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Recreation Area, and any amendments thereto.
3. This Agreement shall be binding upon the
parties hereto, their grantees, successors and assigns;
provided, however, in the event ALISON succeeds to the ~
interest of the~Recreation Association and conveys said
interest, then ALIS0~1 shall be released and relieved of any
further liability under the terms of this Agreement, upon
the recordation of the deed or assignment from ALISON;
provided, further, however, that the grantee of said deed,
or assignee of such assignment, s~all take the interest
conveyed or assigned subject to the terms and conditions of
said Membership Agreement (and any amendments thereto), and
any ottier documents of record pertaining or relating to said
Recreation Area.
This instrument is executed by the Trustees
or officers, or both of ALISON MORTGAGE INVESTMENT TRUST in
their capacities as such Trustees or officers. By the
execution hereof all parties agree that for the payment of -
any claim or the performance of~any obligations hereunder,
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~ resort shall be had solely to the assets and property of the ~
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~ Trust and no shareholder, trustee or officer of the-Trust ~
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~ shall be held personally liable therefor. Reference is made ~
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to the Declaration of Trust dated June 17, 1969, and amend- ~
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ments thereto, copies of which have been recorded in the ~
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office of the County Recorder of Los Angeles County, California. #
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IN WITNESS WHEREOF, the parties hereto have caused ;
this instrument to be executed by their duly authorized ~
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