Life Insurance Trust Declaration

OF

MARTIN E. WAITE

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DECLARATION OF TRUST (Ir revocable Life Insurance Trust)

THIS DECLARATION OF TRUST is made this __ day of July, 2013, at Noblesville, Indiana, between M A R T I N E . W A I T E as Settlor ("Settlor"), and PAMELA K. WAITE, as Tntstee ("'Trustee").

Trustee, of Hamilton County, Indiana hereby declares that:

ARTICLE ONE: DECLARATIONS

1.0 Purpos of Trust. This trust is established to provide income and security for the beneficiaries named in Article Two, especially on the Settlor"s premature death. The Trustee is specifically authorized and encouraged to acquire or receive life insurance policies on the Settlor's life along "vith any cash, securities, or other property that the Trustee may, under any provisions of this Trust, at any time hold or acquire, provided the Trustee shall have not obligation to hold or acquire any life insurance policies and shall do so only if, in the Trustee's discretion, the investment would be in the best interests of the beneficiaries of this Trust. All property, including the proceeds of any property that may later become subject to this Trust, shall constitute the Trust estate and shall be held, administered, and distributed by the Trustee as set forth in this instrument.

1.02 Conveyance to T rustee. The Trustee declares that Settlor has transferred and delivered to the Trustee, without consideration, all the property described in an inventory hereto attached as Exhibit A.

1.03. Definition of T rust Estate. All property subject to this instrument from time to time shall be refetTed to as the "Trust Estate" and shall be held, administered, and distributed as provided in this instrument. The Trustee shall hold, administer, and distribute the property described in Exhibit A, any other property that may be hereafter subject to this Trust, and the income and proceeds attributable to all such property, in accordance with the provisions of this instrument.

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1.04. Names of Trusts. The Trusts created by this instrument shalJ be known collectively as THE MARTIN E. WAITE LIFE INSURANCE TRUST dated September 11,2013, and each separate Trust created under this instrument shall be referred to by adding the name or designation of that separate Trust as it appears in the appropriate section of this instrument.

1.05. Marital Status. The Settlor is married to PAMELA K. WAITE, and all references in this Trust instrument to the Settlor's vvife are to her.

1.06. Identification of Living Child(ren). The Settlor has four (4) living children, one grandchild and my church, whose names and dates of birth are as follows:

Name Birth Date Trust Amount

Andrew E. Waite 6-16-1976 $220,000.00

Christy L. Sparks 2-13-1978 $220,000.00

Adam J. Waite 4-11 -1979 $220,000.00

Jarni R. Waite 11-22-1989 $220,000.00

Levi E. Kraus 05-26-2010 $20,000.00

White Rock Fellowship $100,000.00

After Born Children*

In the event that Settlor shaU have any children born to him after his death, the Trustee shall divide the property into as many shares of equal market value as may be necessary to provide one share for each then living child of the Settlor and one share for the then living issue ot· each deceased child of the Settlor.

1.07. No Deceased Children. The Settlor has no deceased children.

ARTICLE TWO: DISTRIBUTION OF PRINCIPAL AND INCOME OF TRUST ESTATE

2.01 During Lifetime of Insured. During the insured's lifetime, the Trustee shall accumulate and add to principal any income not distributed.

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2.02 After Death of Insured. After Death of Insured. Distribution: The Trustee shall distribute the net income of this Trust to the Spouse at least quarter annually. The Trustee shall also distribute to the Spouse such amounts of Trust principal as are necessary, when added to the funds reasonably available to her from all other sources known to the Trustee (excluding any other Trust or life insurance distributions or proceeds) to provide for her health, support, maintenance and education, in order to maintain her liberally in accordance with the standard of living to which she was accustomed at the time of the death of the Grantor. The primary purpose of the Trust created by this Article is to provide for the Spouse and not to accumulate funds for the remainder beneficiaries. Accordingly, the Trustee shall always consider the needs of the Spouse ahead of the needs of any other beneficiary under this Trust Agreement. The Trustee shall make distributions to the Spouse in accordance with the aforementioned distribution standards even if doing so exhausts the principal of the Trust created under this Article. During the Spouse's lifetime, no distributions from this Trust shall be made to any person other than the Spouse. The Spouse may direct the Trustee to convert any unproductive property in this Trust into productive property within a reasonable time.

2.03. Power of Appointment. On the death of a Trust beneficiary, the Trustee shall distribute any remaining balance of the Trust estate, including both principal and any accrued or undistributed income, to such one or more persons and entities, other than the beneficiary, his or her estate, his or her creditors, or the creditors of his or her estate, and on such terms and conditions, either outtight or in Trust, as the beneficiary shall appoint by a vvritten instrument filed with the Trustee, specifically referring to and exercising this power of appointment.

