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HomeMy WebLinkAbout1981-08-17 Legal Documents DEF SUB t FARMER 9TRKET TRUST DECLARATION OIL TRUST Aatodi i benjamin C. Osgood of Esaex County, North Andover, Massachusetts ' a and Joeaplt J. Aarbagallo of Middlesex County; North Reading, Massachusetts, hereby declare that they and their nucconnors in trust will hold any and All property that may be transferred to them an Trustees r'C hereunder, for the solo benefit of the persona lintel in the Schedule :i of Beneficiaries in the proportions sated thereon. This Dockaration J. of Trust shall, bo recorded with the RudOX County North Registry !' of Doedo and, if registered land is involved in that County, in , g j 1 1 the nanox County Registry Northorn Dintrict of the Lard Court i ?' (together hereinafter samotimen referred to as "said Registry of 1 f $. The Trustees, but only when specifically Authorized and ' ' directed by the Bmnoficiarion, shall have full powor and authority to arraign, transfar,' sall," mortgage or Otherwise' dispose of all or any part of the trust property, to grant leases or options covering any part. or all of such property, and to grant discharges and partial xslaapes of mortgagee, All for such consideration and , 3 41, i t 11 I .... -�-..,_....� ti..wad�n�.s,� awr.sw.aw+.iuWx•s.M ls�aN w�.Wn�r+nron.+...n , �',�•1 I I s � r r • i a: ! I f � j h 490002-P I z upon ouch terms and conditions as the Trusteed, acting with such authority and direction, shall doom proper, 3. This xrunt may be terminated at any timo by the Bo- called Beneficiaries or any one or more of them (if there should x � I, k be more than ono) , by notice in writing to the Trustees, or by the ; Trustees by notice in writing to the Bonoficiariosl and this Trust shall in any event terminate (if it has not proviously been terminated) twenty (20) years after the data of this instrument. In case of any such termination, the Trustees shall transfer and J 1 P: convoy the entire trust estate, subject to any leases, martgagenr r� contracts, or other encumbrances, on the trust estate, to the Beneficiaries designated in said Schedule of Beneficiaries, or in case of any amendment thereto signed by all the Beneficiaries, to the Beneficiaries designated in such amendment, in proportion to their, respective interests as net forth in said Schedule or in any such amendment. S i y 4. Any vacancy in the office of Trustees now hold by said Ire r ems ; fir' 1 ' Benjamin C. Osgood or Joseph J. Rarbagallo shall be filled by a s persdn' or entity appointed by a majority in interest of the Sri } El r Beneficiaries as they appear on the aforesaid Schedule of Beneficiaries as amended from time to time, by a written instrument signed by them. Upon any vacancy in the office of s1 - Trustees, the successor Trustees shall accept appointment as f M.K r a Trustees in writing, and shall record said acceptance in said � 4 Registry of Deeds. A statement by such successor Trustees kt r in said recorded acceptance that they have been duly appointed no A ~ Trustees pursuant to the foregoing provisions of this Clause 4 x r � i dl5 } r: � } 4.a. B tt,, C ttt i r � Lo1,L 490002 IV k I. shall bo conclusive evidence of thou qualifications as Trustees # t hereunder. I Vacancies may be filled by one or morn persona, but no ,,{: j ' vacancy shall occur as long as one person is carving as Trustee �•?'"' hereunder, and the than 'trustees shall refer to the person serving as Trustee lioraundor if only one person is serving. Any 'trustee may resign by a written instrument signed and acicnowlodged by ouch Truatoo and recorded as aforesaid in said ` Registry at seeds. Upon the appointment of any successor Truatoo or Trustees, ` e trust estate shall thereupon_ and without the the title to th necessity of any conveyance be vested in void successor Trustee or Trustaas. Any successor Trustee or Trustees shall have all the same rights, powerv, discretions, exemptions and privileges as if named as the original Trustee or Trustees hereunder. Wo Trustee hereunder shall be required to furnish Goy bond, 4 surety or security'. S. Except as hereinafter provided, the interest of any nnnoliciary horoundar xhall be