HomeMy WebLinkAbout1581 . ,
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79 194 . ~
of more than one year and all sales of the land shall be approved
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in ~rriting by a ma~ority in interest of the Owners. .The purpose ;
o~ the Owners in acq~~iring-the land is solely for investment, i
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and the power to lease and sell herein granted is only to realize !
that pLrpose. The death.of an Owner will not revoke the appointment ~
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of the attorney-in-fact and the appointment is acknowledged to be a '
power coupled with an interest and will be binding upon the heirs,
personal representatives, successors, heirs and assigns of each
Owner. Kantner, as attorney-in-fact for Owners is hereinafter ~
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sometimes referred to as At~orney-in-Fact. No sale or lease of
_the land shall be made without the written consent of the attorney-
in fact.
5. Covenant of Attorney-in=Fact. Kantner covenants that
as attorney-in-fact for Owners, he will pay the net proceeds ~
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of all leases and sales of the land and all other net proceeds ~
from the land to Trustee and he will render true accountings ~
not less frequently'than semi-annually to Trustee.
6. Compensation to Attorne -in_F~ct. Kantner shall
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receive no compensation for his services as attorney-in-fact,
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i but the Trustee shall pay or reimburse the attorney-in-fact for
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~ all of his expenses and of others made at his direction on account ~
~ of the land which are not properly chargeable against commissions
~ paid for leases or sales. Trustee ma rel u on the a ~
~ y y p pproval of
the attorney-in-fact in making such payments. In lieu oP com-
pensation to attorney-in-fact there•is hereby granted to WOODROW KANTNER =
real estate broker, or any nominee of WOODROW KANTNER who is also a
registered real estate broker, an exclusive right to make leases and ~
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sales of the lands and any portions thereof and to receive a -
~ cor~.~^ission therefor of lOK of the rental or sale price, such exclusive
~ rignt to be effective until all of the above real property has been
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~ sold by the Trustee, provided, however, that WOODROW KANTNER, as
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broker or his nominee Broker, sliall cooperate with other brokers in '
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the disposition of the lands. This exclusive right to make leases
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~ „k ~Q-P~ i~ aooK3U8 PAGE 510 ~
~ - 3~~K 312 ~a~E1579 i
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