HomeMy WebLinkAbout0399 ' , ~ , DuUti V~.rv . - - -
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~~il~c si~areholder. After deposit of the purchase price the Trustees sha:l not nay~
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any dividend to the former holder of such shares or permit liim to cxcrcise
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any of tlie privileges of a shareholder, but may so far as pcrmitted by la~v ~
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1~ trcat the depositor of the purchase price as the owner of such sh~r~~s. The
;j'1'~•ustces shall have the right to refuse to any person who shall acquirc any
common shares otherwise than by issuc or sale by the Trustees or by
tc•~nsfer in ~ccordance with these restrictions, the right to vote, receive
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~ clivfdends or enjoy any privileg~ of a shareh~ldcr.
A pledge or hypothecation of any common shares sha11 not
~ bc dcemed a sale, but no transfer of shares pledged or hypothccated shall be
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made by the 'I'rustees on th~ books of thc trust, unless the plect~e or hypotheca~
I ti~~n is forcclosed, and then the transfer shall Ue subjcct ic~ thcse restrictions. ~
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~ If the Trustees shall vote not to enforce thc`SC I•estrictions or
j fail to mail ~~otice of their decisic~n to enforcc these restrictions ~vithin the
~ pcriod of thii•ty (30) days llcrcin providcci foi•, or if thc 'I'rustces shall fail
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to cxcrcise this option as hcrcin provided, thc holder may at any time within ~
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six (G) montlis from that votc or fi•om tlic c~pii•ation of thc thirty (30) days'
i period or ~vithin any lvn~;cr period fi~ed l~y that votc transfci• all or any pai•t ,
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of such si~ares to any pc~rson or organizztion oi- inay retai~~ them ~vitli all ~
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rifihts thcreto appcrtaining. ~
All offers ancl notices shall be s~•nt by registet•eci mail ~t
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postpaid to thc Trustecs at ihc principal j~lacc of busi~~css of thc '1'rust or to ~
thc holdcr of shares at his Iast known address or at tlic address ~iE~~~c~aring on i
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thc bouks ~f thc Trust. ~
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Trustces hercundcr may bc sharcholdcrs also, and shall ~
~ havc thc rifiht to hold :~nd own and to purchasc at nublic anci priv~itc sale or in
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°aooK ~~1 PAGE 399
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