2.04. Distribution of Remainder. If, at any time before ful l distribution of the Trust estate, the beneficiaries designated in this instrument are all deceased and no other disposition of the Trust estate is directed by this instrument, all of the remaining portion of the Trust estate shall then be distributed to the person or persons who are the Settlor's heirs at law, in the manner provided in Indiana Probate Code.

2.05. Trustee's Power to Determine Income and Principal. Unless otherwise specifically provided in this instrument, the determination of all matters with respect to what is principal and income of any Trust under this instrument and the apportionment and allocation of receipts, expenses, and other charges between principal and income shall be governed by the provisions of the Indiana Uniform Principal and Income Act from time to time existing. The Trustee in the Trustee's discretion shall determine any matter not provided for either in this instnunent or in the Indiana Uniform Principal and Income Act.

2.06. P reventing Outright Distributions to Minors and Others.

A. If any person entitled to outright distribution of a Trust or of a portion of a Trust is under age 18, or if the Trustee shall determine that there is a compelling reason (such as a

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serious disability, a pending divorce, potential financial difficulty, a serious tax disadvantage in making the distribution, or a similar substantial cause) to postpone a djstribution, in complete or partial termination of a Trust, the Trustee shall continue to hold and administer that beneficiary's Trust (or portion of the Trust) for his or her benefit. Income of the beneficiary's Trust shall be added to principal, and the Trustee shall pay to or apply for the benefit of the beneficiary as much of the beneficiary's Trust as the Trustee in the Trustee's discretion considers necessary for the beneficiary's proper support, health, maintenance, and education, after taking into consideration to the extent the Trustee considers advisable any of the several beneficiaries' other income or resources known to the Trustee. When the beneficiary attains age 18, or when in the Trustee's discretion the compelling reason for postponement of distribution ceases to exist, the Trustee shall distribute to the beneficiary his or her entire Trust.

If the beneficiary dies before attaining age 21 or while distribution has been postponed, his or her Trust shall be distributed to his or her then-living issue by right of representation.

B. If there is no issue, the beneficiary's Trust shall be distributed to the Settlor's then-living issue by right of representation. However, if any part of the Trust to be distributed would otherwise be distributed to a person for whose benefit a Trust is then being administered under this instrument, that part shall be added instead to that Trust and shall thereafter be administered according to its terms.

C. If at any time before full distribution of the Trust estate, a11 the Settlor's issue are deceased and no other disposition of the property is directed by this instrument, the remaining portion of the Trust shall then be distributed one half to Husband's heirs and one half to wife's heirs, their identities and respective shares to be determined as if the Settlor and his or her parents had died immediately before the happening of the event requiring distribution and accoriling to the laws of the State of Indiana then in effect relating to the succession of separate property not acquired from a parent, grandparent or predeceased spouse. Tf, however, the Settlor shall not be then living but leave issue then living, those issue shall take by right of representation the share their ancestor would have taken had he or she been then living.

D. Tax Allocation. The Settlor intends that neither the Settlor nor his spouse shall have any powers or discretion that shall cause any portion of the Trust estate to be includable in either of their estates for federal estate tax purposes, and the provisions of this Tmst shall be interpreted accordingly.

If it is finally determined that any portion of the Trust estate \Vill be included in the estate of either the Settlor or the Settlor's spouse under Internal Revenue Code section 2035 or section 2036, or otherwise, then subject to any other provision in decedent's will or other governing instrument, all the taxes allocable on a pro-rata basis to the assets of the Trust estate

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shall be recoverable from the Trust estate, and each beneficiary's interest in this Trust shall be reduced proportionately.

ARTICLE THREE : BE NEFJCIARY 'S RIGHT OF WITHDRAWAL

3.01 Right to Withdraw Gifts. So long as the Settlor is living, the Beneficiary shall have the right to withdraw any gift made to the Trust in accordance with the follo\\<ing provisions:

(a) On receiving any contribution to the Trust that is subject to a right of withdrawal under this article, the Trustee shall, vv1thin ten days of such receipt, provide the Beneficiary entitled to exercise the power of withdrawal (on behalf of either themselves or an incompetent) with written notice of (a) the amount of the contribution and (b) the provisions of this article.

