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Home My WebLink About1480 ~ ~ t 7. ll.a/ in cav the Tlunlte shah make •ny MIvMKe! Of rlWrtry ~trt KtMMI nl tells Trull or shall Irn ma+ln • ttarty to any Iltipallon On atctrurtt of hoWirtp title a posse»wn to said real estate a in corww•etlon with this trust, or in eau the trustee shall be eontpelled /o pay any sum of matey on acr:otar?t of This trust, whether on xt:ounf of hreach of contrxl, injury t0 peratxt a property, lines a penalties tr?der any bw a otherwise, the btrrtelrtiaries hereunder do hereby jointly and severally spree that they well on demand pay to the Tr,~tstee. with inlNKt Ihe.ton al the rate of 696 per anrwm, alt such disbwsern~ttta or advances a payments made by the Trustse, together with its etc• penses, inckrdinp reasonable attorneys' fees, and that the Trustse •.hall not be called upon to convey a otherwise deal with said property at any time held hereunder until all of said disbursements. payments, advances and expenses made a incurred by the Trustee shall have been fully paid, together wish interest thcrcen as aforesaid. However, nothing herein contained shall be construed as requiring the Trustee ro ad- vance spay out •rty money on xcount of this trust a to prosecute a defend any legal proceeding imrolvirtg this trust a any prope_ty w interest thereunder unless It shall be iwnished with funds wflicitnt therefor or be satisfactorily indemnified in respect thereto. That nothing herein contained shall be construed as imposing any oblpatiorts on the Trustee ro file any income, profit a other ta>< reports a schedules. it bring expressly understood that the bertefitisries hereunder Irom time to time will individually make all such reports and pay any and all taxes growing out of their interest under this Ttvst Agreement. 9. That any contrxts, obligations a irttlebtedness which may be incurred a entered into by the Trustee in cortrtection with saW real estate-may. be Netted into by it in the rtarne of the then bttnelitiaries hereunder, as their attorney-in-ixf, hereby irrevocably appointsd for such purpose, a~ at the election of the Tnntee, in its own name, as Tnntee of an express trust, and the Trustee shall Mve rw obligation whatsoever with respect to any such contrstt, obligation a indebtedness except only so far as the trust property and funds in the actwl possession of the Trustee shall be applicable ro tM payment and discharge tlterwf. ; 10. That no party dealing with the Trustee a any stxcessor Tnrstee in rebtion to said real estate or, ro whom said real estate a any . part thereof shall be conveyed, contracted ro be sold, leased a mortgaged by the Trustee, shall be obliged ro see to the applicatioh of any purchase money.-rent a matey borrowed a advanced on said real estate, a be obliged ro see that the tergts of this Ttvst have been corrt- 1 died with, a be oblged ro inquire inro the authority, necessity or expediency of any act of said Trustee a be obliged a privileged ro in- quire into any of the terms of this Trust Agreement; and every deed, trust deed, mortgage, lease a other instrument executed by the Trustee in rebtion to said real estate shall be conclusive evidence in favor of every person relying upon or claiming under ant such conveyance, • lease, mortgage a other instrument, (al that at the time of delivery thereof, the trust created by this Trust Agreement was In full forte and et(ect; Ibl that such conveyance a other instrument was executed in accordance with the trusts, conditions and limitations contained in this Trent Agreernertt and all smendntertts hereof, if any, and binding upon all beneficiaries under this Trust Agreement; ft) flat the Trustee was duty authorized and empowered to execute and deliver every such deed, trust deed, lease, mortgage a other instrument; and ldt if a conveyance has been made ro a successor a successors in trust, that such successor or successors in trust have been properly ap- pointed and are fully vested with all the title, estate, rights, powers, authorities, duties and obligations of its, his or their predecessor In tent. i 1. This Trust Agreement shall not be plied on record in the county. in which the real estate is sitwted or .elsewhere, but if for any reason same is so recorded, such recording shall not be considered as notice of the rights of any person hereunder derogatory to the title a powers of the Trustee. 