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the CII~iTRAL BANK AND TRUST COMPANY, kno~wn as Land Trust #75-LT-63-1045,
under which the said CENTRAL BANK AND T'R~JST COMPANY, as Trustee,
shall hold legal title to the aforedescribed property as agents for
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the ultimate Beneficiaries herein. Further, it is not the purpose
to fona an association of the members herein, but merely for the
~ purpose of facilitating the management and disposal of this property.
2. TRUSTEE: Since there are a number of investors in-
volved in this Trust, three (3) Trustees are named hereunder,
with the specific understanding that the action of two of the three
Trustees is sufficient to direct the CIIiTRAL BANK AND TRUST COMPANY
in conjunction with its duties under its Land Trust Agreement,
which shall be executed by the three Trustees. The said Trustees
named are as follvws: ~
M~tTHJ NAFTAL
A?~I,1~1N EASTON °
JOSEF GLASS
East shall serve until such time as he may resign his Trust, or
~ until such time as a Successor-Trustee be appointed by the Bene-
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I ficiaries on behalf of that group. Failure to name a Successor-
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~ Trustee shall in no way invalidate thi.s Trust, since the remaining ~
Trustee is still sufficient to represent his group hereunder. This
Trust shall be known as the "ORANGE AVANUE EXTF~TSION TRUST" .
3. COl~TDITION OF TRUST: The Trustees acknawledge the
Trust created hereby, by this Agreement, and agree to excute the
Trust in accordance with the terms and conditions as hereznafter-
stated:
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~ (A) The Trustees shall serve without Bond.
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~ (B) The Trustees shall not be personally liable for
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~ any expenses, charges or damages or for any obligations which may
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~ be i.ncurred now and hereafter in the execution of their duties in
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CASSEL AND OENJAh11N. ATTORNEYS A7 LAW. SUITE SOI FIAGLER FEaEP.At BUILQ:IVG. MIAG11. FLOR!~A 33~32
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