aosiynablQ as intanc1iblo puxaonal p_roporty, No nonofioiary may assign any intoroat horoundsr jy without first notifying tho Trustees and obtaining the written t consent of the Trustees. The Trustees need not recognize any assignment unless the Trustees consent in writing to such assign- t`:; Mont, Hotwithatanditig the foregoing the interest of any Bono- the daath 'or legal incapacity of fioiary hereunder shall Paso on 1 , at , 132 49000-2 ; t a Donoficiary to such Beneficiary's legal representatives, but the Trustees need not recognize the rights of such Dene3ficiary's legal representatives until the Trustees have received notice of, and evidence of, the appointment of such legal representatives. `✓.,}, �', Any person may rely on the certificate of the Trustees as to who are the Beneficiaries of this trust, and such certificate shall <..,nj,.,.' i be prepared on the basis that any assignment which in prohibited sr? y or need not be recognized under the foregoing notice and consent 771[[t provisions is ineffective for all purposes. {' 6. This Declaration of Trust may be amended from time to time by an instrument in writing signed by the then Trustees and all of the Bono£iciariou, provided in each case that the instru- ment of amendment, or a certificato by the Trustees setting forth the terms of such amendment, acknowledged by the Trustcas, shall be recorded as aforesaid in uaid Registry of Deeds, 7, If any Beneficiary liated in the aforesaid Schodula of E Beneficiaries in a Trust, the rights and powers of said Denefir ciary shall be exercised by all of the Trustees under said Trust hS or by such of them no are umpowored by the Trust instrument to act on behalf of the Trust. a. Every written contract mado by the Trustooa shall rofor to this instrument and may rotor to thin Trust as the "DAW;R STREET TRUST". My person contrasting with the Trustees shall ` look only to the trust estate and not the Trustees individually, ' or to any Beneficiary, for payment or performance of any debt or yother obligation of thin Trust. i 3 R 5 I , E` j " Ii II P 3 BH1.505 P 49000-2 i 9. No Trustee shall be liable for any error in judgmant. + ti Each Trustee shall be linbin only for hie or her awn willful act© For omminaians in bad faith. Each Trustee shall be entitled to in domnifieation by the Trust with respect to all liabilities, } claims, actions +end the like arising against or upon ouch Trustee i in the exercise of his functions hereunder.' i r {, � No license of Court shall be requisite to the validity of any transaction entered into by the Trustee, and Trustee shall have full power and authority (subject to the direatiana and approval.of the aonoeicioriaa) to execute, aeknawlndgo and deliver all contracts, dooda, and other instruments necessary or proper to put such transactions into effect. No purchaser from i the Trustee, nor any person, firm or corporation dealing with the . Trustee, shall be under any obligation to see to tha application } of any money or property paid, delivered or loaned to the Trustee, ! i'. or to see that the terms and conditions Of this Trust have been complied with. Every instrument executed by the person who, according to I+ ': ! the records in said Registry of Deeds, appear to be the Trustee hereunder, shall be conclusive evidence in favor of ovary person C. relying thereon or claiming thereunder that at the time of the delivery thoreof thin Trust was in full farce and effect and that f such Truatoo was duly authorized and directed to execute, acknowl- edge and deliver the same. Any person dealing with the Trust property or the Trustee may always rely on a certificate signed . by the person appearing from the records in said Registry of , i Qr: �f , t: • 490002-Y i< 134 �I i ' Deeds to be the Tru9too horeunder, aG to whether or not this s Declaration of Trust has boon terminated, an to who are the ' Beneficiaries heroundor, or aG to the existence or nonoxiatenee E of any fact" or tact relating in any manner to the power and i authority of the Trur�te© or to any other matter uffocting the i Treat instrument or the Trust property. . . . .. IN WIT14ESS W119REOP, said f3onjamin C. ongood and Joseph J, x ` � ° t3arbagallo Truutocs, hereunder, have oxoouted thin in»trument under �� ' Goal this ISrN day of may 1901 i2 coMMONWGALTH bP MAs5APIUSUTTS� MaGsachusetto i !S � 19a1 Then peroonall.y appeared tho above-named Danjamin'c, ongood and acknowledged the foregoing instrument to be his frog act and deed; befOr4 me. , ntary Pug�rc � �� Ali•. r ' :� iran1 y � �• tM commission cxp ,��q`Fii'n:;poraonally appeared tho abovo^named Joneph J. narbagalla and aeknowlodged the foregoing instrument to be his ¢xeo net and 1 deed, bof'ore ma. oo 9.1tYy^ 11� O reek My commission expi {`a .fix �'r� k .'