEY S~dd-07 1..,1PVZ.l'At.1l I ~E~P-!.`~ a ruai an trot sue rear x.pe 2s~~ I m~t~~~.Q,O.R~ i45 enter uuuarr armor ^eai iuu Cu~,~i7f'7u'E I f3 i I I `~13~ . error tar n+n maa ~ /) sELLER 1/~t.s/ .~.~-~`~ S~dd~ f UI i~ JANE ~ilfl.D~S rn (~31 I $'~q- 53a1o eau mei ryrnaeae.,ara. <;, NEW YURK STATE COPY ~ I I raera/weuwr rest sue , /LZ -&,. ? ( JANE K. BLADOS FAMILY TRUST THIS TRUST AGREEMENT is made this 22~ day of May, 2007, by and between JANE. K. BLADOS, residing at 28850 Main Road, Cutchogue, New York, hereinafter called the Settlor, and PATRICIA J. STEWART, residing at 870 Schoolhouse Road, Cutchogue, New York, and DAVID A. BLADOS, residing at 350 Track Avenue, Cutchogue, New York, hereinafter collectively called the Trustee. The Settlor desires, by this agreement, to establish a living irrevocable trust for the purpose of managing Settlor's assets during Settlor's lifetime and distributing those assets after Settlor's death to the beneficiaries set forth herein. Consequently, the Settlor has this day delivered to the Trustee the assets described in Schedule A attached hereto, and the Trustee agrees to hold, administer and distribute all of those assets (including the proceeds thereof and income therefrom), together with all additions thereto and all reinvestments thereof, in accordance with the terms and provisions hereinafter set out. All provisions of this trust shall apply to any further trust or trusts created hereunder unless otherwise indicated. ARTICLE I NAME OF TRUST This Trust shall be known as the JANE K. BLADOS FAMILY TRUST. ARTICLE II DISTRIBUTION OF INCOME AND PRINCIPAL A. During the Life of the Settlor. 1. Income. During the life of the Settlor. the Trustee shall hold, manage, control, invest and reinvest the assets of this trust and shall collect the income from those assets. The Trustee shall, in the Trustee's discretion, convey and pay over to or for the benefit of the Settlor, as much of the net income as needed to provide for the Settlor's support, maintenance, health and happiness. Such income shall be paid in monthly or other convenient installments, but not less than quarter-annually, and not less frequently than the Settlor shall otherwise direct. The Trustee shall also convey and pay over the net income to the Settlor or to such other person or persons and in such proportions as the Settlor or the Settlor's legal representative (including anyone holding a valid durable power of attorney on behalf of the Settlor) may, from time to time, direct. The Trustee shall accumulate and then add to principal any Income not disbursed by the end of the calendar year. The Trustee is hereby directed that all capital gain income shall be allocated to principal. 2. Principal. During the life of the Settlor, the Trustee shall be governed by the following with respect to the Trust principal: a. Settlor. The Trustee shall not, under any circumstances, convey and pay over any part of the principal to or for the benefit of the Settlor. 2 The Settlor is permanently divested of all direct access to the principal of this trust. Notwithstanding the preceding, if this trust contains real property which served as the Settlor's personal residence prior to being transferred into this trust (or a replacement property), or since the creation of the trust has acquired such property (or a replacement property), same shall continue to be held by the Trustee for the sole benefit of the Settlor as Settlor's personal residence, and the Settlor shall also be entitled to all other rights, benefits and obligations which would otherwise be enjoyed by the owner of a life estate, including any income derived from said real property for the duration of Settlor's life. Notwithstanding the preceding, upon the written consent of the Settlor, the Trustee may sell the property and/or purchase another personal residence for the Settlor of the Settlor's own choosing, and the Settlor shall continue to be entitled to the same rights, benefits and obligations which applied to the Settlor's previous residence. It is the intent of the Settlor herein to preserve or obtain any and all types of property tax exemptions which the Settlor would otherwise have been entitled to had the property been retained or held by the Settlor. b. Remaindermen. The Trostee may, ill his or her sole discretion, and without direction from the Settlor, convey and pay over the principal of this trust, in whole or in part, to the trust remaindermen, as defined from time to time in Article II B. Such conveyance shall be considered a countable advancement of a particular remainderman's inheritance to be deducted from his or her share upon the death of the Settlor. The Trustee shall use the following formula: 3 I. To the remammg principal, the Trustee shall add back the amounts of all previous countable advancements made to all the remaindermen. 11. This calculation shall yield the "tentative distributable principal" (TDP). Ill. The Trustee shall next add to the sums of the respective remainderman's countable advancements, the amount of t% for each month or fraction thereof that the remainderman had use of the money advanced, to the month of distribution of the principal now to be divided. The total amounts of all such calculations shall be added to the TDP. IV. The TDP shall be divided among the remaindermen m the proportions specified in Article II (B) below. v. From each remainderman's share of the TDP shall be subtracted his or her advancement and interest. These amounts should, for all remaindermen, equal the existing principal minus specific bequest amounts. This final amount shall constitute the distribution to each respective remainderman. B. Upon the death of the Settlor. Upon the death of the Settlor, the Trustee shall convey and pay over the principal of this Trust, together with any accumulated income ("Residuary"), to the following persons in the following manner: 1. Remaindermen: Limited Power of Appointment. The Settlor hereby reserves a special power to appoint the remaindermen beneficiaries of this Trust as follows: 4 To or among anyone or more members of a class consisting of Settlor's issue, in any degree, whether presently living or born hereafter, in such proportions and amounts, without regard to equality, outright or in further trust, as the Settlor may direct and appoint: a. by written and acknowledged instrument executed by the Settlor, making specific reference to this power of appointment; or b. by the Settlor's Last Will and Testament, validly admitted to probate, by specific reference hereto. The Settlor may not appoint the Settlor, the Settlor's estate, the Settlor's creditors or the creditors of the Settlor's estate, under any circumstances. 