HomeMy WebLinkAbout0314
C.R.
eO:K
5
314
<;'l", lUCi[ (1"\l!NTY. r~A.
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chargea an~ expenael Incurr!d in conne~tion with the making of
the lOAn arid the diachar.ge and rele.se of liens a~d encumbrance3,
if .nYt ah~11 be distributed forthwith by aaid Pirst Farty to
sai~ S~cond Party, It3 successors or assigns.
3. In the event that said property ie sold, the
Pirst Party, afte~ deducting all expe~.e., taxea, and o.h~x
proper cherges, shall forthwith pay ~ver the re~aining pro-
ceeds derived from such s.le to the Second Party, its successors
~raasigns. Upon the completion of-such distribltion, t.hil
tru.t and the dut ie.- and oblig at ion6 of the "ir st Party here under
ahall cease and terminate.
-4. The Pirst Party shall have no duties ~r ob-
ligation~ with respect to laid property other than these ex-
pressly imposed upon ~im by tbe terms of this Agr~ement and he
ahall not have the duty or obligation of ~Rnaging said property
or insuring the s~ from losses of Bny kind or paying taxes
or costs, ch~ngEs or expenses, including interest or principal
on any mortgage or deed of tru3t obligation, relatlng to the
said property.
T~ Pirst Party shall not be liable to the
Second Party or to any other persGn or persons, by reason of
any loss, damage or injury to said property or the improvements
thereon or by reason of any loss, damage or injury suffered by
any person or ~rsons while in, upon or ahout the same.
~. The trusts created by the t~rms hereof shall
be terminated at the e~piration of tw~nty-o~e (21) years from
the date hereof, but may be terminated at any time prior thereto
purauant to P~agrah 6 hereof or in the event of a sale thereof
upon instruction. of the SeeoDd Party. ita Aucceaaora or aaaigna,
aDd dellyered to the 'lret Party. Upon receipt of auch inatrue-
tioDa, or upon the expiration of the truata afor.said, th@ Pirat
P~ty shall convey Gaid real eatate to the Second P.rty, ita
oucc...or. or ~a'iln. in accor.danee with ita instructions and,
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