. .d';Ss 5� ,?'':• �.{.. IjA V ' 4 1 m �3K15O5 690002-P fr DARKER STREET TRUST P �. Datodi , 1901 SCHEDUIE OFF BENEFICIARIES Deneficiaryt Percentage Interoats Benjamin C: Osgood ) 33 1/3% Joaeph J. Rarbagallo ) 33 1/31 P. Stanley Davin ) as Tenants- 16.665% { George D. Gtorn ) in«Common 16.665% ,1 Truatoens Deneficiariesc ( Don min C. Oagoo Ue m n-C;png� �J013VPII Garbaq (. dG Y serge S ern �y d P. Stan ey Dtv L a Recorded May 21,1981 at 11:22AM #4915 i -7- f 1 K � yip i Wage 1 of 7 �s,,. r0 RM I COVENANT Know all men by these presents that wh reas the undersigned has submitted an application dated /' =� Z'� to the North Andover Planning Board for approval of a definitive plan of a certain subdivision entitled "FRENCH FARM VILLAGE" and dated 7/13/81, revised 3/16/81 and has requested the Board to approve such plan without requiring a performance bond. NOW THEREFORE, THIS AGREEMENT WITNESSETH that in consideration of the North Andover Planning Baord approving said plan without requiring a performance bond, and inconsideration of one dollar in hand paid, receipt whereof is hereby acknowledged, the undersigned covenants and agrees with the Town of North Andover as follows : 1. The undersigned will not sell any lot in the subdivision or erect or place any permanent building on any such lot until the construction of ways and municipal services necessary to serve adequately such lot has been completed in the manner specified in the aforesaid application, and in accordance with the covenants, conditions, agreements, terms and provisions thereof, 2. This agreement shall be binding upon the executors, admini- strators, devisees, heirs, successors and assigns of the undersigned. It is the intention of the undersigned and it is hereby under- stood and agreed that this contract shall constitute a covenant running with the land included in the aforesaid sub- division and shall operate as restrictions upon said land. It is understood and agreed that lots within the subdivision shall, respectively, be released from the foregoing conditions upon the recording of a certificate of performance executed by a majority of. said Planning Board and enumerating the specific lots to be so released, all as provided by Section 81-U, G.L.c.41. 3. The undersigned represents and covenants that undersigned is the owner* in fee simple of all the land included in the aforesaid subdivision and that there are no mortgages of record or other- wise on any of said land, except such as are described below and subordinated to this contract, and the present holders of said mortgages have assented to this contract prior to its execution by the undersigned. *If there is more than one owner, all must sign. i Page 2 of 7 FORM I IN WITNESS WHEREOF the undersigned, applicant as a _presaid, does hereunto set his hand and seal this r day og 1982 y, FOR IBARKER �S . T TRUS y Received by Town Clerk: Applicant's signatuKgv.>/ = Date Applicant's address �1c ', ~ Ti11Se _ 397 Andover St. , No. Andover, Tia, 01.845 Signature Owner's signature and address if not the applicant Description of Mortgages : to Andover Savings Bank at N.E.R,D. Bk. 1577 Page 243 to Brian Steinberg, Lynne Steinberg, Michael Steinberg, and Richard Steinberg at N.E.R.D. Bk. 1577 Pg. 248 (Give complete names and Registry of Deeds refe)-ence. ) Assents of Mortgagees : COMMONWEALTH OF MASSACIIUSETTS s s 7 44 .9 Then personally appeared the above named Joseph J. Barbagallo and Benjamin C. Osgood, Trustees of Barker Street Trust and acknowledged the foregoing instrument- to be their free act and deed, before lie. r' ! Notary Public $zna 'Iea 'erl. <, My conunission eh 