(b) Each of the Settlor's children who are then living may \Vithdraw a fraction of the gift equal to one divided by the number of the Settlor's children who are then living, or any portion of that fraction; provided, however that the aggregate amounts that each of the Settlor's children may withdraw during any calendar year from the gifts to the Trust from any one donor shall not exceed the amount which may from time to time be specified for gift tax exclusion in lntemal Revenue Code Section 2503(b), as amended, for gifts from one donor to one donee (the "annual exclusion amount") per person; and provided further that the aggregate amount that each of the Settlor's children may withdraw during any calendar year from the gifts to the Trust from all donors shall not exceed the amount that may from time to time be specified in Internal Revenue Code Section 2041 (b )(2), as amended, as the maximum amount of property with respect to which the lapse of a general power of appointment will not be deemed a release of a general power of appointment (the "non-taxable amount").

(c) The power of any person to withdraw a gift as specified in this section must be exercised, if at all, by electing to do so in an instrument in writing delivered to the Trustee at any time during the remainder of the calendar year during which the gift is made or until the expiration of 45 days after the Trustee receives the gift, whichever shall occur last.

(d) The right of any person to withdraw a gift as specified in this section is noncumulative. If any person does not \Vithdraw the full ammmt of the gift or gifts that the person is entitled to withdraw Vvithin the time limit specified for exercise of the right, the right to withdraw the amount not withdrawn shall lapse and may not be exercised after the time limit specified.

(e) If any person who has a right to withdraw a gift as specified in this section is a minor or is otherwise subject to any legal incapacity, the Trustee shall give the written notice required to be given as specified in this section to the guardian or conservator of that person, and the

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guardian or conservator may make the withdrawal on behalf of that person. Any property delivered to a guardian or conservator shall be held by the guardian or conservator for the benefit and use of that person.

3.02 Gift-Tax Exclusion. To compute the annual gjft-tax exclusion available to the donor, the Trustee and the holder of the power of withdrawal shall assume that the donor and the donor's spouse will file the consent described in Internal Revenue Code Section 2513, if such a consent would increase the annual exclusion available to the donor. The cumulative amount of gifts made to the Trust estate by a donor shall be determined in the same manner that the amount would be determined for the donor's federal gift tax purposes.

3.03 Gifts Not Subject to Withdrawal. Notwithstanding the foregoing provisions of this article, any gift that is accompanied by a written notice from its donor to the effect that the gift shall not be subject to \vithdrawal under the provisions of this article shall be excluded from consideration under this article, as though the gift had not been made.

3.04 Satisfaction of Withdrawal Demand. The Trustee may in the Trustee's ciiscretion satisfy the demand in cash or in kind; in kind ciistributions need not be pro rata. Such payment shall be made from the donor's gift for that year allocable to the beneficiary's Trust. To the extent that this right to demand distribution has not been exercised by the end of the period described in the first paragraph of this article, it shall lapse, and the beneficiary shall have no further right of demand over the same contribution. This demand shall be exercisable only by a written instrument, delivered to the Trustee within the period provided.

3.05 Liability of Trustee. On receipt of demand for withdrawal, the Trustee shall pay the part of the trust for which demand is made to the beneficiary of that trust. The Trustee shall not be liable to any beneficiary, or to any legal heir of the Settlor(s) or of the beneficiary, for making distribution directly to a beneficiary, whether or not such beneficiary shall have reached his or her majority or becomes competent

ARTICLE FOUR : T.RUSTEE'SPOWERS

To carry out the provisions of the Trusts created by this instrument, the Trustee shall have the following powers besides those now or later conferred by law:

4.01 Investments. To invest and reinvest all or any part of the Trust estate in any common or preferred stocks, shares or investment Trusts and investment companies, bonds, debentures. mortgages, deeds of Trust, mortgage participations, notes, real estate, or other property the Trustee in the Trustee's discretion selects. It is the Settlor's express desire and intention that the Trustee shall have full power to invest and reinvest the Trust funds vvithout being restricted to forms of investment that the Trustee may otherwise be permitted to make by law and to consider

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individual investments as part of an overall investment strategy in the manner that, under the circumstances then prevailing, persons of skill, prudence, and diligence acting in a similar capacity and familiar with those matters would use, in the conduct of an enterprise of a similar character and with similar aims, to attain the Settlor's goals under this instrument, including any common Trust fund administered by the Trustee.

4.02 Retain Property. To continue to hold any property including shares of the Trustee's own publicly traded stock and to operate at the risk of the Trust estate any business that the Trustee receives or acquires under the Trust as long as the Trustee in the Trustee's discretion considers advisable, including the power to retain, purchase, or otherwise acquire under productive property, and to abandon any property or interest in property belonging to the Trust when, in the Trustee's discretion, the abandonment is in the best interests of the Trust and its beneficiaries.