2. Remaindermen: In Default of Exercise of Appointment. In default of the Settlor's exercise of Settlor's limited power of appointment as provided above, the remaindermen beneficiaries of this trust shall be the Settlor's children, PATRICIAJ. STEWART, DENISEA. KING, LYNN M. BLADOS, DAVIDA. BLADOS, ANTHONY J. BLADOS, PAULA REEVE and MICHAEL J. BLADOS, except that CD LYNN M. BLADOS' share shall not be paid to her outright but shall be paid to the LYNN M. BLADOS SUPPLEMENTAL NEEDS TRUST dated May 22, 2007, and (ii) should any of Settlor's children not be living at such time, but leave issue surviving, the issue of such predeceased child shall take the share, per stirpes, which their parent would have taken, had he or she survived. 5 ARTICLE III TRUST FOR ISSUE If any of the Settlor's issue, hereinafter sometimes referred to as the "Beneficiary" or "Beneficiaries", entitled to take his or her share outright under the provisions hereinabove, shall be under the age of thirty-five (35) years at the time title vests in him or her, Settlor directs that each Beneficiary's share shall be held by the Trustees, hereinafter named, IN SEPARATE TRUSTS NEVERTHELESS, for the purposes and with the powers set forth in this Article and Article "VIII" herein, as hereinafter provided: A. 1. As to each trust, the Trustees shall manage, invest, and reinvest the trust property, collect all the income accruing thereto, pay all proper costs, charges and expenses of administering the trust, and apply the income and principal of the trust as set forth hereinafter. 2. The Trustees shall pay over, apply or distribute for the use of each such Beneficiary so much of the net income or principal of the trust in his or her name as may be required for the health, education, maintenance and support of each such Beneficiary prior to his or her attaining the age of twenty-one (21) years, and the Trustees shall accumulate and add to principal, annually, the balance thereof until each such Beneficiary shall attain the age of twenty-one (21) years. 3. Upon the attainment of each Beneficiary of the age of twenty- one (21) years, the Trustees shall thereafter pay over and distribute to each such Beneficiary, or apply to his or her use, all the income of the trust in his or her 6 name, quarter-annually or at more frequent intervals as the Trustees shall determine in its sole discretion. 4. The principal of each trust and all accumulated income shall be paid over to the Beneficiaries as follows: (a) One-quarter 0/4) thereof on the twenty-fifth (25th) birthday of each Beneficiary: (b) One-half (t) of the remaining balance on the thirtieth (30th) birthday of each Beneficiary: and (b) The entire remaining balance on the thirty-fifth (35th) birthday of each Beneficiary, at which time each trust shall terminate as to such Beneficiary. 5. In the event any Beneficiary shall have already attained either of such respective ages at the time when such trust fund is directed to be distributed to him or her, the Trustees shall pay over to such Beneficiary, absolutely, such proportionate interest in the separate trust as is directed to be paid such Beneficiary upon attaining such age. 6. In the event that any Beneficiary shall survive the Settlor, but die before attaining the age of thirty-five (35) years, then the Trustees shall pay over and distribute the principal of the share theretofore held in trust for said Beneficiary to the issue of said Beneficiary, per stirpes. In the event that any Beneficiary shall die without leaving any issue, then and in that event, upon the death of such Beneficiary, the Trustees shall transfer, pay over, and distribute in equal separate shares the principal of the share theretofore held in trust for such 7 deceased Beneficiary, to such deceased Beneficiary's brothers and sisters. In the event any of such deceased Beneficiary's brothers and sisters are not then living, such share shall pass to such deceased brother's or sister's issue, oer stiroes, and if none, then to, PATRICIA J. STEWART, DENISE A. KING, LYNN M. BLADOS, DAVID A. BLADOS, ANTHONY J. BLADOS, PAULA REEVE and MICHAEL J. BLADOS, except that (i) LYNN M. BLADOS' share shall not be paid to her outright but shall be paid to the LYNN M. BLADOS SUPPLEMENTAL NEEDS TRUST dated May 22,2007, and (ii) should any of Settlor's children not be living at such time, but leave issue surviving, the issue of such predeceased child shall take the share, per stiroes, which their parent would have taken, had he or she survived, subject to this Article. Notwithstanding anything contained herein to the contrary, in the event that any of Settlor's issue entitled to take hereunder is already a Beneficiary under this Article, such issue's share shall be added to his or her separate trust and be administered in accordance with the trust provisions contained herein. 7. Anything hereinabove contained to the contrary notwithstanding, the Trustees of the separate trusts created herein are authorized and empowered from time to time, to pay, or apply to or for the use of any Beneficiary, such portion of the income and principal of the separate trust set up hereunder for the benefit of such Beneficiary as in its sole judgment the Trustees shall deem necessary for his or her maintenance, health, education or support. The decision of the said Trustees as to the necessity or advisability of any such payments shall be binding and 8 conclusive upon all persons interested in the trusts herein created and shall not be subject to review. B. The separate trusts created for the benefit of Settlor's issue shall be titled the BLADOS FAMILY TRUST f/b/o [beneficiary's name]. C. Notwithstanding anything contained herein to the contrary, the Trustees of any Trust created under this Article shall be the same as those named in Article VII. ARTICLE IV RIGHT TO ADD TO PRINCIPAL Either the Settlor or any other person may, at any time and from time to time, add property acceptable to the Trustee to this trust, including but not limited to the proceeds of life insurance made payable to the Trustee. In addition, the Settlor hereby reserves the right to substitute any property held in this trust with property of an equivalent value. ARTICLE V REVOCATION AND AMENDMENT This Trust shall be irrevocable and not subject to any power to revoke, alter, amend, or modify any term, condition or provision hereof, unless and to the extent specifically permitted herein. 