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<br /> DD ��c� ° ��0�� �Oo o ��3
<br />_ �257T0—K1oDD Printing Co..OmaLa �,- _ _- � .-- --
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<br /> �hat no such loan shall be contracted for ,so that the aggrate amount of such loans outstanding j
<br /> . shall at sucn ti��ne exceed,in the judgment of the '�rustee ,t�venty-five per cent of the value of
<br /> the total amount of the personal property of the Trust Fund. ,
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<br /> Vlll. �
<br /> The execution of all contracts ,of all conveyances and tra.nsfers ,and of all other instru�nents '
<br /> , relating to the Trust Fund or any part therec�f ,by the Trustee ,ahall always be sufficient.No i
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<br /> purchaser,Iender ,corporation,association,or officer or transfer agent thereof,dealin� with said ;
<br /> Trustee ,shall be bound to :�ake any inquiry concerning the validity of any sale,purchase ,mortgage �,
<br /> loan,or purchase purporting to be made by
<br /> Declaration of '�rust page 3 '
<br /> tne Trustee ,or be Iiable for the application of money paid or Ioaned. Copiea of aIl Aocuments �
<br /> and records in the custody of such Trustee ,duly certified,and certificates as to who is the �
<br /> ; Trustee ,and wtio are the beneficiaries or the like,duly signed by said Trustee,shall be conclusive�ly
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<br /> upon alI questions as to title or effecting the rights of third peraons ,and in general shall havq
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<br /> all the effect of their originals.
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<br /> iX. �
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<br /> The �rustee may with the consent of the beneficiaries ,appoint an agent for the transaction of �
<br /> ; the busineas of the trust. The c�mpensation of the Trustee shall not at any time e�ceed an amount'
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<br /> calculated on the basis of the following �fees viz: Acceptance fee Five Hundred and- Fifty (�Gj50.Od)
<br /> Dollars; an annual fee of one ( I) pex cent of the gross inco�ne of the Trust Fund; for trans�ers ;
<br /> ' of certificates one-twentieth (I/20) of one per cent of the value of sucn certificates transfered;�
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<br /> and a reconveyance fee of one-twentieth (�./2J) of one per cent of the value of said Trust Fund. ,
<br /> ; X.
<br /> The �rustee sha11 distribute the net income of the 'Trust Fund among the beneficiaries quarte�ly,
<br /> ' or ofte ner,if convenient with the Trustee. The `�rustee may set aside from time to time ,with thq
<br /> ' eonsent of tne beneficiaries ,a portion of the net income ,for a Surplus Fund. �
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<br /> � X1. �
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<br /> The Trustee sha11 render an account a.nnually or ofte ner ;if convenient ,and shall ,upon request ,�
<br /> i deliver or mail a copy to each beneficiary. ;
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<br /> � X11; }
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<br /> � The '�rustee may resign its trust by a written instrument signed and sealed by said Trustee , ;
<br /> and a cknowledged in the manner pres cribed for the acknov�ledgments of deeds ,and sucn intrument
<br /> sha,ll be recorded in the office of the Register of -Deeds for the County of Ha.11 ,State of Nebrask�.
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<br /> Declaration of Trust Page 4
<br /> Any vacancy from any cause at any time in the office of said Trustee shall be filled by the �
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<br /> beneficiaries.
<br /> The term '+Trustee" used in this agreement shall be deemed to mean the Txustee who is or rnay ;
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<br /> be Trustee for the time being. '
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<br /> The Trustee sha,ll be responsible only for its own wilful and corrupt breach of trust ,and not :
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<br /> ` for any honest error of judgment . The Trustee shall not be required to give a bond. i
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<br /> ' X1V. ;
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<br /> . Notices delivered-personally ,or mailed with prepayment of postage seven days beforehand to an
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<br /> ' beneficiary or his attorney duly designated f�r the purpose ,at the residence stated by him or in , '': -
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<br /> � the certificate,or other address given by him or them from time to time to the Trustee, shall '
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<br /> � be binding. XV. �
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<br /> The Trustee shall issue certificates to Charles D. Armstrong,Alexander Beck and Herbert S. (
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