4.03 Manage Securities. To have all the rights, powers, and privileges of an owner of the securities held in the Trust, including, but not limited to, the powers to vote, give proxies, and pay assessments; to participate in voting Trusts, pooling agreements, foreclosures, reorganizations, consolidations, mergers, and liquidations, and incident to such pruticipation, to deposit securities with and transfer title to any protective or other committee on any tenns the Trustee in the Trustee's discretion considers advisable; and to exercise or sell stock options, stock subscription, or conversion rights.

4.04 Authorize Nominee Holdings. To keep any stock, secunt1es, or other property belonging to these Trusts registered or recorded in the name of these Trusts or in the Trustee's individual name, as nominee, ·without disclosing this Trust, or in the individual name of any person, firm, or corporation, including any bank, Trust company, or securities brokerage house, as nominee, without disclosing this Trust, and to hold securities unregistered in such condition that ownership will pass by delivery.

4.05 Manage Trust Property. To manage, control, grant options on, sell (for cash or on deferred payments), convey, exchange, partition, divide, improve, and repair Trust property.

4.06 Lease Trust Property. To lease Trust property for terms 'AFithin or beyond the tenn of the Trust for any purpose, including exploration for and removal of gas, oil, and other minerals; and to enter into community oil leases and pooling and unitization agreements.

4.07 Borrow Money. To borrow money and to encumber Trust property by mortgage, deed of Trust, pledge, or otherwise, for the debts of the Tmst or the joint debts of the Trust and a co­ovroer of the property in which the Trust has an interest.

4.08 Adjust for Tax Consequences. To take any action and to make any election, in the Trustee's discretion, to minimize the tax liabilities of this Trust and its beneficiaries.

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When determining whether to distribute income or corpus authorized by this instrument and to whom to make the distribution, to consider the tax consequences to the Trust and to the beneficiaries to whom distribution may be made.

4.09 Pay Death Taxes. Except as othen.vise specifically provided in this instrument or in the Settlor's will, to pay federal estate taxes imposed on or by reason of the inclusion of any portion of the Trust estate in the gross taxable estate of the Settlor under the provisions of any federal tax law and to charge to, pro-rate among, or recover from the Trust estate or the persons entitled to the benefits under these Trusts as and to the extent provided by any applicable tax law or proration statute. Except when otherwise specifically provided, state death taxes shall be paid and charged to the Trust estate or deducted and collected as provided by law.

4.10 Initiate, Defend, and Settle Litigation. To initiate or defend, at the expense of the Trust, any litigation relating to the Trust or any property of the Trust estate the Trustee considers advisable, and to compromise or otherwise adjust any claims or litigation against or in favor of the Trust.

The Trustee's powers under this paragraph shall apply during the term of the Trust and after distribution of Trust assets. The Trustee shall have no obligations or duties, however, for any litigation or claims occmTing after distribution of Trust assets, unless the Trustee is adequately indemnified by the distributees for any loss connected with these matters.

4.11 Insure. To carry insurance of the kinds and in the amounts the Trustee considers advisable, at the expense of the Trust, to protect the Trust estate personally against any hazard.

4.12 Distribute Trust Estate. To partition, allot and distribute the Trust estate on any division or partial or final distribution of the Tmst estate, in undivided interests or in kind, or partly in money and partly in kind, at valuations determined by the Trustee, and to sell any property the Trustee considers necessary for division or distribution. In making any division or partial or final distribution of the Trust estate, the Trustee is not obligated to make a prorata division, or to distribute the same assets to beneficiaries similarly situated. The Trustee may in the Trustee' s discretion make a nonprorata division between Trusts or shares and nonprorata distributions to the beneficiaries if the respective assets allocated to separate Trusts or shares, or distributed to the beneficiaries, have equivalent or propOitionate fair market values.

The income tax bases of assets allocated or distributed nonprorata need not be equivalent and may vary to a greater or lesser amount, as determined by the Trustee in the Trustee's discretion. The Trustee may make any adjustment that he or she considers reasonable.

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4.13 Purchase Bonds. To purchase bonds and to pay any premiwns connected with the purchase that the Trustee in the Trustee's discretion considers advisable, and to purchase bonds at such discount as the Trustee in the Trustee's discretion considers advisable.

4.14 Withhold Payment. To withhold from distribution, in the Trustee's discretion, at the time specified for distribution of any property in this Trust without the payment of interest, all or any part of the property, if the Trustee detennines in the Trustee's discretion that the property may be subject to conflicting claims, to tax deficiencies, or to liabilities, contingent or otherwise.

4.15 Lend Money. To lend money to any person, including the probate estate of or a Trust created by the Settlor, irrespective of whether the executor of such estate and the Trustee of this Trust may be the same, provided, however, any such loan shall be adequately secured and shall bear a reasonable rate of interest.