9 ARTICLE VI DEATH TAXES AND OTHER DISTRIBUTIONS Upon the death of the Settlor, prior to the distribution of property under Article II (B) of this Trust, the Trustee shall make the distributions set forth in this Article. The Trustee shall follow any express (not by operation of law) directions of the personal representative of the Settlor's domiciliary probate estate, if any, regarding payment of any estate, inheritance, transfer, succession or other death taxes, which are enforceable against the Settlor's estate. If there are no such express directions from a personal representative. the Trustee shall pay from the trust residuary (without apportionment or right of reimbursement from any beneficiary or recipient either under this Trust, under Settlor's Will or otherwise), the Settlor's said taxes and other such expenses outstanding at the time of the Settlor's death and not barred by the Statute of Limitations, Statute of Frauds, or any other provision of law. Such debts may include valid estate, inheritance, transfer, succession or other death taxes and other governmental charges imposed under the laws of the United States or of any state or country by reason of such death. including interest and penalties attributable thereto, arising because of the Settlor's death (whether or not such property passes hereunder, under the Settlor's Will or otherwise), attorney's fees, and other costs incurred in administering the deceased Settlor's estate. 10 The Trustee is authorized to accomplish the foregoing in the exercise of its discretion by direct payment. loans to the executor of the Settlor's estate. purchase of assets from the Settlor's estate or any other reasonable method. THE FOLLOWING ARTICLES VII-IX SHALL APPLY TO ANY TRUST CREATED UNDER THIS AGREEMENT: ARTICLE VII THE TRUSTEE A. Initial Trustee. The initial Co-Trustees of this Trust Agreement shall be PATRICIA J. STEWART and DAVID A. BLADOS. hereinafter collectively called the Trustee. B. Reserved Rights of Settlor. The Settlor reserves the right. during Settlor's lifetime, with or without cause. by an instrument signed. dated and delivered to the Trustee. to do any of the following: I. To remove any Trustee and replace him or her with one or more new Trustees: 2. To appoint an additional Trustee or Trustees to act as Co- Trustee(s): 3. To appoint and/or change the successor Trustee(s). 4. Notwithstanding any of the preceding. the Settlor shall have no authority to name the Settlor as Trustee or successor Trustee. 11 C. Identitv of Successor Trustee(s). If the Settlor does not exercise Settlor's power to select other successor Trustees during Settlor's lifetime, the following shall serve as successor Co-Trustee in the following order of preference upon the incapacity, removal, resignation or death of a Co-Trustee: I. DENISE A. KING, residing at 360 Greton Court, Mattituck, NY; 2. ANTHONY J. BLADOS, residing at 225 Pine Street, Mattituck, NY; and 3. MICHAEL J. BLADOS, residing at 3148 County Line Road, Skaneateles, NY. 4. In the event that no Trustee or successor Trustee exists to administer the trust estate, then a successor Trustee shall be appointed by the last person to serve as Trustee hereunder, and in default of such an appointment, then by the beneficiaryCies) hereunder, other than the Settlor, who may petition the court having jurisdiction over this trust to appoint a successor Trustee. Notwithstanding the above, under no circumstances may JANE K. BLADOS act as Trustee. D. lncaoacitv of a Trustee. If any Trustee cannot administer the trust because of incapacity, then during any such period of incapacity the successor Trustee named herein shall act as Trustee, having all rights and powers granted to the Trustee by this instrument. Incapacity shall mean any physical or mental condition of the Trustee, whether arising from accident, illness or other cause, which renders the Trustee unable to conduct the regular affairs of the trust, including but not limited to the endorsement for receipt of funds and writing of checks for disbursement of funds 12 from the trust, which condition of incapacity is probable to extend for a period greater than ninety (90) days. Incapacity shall be conclusively established if a written certification to that effect is signed by either the Trustee's regularly attending physician or two doctors, authorized to practice medicine in the state in which the Trustee is then residing or if not residing in the United States, then in the Country in which the Trustee is then residing. Notwithstanding the above, in the absence of such certification, a Co- Trustee or successor Trustee or beneficiary(ies) hereunder may petition the court having jurisdiction over this trust to remove a Trustee, for any of the following reasons: 1. Unavailability: 2. Refusal to act: 3. Breach of fiduciary responsibilities: 4. Whereabouts unknown for more than six (6) months. Anyone who so petitions the court shall not incur liability to any beneficiary of the trust or to the successor Trustee(s) as a result of this petition, provided the petition is filed in good faith and in the reasonable belief that the such Trustee is incapacitated or otherwise cannot act. E. Resignation of a Trustee. Any Trustee may resign at any time by giving written notice of such resignation to the Settlor or Co-Trustee then acting, if any, and if no Co-Trustee is then acting, then to all the then current income beneficiaries who are then over the age of eighteen CIS) years. Any such 13 resignation shall become effective immediately upon such notice or at such date as the Trustee and the Settlor, or the said Co-Trustee or beneficiaries may agree, but no later than thirty (30) days after such written notice. F. Temporarv Delegation of Duties. So long as any individual named in this instrument shall serve as Co-Trustee under this trust, such individual shall have the power from time to time to delegate to the other Trustee all or any of his or her powers as Co-Trustee during temporary vacation periods or other temporary absences from the United States. The power of delegation shall be exercised by delivery by the individual Co-Trustee to the other Trustee of written notice specifying the powers delegated to such delegation and shall terminate upon delivery by the individual Co-Trustee to the other Trustee of written notice of termination. The individual Co-Trustee shall incur no liability to any beneficiary of any trust with respect to administration of such trusts during the period of such delegation. All trusts under this Agreement need not have the same Trustee or Co- Trustee, and a Trustee may resign from one or more Trusteeships without resigning from all. G. Death of a Trustee. The Successor Trustee shall immediately assume the role of Trustee upon the death of a Trustee and the delivery to the successor Trustee of a certified copy of the death certificate of such deceased Trustee. 