The correct answer is D. The court has the discretion to order specific performance or damages, but such remedies are subject to the equitable doctrine of laches. This doctrine bars claims where there has been an unreasonable delay in asserting one's rights, based on the maxim "equity aids the vigilant, not those who sleep on their rights." The trustees' inaction for ten years would likely constitute laches, thus precluding them from obtaining either specific performance or damages due to the delay. 

Key Point: The equitable doctrine of laches prevents claims where there has been an unreasonable delay in seeking a remedy. Trustees must act promptly to enforce trust terms and avoid being barred from equitable relief.