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Home My WebLink About0318 ai~cl ~~c~nclusi~f~~. 1'0 ~xursc~n, firm ~r c~rE~~ratic~n l~ani>>~; iii~ncy io the '1'rustr.c ncecl inc~uirc i~ito thc ncrc•essity or ~~roE~ricty of SIICII 1(lZil nc~r ta thc ~ip~~licatiun c~f thc in~ncy; G. '1'o sc~ll, trz~isfcr or convcy ~zid Property or ~ny ~~1rt thci•cof ai~d upon such terms or creclit or c~ther~~~ise ~s 'I'rustee in his al~5olute , discretion may decm best; t0 C)CCl:i1tC~ ackno~vledge ancl clclivcr ; ~roper instru~nents of convcyance, warranty or any other deed to { ~vhatever grantees and to collect and receive the purc}~ase price, if a?Zy, thci•cof and all notes or ~thcr obligations eviclencing ttie defcrred ± ~~ortions of ihe ~~urchase price, if 1ny, and to ~ell, zs~i~n, discount y and transfcr a~iy and all notes ~r obli~;ations evicleitcin~ thc ~lefci~red 'i ~i•ice ~t'Ltll (~L' \V1tIlOUt CCCOIIi'SC tobethci• ~vitti thc iltoi•tgagc or other securities therefor. The recei~~t of 'CruStee for the pui~chase m~ney for said Propcrty or for thc notes ar other obli~ations shall be a sufficient dischargc to the purchaser or purchasers and such pur- chaser or purchasers shall have no duty to see to the application of the money nor to inquire into the propriety of/br authority for the sale; H. To compromise, compound, settle and adjust claims and demands in favor of or against said Yroperty or Trustee upon such terms and coiiditions as Trustee may in his absolute discretion deem Uest; I. To enter into such agreeinents, joint ventures, partnerships, cor- poi•ation or aiiy other btisiness organization ~~-ith any other party or partics including himself as niay in the solc cliscretion of Trustec Ue necessary or desii•able to de~relon said ~Pi•operty in cc~njuiiction ~<<ith others but Ti•ustee shall retai?1 at lea~t t~ti~enty-fivc (25;'0) perceilt of the ownership of said Property for ttie Tc•ust. ~ = I~ISTRIi3UTI0\ OF PROC~:ED5. L`~on the receipt of any Trust proceeds or income ~ ~:~c~luding ~rithout limitation the sale, mortgage or lease of the Property or any portion ~ ~t;ereof Trustee shall reserve such amount of such proceeds as he may reasonably deem ~ ;>>fficient to pay or to make reimburseinent for the payment of all e~:penses, cfiarges ~ ~~id other liabilities ~vhich may exist a~ainst the Trust or any Pro~erty in the Trust r ~~r by ~-irtue of any agreement ~vith any party and shall pay over and distribute the g :~,3lance of such proceeds, if any, to the Beneficiary. _ ~ . ~ ~ ~ TER.III\ATION. This Trust shall terininate: ~ - ~ ~ Twenty-five (25) years after the per?~~anent moi~tgage financing the ~ de~Telopment is placed of record or at sucti eai-lier date as said ~ mortgage may be paid and satisfied; or ~ ~ ~ B. _~t such time as Trustee may sell all of ttie Property in ttie Trust ~ ~ ~ nd upon termination Trustee shall ~ay o~-er, distribute and convey frce of Trust the `=s '::en rec.lainir.g Property, if any, and other assets then remaining in Trustee' ~ hatids 2~ the Ii~neficiary or her successors in interest and Trustee sl~all thereupon be dis- ~':arged frosYl all further duties, responsbilities-and liabilities hereunder. v_~ ~~~`i DE~TFI OF f3E~EFICI~'~RY. Tlie death of the l3eneficiary hereunder shall i~ot ter- ~ ieiate this Trust nor in any inanner affect the po~~•ers of the Trustee hereuncier and in . " :~~~.-ent of the death of the Beneficiary during the eYistence of this Trust, her right and ~~~terest hereunder shall pass to her executor or administrator subject to this Trust. It is further understood and agreed that the Beneficiary does not no~v cior at any time in = ::~e future }iave any right, legal title or interest in or to any E~oi•tion of t~le 1'r~pei-ty ex- ~~Y~ ept as ~~erein provided. - :F 4~ 3 s~~ _ 31g ry~= a~~ ~ -1 ~.:-..:3 = " a. . , . ~ . ' ~ ' . . . . . ' _ " . : .