14 H. Bond. No bond shall be required of any person named in this instrument as a Trustee (including named successor Trustees), for the faithful performance of his or her duties as Trustee, but a subsequent named Trustee or successor Trustee may be required to be bonded, in accordance with the terms of appointment. In addition, the Trustee shall not be required to qualify in any court. I. Provisions Regarding Successor Trustee. 1. A successor Trustee shall succeed to all title to the property of the trust estate and all powers, rights, discretions, obligations and immunities of the trustee hereunder with the same effect as though such successor had been originally named Trustee. 2. No successor Trustee shall be liable for any act, omlSSlOn or default of a predecessor Trustee. Unless requested in writing by a beneficiary of this trust, no successor Trustee shall have any duty to investigate or review any action of a predecessor Trustee or Trustees, and the successor Trustee may accept the accounting records of the predecessor Trustee or Trustees showing assets on hand without further investigation and without incurring any liability to any person claiming or having an interest in the trust. 3. Any third person dealing with the successor Trustee shall accept, and shall be absolutely entitled to rely upon, the statement of the successor Trustee that it has become the successor Trustee in accordance with the provisions of this Article; and shall be under no obligation to make any investigation into the facts or circumstances of the assumption of authority by the successor Trustee. 15 4. The successor Trustee shall not be made subject to any claim or demand by the Settlor or by any beneficiary of the trust estate by reason of its commencing to act as successor Trustee in accordance with the provisions of this Article. 1. Compensation and Reimbursement. The Trustee of this trust shall not be entitled to any commissions for the faithful performance of the duties herein. unless such Trustee is a Corporate Trustee. In the event that the Trustee is a Corporate Trustee, then such Corporate Trustee shall be entitled to compensation according to its schedule of fees for the administration of living trusts in effect from time to time, or in the alternative the remaining Trustees shall negotiate a fair and reasonable commission for said Corporate Trustee. Furthermore, any Trustee shall be entitled to be reimbursed for any personal costs incurred in the administration of this trust and for any expenses of the trust that such Trustee paid. K. Trustee Accounting. The Trustee shall render an annual account of the administration of the Trust to the income beneficiaryCies) and to the Settlor, which accounting shall be made as soon as practical after the close of the Trust's calendar year. A sufficient accounting shall be deemed as having been made by the submission to the beneficiaries of a copy of the Federal fiduciary income tax return filed for the Trust. If no objection to an account has been made in writing by the party entitled to it within sixty days after the mailing of such account by the 16 Trustee, it shall be deemed approved and shall be conclusive upon all persons interested and their successors in interest. However, if such an objection is made, the Trustee shall provide a formal accounting which reflects the trust's assets, obligations, income, distributions, and expenditures. The records of the Trustee shall be open at all reasonable times to the inspection by the Settlor, and in the event of the Settlor's incapacity or demise, to the Settlor's agent (including the holder of a valid durable power of attorney and duly appointed Executor) or to the other beneficiaries named herein. Furthermore, the Trustee shall be entitled at any time to have a judicial settlement of their accounts. The Trustee may at any time settle their accounts by agreement with the beneficiary of the income and such agreement shall bind all persons, whether or not then in being, then or thereafter entitled to any portion of the trust and shall effectively release and discharge the Trustee for the acts and proceedings set forth in the account. L. Specific Authorization For Single Signature. In the event that more than one Trustee shall be serving as Trustee at any point in time, then any bank, brokerage firm, or other financial or insurance institution doing business with the Trustees is hereby authorized upon the consent of the Trustees to open any account in such a manner as to permit the transaction of any business upon the signature of anyone Trustee or a particular Trustee rather than the signature of all Trustees. 