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79004149
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1/13/2010 1:30:40 AM
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1/13/2010 1:30:27 AM
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DEEDS
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79004149
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<br />79-- U U ~ 14 3 <br />The Trustees shall not be liable iur any loss ur ~xprnse snffcred by the 'f rust <br />estate and arising out of the conduct by the '1'n~stces of any business held by the <br />Trust estate, including any corporation controlled by the Trust, except such less <br />or expense as shall have heen occasioned by the 'Trustee's gross negligence. <br />Notice is hereby given to all persons, companies or corporations extending credit <br />to, contracting with, or having claims againsC TI1TS TRUST, that they must loak only <br />t~ the funds and property of The Trust for payment or for settlement of any debt, <br />tort, damage, judgment or decree, or for any indebtedness which may become payable <br />hereunder. <br />It is expressly declared that a Trust, and not a partnership, is hereby created; and <br />'thaC neither The Trustees, officers, or certificate holders, present or future, have <br />or possess any personal ownership in the property or assets of Said Trust, nor shall <br />they be persanally liable hereunder, as partners or otherwise; that no Trustee shall <br />be liable for the act or omission of a Co-Trustee, or any other person, whatsoever, <br />whether ewployed by such Trustee or not, or for anything other than his own, personal <br />breach of Trust. <br />The Bentficial Interests, as a convenience, for distribution are divided into Ohe <br />Hundred (100} Units. They are non-assessable, non-taxable, non-negotiable, but tracts-. <br />ferable; and the lawful possessor thereof shall he co~rstrued the true and lawful owner <br />_ thereof. The lawful owner may, if he so desires, cause his Beneficial Certificate to ' <br />~ be registered-with the Secretary of the Trust. <br />Said Beneficial Certificate entitles the holder thereof to a pro rata share of any <br />distribution of income distributed by the Trustees in their sole discretion, and to a '. <br />pro rata-share of the Trust corpus upon the termination of the Trust. Death, insolvency <br />ar bankruptcy of any certificate halder, or the transfer of his certificate by gift, <br />devise or descent, shall not opecate as a dissolution of THIS TRUST, or in any manntt ' <br />affect The Trust or its operation or mode of business. Ownership of a beneficial cer- <br />tificaCe shall not entitle the holder to any Icgal title in or to The Trust property, <br />nor any undivided interest therein, nor in the management thereof; not shall the death <br />of a holder entitle his heirs or Icgal representatives to demand any partitian or divi-. <br />sion of the property of The. Trust, nee any special accounting; but said successor maq <br />succeed to the-same distributional interest upon the surrender of the certificate as <br />held by the deceased for the purpose of reissue to the' then lawful holder ar owner. <br />Nothing herein contained shall be construed to authorize The Trust to issue Certificatet <br />of $enefiCial Interest in excess of the number herein provided, nor for a nominal value <br />at varianet with the provisions hereof. <br />This Trust is irrevocable and may not he altered or amended in any respect unless spe- <br />cifically authorized by this instrument, and it may not be terminated except through <br />distributions permitted fiy this instrument, <br />'r This Trust shall continue fora period of twenty-five years from d^te, unless the <br />Trustees shall unanimously determine upon an earlier date when they may at their dis- <br />cretion, because of threatened depreciation in values, or ether good and sufficient <br /> <br />J <br />L~ <br />
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