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NOW THEREFORE, in consideration of the pcemises, it is agceed as ~
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follows: ~
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1. The party of the second part will collect the payments on the
~~~~Q-I~pRr~~~A(~ mnrtga4e and distribute the aroceeds to each of the parties
of the first part in accordance with their respective interests therein as set
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forth above. The death or disability of any beneficiary hereunder shall not
; terminate the trust herein created, nor in any manner affect, the powers of the
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party of the second part hereunder. No assignment of any beneficial interest
her~under shall be binding on the party of the second part until the original
or a duolicate of the assic~nment is lodged with the Trustee.
2. Nothinq contained herein shall be construed as imposing any ob-
ligation on the party of the second part to file any income, profit or other
tax reports or schedules, it being expressly understood that the parties of
. the first part will individually make all such reports and pay all taxes required
with respect to the proceeds received by them from the party of the second
part.
3. The party of the second part may resiqn at any time as agent and
trustee for the parties of the first part by sending a reqistered mail notice of
~ its intention to do so to each of the then individual beneficiaries hereunder.
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t In the event of _such resignation, the party of the second part will assign to
~ the above-named individuals their respective interests in the mortgage.
4. It is agreed that the party of the second part shall receive for its
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services $250. 00 annually of each mortgage payment, which sum shall be
apportioned between and deducted from the disbursements of each of the
parties of the first part in accordance with their percentage ownership in the
mortgage.
5. The party of the second part shall have no liability whatscever for
failure to timely collect the mortgage payments payable under the provisions
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of the mortgaqe, it being understood and agreed that the party of the second
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