17 ARTICLE VIII TRUSTEE POWERS It is the Settlor's intention to grant to the Trustee the power to deal with all of the trust property as freely as Settlor could individually in the handling of Settlor's own affairs. The Trustee shall have all the powers and protection granted to Trustees by statute at the time of application, and in addition the Trustee shall have the powers and responsibilities described below, to be exercised in the Trustee's sole discretion. A. Retain Trust Estate. To retain, without liability for loss or depreciation resulting from such retention, the original assets and all other property hereafter transferred, devised or bequeathed to the Trustee for such time as the Trustee shall deem advisable. This shall be allowed even though (i) such property may not be of the character prescribed by law or by the terms of this agreement for the in- vestment of trust assets and/or Gi) it represents a large percentage of all of the trust estate. Said original property may accordingly be held as a permanent investment. The Trustee may, in the Trustee's discretion, retain in the trust any personal effects, heirlooms or similar tangible personal property which the Trustee deems desirable or appropriate to retain, for storage or use by any beneficiary during the existence of the trust, or for distribution to the remaindermen upon termination of the trust. B. Hold Uninvested Cash and Unproductive Propertv. For any periods deemed advisable, to hold cash, uninvested, even though the total amount so held 18 is disproportionate under trust investment law or would not be permitted without this provision, and to retain or acquire and hold unproductive realty or personalty. C. To Receive Assets. To receive, take possession of, sue for, recover, and preserve the assets of the trust estate, both real and personal, coming to its attention or knowledge, and the rents, issues and profits arising from such assets. To receive additional property from any source, including the Personal Representative of the Settlor's estate and the Trustee or beneficiary of any other trust, by whomsoever created, and to hold and administer this property as part of the Trust. To continue to hold and operate, to sell, or to liquidate, at the risk of the trust estate, any closely held business interest, whether proprietorship, partnership, or corporation. D. Invest and Acquire. To invest and reinvest trust assets in any type of property or security without regard to the proportion that investments of the type selected may bear to the entire trust, without limitation to the classes of trust investments authorized by law, and without regard to the possibility that the investments may be in new issues or in new or foreign enterprises and to write options against long positions. The property acquired may be realty or personalty and may include life insurance, bonds, debentures, leaseholds, options, easements, mortgages, notes, mutual funds, investment trusts, common trust funds, voting trust certificates, and any class of stock or rights to subscribe for stock, regardless of whether the yield rate is high or low or whether or not the new asset produces any income at all. It is intended that the Trustee shall have the authority to act in any 19 manner deemed in the best interest of the trust involved, regarding it as a whole, even though certain investments considered alone might not otherwise be proper. E. Ootions. Warrants. Puts. Calls and Commoditv Accounts. The Trustee IS specifically authorized, in the Trustee's discretion, to buy, sell or transfer options, warrants, puts, calls, commodity accounts, and to maintain brokerage margin accounts. F. Exercise Ootions and Conversion Privileges. To exercise any options, rights, and conversions privileges pertaining to any securities held by the Trustee as trust assets. G. To Sell. Lease and Enter into Contracts. To sell, convey, grant options to purchase, lease, transfer, exchange or otherwise dispose of any trust asset on any terms deemed advisable; to execute and deliver deeds, leases, bills of sale, and other instruments of whatever character; and to take or cause to be taken all action deemed necessary or proper in connection therewith. To enter into contracts, which are reasonably incident to the administration of the trust: to carry out the terms of any valid agreement which the Settlor may have entered into during the Settlor's lifetime concerning property owned by the trust. H. Insure. To carry any insurance deemed advisable with any insurer against any hazards, including public liability, and to use insurance proceeds to repair or replace the asset insured. Such insurance may be for the purpose of protecting the trust assets as well as the Trustee personally against any hazard. 20 To collect the net proceeds of any insurance payable to the trust. The Trustee shall have the power to take such action as it deems appropriate to enforce any claims of the trust estate under such policy, plan or contract and to compromise, arbitrate or otherwise settle such claims, all at the expense of the trust but with no obligation on the Trustee to incur expenses or liabilities that cannot be paid from trust funds or for which the Trustee has no assurance of indemnification. Payment to the Trustee by the insurance company of the proceeds of any insurance policy, including life insurance, disability insurance, hazard insurance, or otherwise, and receipt and release from the Trustee for such proceeds and/or policies shall be a full discharge of the liability of such insurance company with respect to such proceeds, and no insurance company need inquire into or take notice of this Agreement or see to the application of such payments. /. Lend. On any terms deemed advisable, to lend trust funds to any borrower (except to the Settlor or the Settlor's spouse, if any, or for the benefit of either of them) including the Trustee or beneficiary of any trust, by whomsoever created, and to change the terms of these loans. This authorization includes the power to extend them beyond maturity with or without renewal and without regard to the existence or value of any security therefor, and to facilitate payment thereof, to change the interest rate thereof, and to consent to the modification of any guarantee relating thereto. Notwithstanding the preceding, the Trustee must first obtain the written consent of the Settlor, if living, and if not, all adult interested parties, before acting under this provision. 21 J. Borrow. To borrow whatever money the Trustee deems desirable for any trust on the terms from any lender, including the Personal Representative of Settlor's estate, and the Trustee or beneficiary of any other trust, by whomsoever created, and to mortgage, pledge or otherwise encumber as security any assets of the borrowing trust. K. Terms or Duration of Obligation. Incident to the exercise of any power, to initiate or change the terms of collection or of payment of any debt, security, partnership interest or other obligation of or due to the trust, upon any terms and for any period, including a period beyond the duration or the termination of any or all trusts. L. Compromise or Abandonment of Claims. Upon whatever terms the Trustee deems advisable, to compromise, adjust, arbitrate, sue on, defend, or otherwise deal with any claims, including tax claims, against or in favor of any trust, to abandon any asset the Trustee deems of no value or of insufficient value to warrant keeping or protecting; to refrain from paying taxes, assessments, or rents, and from repairing or maintaining any asset; and to permit any asset to be lost by tax sale or other proceeding. M. Distribution in Cash or in Kind. To distribute any shares in cash or in kind, or partly in each, and the Trustee's valuation of assets upon making distribution shall, if made in good faith, be final and binding on all beneficiaries. Notwithstanding the above, the Trustee shall attempt to equalize, as far as practicable, the aggregate income tax basis of such assets distributed to the various beneficiaries. 