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TKUS'1 AG1'.~EMENT OI'
t'ALM BAY ROAD TRUS'r ~~1
THIS TRUST AGREEI~tLNT, made and entered into L-his j
_ l~, day of ~ , 1977, by and between COY A. ~
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CLARK, A5 TRUSTEE, hereina~ter referred to as TRUSTEE~ and J~S ~
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}i. PRUITT R~:AL ESTATE, INC., MIKE PRUITT. TONY BARGE, ARTHUR V. ~
.~AULL and FRANCHISE INVES'ri~lEN'T ASSOCIATES, a Partnership consisting ~
of WILI.IA:~t E. BRENE2~N, FLORIDA NATIONAL UNDERWRITING, INC., a
Florida corporatiun, and SAMUEL A. ~LOCK.
WITNESSETH: .
~;:~::K~;E:S, I~KANC~iISL•' INVESTMI~NT ASSOCIATES entered into
certain Cc~nt~r~ct fc~r 5~~1e ~;nd Purchase datc:d .)anuary 11, 1977 ~
~~th JACK SCHLF?~'ER for L~ie purchase af certain real property
i~cated in brevard Count:y, Florida, a co~y of which is attached
~lE'rE'~O c327C3 r: ade 3~%c?~t: ~:C t E'Ot alS ~.:i'(libl~ ~~A~~ , ~311C~'
;,iNEREAS, thc depasit of ,SS,OU0.00 far said contract was
iur;iis'r~ed Uy ~'Rr',;:CtiiSE IiJV"r.~T:•i~NT ASSOCIATES, and
',~:t~Eiv::~S, ~:~:~iES il. YRUITT REAL ESTATE, INC. , tti'as the
~ro:urin~= caus~~ o= °:ai~ Contr.sct: anci k-oul~ ~e entitled to a -
~;.::v,~issiot~ as a ~e~-~slt of tne sale, atid
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~~.:;EiZEAS, t;::~ ::arties are desirous of mutually ~
cic-,:~~~o; yi:~, thc ~.~:-oi,t:-ty ~1T1Ct establisE~in~; a Trus~ee in order to ~
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i_cilit:~~~ rize: cl~~v~~ic;r.r:,erit ~f thc~ prvperty, ~
ivO~J, THr ;i:FOkE, in cansideration of Che r.iutual covenants ~
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i,~r~in cvnLaiii~.i, ~~i~ci ~t.ner f,ood and valuable consideration, ~t ~
i~ ~;~r~~-c: be~;•.e~:i r-~:~ ~~arties as ~ollows :
i. ~:F:C;ITt_L. That the foregoin~; recitals are true and
..--c :.::,:c;rYV: <_; ~~L i;~ :-eiI: Jy~ rererer.ce.
'+~~:1:: «~+D U:~s3T:CTiVES. The name cf this tr_ust stiall
t~~- P~:L;: L~~Y n;ff~D '~::~'ST ~~I, anci its o~.~~ect shall be Che acquisition,
::a,,r:~i~f_:T,CIIL, itr.;,rc~ve::fsr~r, ~~nd dispositiori ~F the trt~st property in
~.C'CC>I'tj:3i3C:f' k'lt~'1 t~lE' CE~i (~f ~t;~5 ~i€~reeruent .
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