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State of California - California Environmental Protection Agency Department of Toxic Substances Control Section 8. Express Powers of Trustee. Without in any way limiting the powers and discretion conferred upon the Trustee by the other provisions of this Agreement or by law, the Trustee is expressly authorized and empowered : (a) To sell , exchange , convey, transfer or otherwise dispose of any property held by It , by public or private sale . No person dealing with the Trustee shall be bound to see to the application of the purchase money or to inquire into the validity or expediency of any such sale or other disposition ; (b) To make , execute , acknowledge and deliver any and all documents of transfer and conveyance and any and all other instruments that may be necessary or appropriate to carry out the powers herein granted $ (c) To register any securities held in the Fund in its own name or in the name of a nominee and to hold any security in bearer form or In book entry, or to combine certificates representing such securities with certificates of the same issue held by the Trustee in other fiduciary capacities , or to E eposit of such securities in a qualified central depositary even though , deposit or arrange for the d when so deposited , such securities may be merged and held in bulk in the name of the nominee of such depositary with other securities deposited therein by another person , or to deposit or arrange for d by the United States Government , or any agency or the deposit of any securities isFeede ai Reserve bank, but he books and records of the Trustee shall instrumentality thereof, with a at all times show that all such securities are part of the Fund , (d ) To deposit any cash in the Fund in interest-bearing accounts maintained or savings certificates issued by the Trustee, in its separate corporate capacity, or in any other banking institution affiliated with the Trustee , to the extent insured by an agency of the Federal or State government; and (e) To compromise or otherwise adjust all claims in favor of or against the Fund . Section 9. Taxes and Expenses. All taxes of any kind that may be assessed or levied against or in respect of the Fund and all brokerage commissions incurred by the Fund shalt be paid from the Fund . All other expenses incurred by the Trustee in connection with the administration of this Trust, including fees for legal services rendered to the Trustee , the compensation of the Trustee to the extent not paid directly by the Grantor, and all other proper charges and disbursements of the Trustee shall be paid from the Fund . Section 10. Annual Valuation. The Trustee shall annually, at least 30 days prior to the anniversary date of establishment of fihe Fund , furnish to the Grantor and to the Beneficiary a statement confirming the value of the Trust. Any securities in the Fund shall be valued at market h value as of no more than 60 days prior to the anniversary date of establishment of the Fund . The failure of the Grantor to object in writing to the Trustee within 90 days after the statement has been furnished to the Grantor and Beneficiary shall constitute a conclusively binding assent by the Grantor, barring the Grantor from asserting any claim or liability against the Trustee with respect to matters disclosed in the statement . Section 11 . Advice of Counsel. The Trustee may from time to time consult with counsel , who may be counsel to the Grantor, with respect to any question arising as to the construction of this Agreement or any action to be taken hereunder. The Trustee shall be fully protected , to the extent permitted by law, in acting upon the advice of counsel . Section 12, Trustee Compensation. The Trustee shall be entitled to reasonable compensation iting from time to time with the Grantor. for its services as agreed upon in wr Page 3 of 8 DTSC 1154 (10101 /2010)