HomeMy WebLinkAboutCAMMAT REALTY TRUST ~ TOWN CLERK ,~
DECi2~i~:TION OF Ti;~T ~ ~
k'c, Gilbert G. Campbell, of Lowell, ~qid~%c::~,.-:: CourtLy
~ C.~arlcs T. i,i~tscs, of N~thuen, Ensex County, Mas;:~chuscu';-:.
...:~'~_naftc~" referred to as "Trustees") hereby declare that v/c a,,a
our ~uccc~sors in trust shall hold for the benefit of the share-
]~oldcrs hereunder, upon thc terms herein set forth, any and all
:/ropcrty which may be conveyed or transferred to us as Trustees
hereunder.
1. This Trust shall bc designated as thc
Cammat Realty Trust. ego O ~ '
Thc purpose of this Trust is to ac.quire, hold, improve, manage,
lease, rent, mortgage, sell and othc~vise engage in thc
of, rual estate and thc construction of building~ thorsen. Thc
Trustees shall cause this Declaration of Trust, as well as
m~nLs thcrcto, any appointments of new Trustees, any powers
agtorney and any other instrun]ents affecting this Trus'L, to be
recorded in the Registry of Deeds in the Registry District in
the Trust hold$ real estate, and shall also file thi:; Ducla~ati:}n
and any amcnchnents thereto in the office of the City or Tovz[A
in al! cities and towns in which the Trust has an usual plai2c
business, and in the office of the Secretary of State of th~'
wealth of Massachusetts.
2. The Trustees shall %lways bc at least two in
and the Trustees here~ngabove named shall hold office durin'~j utc
~x~s~encc of thc Trust, or until their c~trlic~r d~ath, di~abJ, hi~v
resignation. Any Trustee may remign hi~ t/us~ by a wr~'tbc,~ _,~..~a .....
slgncd and acknowledged by him anu recorded in the Kggistry
in cach Registry District in which thc Trusu holds real c:.:tag
vacanc5 occurring duc to thc death, disability or rcs~,jnati<n :... '
Trustee or ~uc to a decision of the Trustees to incrcasc th,_.
of 'frusuees, shall be filled by the rc:nainin9 Trustee or ?ruJ
%.,~h the consent in writing of at leant thr::c:-iourun.~ in ~rzt~: · ·
of thc shareholder:;, dpon thc appointment of a n<.w Tru:~tec ~-.
provided, and thc r=co~ding of a certificauu 5i%'.kca and ackn
:)-3 one of the r<: ....... nL..:j Trustees setting forth '-'~ ,. ~,:a=h or
o= she rctirinu Y/ELL,-~.: or the decision of l ..... ~.~u~Lec:; to inc~c:;-..
uhc nun~er of %h= yruutccs and the appoinumcn~ o2 ~ new Trustuc of
Trustees, thc TrUSt property shall i~.ediately vcsu in thc
or k'rustccu jointly with the remaining Trustee or ~,rujhecs, without
ut= nuctusity of any conv~:y;~nce. Any Trus'~...- mhv, ,>'3 power of
delegate his powers for a period no~ cxcec~zng ~i;.: luonuhs at any
time, to zny other Trusu~= hereunder.
3. (a) .z-__.~ -,~:~utces shall have ...... i~o~;cr and
(as if they were absolav.- owners) to lnves~c t.nd~ rcznvest tho
fund (including any i:'~c~ .... :_d suzplus) in real estate and
property, including bo~-.,..[ .... ~cks, noh<~s and obliQations secured by
real estate. Thc Trusa~- · i._~ll hold as joins -tenants all rual
acquired by them as TruL~ hereunder.
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(b) Thc Tru~uces shall ha~(: f~',ll ~J~v/-'r and
sell transfer and convey, from Lime to tim~, ~u ?u~3~lc or ~rivatc
sale, any part or all of thc trust i~roiscruy, upon such -c~m.~ and
c~n,~ztions as they sec fit; to ex,ucuac d~tu~s, mortuaOc~, ~J. ti~
thc same manner and upon thc sam~= trusts az thc orL,~inat property.
(c) Thc Trustees shall have absoiutc conarol over,
and power to dispose of, all real esuate and person,:~i propcr%y held,
&ncluuing (but not limited ~,~) thc power to sell asa convey, ,ab &.~ove
~u forth, to J_m?rove, -.~ c~q:~uruct bui!ding~ hb. cr~,nl, ~o /ca:3~ or
'termination of this Trust, r zor any lesser term, czuhcr wz~n oz
without option of purchase, ~o let, to .exchange, to re!case a[nd to
per Lition.
(d) %'he Trustee~ may borrow money, f,~r such tim,.~' and
such torres a:; they sec £ia, and may Sj~'~l not%:~ ~Ii0 (jiv~ hv, sr% j,~_L
security therefor, either with or without po,.wr ~f :,ale; ~ild ,,.-.~iy
pledge as collateral security for such loan, any i)=rsonal propel ',
b~iong~ng to the trust fund.