4.16 Purchase Property from Probate Estate. To purchase property at its fair market value, as determined by the Trustee in the Trustee's discretion, from the probate estate of or a trust created by the Settlor.

ARTICLE FIVE: PHYSICAL DIVISION OF TRUST NOT REQUIRED

The Trustee need not physically segregate or divide the various Trusts, except when segregation or division is required because one of the Trusts terminates, but the Trustee shall keep separate accounts for the different Trusts.

ARTICLE SIX: PROHIBITED ADMINISTRATIVE POWERS

6.01 Powers Exercised for the Primary Benefit of Settlor Prohibited. N/A

6.02 Power To Affect Beneficial Enjoyment Prohibited. N/A

ARTICLE SEVEN: POWERS RELATED TO LIFE INSURANCE POLICIES

7.01 Acquire Policies. The Trustee shall have the power to acquire in any Trust, by purchase. bequest, gift, or otherwise, one or more policies insuring the life, health, or income of any beneficiary of the Trust or any person in whom any beneficiary has an insurable interest, and to retain each policy as a part of the property of the Trust, provided, however, that so long as any policy constitutes a part of the property of the Trust, the benefits thereunder shall be payable to that Trust; to exercise all rights, powers, and discretions with respect to the acquisition, retention, disposition, and maintenance in force of each policy and all incidents of ownership in each policy that could be exercised by persons owning similar policies in their ovro right, including the following:

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A. To receive dividends or distributive shares of surplus cash, or to apply same to the payment of premiums, to purchase additional insurance, including term or paid-up insurance, or to permit the same to remain on deposit at interest with respect to the insurers;

B. To receive from the insurer or from any other lender such advances or loans on account of each policy as are available;

C. To receive disability benefits, medical payments, surrender values, proceeds of matured endowments, and other lifetime policy benefits;

D. To exercise all options, elections, rights, powers, and discretions granted in each policy or granted to policy O\\tners by practice of the insurer;

E. To sell, assign (absolutely or as collateral), pledge, or hypothecate each policy;

F. To convert each policy into an extended-term coverage contract, or into any other fonn of insurance or annuity;

G. To pay premiums on each policy as they become due, from any principal of such Trust, and to prepay for any reasonable period any premiums that may reasonably be expected to become due on the policy.

7.02 Collection of Proceeds. On receipt of proof of death of an insured, or on the prior maturity of any policy, and on receiving possession of the policies, the Trust shall use reasonable efforts to collect all sums payable on them, which sums on receipt shall become principal of the Trusts created hereunder, except that interest paid by the insurer shall become income. The Trustee may exercise any settlement options under any policy. The Trustee may compromise, arbitrate, or otherwise adjust claims on any of the policies. The receipt of the Trustee to the insurer shall be a full discharge on the insurer, and the insurer shall not be required to see to the application of the proceeds.

7.03 Liability of Trustee. The Trustee shall not be responsible for any acts or omissions of the insured in connection with any policy and shall not be required to prosecute any action to collect any insurance or to defend any action relating to any policy unless indemnified in manner and amount :sati:sfactory to lh~ Trustt:t:.

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A R TIC L E EIGH T: PA YMENT O F I NSU R ANCE P R EMIUMS

The Trustee shall not be required to pay premiwns, assessments, or other charges on any life insurance policy purchased by, made payable to, or transferred to any Trust created hereunder, or othen·vise to keep any of them as binding contracts of insurance.

If at any time during the Settlor's lifetime, the Settlor fails to adequately provide for the payment of premiums due on all life insurance policies owned by any Trust created under this instrument of which the Trustee has received actual notice, the Trustee shall notify the Settlor in writing of the amount necessary to pay these premiums, and if the Settlor or any other person fails to advance sufficient ftmds to pay the premiums, the Trustee is authorized to take any action concerning the policy or policies as the Trustee considers necessary or advisable, including but not limited to receiving from the respective insurers or from any bank or other lender such advances or loans on account of any such policies as may be available to maintain the policies.

The Trustee may also convert the policy into an extended term coverage contract, supplementary contract, fully or reduced paid-up contract, or into any other form of insurance or annuity. However, the Trustee shall not use the income of any Trust created under this instrument in any way to pay premiums on life insurance policies held by the Trust on the life of the Settlor.

