210                                          LAWS OF MARYLAND                           [Ch. 11

TAX THE TRUSTEE MAY USE AS SUCH MARKET VALUE ANY VALUE
FINALLY DETERMINED FOR THE PURPOSES OF SUCH TAX;

(3)   "REMAINDERMAN" MEANS ANY PERSON ENTITLED
TO PRINCIPAL, INCLUDING INCOME WHICH HAS BEEN ACCUMULATED
AND ADDED TO PRINCIPAL;

(4)    "TRUSTEE" MEANS AN ORIGINAL TRUSTEE AND
ANY SUCCESSOR OR ADDED TRUSTEE. [[TRUSTEE.]]

14-202. ADMINISTRATION OF FUNDS.

(A) A TRUST SHALL BE ADMINISTERED WITH DUE REGARD
TO THE RESPECTIVE INTERESTS OF INCOME BENEFICIARIES AND
REMAINDERMEN. A TRUST IS SO ADMINISTERED WITH RESPECT
TO THE ALLOCATION OF RECEIPTS AND EXPENDITURES IF A
RECEIPT IS CREDITED OR AN EXPENDITURE IS CHARGED TO
INCOME OR PRINCIPAL OR PARTLY TO EACH:

(1)   IN ACCORDANCE WITH THE TERMS OF THE TRUST
INSTRUMENT, NOTWITHSTANDING CONTRARY PROVISIONS OF THIS
[[ARTICLE]] SUBTITLE;

(2)   IN THE ABSENCE OF ANY CONTRARY TERMS OF
THE TRUST INSTRUMENT, IN ACCORDANCE WITH THE PROVISIONS
OF THIS [[ARTICLE]] SUBTITLE; OR

(3)   IF NEITHER OF THE PRECEDING RULES OF
ADMINISTRATION IS APPLICABLE, IN ACCORDANCE WITH WHAT IS
REASONABLE AND EQUITABLE IN VIEW OF THE INTERESTS OF
THOSE ENTITLED TO INCOME AS WELL AS OF THOSE ENTITLED TO
PRINCIPAL, AND IN VIEW OF THE MANNER IN WHICH MEN OF
ORDINARY PRUDENCE, DISCRETION AND JUDGMENT WOULD ACT IN
THE MANAGEMENT OF THEIR OWN AFFAIRS.

(E) IF THE TRUST INSTRUMENT GIVES THE TRUSTEE
DISCRETION IN CREDITING A RECEIPT OR CHARGING AN
EXPENDITURE TO INCOME OR PRINCIPAL OR PARTLY TO EACH, NO
INFERENCE OF IMPRUDENCE OR PARTIALITY ARISES FROM THE
FACT THAT THE TRUSTEE HAS MADE AN ALLOCATION CONTRARY TO
A PROVISION OF THIS [[TITLE]] SUBTITLE,

14-203. INCOME AND PRINCIPAL; CHARGES GENERALLY.

(A) INCOME IS THE RETURN IN MONEY OR PROPERTY
DERIVED FROM THE USE OF PRINCIPAL, INCLUDING RETURN
RECEIVED AS:

(1)     RENT OF REAL OR PERSONAL PROPERTY,
INCLUDING GROUND RENTS AS WELL AS SUMS RECEIVED FOR
CANCELLATION OR RENEWAL OF A LEASE;

(2)    INTEREST ON MONEY LENT, INCLUDING SUMS
RECEIVED AS CONSIDERATION FOR THE PRIVILEGE OF PREPAYMENT