(A)This trust shall be irrevocable by the trustors and shall terminate:
(1)When the purposes set forth in Section 3 of this instrument shall have been fully executed and fulfilled;
(2)In the event of the happening of any event or circumstance that would prevent the purposes from being executed and fulfilled and all of the trustees and the governing body of the municipality having beneficial interest hereunder, with the approval of the governor of the State of Oklahoma, shall agree that such event or circumstance has taken place: provided, however, that all indebtedness of the trust shall have been paid; or
(3)In the manner provided by 60 O.S. § 180;
Provided, however, that this trust shall not be terminated by voluntary action if there be outstanding indebtedness or fixed-term obligations of the trustees, unless all owners of such indebtedness or obligations, or someone authorized by them so to do, shall have consented in writing to such termination.
(B)Upon the termination of this trust, the trustees shall proceed to wind up the affairs of the trust, and, after payment of all debts and obligations out of trust assets, to the extent thereof, shall distribute the residue of the trust assets to the beneficiary hereunder as provided in Section 3(A)(7) of this instrument. Upon final distribution as aforesaid the powers, duties and authority of the trustees hereunder shall cease.