26 MARINE BIOLOGICAL LABORATORY. 



securities held by it; and as the holder of such securities the Trustee 

 may in its discretion join in any reorganization, merger, consolidation 

 or dissolution of any corporation whose securities it holds, whenever 

 such action may be deemed by the Trustee in its discretion necessary 

 or proper in the interests of the trusts; and the Trustee may accept 

 in exchange for such securities any new securities issued in exchange 

 therefore upon any such reorganization, merger, consolidation or 

 dissolution. 



The provisions of this article are not intended as a limitation upon 

 the powers accruing to the Trustee hereunder as a Trustee of an express 

 trust. 



8. The Trustee shall not be required to retain or set aside any 

 portion of the income derived from securities for the purpose of 

 creating a sinking fund to amortize the premium upon any securities 

 purchased or taken over above par and conversely, if securities shall 

 be purchased or acquired at a discount, and there shall subsequently 

 be collected or realized thereon on sale or collection an amount in 

 excess of the original investment therein, the amount of such excess 

 shall be treated for all purposes as principal and not income. 



9. The Trustee shall be entitled to reasonable compensation for its 

 services rendered hereunder, and as long as the Central Union Trust 

 Company of New York shall be Trustee it is agreed that the amount 

 of such compensation in full for all its services herein shall be the sum 

 of Three hundred and fifty Dollars ($350), per annum. Payment on 

 account of such amount to be deducted and withheld from time to 

 time in the discretion of the Trustee as income is collected or received. 



10. The Grantor reserves unto itself full power to enforce the 

 provisions of this Deed or Trust, and, for that purpose, to institute, 

 conduct, defend, intervene in, compromise or terminate, either by 

 itself or jointly with the Beneficiary, any and all suits, actions or 

 proceedings at law or in equity or otherwise against the Trustee or 

 its successors under this Deed of Trust, provided that the Grantor, 

 when acting under the provisions of this article shall be deemed to be 

 acting on behalf of the Beneficiary; provided further, that nothing in 

 this article shall be deemed to deprive the Beneficiary named herein, 

 or the person or persons to whom the net income and revenue arising 

 under this Trust are payable, of the right to enforce in behalf of the 

 Beneficiary the provisions of this Deed of Trust, except in cases in 

 which the Grantor shall already have taken action to enforce such 

 provisions on behalf of the Beneficiary. 



1 1 . Except in so far as is otherwise provided by the provisions of this 

 Deed of Trust, the Trustee named shall be deemed to possess and 



