(A)The terms BENEFICIARY and BENEFICIARY MUNICIPALITY, as used in this instrument, denote the incorporated City of Holdenville, State of Oklahoma, and likewise shall denote any municipal entity which hereafter may succeed the incorporated city as the governing authority of the territory lying within the municipal boundaries of the incorporated city on the effective date of this instrument.
(B)The beneficiary shall have no legal claim or right to the trust estate, or to any part thereof, against the trustees or anyone holding under them; neither shall the beneficiary, as such, have any authority, power or right whatsoever to do or transact any business whatsoever for, or on behalf of, or binding upon, the trustees or the trust estate; neither shall the beneficiary have the right to control or direct the actions of the trustees in respect of the trust estate, or any part thereof; nor shall the beneficiary have any right to demand or require any partition or distribution of the trust estate, or any part thereof. The beneficiary shall be entitled solely to the benefits of this trust, as administered by the trustees hereunder, and at the termination of the trust, as provided herein, and then only, the beneficiary shall receive the residue of the trust estate. Notwithstanding anything in the aforesaid appearing to be to the contrary, no provision in this instrument and/or of the acceptance of beneficial interest thereunder by the governing body of the said beneficiary, limiting, restricting or denying any authority, power, or right of the beneficiary of the trust in relation to the administration thereof is intended, or shall be construed or interpreted, to effect a surrender, or to attempt to effect a surrender, of any of the sovereign governmental powers of the state of Oklahoma or of the beneficiary municipality; but any and all provisions of this trust instrument are intended, and shall be applied, to relate solely and only to the proprietary rights and property interests of the said beneficiary, in trust, as distinguished from its sovereign governmental powers and authority. Moreover, it further is agreed that nothing contained in this declaration of trust and/or in the acceptance of beneficial interest thereunder shall be construed, interpreted or applied as intending to grant, or to grant to the trustees hereunder an exclusive franchise in relation to any powers, rights or authority of the trustees under this trust instrument.