HomeMy WebLinkAbout1726 DECLARATION OF TRUST
The undersigned HARVEY DAVIS and SAMANTHA PLAZA, do hereby declare
that they are holding title to the following described property:
UNIT 72S, SAND DOLLAR VILLAS, ST. LUCIE
COUNTY, FLORIDA
As the trustees for HARVEY DAVIS and AVIVA DAVIS; MURRAY RABEN
and JUNE RABEN; LEON ROTH and DOROTHY ROTH; and JULIAN PLAZA and
SAMANTHA PLAZA, in equal shares, or in such proportions as their
shares may be adjusted from time to time in the future in accordance
with the Joint Venture Agreement entered into by the Beneficiaries
above named. The undersigned declare that they will admi~ter
the above property.keeping the best interest of the Beneficiaries
in mind, that they will arrange for .the platting, dividing, manag-
ing and improving the above property.
Trustees reserve the right to obtain mortgages, in addition to
the Purchase Money Mortgage, with the understanding that no mort-
gage will be obtained without the approval of at least six (6) of
the persons, nor shall the Trustees bind~the Beneficiaries to any
major improvement or expenditure on the property of the venture
without such approval, as stated above.
The Trustees shall maintain a bank account in the name of the
~ venture, and shall account to the Beneficiaries from time to time.
E No distribution shall be made, either to the Trustees or Bene-
ficiaries without a concurrence of at least six (6) of the arties.
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Should the Trustees find it necessary to obtain additional
funds for expenses incurred by-them, mortgage payments, taxes or
~ any other requirement of the venture,-they shall make demand upon
the Beneficiaries, who shall then make contributions in accordance
with the Joint Venture Agreement.
If the undersigned voluntarily wish to terminate his or her
Agreement with the Beneficiaries, he or she shall execute a Quit Claim
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