The undersigned hereby declare and covenant, between themselves and unto the state of Oklahoma and the beneficiary hereinafter described, that they and their successors do and will hold, receive and administer the trust estate hereinafter described, as trustees of a public trust under and pursuant to the laws of the state of Oklahoma now in force and effect (generally, but not exclusively, 60 O.S. §§ 176 to 180, inclusive, and the Oklahoma trust act), solely for the use and benefit of the beneficiary for the public purposes and functions hereinafter set forth, in the manner provided in this instrument or, in the absence of applicable provision herein, then in the manner now provided by law.