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HomeMy WebLinkAboutScan_1097 -136 ~ 12. It i8 not intended to oreate hereby an, relation of partnershIp or of ageno;y among the Tr'uhes or between the Truatees and the oestul que trusts, or among the . oestui qu. trusts, or between aDJ or all of the oestui que trusts; but the title to eyery J several Item of the property oonstituting the trust estate shall be vested solely in the l'rusteesi' and the oe.tul que trusts, Jolntl;y and severally, shall have no legal or equitable t1 tle, tight-: In interest in or to any several item thereof. 'l'be right of the cestui que 1 nats shall relate only to tabe net distributable prodeeds ot the l1,quidation Of the trust, and, meanwhile. to the inoome from the adminIstration thereof. 13. !he Trustees shall have no power to bind the oestui que trusts person- ally by any act, negleot or default, and no oestui que trust shall be personally liable as 'a partner or prinoipal, or otherwise, upon aooount of any express or implied oontraot made by the Trustees, or made in any way in behalf of the trust eatate, or UFon aooount ot any tort oommitted by the Trustees, or by any offioer, agent or servantaoting under them or in their behalf. or in any way oonnected wi~h this trust or its administration; but all oertui que trusts and all persons, firms, corporations and associations extending oredit to, oom- t!aoting with or having any claim against the Trtstees, of any ohaxaoter whatsoever, whether legal or equitable,-8nd whether arislng out of con~ract or tort, shall look only to the funds and property of the trust estate' for J:6yment or for indemnity, or for the J:6Ylllent of any debt, damage, judgment or decree, or any money that otherwise may become due or payable from the Trustees, so that neither the Trustees, nor any of its offioers or agents appointed by the~ h~!e"n1~r, n~r the ce~tu1 go: trunt~. 3hall be paraonally 11atle th&l&for. 14. The Trustees shall, on entering int? contracts and in the execution of notes, bonds or other written instruments obllgatory upon the said estate, set forth in appropriate terms that the said instruments are not entered into by them, nor any of them nor blndlng upon thee. nor any of them, individuall), but only 6S Trustees of this estate, ] and oontracts or oblisatione are to be satisfied or preformed out of the asse*s of said trust estate only. But the failure or negleot of suoh Trustees t1ro declare in any instrument, contract or obligation entered Into for the purpose of oarrying out the objeots ofaaid trust. shall Dot be construed to render said Trustees, or any of them, individually liable thereon, but the same shall be obligations binding upon and preformable only out of the 88sets of said trust estate. 15. All written conveyances of real property, at whatever ti~e taken by the Trustees as such, shall name as grantee the Trustees ~d shall designate them as rrustees under t his Declaration of Trust, referrin.<:. to the same by its book and page record in the office of the Recorder of Deeds in the office of the Clerk of the Cirouit Court of 3t. Lucie County, In the City of 10rt Pieroe, 1l0rida. 16, This Deolaration of Trust and all mcdlfloations there of shall be recorded in the office of the Reoorder of Deeds in the office of the Clerk of the Circuit ! Court, in 3t. Lucie County, llorlda, and in'suoh other places a9 the Trustees, may in their deaoret!on, 110m time to time, determlne to be neoessary or expedient, and they shall in ~ik. manner determine the form and record ot all muniments of title. 17. The death of any cestui que trusts shall not terminate the trust nor enti~- I ~'lht8 legal re~resent~tiveR to olaim an aOQount or to tate any aotion in the oourts, or otherwis,. against the trust estate or -the Trustees, but the exeoutors. administrators or assigns ot the decedent shall Buooeed to all the rights of the deoedent under this instrument u~on ,P1'oduoil18 the certifioate ot benefioial interest. 18. !he death of a benefioiary or~of a Trustee during the oontinuanoe of ;;;,;~~.~..t.\.:'.. .:.~)+:~;:~;'.