HomeMy WebLinkAbout1736 -5-
18. Nothing herein contained shall obligate Plans, Inc, to make
any psyments for acco~nt of any Plan Holder other than from fy~da
standing to the credlt of the Plan Halder in the Cuatodian Account,
and Plana, Inc. shali be relessed from a11 liability for £ailure to
make any paymente for which there ere not sufficient funde standing
to the credit of the Pla~ Holder in the Custodian Account.
I9. A Plan and/or Che ham~ covered thereby ahall be assignable
and aiay be tranaf~rred under the following conditions:
(i) A sale thereof may be effected only to a persos approved
by Flans, Inc. twhich agprov~l shall aat be withheld unreasonably)
and in ~ccordence with Faragraphe 11 and 19 of these Terms and Condi-
tion~. The new awner muat assume all obligationa and agree to abide
by all terms and conditione of Lhe Plan.
(ii) It may be Cransferred by gift, deviee, beque~t or in-
testacq to a peraon approved by Plene, Inc. (which approval she11 aot
be withheld unreasonably) or to a trust nf which the truetee or trusteea
and beneficiaries are approved by Plans, Inc. (wiiich approval shall not
be ~rithheld uareaeonsbly). The new owner muet assume all obligations
and agree to aad ebids by all tezma and conditiona of the Plan.
Sxcept aa set forth in thie Paragraph 19, a Plan aad/or the
home covered therehy ~hall be non-aseignable and non-tran~ferable.
20. "The terms and provieiona of all Plana may be altered aad ame~.ded
and all Plans may be terminated by Plans, Iac. with the consent of a
thea majority in number of the Plaa Ho2dera who have not ~erminated their
~lans pureuant to Paragraph 15 hereaf, except that no modification or
amendment may be raade which would affect leas than all of the plaa
Holdera and the proviaions of thia Paragraph 20 maq noC be amended.
21. The consent or approval of 1?l~a Holder~ or eetion taken by
them shall be sufficiently ~:videnced if ia irriting or wri.tings received
by Plgn~, Inc. Plana, Inc. ehall advise ail of the Plan Holdera of
the substance of any am~admeat and the eff~ctive date thereof and the
dste of termination of the Plan.
22. Plans, Iac. will use its beat efforts, aubject to tQnant
preferences, to ~llocate reatal occupancy as nearly as arrsy be pracCi-
cable, equftably among all Plan Holdera who have not terminax~d their
Plans.
23. ~ach Plan Holder authorizes Plena, Iac. to institute legal
proceedings for th~ collection of rent or the ousting af Cenants in
the name of and at the expex~ae of auch Plan Holder and to act as the
agent of Plan Holder in connecti.on ~aith all maCtere pertaining to the
home of such Plan Holder. Such expenaes may include the eagaging of
leg~l counsel for any euch m~tter. Each Plan Halder agrees ta aign
such documentie in con~ection with this genera~ authority ae may be
requested by Plans, Inc. from time to time. ~
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