07 - Laserfiche WebLink

sell the property but shall impose on any transferee an historic restoration obligation and/or conservation easement such that the home itself cannot be demolished or renovated so as to eliminate all historic significance (d) Trust Termination The trust shall terminate at the earlier of the following occurrences. (i)the liquid assets of the trust total less than$50,000 in value,(ii)the property at 309 Neal Street,Pleasanton,California,has been converted to use and actively used as a museum with public access for a minimum of three months,and(iii)the transfer of 309 Neal Street, Pleasanton,California,to a purchaser pursuant to the provisions of sub- section(c)above Upon termination of the trust,the remaining trust assets shall be distributed outright and free of trust to the City of Pleasanton,a municipal corporation,and used for historical building preservation purposes ARTICLE FOUR TRUSTEE PROVISIONS 4 1 Nomination for All Trusts For all trusts under this will,I nominate as trustee and as successor trustees those named below Each successor trustee shall serve in the order designated if the prior trustee fails to qualify or ceases to act. First PETER MacDONALD,attorney at law Second PETER MacDONALD's designee Third. The designee of a majority of the then actmg members of THE PLEASANTON CITY COUNCIL 4 2 Individual Trustee's Death or Disability-Successor Trustee Acts If any individual trustee is unable to participate in trust activities because of death,illness,disability,or any other reason,the designated successor trustee shall act as trustee In determining the disability of the individual trustee,the successor trustee may rely on written statements from two licensed physicians who have examined the trustee In the absence of such statements,the successor trustee shall petition the court having jurisdiction over this trust for authonty to proceed as successor trustee The successor trustee shall incur no liability to any beneficiary of the trust or to the replaced trustee as a result of any action taken under this provision 4 3 Resignation-Designated Successors Any trustee may resign at any time from any trust under this instrument. The resigning trustee shall give written notice of the resignation by personal delivery or registered mail to THE PLEASANTON CITY COUNCIL The resignation shall be effective on the qualification of a designated successor trustee The designated successor trustee shall act as trustee on acceptance of the appointment 2