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HomeMy WebLinkAbout0917 ~ c. Rezone any or all of the trust property. d. Adopt any comprehensive development plan for the trust property, and all costs relevant thereto. In the event that a deadlock shall occur between the ~ beneficiaries pursuant to the teruis of thi.s paragraph so that~ the Trustee is unuble to carry out the purposes of this trust because of the beneficiaries' disagreement and refusal to approve acts of the Trustee as required under the terms ~f this paragraph~ the 1'rustee shall, after 30 days notice to all beneficiaries of said deac3lock, convey all the trust property rec~:~ining in his ~-:-inc35 ta the respective beneficiaries of the re5pect ~vc= parcil.~ :15 cal i~ci fur uncier the terrns of this :.igree.,~~.~nt by {luit ~laim lleed as tenants in com:non and this trust shall. term,i: ate. In the ~vent that any benefici~ry shall disagree with the distribution the bene£iciaries~of the property after cicadlock as provi::ed £or in this paragraph, the parties a~ree t~-~at they wiJ.2 su::::it yuch dispute anc-a the question of how the remaining propert-- s't-:ouid bE distribuLed amon~; the beneficiaries ,I ~ to bin~~in~= arbiLr<.=ion in accordance with the P.ules or the ' ~~~:sericar_ ~:rbitrat_o*~ Association. - f 2~?. ~~;v _:~i?JI~'ZCATIU;~i OF JA:~f~~S H. PRUITT REAL ESTATE~ ~ = I::C . I~ i~ acrs~c~. = edged and agrceci that the certain promissory - ~ - ~ note ~iven to J:'~.N`.~:S H. PRUITT P.EAL ESTATE, INC. , in conjunction ; ~ ~ ; with the closing o~ the contract described in Exhibit "A", a copy ~ _ ~ ~ cr£ whict-~ ~s attac~:e:.i hereto and made a part her~of as Fxhibit i ~ f ~ "D", is a liabiliry of the beneficiaries of Parcel B in proportion ~ ~ . ; ~ to their benefic::.~ interests hereunder and in the event that ~ ~ 3 ~ JAMES Y.. YRUITT ~.~'~i, ESTATE, INC. , shall be required to make ; . ~ payn?ent on said nute, that it snail nave a right tu coi.~ribution upon demand from the other beneficiaries of Parcel B in proportion to their beneficial inCerests hereunder. ; ~ ~ ~ - ; 8oc~297 P,ticE 9i4 . ~ ~ E . f ~ ~ . . ~ " ~ - ~ ~ ~ s~'~~. g._=: . . . . ~ - . .