ARTICLE NINE: SUCCESSOR TRUSTEE

9.01 Appointment of Successor Trustees. If the office of Trustee becomes vacant by reason of death, incapacity, or any other reason, and no successor trustee or Co-Trustees have been designated under any other provisions of this Trust instrument, then PETER ALEXANDER of Hamilton County, Indiana, shall be successor Trustee. If PETER ALEXANADER fails to qualify, dies, resigns, becomes incapacitated, or otherwise ceases to serve as Trustee of a Trust created under this Trust Agreement, and the Grantor fails to appoint a successor Trustee within 60 days of such an event, then SUSIE ALEXANDER shall become Trustee.

9.02 Appointment of Co-Trustee. In the event that the Trust corpus shall exceed Five Hundred Thousand and No/100ths Dollars ($500,000.00) at any point in time, a second Trustee position shall be created and the Trustees shall serve as Co-Trustees. Subject to Section 9.03, if at any time the conditions of this Section 9.02 are met, then SUSIE ALEXANDER of Hamilton County, lndjana, shall act as the first Co-Trustee. This power may be exercised only by both Co-Trustees, actingjointly.

9.03 Replacement of Co-Trustee. If, at any time when two or more persons or entities are serving as Co-Trustees, any one or more (but less than all) of them are unable or unwilling for any reason to continue to serve as Co-Trustees, and no successor Co-Trustee has been designated under any other applicable provision of this Trust instrument, a new Co-Trustee shall be appointed from the following persons, in order of priority indicated:

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First, SUSIE ALEXANDER, of Hamilton County, Indiana;

If no new co-trustee is appointed, the remaining co-trustee or co-trustees shall have fulJ power to act as trustee or co-trustees and to continue the trust administration.

9.04 Power to Remove and Replace Trustee. The Settlor shall have the power to remove a Trustee at any time. When a Trustee is removed or at any other time a Trustee ceases to act, the Settlor may appoint a substitute Trustee who shall immediately serve as the Trustee, with any otherwise-nominated successor Trustee not taking office until the substitute Trustee ceases to act.

9.05 Resignation of Trustee. The Trustee may resign as Trustee at any time and appoint a successor Trustee, provided neither the Settlor nor the Settlor's spouse may be a Trustee or Co­Trustee of this Trust and no more than half of the number of Trustees acting from time to time may be related or subordinate parties to the Settlor or subservient to the Settlor's wishes within the meaning of Internal Revenue Code Section 674(c) or any successor to that section. This power may be exercised or relinquished by a written instrument delivered to each person to whom payment may then be made in the Trustee' s discretion.

9.06 Liability of Trustee. No Trustee named in this instrument or designated as authorized in this instrument shall be liable to any beneficiary or to any heir of the Settlor for the Trustee's acts or failure to act, except for wilful misconduct or gross negligence.

No Trustee shall be liable or responsible for any act, omission, or default of any other Trustee, provided the Trustee has no knowledge of facts that might reasonably be expected to put the Trustee on notice of it.

9.07 Predecessor Trustees. No successor Trustee shall be liable for any act, omission, or default of a predecessor Trustee. Unless requested in writing within sixty (60) days of appointment by an adult beneficiary of the Trust, no successor Trustee shall have any duty to investigate or review any action of a predecessor Trustee. The successor Trustee may accept the accounting records of the predecessor Trustee shov.r.ing assets on hand without further investigation and without incurring any liability to any person claiming or having an interest in the Trust.

9.08 Trustee's Bond. No bond shall be required of any person named in this instrument as Trustee, or of any person appointed as Trustee in the manner specified in this instrument, for faithful performance of his or her duties as Trustee.

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9.09 Compensation. The Trustee shall receive reimbursement for all reasonable out of pocket expenses and a maximum of One Thousand Dol1ars ($1,000) per year for the Trustee's services after the Trust receives .the beneficiary proceeds from a life insurance policy. The Trustee's compensation shall not exceed a total of Five Thousand Dollars ($5,000) cumulatively over the life of the Trust.

ARTICLE TEN: NOTICE TO TRUSTEE OF EVENTS AFFECTING INTERESTS

10.01 Written Notice. Unless the Trust has received actual \Witten notice of the occurrence of an event affecting the beneficial interests of this Trust, the Trustee shall not be liable to any beneficiary of this Trust for a distribution made as though the event had not occurred, provided this clause shall not exculpate the Trustee from liability arising from the nonpayment of death or generation-skipping taxes that may be due on occurrence of an event affecting the beneficia] interests in this Trust.

10.02 Additions to Trust. Other property acceptable to the Trustee may be added to these Trusts by any person, by the will(s) or codicil(s) of the Settlor, by the proceeds of any life insurance, or otherwise.