12. The Tnntce may at any tune resign by sending s notice of its intention so to do by registered mail to each of the then bertefi- c~a.ies hereunder at his or her address last known to the Trustee. Such resignation shall become effective ten days after the mailing of such notices by the Trustee- In the event of such resignation, a successor a successors may be appointed by the person or persons then entitled ~ hereunder to direct the Trustee in fire disposition of the trust property, and the Trustee sl+alt thereupon convey the trust property ro such successor or successors in trust. In the event that rto successor in trust is named ss above provided within ten days after the mailing of such notices by ti+e Trustee, then the Trustee may corwey the trust property to the beneficiaries in accordance with their respective interests hereunder, or the Trustee may, at itz option; file a bill for appropriate relict in any court of competent jurisdiction: The Trustee, notwith- startd+ng such resignation, shall continue to have a first lien on the trust property for its costs, expenses and attorneys fees and for its reasonable compensation. - " i 3. That every successor Trustee or trustees appointed hereunder shall become fully vested with all the estate, properties, rights, powers, trusts, duties area obligations of its, his or their predecessor. , T4. That in the event any property shall be remaining in this trust twenty 120 lyears from this date, it shall be the active and sffir- ~ mauve duty of said Trustee to sell and dispose of the same at public sale to be held by it as expeditiously as possible and on reasonable 6d-;. vernsement and on reasonable notice to the then beneficiaries hereunder, and after deducting its reasonable fees and•expenses, it shall divide k the proceeds among said beneficiaries as their respective interests may then appear. ~ ~ I ' 1$. This Trust Agreement shall not be deemed to be, create or evidence the existence o1 a corporation, de facto or -de jure, or a Alsssachusetts Trust or association in the nature of a corporation, de facto or de jure, or s co-partnership or joint adventure by a between the Trustee and the beneficiaries hereunder, or by a between the beneficiaries hereunder. This Trust Agreement shall be deemed to create only a co~r+man•taw trust; and the rights and obligations of the beneficiaries hereunder shall bt solely those of co-owners of the earnings, ava+ls and proceeds of said real estate. No beneficiary hereunder shall have arty authority to contrxt for or in the name of the Trustee or any other beneficiary, or to bind the Trustee a any other beneficiary personally. • . _ i6 The Trustee may, at its sole election, procure and pay for public liability insurance to aswre and indemnify itself against claims of thud pe+SOns, in such a*naurts and in such companies as it shall reasonably select and determine, in which policies of insurance the benefi- c+aries hereunder shall also be nor-ned as beneficiaries and insured thereunder, as their interests may appear; and the beneficiaries hereby covenant and agree to pay to the Trustee the costs of such inwrance upon demand. 17. This Trust /.g•terr+ent contains the ent+re agreement between the parties hereto, and shall not be terminated, amended or wppk- meraed except by another agrr_ment in writing duty executed by the Trustee then xtirtg and by all of the then existing lrenefit:isries t hereunder. 1 S- This Trust regiment shall for all r I A9 pu poses be deemed to be executed under and to be orb"ect to and construed in accordance wish tt,t to»s and statutes from time to time effective and in force in the State of Florida. ~ 19 Cap+cs cf this Trust Agreement o. any amendment or wpplement thereto certified by the Tr~stec to be true and correct copies of i the aig+nal Trust Agreement or any amertdntent or wppkment thereto shall be satistxtory evidence thereof for all purposes. `r r 20. Said Trustee shall receive for its services in accepting this tent and in taking title hereunder the win of s ?O. 00 alsp the sum of ~3S•~~ per Year for holding title abet the_~_.day of t~ 19 ~ so long as any property rema+ns in this trust; also its regular schedule of fees for causing deeds, mortgages, leases and/a other instruments to be executed as may from time to trine be required hereunder, and if shall receive reasonable compensator for arty special services which may lx rerdere~ by it hereunder, or for raking and holding any other properly which may hereafter be deeded to it hereunder, which tees, charges cr other compensahOn, the btnefrcianes hereunder jointly and severally agree to pay, and it is hereby understood and agreed that g all wch lees and compensstwns shall constitute a tint hen on the rat estate and property held hereunder. ~ ! ¢ " bOflK Jew PIGf . - t ~ ~:.tea - -