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TRUST AGREEMENT
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THIS A~REEMENT, made and entered into by and between
S
WILLIAM W. ADAMS and ANNE ADAMS, his wife, whos~ address is c/o ;
Gulf Oil Corporation, Gulf Building, Pittsburgh, Pennsylvania;
CLIFF W. PEERY and RUTH PEERY, his wife, whose address is Gulf
Oil Corporation, 95 Merrick Way, Coral Gables, Florida; ANDREW
ELLISCN and A:~IELIA S. ELLIS0:3, his wife, whose address is 8 Gate
House Road, Sea Ranch Lakes, Florida and A. PAUL YOWG and BILLIE
YOUNG, his wife, whose address is P. O. Box 694, Boynton Beach,
Florida;
W I T N E S S E T Y.
f ormer
wN.EREAS, the parties hereto are the~owners of lands in
St. Lucie County, Florida, described in the sheet attached hereto
marked Exhibit "A"; and
WHEREAS, saicl parties have executed a warranty deed to be
u~ed in conveying said lands to Holiday Out in America at St. Lucie,
; Inc., a Fl~rida corporation, whose address is P. O. Box 161, Stuart,
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` Florida, and
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; WEiEREAS, as a part of the purchase price for said property
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~
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~ said purchaser has executed two purchase money mertgages securing
a
~ promissory notes in the amount of One Hundred Ninety Five Thousand
¢
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~ ($195,00~.~0) Dol2ars and Two Hundred Sixteen Thousand Seven Hundred
h
~ Fifty ($216,750.00) Dollars, respectively, which notes and mortgages
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~ are payable to said A. Paul Young, as Trustee,
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~ Now `I'HEREFORE, in consideration of the foregoing matters,
s
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A it is hereby:
- AGREED:
~ 1. That Andrew Ellison will act as Successor-Trustee for
the parties hereto for the purpose of collecting the sums thereon
;:i:
~ becoming due from time to time and distributing same as hereinafter
`~ti THIS INSTRUMENT PREPARED BY
ANDREW ELLISON
8 GATBHOUSE ROAD D t~~~~~
~t FT . I~AUDERDALE , FIARIDA ~
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