HomeMy WebLinkAbout0513 . . '79 191~
~ the land and this trust including payments upon mortgages, taxes {
~ ' i
. ;
and special assessments, premiums for insurance, and expenses =
~ . and compensation of the Trustee and Attorney-in-Fact, and all
other expenses and charges incident to this trust. Trustee shall also
determine in i~s dis~retion the times at which such assessments `
shall be paid, but the time intervals for notices and the procedures .
~ for collection whicli are hereinafter set forth shall be followed:
(b) It is contemplated that the Trustee.will make an
annual assessment upon the Owners, the procedure for the collec-
~
tion of the assessment being effected in ~the follo~ving manner,
the particular months stated being sub~ect to change in the
discreti,on of Trustee: -
(1) Within 5 days before or after November 1 of each year,
Trustee shall give the first notice of the assessment which shall
be due on December lst of each year. .
(2) klithin 5 days before or after January 1 of each year,
Trustee shall give the final notice of the assessment which shall :
;
be due on January lOth of each year. -
(3) The assessment shall be due on January lOth of each
,
year, and the Owner shall be in default if the assessment is not paid
; befor° 2 P.M., Ea.stern Standard Time,~on that date.
a ' (4) Within 5 days before or after February 10 of each year,
i
~ Trustee shall give notice of t~e time and place oP the sale of- .
~ the interest of any defaulting owner, which sale shall be on the
_ -
~ third nonday of June of each year. In addition to the notice of
~ ,
~ sale to Owners, including the defaulting Owners, Trustee shall
_
~ ~r~.ke such public advertisement of the sale as shall be requested
~ . .
~ by the defaulting Owners providing such advertisement is approved
, • .
~ by 'i'rustee and all expenses thereof are paid in advance by default-
;
ing OVmers. and in absence of such request and payment by defaulting
s
~ Owner, no public advertisement will be made.
~ . (5) On the first Monday of June of eaeh year, the ~
~
~ interests of the defaulting Owners~shall be soid by Trustee at
~ .
~
~
~
-6-
~ _ ~
~ ~00~308 Pn~ 513 ~ f
- . ~
~4
,
~ -
~ wa- ~ ~ ~
~ ¢ _ .r _