1Y�-xes . r . Page 3 of 7. ASSENT OF MORTGAGEE ANDO'VER SAVINGS BANK BY A sista t Treasurer COMMONWEALTH OF MASSACHUSETTS ESSEX, S5, DATE: June 15, 1982 Then personally appeared Richard H. Mower, Assistant Treasurer and acknowledged the foregoing to be the free act and deed of the Andover Savings Bank. Before me, Brenda A. Kanbar '' Notary Public r My commission expires: Page 4 of 7 ASSENT OF MORTGAGEE 'Brian Steinberg � f STATE OF V9_J\rl`i 1982 Then personally appeared the above named Brian Steinberg and acknowledged the foregoing instrument to be his free act and deed before me 1. � ✓.. Pew l `1 otary Public My commission ex �° �'`�� JEAN C. GANNONE, I�tary, Ul ai >- Norristown, Mon€gornery,Qb,-,Pal a My Coininission Npiros Aofif-, 1„ V Page S of 7 ASSENT OF MORTGAGEE 4LYieSteinberg STATE OF MASSACHUSETTS • � f ss . 1982 Then personally appeared the above named Lynne Steinberg and acknowledged the foregoing instrument to be her tree act and, deed before me Notary P li.c MY commission expires : ,r 7 0° o r.� I i 1 Page 6 of 7 ASSENT OF MORTGAGEE /L.46! c Michael Steinberg COMMON14EALTH Or MASSACHUSETTS 1982 ss. �`: j���IiLc_c % r / Then personally appeared the above named Michael Steinberg and acknowledged the foregoing instrument to be his free act and deed before me Notary Public My commission expires : ..jig"y{�• o-, r r 4.. Page 7 of 7 ASSENT OF MORTGAGEE Richard Ste' erg STATE OF CONNEGTICUT / �� ss S. �/�� ric;E��•�°?, �, �r�tt' � 1982 Then personally appeared the above named Richard Steinberg and acknowledged the foregoing instrument to be his free act and deed before me C L-e_ Notary Public {, My commission expires . Recorded, July 19J982 at 11 :56PM //7020 MY.Commission Expires March 31t'196A,' ,' ' 7 � VIRGINIA SPILLANL HEATE,N ATTORNEY-AT-LAW 26 CHESTNUT STREET ANDOVER, MASSACHUSETTS 01810 (617) 475-0228 July 21, 1982 Attorney Paul Hedstrom, Chairman North Andover Planning Board 120 Main Street North Andover, MA 01845 Dear Attorney Hedstrom; The ench.Farm Subdivision Ian and the covenant running with the sub av1s on 1 were recorded at the North Essex Registry of Deeds on July 19, 1982. The original covenant will be sent directly to you by the Registry after the completion of the recording process, which takes about six to eight weeks. In the meantime, enclosed for your records is a certified copy of the covenant recorded at Book 1591, Page 65. The plan number is 8926. Please feel free to call if you have any questions. Very truly yours, a Virginia Keaten VSK/dbg Enclosures cc: Benjamin Osgood Joseph J. Barbagallo BOUNDARY DESCRIPTION FRENCH FARM VILLAGE The subject site is bounded on the north by land N/F of Carrier Barker and George Barker; on the east by land N/F of the Town of North Andover; on the south by land N/F of Thompson, Stella Sobel and J. Albert Bradley Trust, Driscoll, and Haphey; on the west by Starmard Realty Trust, Haphey, and the easterly sideline of Osgood Street and Barker Street to the point of beginning and containing 77 . 7 acres, more or less . 1'OR.1... D 'DFSL,qB S CERTIFIOATE 7u 1 y 13 -019„ 81 y To The Planning Board of the Town of North Andover : In preparing the plan entitled Same as Form I hereby certify that the above named Plan and accompanying to the accuracy required by the data is true and correct current Rules and Regulations Governing the Subdivision of Land in North Andover, Massachusetts , and my source of •� cation of boundaries shown on sa information about the ia id plan were one or more of the following ; to a rr ty Tri,G+- 1 . Deed from_�1brt ' " dated 6 7 and recorded in the—� Norte Essex Registry in Book 1172 , page 587. 2. Other plans, as follows N,E.R.D. fans 4340 8286 7295 .'f 1814, 2271 , 2342 , 5230, 1798 1530 5229 and the 1961 State Eiigbway Alteration of osclood Street. -} f 3 , Oral information furnished by 4 . Actual measurement on the ground from a starting point established by Existin monuri�entati n � . � 1 mentioned Ian ' 5, Other sources Perimeter Su ' t ' Signed (Registered Professional Engineer or Registered Land Surveyor) (Seal of Engineer Inc. or Surveyor) 451 Andover Street ►>� OF M v north Andover , i — s��Pti Ad d re s s FRANK ter, .'� GELrNAS cn tjfl, 22738�Q��