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. DECLAR.ATION OF TRUST
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LLOYD M. HOOVER ASSOCIAT~S
THIS DECI..EIRATION OF TRUST made on the C~~~' day
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of :-~:-y.~rti-,196G, by LLOYD M. HOOVER and ELIZABETH N. HOOVE
both of Wilbraham, Hampden County, Mas~zchusetts, and LLOYD N. HOOVER,
of La Jolla, San Diego County, California, and HERBERT M. HOOVER, of
Fairport, Monroe County, New York, hereinafter called the "Trustees",
WITNESS~`i'~-i Ti3AT:
ARTIC LE I. M NAME
This Trust shall be designated "LLOYD M. HOOVER.
ASSOCIATES", and the Trustees in their collective capacity, so'far as prac-
ticable and convenient, shall act under such designation.
ARTICLE II. - F~R1~4 4F ORGANIZ.ATION
The Trustees hereUnder shall hold all the funds and property
noiv or hereafter held by or paid, transferred or conveyed to them or their
successors, together with all income, profits and proceeds of the same, and
all income, profits and proceeds accruing to them from the management of
the business of the Trust, hereinafter called "the Trust Fund", as Trustees
hereund'er, in trust for the purposes, with the powers aild subject to the
limitations hereinafter declared, for the benefit of the Beneficiaries ratably,
according to their respective holdings of sh.~res in the Trust. It is hereby
e:cpressly decl:~red that a trust, and not a~~rtnership, is tiereby crcated;
that, apart from the common law liability of the Trustees for wilful mis-
conduct and gross negligence, neither ~~~tees ~~e Beneficiaries shall
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~;:~r~sonally liable hereunder, as partners or otherwise, Uut th;~t ~'ur ~
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