New York Statutory Power Of Attorney Short Form Page 3
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4statement below and execute a Statutory Gifts Rider
at
the
same
time
as this instrument.
Initialing the statement below
by
itself does not authorize your agent to make gifts. The
preparation
of
the Statutory Gifts Rider should be supervised
by a lawyer.
(
)
(SGR) I grant my agent authority to
make gifts in accordance
with the
terms
and
conditions
of
the
Statutory
Gifts
Rider
that
supplements this Statutory
Power of Attorney.
(i) DESIGNATION OF MONITOR(S): (OPTIONAL)
If
you
wish
to
appoint monitor(s), initial and fill in the
section
below:
(
) I wish to designate
______________________, whose
address(es)
is
(are)
____________________________________________________________,
as monitor(s). Upon the request of
the
monitor(s),
my
agent(s)
must
provide the monitor(s) with a copy of the power
of attorney and a record
of
all
transactions
done
or made
on my behalf. Third parties holding
records of such
transactions shall provide the records to the monitor(s)
upon
request.
(j) COMPENSATION OF AGENT(S): (OPTIONAL)
Your
agent
is
entitled
to
be
reimbursed
from
your
assets
for
reasonable
expenses
incurred
on
your
behalf.
If you ALSO
wish your
agent(s) to be compensated from your assets
for
services
rendered
on
your
behalf,
initial
the
statement
below.
If
you
wish
to define
"reasonable compensation", you
may do so above, under "Modifications".
(
) My agent(s)
shall be entitled
to
reasonable
compensation
for
services
rendered.
(k)
ACCEPTANCE
BY
THIRD PARTIES: I agree to
indemnify the third party
for any claims that
may
arise
against
the
third
party
because
of
reliance on this Power
of Attorney. I understand that any termination of
this Power of
Attorney, whether the result of my revocation of the Power
of
Attorney or otherwise, is not effective as to a third party until
the
third party has actual notice or knowledge of the
termination.
(l)
TERMINATION:
This Power of Attorney
continues until I revoke it or
it is terminated by my death or
other event described in section
5-1511
of the General
Obligations Law.
Section
5-1511 of the General Obligations
Law describes the manner in
which you may revoke your
Power
of
Attorney,
and
the
events
which
terminate the Power of
Attorney.
(m) SIGNATURE AND ACKNOWLEDGMENT:
In Witness
Whereof I have hereunto signed my name on ___________,20___.
PRINCIPAL signs here:
==>__________________________________________
(acknowledgment)
(n) IMPORTANT INFORMATION FOR THE AGENT:
When
you accept the authority granted under this Power of
Attorney, a
special legal relationship is created between
you
and
the
principal.
This
relationship
imposes
on you legal
responsibilities that continue
until you resign or the Power of
Attorney is terminated or revoked.
You
must:
(1)
act
according
to any instructions from the principal, or, where
there are no instructions, in the principal's best interest;
(2) avoid conflicts that would impair
your
ability
to
act
in
the
principal's best interest;
(3)
keep
the
principal's
property
separate
and distinct from any
assets you own or
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