Subject to Section 205 [46-11-205 N.M. Stat. Ann.] of the Uniform Powers of Appointment Act, and unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is:

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A. presently exercisable; B. exclusionary; and

C. except as otherwise provided in Section 204 [46-11-204 N.M. Stat. Ann.] of the Uniform Powers of Appointment Act, general.