1984-04-02 - ASSESSORS' DEPART ME
Location 41 APPLETON ST Block MAP 27 Lot No 2 0 5
Cert. No. Doc. No.
Recoorrded c � Rook 734 7 Page y9 �
Re y-
Consideration a lt
DtED
/ Buildings mentioned GRANTOR
Description: /� f� `7—
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GRANTEE
Reference to title: {B.
F,an�Sf by Same Part of Premises, P.
PI. No, Pl. Cert. No.
From
Rec. R 1! 9O P. /oc To
Lorsa/
Date
BK6597 PG314
i
WHEREAS, Charles D. Sinclair of Salem, Essex
County, Massachusetts, is about to hold title to real
estate in Salem, Essex County, Massachusetts, namely
43 Appleton Street.
NOW THEREFORE, I , the said Charles D. Sinclair
declare that I shall hold said real estate and any and
all real or personal property which shall in the
future be conveyed, transferred, or acquired by me as
Trustee hereunder upon the Trust herein set forth for
the benefit of Thomas Sinclair of Salem, Essex County,
Massachusetts.
1 . The name of the Trust shall be "Sinclair
Family Trust" , hereinafter referred to as the Trust.
2. The Trustee shall be the said Charles D.
Sinclair , hereinafter called the Trustee, but nothing
in this paragraph shall prevent the later appointment
of successor or additional trustees .
3. The Beneficiary shall be the said Thomas
Sinclair. This named Beneficiary shall be the only
Beneficiary, except in the event of resignation, and
no shares in the Trust are authorized under the
Declaration, nor is the Trustee to issue any shares.
II
BK6597 e(, 315
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j 4 . The Trustee shall have entire control and
II management over the property to be held under the
i
Trust. The Trustee or Trustees shall have no limita-
i! tion upon their ordinary powers as Trustees and amongst
other powers they shall have the power to receive and
I! hold real and personal property for cash or credit by
! public or private sale; to partition; to receive an"'
i collect all interest, resits, dividends, and any other
li income on the property held by the said Trustee; to
pay any liens, claims , indebtedness or other obligation
against the said property; to pay from the Trust
income such expenses as the Trustees may in their
discretion deem reasonable; to borrow money for the
purpose the Trustees shall deem reasonable and proper
(� in their discretion; and to secure such sums borrowed b
pledging assets of the Trust as security; to make any
improvements, changes or alterations in or upon the
I
real estate; to, sign, seal , acknowledge and deliver
deeds, mortgages, assignments, partial releases,
discharges or mortgages; leases for a term of
Ininety-nine (99) years or less; and agreements concern-
I ing the transferring or assigning of the property to
i
l be received by the Trust or any part thereof . No
purchaser, mortgagor, or person dealing with the
'trustees shall be required to look to the application
it
of monies paid to the Trustees . The Trustees shall hav
�I
I'
r
BK6597 PC; 3 1 F
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full power in their discretion to buy, sell or, mortgage
any or all of the assets which they hold under the
Trust for any consideration that in their sole ,
discretion they deem proper .
5 . The Trustees shall from time to time in
their discretion distribute the net income from the
Trust to the Beneficiaries and Trustees shall account
to the Beneficiaries every three ( 3) months.
6 . In the event of death or resignation of a
Trustee, the Trust shall terminate hereunder, or the
Settlor, Beneficiaries , Trustees hereunder may termin-
ate this Trust at any time. No termination by the
Settlor, Beneficiaries, Trustees shall be effective
unless the provisions of Paragraph 7 below as to
alteration, amendment, and revocation are complied with '.
7 . The Settlor, Beneficiaries, Trustees reserve
the right to alter, amend or revoke at any time and
for any reasons they deem fit, but in any event the
Trust will terminate in four (4) years from the date of
this Trust instrument. However, no such alteration
amendment or revocation shall become effective until
an instrument evidencing such alteration, amendment
and revocation shall be signed, sealed and acknowledged
by the said Trustees , Beneficiaries, Settlor and
recirded with the Essex South District Registry of
Deeds.
r
1
BK6b97 PA 17
8. Upon the termination of the Trust, all of the
i Trust property, both real and personal , shall become
the sole property of the Beneficiary, free from trust.
0 9 . The Trustees shall not be personally liable
for any error or judgment or for any loss arising out
of any act or omission to act in the execution on any
of the powers conferred by this Agreement, so long as
they act in good faith. No Trustee shall be personally
liable for the acts or omissions of the other Trustees,
nor for the acts or omissions of any persons appointed
by them to assist in the execution of the Trust. All
persons dealing with the Trustees shall look only to
I the Trust property for the payment of their claims,
i and every instrument to which the Trustees shall be
I� parties or on account of which any liability may be
chargealbe against the Trust Property shall in
I�
substance so provide.
IN WITNESS WHEREON', I , the said Charles D.
I Sinclair have executed this instrument on the
I
L day of 1979 .
CHARLES D. SINCLAIR
COMMONWEALTH OF MASSACHUSY
TTS
ESSEX, SS. `11 ` `� , 1979
Salem, Massachusetts
Then personally appeared the above-named
Charles D. Sinclair, and acknowledged the foregoin
j instrument to be his free apt. and deed, befiore me
�i Notary Public i
� My commissi � e4p4es: /U//6
i
1'SSEY SSjI RECORDED _ ___?� 1J79_�� 1�'I. PA T 11_Z)__M. INST. # 4
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