7 Stipulation and Agreement of Submission of Agreed Facts. SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK 8 THE HANOVER BANK, as Trustee under an Agree ment made by Tessie A. Cohn and James A. Cole dated April 28, 1931, Petitioner, – against JAMES A. COLE, ELEANOR S. COLE, PAMELA COLE, MONROE PERCY BLOch and JAMES A. COLE, as Respondents. 9 To the Supreme Court of the State of New York: WHEREAS, an actual controversy exists between the parties hereto and said parties are all of full ; WHEREAS, the parties hereto desire to submit to the Supreme Court of the State of New York, first department, the question in dispute between them as hereinafter stated : 10 Stipulation and Agreement of Submission Under Act and Statement of Agreed Facts. 11 Now, THEREFORE, the above named petitioner and respondents do hereby stipulate and agree upon the following statement of facts upon which the said controversy depends, and that the same be submitted to the court for the determination of their said actual existing controversy thereon, and that that submission be filed with the clerk of the County of New York pursuant to Sections 546 and 547 of the Civil Practice Act. The following facts are agreed to and submitted by the parties hereto: 1. That on the 28th day of April, 1931, Tessie A. Cohn and James A. Cole entered into a Trust Agreement in writing with The Hanover Bank (formerly known as the Central Hanover Bank and Trust Company), the petitioner, whereby the said Tessie A. Cohn and James A. Cole, assigned, transferred and delivered to the petitioner in trust certain property therein described. A copy of said Trust Agreement appears as Exhibit A of the Petition herein, and said Petition and all its Exhibits are annexed hereto and made a part hereof. 12 2. That on or about the 12th day of June, 1947, The Hanover Bank accounted as trustee of the trust created by said Trust Agreement dated April 28, 1931, for the period commencing on said date and ended on July 9, 1946 and that thereafter the said account was approved by the Supreme Court and judgment entered on the 5th day of November, 1947. 13 Stipulation and Agreement of Submission Under Act and Statement of Agreed Facts. 3. That by the provisions of Article 3 of the Trust Agreement, Tessie A. Cohn, one of the settlors under the Trust Agreement, expressly reserved to herself a power of appointment over a sum not exceeding $80,000. For the exact wording of Article 3 of the Trust Agreement, reference is made to the Trust Agreement which is annexed as Exhibit A to the Petition herein. 14 4. That by Article 15 of the Trust Agreement, the settlors Tessie A. Cohn and James A. Cole, reserved to themselves the power to revoke the said Trust Agreement during the life of the life tenant, Tessie A. Cohn, by the filing of an instrument in writing executed by Tessie A. Cohn and James A. Cole. For the exact wording of Article 15, reference is made to the Trust Agreement which is annexed as Exhibit A to the Petition herein. The said Trust Agreement was not revoked during the life of Tessie A. Cohn and was in full force and effect at the time of her death. 15 5. That Tessie A. Cohn died on August 15, 1950, and her Last Will and Testament was duly admitted to probate by the Surrogate's Court of the County of New York on the 18th day of September, 1950. 6. That Tessie A. Cohn was survived by her son, James A. Cole and her granddaughter, Pamela Cole, who are of full age and are now living. 16 Stipulation and Agreement of Submission Under Act and Statement of Agreed Facts. That said James A. Cole and Pamela Cole are parties hereto and that said James A. Cole is the sole distributee of said Tessie A. Cohn and that he and said Pamela Cole are the only persons who have an interest in the entire Trust Fund which is the res of the Trust Agreement. That said Pamela Cole is the daughter of said James A. Cole and is the sole issue of said James A. Cole and that Pamela Cole is unmarried and has no issue. 17 7. That Paragraph SEVENTH of the Will of Tessie A. Cohn contains an exercise of the power of appointment contained in Article 3 of the Trust Agreement to its fullest extent. For the exact wording of Paragraph SEVENTH of the Will of Tessie A. Cohn, reference is made to the Will of Tessie A. Cohn which is annexed as Exhibit B to the Petition herein. 18 8. That, on December 6, 1950, The Hanover Bank, out of the principal of the trust fund created by the Trust Agreement dated April 28, 1931, established a separate fund, herein called the ""$80,000. Fund”, which it is now holding as the Trustee under the said Trust Agreement pending a decision herein. 9. That simultaneously with the filing of this stipulation and agreement of submission, the peti 19 Stipulation and Agreement of Submission Under Act and Statement of Agreed Facts. tioner is filing its verified final account covering on July 3, 1946 and ending on August 16, 1950. on August 16, 1950 and end- 20 $80,000. FUND—For the period commencing on December 6, 1950 and ending on August 8, 1957. as well as the Petition on the said account. 10. That Pamela Cole, daughter of James A. Cole, was born on January 8, 1933. 21 11. That the respondent, Eleanor S. Cole is the wife of James A. Cole, and she and Monroe Percy Bloch are mentioned in the will of Tessie A. Cohn, with power to advise the Trustees upon the happening of certain contingent events. It is stipulated and agreed by and between all the parties to this agreement that there is no objection to the second and final account as filed herein by the petitioner and more fully described in paragraph 9 hereof, that the said account is approved by the parties hereto and it is stipulated and agreed that said account may be judicially settled as filed. |