22 N. Bid on or Take Over Without Foreclosure. To foreclose any mortgage, to bid on the mortgaged property at the foreclosure sale or acquire it from the mortgagor without foreclosure, and to retain it or dispose of it upon any terms deemed advisable. O. Pav Off Encumbrances. To payoff any encumbrance on any trust asset and to invest additional amounts to preserve it or to increase its productivity. P. Vote Stock. To vote stock for any purpose in person or by proxy, to enter into a voting trust hereunder in any capacity permitted by law, including service as officer or director. Q. Participate in Reorganization. To unite with other owners of property similar to any held in trust in carrying out foreclosure, lease, sale, incorporation, dissolution, liquidation, reincorporation, reorganization, or readjustment of the capital or financial structure of any association or corporation in which any trust has a financial interest, to serve as a member of any protective committee to deposit trust securities in accordance with any plan agreed upon; to pay any assessments, expenses, or other sums deemed expedient for the protection or fur- therance of the interests of the beneficiaries hereunder; and to receive and retain as trust investments any new securities issued pursuant to the plan, even though these securities would not constitute authorized trust investments without this provIsIOn. R. Purchase Propertv from Estate. To purchase property, real or personal. from the Settlor's or a beneficiary's estate upon such terms and conditions as to price and terms of payment as the Trustee and the respective 23 Personal Representative shall agree upon. To hold the property so purchased in trust although it may not qualify as an authorized trust investment except for this provision, and to dispose of such property as and when the Trustee shall deem advisable. S. Emplovment of Assistants and Agents. To any extent reasonably necessary, to employ attorneys-at-law, accountants, tax specialists, brokers, investment counselors, realtors, managers for businesses, farms, ranches, groves and forest, technical consultants, attorneys-in-fact, agents and other consultants and assistants the Trustee deems advisable for the proper administration of the trust estate. In the event that the Trustee can provide any of the above services in the regular course of the Trustee's profession or business, then such Trustee can perform such services and shall be entitled to reasonable and customary compensation without fear of violating any self dealing laws. T. Establishment and Maintenance of Reserves. Out of the rents, profits, or other gross income received, to set aside and maintain reserves to the extent deemed advisable to meet present or future expenses, including taxes, assessments, insurance premiums, debt amortization, repairs, improvements, depreciation, obsolescence, general maintenance and reasonable compensation for services, including services of professional and other employees authorized hereby, as well as to provide for the effect of fluctuations in gross income and to equal or apportion payments for the benefit of beneficiaries entitled to receive income. U. Manage Realtv. To deal with realty in any manner lawful to an owner thereof. This authority includes the right to manage, protect, and improve it, to 24 raze, alter and repair improvements, to sell or contract to sell it in whole or in part, to partition it, to grant options to purchase it, to donate it, to convey it, to acquire it, release or grant easements or other rights relating to it, to dedicate parks and thoroughfares, to subdivide it, to vacate any subdivision or any part thereof and resubdivide it from time to time, to lease it in whole or in part, and to renew, extend, contract for, and grant options in connection with leases. Leases, contracts to sell, mortgages and any contracts entered into by the Trustee can be made on any terms and for any period, including a period beyond the duration or termination of any or all trusts. To make any and all payments for maintenance, taxes and any and all other charges incidental to the ownership and or occupation of any real estate owned by the trust or Trustee. V. Carrving Several Trusts as One Estate. To the extent that division of the trust is directed hereby, to administer the trust physically undivided until actual division thereof becomes necessary to make distribution; to hold, manage, invest and account for whole or fractional trust shares as a single estate, making the division thereof by appropriate entries in the books of account only, and to allocate to each whole or fractional trust share its proportionate part of all receipts and expenses; provided, however, this carrying of several trusts as a single trust shall not defer the vesting in possession of any whole or fractional share of a trust for the beneficiaries thereof at the times specified herein. W. Allocation to Principal and Income. All receipts of money or property paid or delivered to the Trustee and all expenses shall be allocated to principal or 25 . income in accordance with the law of the State of New York; and if the law is silent, then the Trustee shall act in accordance with generally accepted accounting principles in the Trustee's discretion, which principles shall be consistently applied. X. To Prepare Tax Returns and Make Elections. To prepare and file returns and arrange for payment with respect to all local, state, federal, and foreign taxes incident to the agreement; to prepare all necessary fiduciary income tax returns; to make all necessary and appropriate election in connection therewith in its discretion, even if an election has the effect of favoring one