In the management of real property a fiduciary may: 1. Improve, manage, protect and subdivide any real property; 2. Dedicate or withdraw from dedication parks, streets, highways or alleys; 3. Terminate any subdivision or part thereof; 4. Borrow money for the purposes authorized by this section for such periods of time and upon such terms and conditions as to rates, maturities and renewals as the fiduciary deems advisable and mortgage or otherwise encumber any such property or part thereof, whether in possession or reversion; 5. Lease any such property or part thereof to commence at the present or in the future, upon such terms and conditions, including options to renew or purchase, and for such period or periods of time as the fiduciary deems advisable although such period or periods may extend beyond the duration of the trust or the administration of the estate involved; 6. Make gravel, sand, oil, gas and other mineral leases, contracts, licenses, conveyances or grants of every nature and kind which are lawful in the jurisdiction in which such property lies; 7. Manage and improve timber and forests on such property, sell the timber and forest products, and make grants, leases and contracts with respect thereto; 8. Modify, renew or extend leases; 9. Employ agents to rent and collect rents; 10. Create easements and release, convey or assign any right, title or interest with respect to any easement on such property or part thereof; 11. Erect, repair or renovate any building or other improvement on such property, and remove or demolish any building or other improvement in whole or in part; and 12. Deal with any such property and every part thereof in all other ways and for such other purposes or considerations as it would be lawful for any person owning the same to deal with such property either in the same or in different ways from those specified elsewhere in this section.
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