318 TIMBER BONDS 



appoint new Trustees (one Trustee always to 

 be a private person, and the other to be a 

 Trust Company organized under the laws of 

 the State of Illinois), said John W. Gary to 

 be the immediate successor to said John K. 

 Lyon, which instrument, when recorded in the 

 proper offices for recording deeds and mort- 

 gages in the Counties of Lane and Linn, State 

 of Oregon, (and on payment to said Trustees 

 of all charges and compensation to which they 

 shall at that time be entitled hereunder) shall 

 ipso facto, and without any further action, sub- 

 stitute such new Trustees in the place of the 

 Trustees herein named, or in place of any suc- 

 cessor Trustees, with all the rights, powers 

 and privileges granted to the said Trustees 

 under this instrument, and no conveyance from 

 the old Trustees to the said Trustees thus ap- 

 pointed shall be necessary to convey the trust 

 premises to such new Trustees, but the old 

 Trustees shall and will, upon the request of 

 such new Trustees, execute any conveyance 

 necessary or proper in order to vest the said 

 premises in such new Trustees. 



In case of the death or resignation, or the 

 incapacity or inability of the said John K. 

 Lyon to act as Trustee hereunder, the said 

 Corporation Trustee and said Lyon, Gary & 

 Company may in like manner (to wit: by writ- 

 ing properly executed and recorded) appoint 

 another person in his place and stead, in which 

 case such successor so appointed shall succeed 



