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Durable Power of Attorney
1. Nomination of Attorney-in-Fact. I, [name], residing at [address], in the County of ---------- State of ---------- hereby designate [name], whose address is ---------- if living, willing, and able to serve, as my attorney-in-fact in the manner hereinafter defined and in accordance with the laws of [state]. If [name] is unable or unwilling to act, then I designate [name] Bank, whose address is ---------- or its successor, to so act for me provided it accepts this appointment.
2. Attorney-in-Fact's Powers. My attorney-in-fact, as fiduciary, shall have all the powers of absolute ownership of all of my assets and liabilities of every kind and character, whether located within or without [state], including the power to convey or encumber any real property owned by me and all other powers granted to
attorneys-in-fact and trustees by the laws of [state]. My attorney-in-fact shall not have the power to make, amend, alter, or revoke any estate planning or testamentary documents executed by me before or after this power of attorney became operative or to make any gifts of property owned by me.
3. Duration of Power of Attorney. This power of attorney shall not be revoked or in any way affected by my subsequent incompetence, disability, which shall include the inability to effectively manage my property and affairs for reasons such as mental illness, mental deficiency, physical illness or disability, advanced
age, chronic use of drugs, chronic intoxication, confinement, detention, or disappearance.
4. Revocation of Power of Attorney. Notwithstanding any uncertainty as to whether I am alive or dead, this power of attorney shall continue in effect, to the extent permitted by law, until revoked or terminated. While competent, I may revoke this power of attorney by written notice to my attorney-in-fact and successor attorney-in-fact and by taking such other action as may be required by the laws of [state]. This power of attorney shall terminate upon receipt of written notice or actual knowledge of my death by the party designated and qualified to then act as my attorney-in-fact.
5. Reliance of Third Parties So long as neither my attorney-in-fact nor any person with whom my attorney-in-fact is dealing pursuant to this power of attorney has received actual knowledge or written notice of revocation or termination of this power of attorney, by death or otherwise, my attorney-in-fact and such persons dealing with my attorney-in-fact, shall be entitled to rely upon this power of attorney.
6. Indemnification of Attorney-in-Fact. My estate shall hold harmless and indemnify my attorney-in-fact from any and all liability for acts done in good faith.
7. Compensation. My attorney-in-fact shall be reimbursed for all costs and expenses reasonably incurred, and shall receive at least annually, without court approval, such reasonable compensation for services performed as attorney-in-fact as is customarily charged by the trust departments of banks in the community for like services performed as attorney-in-fact or custodian or committee of the estate of an incompetent.
8. Governing Law. This power of attorney shall be governed by and interpreted in accordance with the laws of [state].