beneficiary or set of beneficiaries to the apparent disadvantage of another. Y. To Seek and Maintain Public Benefits for a Beneficiarv. To take any and all steps necessary, in the Trustee's discretion, to obtain and maintain eligibility of any beneficiary under this trust for any and all public benefits and entitlement programs. Such programs include but are not limited to Social Security, Supplemental Security Income, Medicare, and Medicaid. Z. Financial Accounts and Use of Nominee. To handle trust funds, including deposits and withdrawals, in any savings or other account, interest- bearing or non-interest bearing, in any currency whatsoever, with any bank, financial institution, or other depository, or deposit such trust funds in investment certificates or time certificates or other investment paper. To hold title in the name of a nominee or in a manner that will pass title by delivery or otherwise facilitate proper administration, but the Trustee is liable for any act of the nominee in connection with the security so held. 26 . ARTICLE IX ADMINISTRATIVE PROVISIONS A. Prohibition of Alienation, No income or principal beneficiary of any trust created hereunder shall have any right or power to anticipate, pledge, assign, sell, transfer, alienate or encumber his or her interest in the trust, in any way; nor shall the Trust itself be liable for or subject to the debts, liabilities or obligations of such beneficiary, or claims of any sort against such beneficiary. B. Choice of Law. This Agreement shall be construed and regulated in all respects by the laws of the State of New York. This paragraph shall apply regardless of any change of residence of a Trustee or any beneficiary, or the appointment or substitution of a Trustee residing or doing business in another state. Notwithstanding the foregoing, the validity and construction of this trust in relation to any real property located in a jurisdiction outside the State of New York shall be determined under the laws of such jurisdiction. C. Binding, This Agreement shall be binding upon the heirs, personal representatives, successors and assigns of the parties hereto. The consent of infant and contingent beneficiaries or their agents, is not required to effect an abrogation, in whole or in part, of said Trust. D. Perpetuities Savings Clause. Unless terminated earlier in accordance with other provisions of this instrument, all trusts created under this instrument shall terminate twenty-one (21) years after the death of the last survivor of the Settlor's beneficiaries living on the date of the execution of this Trust. Any property still held in trust at the expiration of that period shall immediately be dis- 27 . tributed to the persons then entitled to receive or have the benefit of the income therefrom in the proportions in which they are entitled thereto, or if their interests are indefinite, then in equal shares. E. Soendthrift. The interests of beneficiaries in principal or income shall not be subject to the claims of any creditor, any spouse for alimony or support, or others, or to legal process, and may not be voluntarily alienated or encumbered. F. No Contest. If any beneficiary under this trust, or rider hereto, shall, in any manner, directly or indirectly, attempt to contest or oppose the directions or validity of this trust, or rider hereto, in any court or commence or prosecute any legal proceeding of any kind in any court to set aside this trust, or rider hereto, then and in that event such beneficiary shall forfeit and cease to have any right or interest whatsoever under this trust, or rider hereto. In such an event, this trust, and rider hereto, shall be interpreted in all respects as if such beneficiary had predeceased the Settlor. Notwithstanding the above, a beneficiary may pursue a legally enforceable debt against the Settlor or Trust, incurred prior to the Settlor's death. G. Claims of Creditors. The Trustee shall not be personally liable to any creditor or to any other person for making distributions from any trust under the terms of this instrument if the Trustee has no notice of the claim of such creditor. H. Severabilitv Clause. If any provision of this trust instrument is unenforceable, the remaining provisions shall nevertheless be carried into effect. I. Survivorshio Provision. Except as otherwise specifically provided in this instrument, any beneficiary not living sixty (60) days after the death of the 28 . Settlor shall be deemed not to have survived the Settlor. J. Distributions to Minor Beneficiaries. If any beneficiary hereunder (contingent or otherwise), not otherwise provided for hereunder, is under the age of twenty-one, his or her share shall not be distributed to him or her, but shall be retained by the Trustee. The Trustee shall hold his or her share in a separate trust for each such beneficiary and administer and distribute the property as follows: 1. The Trustee shall pay to the beneficiary, or apply for his or her benefit, so much of the net income and such portion of the principal at any time and from time to time as the Trustee deems advisable for the support, maintenance, general welfare, and education of the beneficiary. Any net income not so paid or applied shall be added to principal periodically, at least annually. 2. The Trustee shall distribute the remaining income and principal of the trust to the beneficiary when he or she shall attain the age of twenty-one (21). 3. If a beneficiary shall die before attaining the age of twenty-one (21), the Trustee shall distribute the remaining principal and income of his or her trust to his or her surviving issue, or in default of such issue, to his or her surviving brothers and sisters, or in default of such brothers and sisters, to the Settlor's then-surviving issue. The share of any beneficiary for whose benefit a trust under this agreement is then in existence shall be added to such a trust, to be administered and distributed in like manner as the original fund. 4. If the Trustee shall determine that the size of a trust created in the Article does not warrant the cost of continuing the trust, or that the continuance 29 . of the trust is not in the best interest of the beneficiary, such Trustee, without the permission or order of any court, may terminate it. Upon such termination, the balance remaining in the trust, after the payment of the Trustee's expenses and commissions, if any, shall