10.03 Perpetuities Savings Clause. Unless sooner terminated in accordance with other provisions of this instrument, all Trusts created under this instrument shall terminate 21 years after the death of the last survivor of the Settlor and of the Settlor's issue living on the date of this instrument. The principal and undistributed income of a terminated Trust shall be distributed to the income beneficiaries of that Trust in the same proportion that the beneficiaries are entitled to receive income when the Trust terminates. If at the time of termination the rights to income are not fixed by the terms of the Trust, distribution under this clause shall be made, by right of representation, to the persons who are then entitled or authorized, in the Trustee's discretion, to receive distributions from the Trust.

10.04 Spendthrift Provision. No interest in the principal or income of any Trust created under this instrument shall be anticipated, assigned, encumbered, subjected to creditor's claim or legal process before actual receipt by the beneficiary.

If the creditor of any beneficiary who is entitled to any distributions from a Trust established under this instrument attempts by any means to subject to the satisfaction of his or her claim that beneficiary's interest in any distribution) then, notwithstanding any other provision in this instrument, until the release of the writ of attachment or garnishment or other process, the distribution set aside for such beneficiary shall be disposed of as follows:

a. The Trustee shall pay to or apply for the benefit of such beneficiary all sums the Trustee determines to be necessary for the reasonable health, education (including study at an

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institution of higher learning or vocational school), and support of the beneficiary according to his or her accustomed mode of life; and

b. The portion of the distribution that the Trustee determines to exceed the amount necessary for the health, education (including study at an institution of higher learning or vocational school), and support shall in the Trustee's discretion either be added to and become principal in whole or in part or be paid to or applied for the benefit of the other beneficiaries then entitled to receive payment from any Trust established under this instrument, in proportion to their respective interests in the Trust estate; or if there are no other beneficiaries, the excess income may be paid to or applied for the benefit of the person or person presumptively entitled to the next eventual interest, in proportion to their respective interests in the Trust

10.05 Education. Whenever provision is made to pay for the education of a beneficiary, the term "education"' shall include education at public or private pre-school, elementary, junior high, middle, or high schools, including boarding schools; undergraduate, graduate, and postgraduate study in any field, whether or not of a professional character, in colleges, universities, or other institutions of higher learning; specialized formal or informal training in music, the stage, the handicrafts, or the arts, whether by private instruction or otherwise; and formal or informal vocational or technical training, whether through programs or institutions devoted solely to vocational or technical training, or othervv:ise, if in the Trustee's discretion it is pursued to advantage by the beneficiary at an institution of the beneficiary's choice. In determining payments to be made to the beneficiary for education, the Trustee shall consider the beneficiary's reasonably related living and traveling expenses.

10.06 Issue and Children. In this instrument, the term "issue" refers to lineal descendants of all degrees, and the terms "child," "children," and "issue" include adopted children who were minors at the date of adoption.

The terms ''issue," "child," and "children" include a child born out of wedlock if a parent-child relationship existed between the child and his or her deceased parent, determined under Indiana law.

10.07 Gender and Number. In this instrument, in all matters of interpretation, whenever necessary to give effect to any prO\Iision of this instrument, the masculine shall include the feminine and neuter and vice versa, the singular shall include the plural, and the plural shall include the singular.

10.08 Choice of Law. The validity ofthis Trust for real property shall be governed by the law of the state of its situs. The validity of this Trust for personal property, and the construction, interpretation, and administration of this Trust, including Trustees' compensation, for all

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property shalJ be governed by the law of the state of Indiana in force from time to time regardless of whether the situs or place of admjnistration of the Trust changes.

10.09 Severability Clause. If any provision of this Trust instrument is unenforceable, the remaining provisions shall nevertheless be carried into effect.

ARTICLE ELEVEI\\; NAMES OF TRUSTS

The Trusts created in this instrument may be referred to collectively as the

MARTIN E. ·wAITE Irrevocable Life Insurance Trust established September 1 1, 20 I 3, and each separate Trust created in this instrument may be referred to specifically by adding the name of its beneficiary to that name.

Executed at Nt:h/.L$tJi./{L, Indiana, on September 2-D , 2013.

I certify that l have read the foregoing declaration of Trust and that it correctly states the terms and conditions under which the Trust estate is to be held, managed, and disposed of by the Trustee. I approve the declaration of Trust in all particulars and request that the Trustee execute it.

Dated: Sept .;(t) 2013 ~-?.dd 1

Se--tt-lor MARTIN E. WAITE, Settlor

Page 18

EXHIBIT A

SCHEDULE OF ASSETS TRANSFERRED TO TRUST

The following is a list of the Trust assets, showing whether the property was the separate or community property of the Settlor immediately before its transfer to the Trust.

