HomeMy WebLinkAbout0511 . , .
~ 79 134
and sales is not a listing, and no listing will be made except ~
on the authority of Kantder.
~ 7. Powers arid Duties ~of Trustee. Trustee shall have
no powers nor duties except as.follows: :
(a) To make demand upon owners in the manner herein-
after provided.for payment of Owner's pro-rata share of the
following charges: payments upon the purchase money mortgage;
taxes and special assessments; premiums_for insurance; expenses
a~nd compensation of the Trustee and Attorney-in-Fact; and all "
other expenses and charges i.ncident to the land and this trust.
(b) To collect the payments described in-the foregoing
paragraph and apply the proceeds to the payment of the-items
therein described. '
(c) To procure such insurance protecting the interests
of Trustee as Trustee shall req»ire. At the request of Attorney-
in-Fact, to also procure insurance protecting..the interests of
Owners and Attorney-in-Fact, provided sufficient funds for the ~
•payment of the cost thereof are held by the Trustee or made ~
available to it. ~ ~
~
; (d) To procure and record releases of the purchase
! money mortgage now or hereafter upon the lands when directed
~
; _ .
` by A~torrtey-in-Fact, provided the funds required therefor are
€
~ available without ma.king assessments against Owners in advance .
~ of re5ular payments upon sueh mortgages.
(e) To make, execute and deliver leases and Deeds of
~
~ the land or portions thereof wheneve'r directed 3n writing by
~ Attorney-in-fact and accompanied by approval in writing of a
s
~ msio»ity in interest of the then owners of the land as such are
~ ~
~ shown upon the records of Trustee; provided, however, that all
~ -
- instruments signed by Trustee shall be sub~ect to the approval ;
s ~ .
~ of Trustee and shall eontain no obligation of personal liab ility
~ and no covenants of warranty except against acts of the Trustee;
~ provided, however, that leases for a period of less than one year
~
~
m -
~ -4^ ~
~ ~
~ . aoox 348 ~ac~ 511
~ _
~
~
~
; _ . - -
, - ~
- ~
~ .s~t~ - ' rt~'