be distributed to the beneficiary then entitled to the mcome. If such beneficiary is a minor, distribution may be made, in the discretion of the Trustee, in any of the following manners: a. To the minor: b. To a Guardian or other legal representative, wherever appointed, without requiring ancillary guardianship; c. To an adult with whom the minor resides: d. To a custodian for the minor under the Uniform Transfer or Gifts to Minors Act of any jurisdiction with power to select any person or corporate fiduciary (including any Trustee under this agreement) to be custodian until age twenty-one (21), The Trustee shall have no obligation to see to the use of application of the distributions and the receipt by such beneficiary, guardian, person, or custodian shall be complete discharge as to such distribution. In deciding whether to terminate the trust, the Trustee need not consider the interests of remaindermen, and their respective interests in the trust shall cease upon termination by the Trustee. If a beneficiary is serving as Trustee at the time, he or she shall not take part in deciding whether to terminate the trust. 30 . K. Limitations. 1. Judicial Limitation. No Judge of any Court shall be empowered to order the distribution of income or principal contrary to the terms of this Trust. This provision is specifically intended to negate and eliminate any discretion granted to any Court by Section 7-1.6 of the New York State Estates, Powers and Trusts Law (EPTL), and as amended from time to time. 2. Trustee Limitation. Pursuant to New York State Law EPTL !}1O- 10.1(3), the Trustee, if a beneficiary of this Trust, shall have the authority make discretionary allocations, in such Trustee's favor, of receipts and expenses as between principal and income. L. Disposition of Trust If Declared Void. In the event that this Trust shall be determined or adjudicated to be void ab initio in full or in part, or should the Trustee be for any reason directed by any court to distribute principal to the Settlor in contravention of the provisions herein, then this Trust shall terminate and all the Trust property is to be paid over to the remaindermen beneficiaries pursuant to Article II B, in the proportions specified (subject to advancements paid) with the same force and effect as if an absolute gift had been made on the dates of transfer of the property into the Trust and such property shall in no instance revert to the Settlor. M. Definitions. For the purposes of this trust, the following terms will have the following meaning and connotation, unless the contents of any passage hereof specifically requires otherwise: 31 . 1. Trustee: The term "Trustee" refers to the single, multiple, remammg and successor and/or substitute Trustees who at any time may be appointed and acting in a fiduciary capacity under the terms of this agreement. 2. Gender: Where appropriate, words of the masculine gender in- clude the feminine and neuter: words of the feminine gender include the masculine and neuter: and, words of the neuter gender include the masculine and feminine. 3. Singular and Plural: Where appropriate, words used in the plural or collective sense include the singular and vice-versa. 4. Schedule A: The initial principal of this trust has been stated on Schedule A attached hereto. The purpose of Schedule A is to expressly indicate that the trust was actually funded from its beginning. There is no further obligation upon the Settlor or Trustee to modify Schedule A on the occurrence of any addition to the principal or any disposition of the original principal. 5. Notice: "Notice" throughout this trust agreement shall be in writing and shall either be personally delivered or mailed with postage prepaid in a manner reasonably designed to communicate the information contemplated. 6. Education: Whenever provision is made to pay for the education of a beneficiary, the term "education" shall include private and/or parochial elementary and secondary education, vocational school, college, postgraduate study, remedial or special needs at an institution or with instructors of the beneficiary's or his or her legal guardian's choice. It shall also include study in music or any of the arts with an appropriate instructor or school. In determining payments to be made to the beneficiary or on his or her behalf for education, the 32 , Trustee shall consider the beneficiary's reasonable related living and travel expenses. SIGNED AND ACKNOWLEDGED this Mnjay of May. 2007. .;fL~. JAK.BLADOS.SETTLOR STATE OF NEW YORK: ss. : COUNTY OF SUFFOLK: On May22. 2007. before me. the undersigned. a Notary Public in and for said State. personally appeared JANE K. BLADOS. personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that she executed the same in her capacity and that by her signature on the instrument, the individual. or the person upon behalf of which the individual acted. executed the instrument. JuY'uf U/JUfiIJL NOTARY PUBLIC 33 TERRY CIPRIANI NOTARY PUBLIC" Stale of New York No. 02016('02962 Qualified in Suffoll< County D Commissioll FYI"\iyp<; Feb. 17, 20L , STATE OF NEW YORK: ss.: COUNTY OF SUFFOLK: On Mayn, 2007, before me, the undersigned, a Notary Public in and for said State, personally appeared PATRICIA J. STEWART, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that she executed the same in her capacity and that by her signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument. ~I Uf/2~dN- NOTARY PUBLIC STATE OF NEW YORK: ss.: COUNTY OF SUFFOLK: TERRY CIPRIANI NOTARY PUBLIC, State of New York No. 02CI6002062 Q~af!fjed in Suffolk'" County Commission Expires Feb. 17, 20/0 On May22, 2007, before me, the undersigned, a Notary Public in and for said State, personally appeared DAVID A. BLADOS, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity and that by his signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument. Juu/ {;plUrIlG NOTARY 'PUBLIC TERFlY CIPRIANI NOTARY PNUBUC, S!2te of New York . .0. 02C!6002962 Q'!a'!fled i~ Sdfo!K Count C(lmnl_IS~IO'l E;-,:pr,"GS Feb. 17, ~olO 34 . . . ~ SCHEDULE A This~chedule is to be attached to the JANE, K. BLADOS FAMILY TRUST, dated theaJ"day of May, 2007, by and between JANE K. BLADOS, as Settlor, and PATRICIA J. STEWART and DAVID A. BLADOS, as Trustees. REAL PROPERTY LOCA TED AT: 28850 Main Road Cutchogue, New York Two Hundred Fifty and 00/100 ($250.00) Dollars and other good and valuable consideration. 35