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HomeMy WebLinkAbout2190i the Trustee of any such transferred certificate; v1-ereupon, the Trustee shall execute and deliver to such transferee or owner a new Land Trust Certificate representing the interest in the trust estate so conveyed or retained. Any grantee of any such interest, by accepting such certificate shall thereby become a party to this Trust and be bound thereby and entitled to all the rights thereunder. The Trustee slay treat the registered owner of any certificate as the absolute owner thereof and shall not be bound by any notice, actual or constructive, to the contrary. The Trustee shall have the power and authority to transfer, sell, assign or encumber any of the assets of the Trust upon the nrritten consent of the owners of Land Trust Certificates representing in excess of one-half (1/2) the beneficial ownership of such Trust assets. The Trustee shall not be liable for any error of judgment, or for any loss arising out of any act or omission in the execution of this Trust, so long as it acts in good faith. ARTICLE X The Trustee shall not be liable for any mortgage payments or any other expenses incurred under this agreement. Each owner of a Land Trust Certificate shall pay his prorata share of any mortgage payments or any other expenses incurred by the Trustee under this agreement. ARTT(`i_R YT The Trustee shall distribute to each owner of a Land Trust Certificate his prorata share of any income or monies received (not herein provided) by the Trustee in the exercise of its duties under this agreement. -5 ^Y < -4- bo~344 PaGE~~O~ ~r;.