Description of Property

Any and all interest Settlor has v.ith respect to the following persona) property: Source

l. _____ Insurance policy number _ _ _ _

Page 19

ALL-PURPOSE CERTIFICATE

STATE OF INDIANA ) ) ss

COUNTY OF HAMILTON )

On Sept.:lo, 2013, before me, s~tJI?j S_. i.oo.mt.S , a Notary Public in and for said State, personally appe ed PAMELA K. WAITE, personally known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity, and that by his signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.

ALL-PURPOSE CERTIFICATE

STATEOFINDIANA ) ) ss

COUNTY OF HAMILTON )

On Sept 20, 2013, before me, ~~ .:;;: ~·s , a Notary Public in and for said State, personally appeared ARTIN E. WAITE, personally known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity, and that by his signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.

W11NESS my hand and official seal.

.t'~ IRS DEPARTMENT OF THE TREASURY lttllYfl IN'I'ERNAL REVENUE SERVICE

CINCINNATI OH 45999-0023

ftf~.RTIN E WAITE PAMELA K WAITE 'ITEE 77 PALMER DR NOBELSVILLE, IN 46062

Date of this notice: 09-12-2013

Employer Identification Number: 46-7002141

Form: SS- 4

Number of this notice : CP 575 B

For assistance you may call us at: 1-800-829-4933

IF YOU WRITE, ATIACH THE STUB AT THE END OF THIS NOTICE.

WE ~.SSIGNED YOU AN EMPLOYER IDENTIFICATION NUMBER

ThmL~ you for applying for an Employer Identification Number (EIN) . We assigned you EIN 46-7002141. This EIN will identify your estate or trust . If you are not the applicant, please contact the individual who is handling the estate or trust for you. Please keep this notice in your permanent records.

When filing tax documents, payments, and related co=espondence, it is very i mportant that you use your EIN and complete name and address exactly as shown above. Any variation may cause a delay in processing, resulc in incorrect informat ion in your account, or even cause you to be assigned more than one EIN. If the information is not co=ect as shown above, please make the co=ection using the attached tear off stub and return it to us .

Based on the information received from you or your representative, you must file the following form (s ) by the date (s ) shown.

Form 1041 04/15/2014

If you have questions about the form(s ) or the due date(s ) shown, you can call us at the phone number or write to us at the address shown at the top of this notice. If you need help in determining your annual accounting period (tax year), see Publication 538, Accounting Periods and Methods.

We assigned you a tax classification based on information obtained from you or your representative. It is not a legal determination of your tax classificati on, and is not binding on the IRS. If you want a l egal determination of your tax classification, you may request a private letter ruling from the IRS under the guidel ines in Revenue Procedure 2004- 1, 2004 - 1 I .R.B. 1 (or superseding Revenue Procedure for the year at issue) . Note: Certain tax classification elections can be requested by filing Form 8832, Enti~ Classification Election. See Form 8832 and i ts instructions for additional information.

To obtain tax forms and publications, including those referenced in this notice, visit our Web site at www.irs.gov. If you do not have access to the Internet, call 1 - 800-829-3676 (TIY/TDD 1-800-829-4059) or visit your local IRS office.

(IRS USE ONLY) 575B 09- 12-2013 MART B 9999999999 SS-4

IMPORTANT REMINDERS:

* Keep a copy of this notice in your pennanent records . This notice is issued only one time and the IRS will not be able to generate a duplicate copy for you. You may give a copy of this document to anyone asking for proof of your EIN.

* Use this EIN and your name exactly as they appear at the top of this notice on all your federal tax forms.

* Refer to this EIN on your tax-related correspondence and documents.

If you have questions about your EIN, you can call us at the us at the address shown at the top of this notice . If you write, at the bottom of this notice and send i t along with your letter. write us, do not complete and return the stub.

phone number or write to please tear off the stub If you do not need to

Your name control associated with this EIN is MART. You will need to provide t his information, along with your EIN, i f you f ile your returns electronically . -

Thank you for your cooperation.

Keep this part for your records . CP 575 B (Rev. 7-2007)

Return this part with any correspondence so we may identify your account . Please correct any errors in your name or address .

CP 575 B

Your Telephone Number Best Time to Call ( ) -

INTERNAL REVENUE SERVICE CINCINNATI OH 45999-0023 I,J,,J,J,J,J,J,,I,J,,J,I .. II,,,JJ .... ,I,J,,IJ,J,J,,I

9999999999

DATE OF ~S NOTICE: 09-12-2013 EMPLOYER IDENTIFICATION NUMBER : 46 - 7002141 FORM: SS-4 NOBOD

MARTIN E WAITE PAMELA K WAITE TTEE 77 PALMER DR NOBELSVILLE, IN 46062