HomeMy WebLinkAbout1419 (7) The Trust herein created and the powers, duties, ,
rights and obligations of the Trustees herein shall continue
and remain in effect until all of the Trust Property is disposed
of and theproceeds thereof distributed among the benef iciaries;
but in any event, shall not continue beyond twenty (20) years
from the datehereof. If at the expiration of twenty (20)
years from the date hereof, said Trust is not closed, the
Trustees, as soon there~fter as is practicable, shall by
proper deeds, convey the trust property or any unsold portions
thereof, in fee simple, together with any undistributed proceeds,
to the beneficiaries ~as hereinabove set forth in the portions
and proportions as their interest are hereinabove set forth;
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except however, that all of the benef iciaries by written in-
strument, executed and acknowledged by them in a form suitable
and proper for recording under the Laws of the State of Florida,
may extend this Dec2aration of Trust and Agreement, and the
Trust herein creat~d, for ~n additional period as may be set
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` forth in said extension agreement.
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~ (8) That any of the beneficiaries hereunder may
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' sell, assign, transfer or convey their interests or ownership
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~ herein, and any and all persons or corporations acquiring the
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~ interests or ownership of the beneficiaries hereunder shall
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~ be subject to and bound by all of the terms and provisions
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~ and conditions of this Declaration of Trust and Agreement,
~ and that any of the beneficiaries or any one succeeding to
~ the interests or ownership thereof, may not mortgage, encumber,
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4° led e or otherwise encumber any interest or ownership of such ~
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,a party, except subject, inferior and subordin~te to the terms,
provisions and conditions of this Declaration of Trust and
Agreement. That no assignment of an interest other than by
operation of alw, shall be binding upon the Trustees until
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the original or duplicate oi•iginal of such assignment is de-
~~w livered to the Trustees and i.ts acceptance indicated thereon.
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_5- t::~ 224 F~~~14~8
EGERT d. LEVINE, ATTORNEYS, AINStEY BUILDING, MIAMI, FLORIDA
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