MARVIN MANDEL, Governor                            57

part thereof, renew, or extend any obligation secured by the en-
cumbrance, or convey or transfer the assets to the creditor in satis-
faction of his security interest, in whole or in part, whether or not
the holder of the encumbrance has filed a claim, if any such act ap-
pears to be in the best interests of the estate;

(t) regardless of any contrary provision in the will, to execute,
upon the written demand of the owner of a redeemable leasehold or
subleasehold estate, a full and valid conveyance of the reversion or
subreversion held by the estate;

(u) release or terminate any mortgage or security interest, if
the obligation secured by the mortgage or security interest was fully
satisfied during the decedent's lifetime or during the administra-
tion of the estate;

(v) make partial distributions, in cash, in kind, or both, from
time to time during the administration;

(w) agree to deposit any of the assets of the estate with any fi-
nancial institution in such a manner that the assets cannot be with-
drawn or transferred without (1) the written consent of the surety
on the bond or (2) an order of Court.

7 402. Extended powers.

(a) Enumeration. A personal representative authorized pur-

suant to subsection (b) of this Section to exercise the extended

powers contained in this Section may, in addition to the powers con-
tained in Section 7-401, without application to, the approval of, or
the ratification by the Court:

(1) invest in, sell, mortgage, exchange or lease any property;

(2) borrow money for the purpose of protecting property and

pledge property as security for such loan;

(3) effect a fair and reasonable compromise with any debtor or

obligor; or extend or renew any obligation owing to the estate; and

(4) deliver copies of any inventory or account required by this

Article to all interested persons and file in the proceeding, in lieu of
such inventory or account, a certificate of such delivery. Such cer-
tificate shall include a statement of whether the inventory or account

is partial or final.

(b) How authorized. Extended powers may be exercised by the

personal representative to the extent specifically authorized:

(1) by will, and a statement in a will that the personal repre-

sentative may act without application to any Court shall be con-

strued to confer all of the extended powers contained in this Section

to which such statement in the will is applicable; or

(2) by written authorizations sig