HomeMy WebLinkAbout1588 Y~J: /I
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'79 191.~
dignity required of a conveyance of land. Should a Trustee
not be so appointed within sixty days after the giving by
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Trustee of notice of his resignation, then in the discretion
of Trustee it may: ~
(a) Terminate the trust by distributing the assets
thereof to the Owners in their respective shares, their interests
in the lands being distributed by deeds to them of their undivided
interests; or
(b) Conveyance of the assets of the trust to Attorney-
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in-Fact as successor Tr.ustee, provided Attorney-in-Fact accepts
such appointment in writing, acknowledged and e xecuted with the
di~ity required of a conveyance of land; or
(c) Petition any court of competent ~urisdiction for
appointment of a successor Trustee; and any Owner or Attorney -
in-Fact may do likewise.
16. Com~erisation of Trustee. The Trustee shall
receive no compensation for his services as Trustee. Any successor
Trustee serving hereunder shall receive reasonable compensation Por
its _services .
17. Advances by Trustee. If the funds oF the trust are
~ not sufficient to meet its obligations when due, Trustee shall
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~ have no duty to advance funds therefor; but if Trustee in its
~ discretion does advance funds for the benefit of the t rust, then
Trustee shall be re-paid together with interest at nine (9~) per
~ ~ cent per annum thereon from the next funds of the trust in the
hands of Trustee notwithstanding anythin~ herein to~the contrary.
18. Protection of Trustee and~Attorney-in-Fact. Each
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C
~ of the Owners covenants to save Trustee and Attorney-in-Fact
A
~ harmless from all claims, demands, causes of action, expenses
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; and reasonable attorney~s fees which may be incurred on account
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s of this trust, and the sale or transfer of any interest by an
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~ Owner shall not relieve such Owner from liability for any of such ;
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~ charges as may relate to the Trust during the period of his
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~ ' ownership. The compensation and all e~:penses and expenditures
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and reasonable fees of attorney-in-fact incurred on account of
- ``K 31~ 1585
~ _ i~;~ ~K y ~ ; ~~OK ~8 PAGE 51~
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