| OCR Text |
Show The Trustees hereunder and as they may change in personnel, as provided herein, shall, in their collective capacity, be construed to be the Board of Trustees. The Board of Trustees shall not at any time exceed five (5) in number, and the Trustees herein named, associate Trustees they may elect or appoint to increase their Board, and possible successor Trustees, from time to time elected or appointed to fill vacancies as they may occur, shall hold their Trusteeship and joint tenancy Ownership of — Estate properties in continuity, for the full life or term of this contract, unless removed by death, resignation, court order or a majority vote of their Board members for incompetence, fraud or gross neglect hereunder, Whenever vacancies occur the remaining Trustees may continue alone or they may elect new Trustee or Trustees Board be vacated, a to fill vacancies, Court of competent and should the entire jurisdiction may appoint Trustees. Whenever any such newly elected or appointed Trustee or Trustees shall have formally accepted such election or appointment, the Legal and Equitable Title to the Estate properties, real and personal, shall rest in the new, together with the continuing Trustees, in joint tenancy and continuity, and not as tenants in common, and without any further act or conveyance. All resignations, removals, elections, and/or appointments pertaining to Board membership and Property Ownership shall be inscribed in the records of the Board of Trustees. ART. &. BOARD ACTS AND MEETINGS: The Trustees may act together informally over their individual signatures or in their Tpade Name through duly authorized Officers of their Board. Names of Officers, duties, appointments and authority delegated shall be duly described and inscribed in their Office Records, and the individual Trustee hereby agrees that the Board may authorize and delegate to, by proper resolution, any member or members of the Board of Trustees, the necessary authority to transact any and all business of the Trustees, including that which is necessary or incidental to the execution of deeds, conveyances and other instruments in writing on behalf of the said Trustees. They may, by unanimous resolution, provide for holding perlodical meetings without notice, and special meetings may be called at any time by a majority or by officials giving five days written Notice to each Trustee. At any such regular or special meeting a majority of all the Trustees then constituting the Board shall constitute a quorum, their acts to be final unless an absent Irustee shall file a protest in writing with the Board secretary within five days after receiving notice of such enact— ment. Such protest can be set aside or overruled by a majority of all the Trustees then constituting the Board of Trustees. ART associate eco POWERS: Being Natural a nd/or successor Trustees, (4) Persons shall these organize Trustees, themselves their |