(c) Ail contracts, conveyances an~ tran:sf=rs, ar.u
all instruments relating to the trust property or any part
~hall refer to this declaration of trust and shall be cxccu~u~i by
both trustees or, if there are mor~ than two, bi· any two
(f) Thc Trustees may from time to ti.aa hire
,_:f,~;;t~ ;,.'~d emi)loycc~ {includu~.,, themselves) f,~z ur:~. uz;:~:~,cc~on
Ltl._ buslnccs Of thc trust, eld may rcmo',,~ such agcn~u an~
ccfinc their duties and fix their comi.ansation. Thc TIUELC~L shall
b~ cntit!ed to rcason~Dic cc.,u>~nsation for ti~ci/ o~,vr~ ~cz'v!cc:~
TrusLecs, ~%d also for anY' o~lor Serv!ccs rendered in thc cour:Je
business of the trust.
as depositoric~ of -t:w: crust zun~s; all ch~c,.:s an<.: o~h~,, withd:'a'.v ..... :..
of funds shall b= ~z,Si'~cd by both Trusuccz.
wha~ constitute.~ principal and income, a:..i _~,c:z d~cision :;hall
conclusive.
4. Tt ii; hereby c::~rcsslv
holder:; shall ever Lc '),.zs,...,,,.~_'L'.~ li,~b! :
o~h:~]~o(:, and th<~ ~" .:~, "" '
ship or corporatzo.. _~...aiing wi'ch tk .........
any inquiry c:onccz:,._.~5 the va!id~.tl/ ..... ~I/ .~-:, ~ .......
or purch;~c pur?ort!.:~g %o bo ma,! ~
or loaned ~o t]~,~ '2zuutecs; but ~ny ~uch
t84
ilic._.tc by ally person appearing of record to bca %'r~.~sh~:~: a.~; h~ :.-.~.~
arc t.~'ustecs and shareholders or as to the existcr~ce of a,~y eui~cr
fac ts.
5. Each Trustee shall be liable for only hi:: own wilZu!
.....~ --~-~n of trust and not for any honcsU error of juc~"~.~nt' -. No ........ tru~-
shall be held personally liable for any act or omission (~f any co-
t~cc or of any person crop!eyed or reta!ncd by thc trust~cs
6. Thc Trustees ~ha!l render an accou.~c au l=ast an::u~.±~, ,
shall, upon rc~c~a, dc!ivcr or mail a copy thereof ~o ~ach :;~.:.~.-
holder at his or her a~urcss appc~r:.n% o~ ~h= ~u~t~=.~ .~oo~<s.
7. The Trustees may declar~ and pay to th{~
divi.~]unds from the net profits ~f t]:.~ trust fund ill :5t,ch amounts
a-c such times as they, in their discretion, may dctur:a±nc. They may
s=t aside such portions of the net income as they determine for a
surplus fund.
8. The Trustees may sell shares in
uo time for such amounus as they, in their discr~:t~on, m~y dctcr,ain~',
and said shares shall be of no par w~lue. Any 'i'ruz..(.~ ~ 'hcrcun(2,..].
hold shares in this Trust. The Trustees shall zsJu= to each
no!dar one or more certificates showing his interest under thi~;
~nd shall keep a record of ail c~rtifica~cs so
for that purpose. Such certificates shall be slgn=d by
and shall be substantially in the followlng form, ue wit:
COF~401A.!EALTH OF MASSACHUSETTS
certificate No.
Shares Not
This certi=z.~s that .... __
ms thc owner of __ shares z~'~ ·
Ca,mat Realty TrUSt
which shall be h,.:i~ subjcc,-_ to terms, conditio..:~ :-_n,~ provisions of
Cna Declaration o~ Trust, a:~tcd July 31, !565 ~nd r~cordi~i
L~aex North '~ .... '
Dl.~rlcu 2c%istry of Deeds, ~nd
State in Boston, Massachusetts.
This certificate Lhall bc trans~.r~.~J~ on 'th= boo.~s
of the Trustees, in person or by attorney, upon ..... u~cndcr of
this certificate.
~V~
IN WITNESS WHE~EO~, the said Trustees .... hereunto set
their hands at Methuen, Massachusetts, this day of
, 19 .
Trustees of Cammat Realty Trust
185
......... ~-~ on' the books of th~ T::uz:n~ b.y th~ :>c:L'~c.:: ne:and
ii.._r~ix, or biz legal ~-. .......... '--.'
W;iO .i.~ E~CE,''. ..... ~" ' - - .... ~ .......~- ' '..- .
,,u..~.=,u-"-'~-'-,-'~ by process of '' or oc.'-arwl:3c," ' ·
..... , nave first in ,.,-."':' · "- ...., ~ ~ for ~';: .... :o the" ......... . ....
-cCc~O~ c)r SIt(IR Og..',-.U 02 ~xzlr~g kr.c :.i,.'410 a'~ ~i0~ i'.:ol.ic ~-~ ....
tE"~a~1'~; OZ O~EC:lOr ~..:" ~'-'~..~z ~.~z~"' .... ' ~OO;~- '~$E. ~ ' Ia '~" ...... ~'~'-'~'
appraisal has boca made in the oreceding twelve mon'ahs ....
...... o~ J.~'~co v.o a v~tuatlo~, then the Tru:;tcaoG~ ~.nd "~
ho!ecs shall ~ach a'~')o~nt ~n ' · · .
z_ -- - appraiser ama both
...........
-- a=CZ~_o., of the majoriuy of t'~e
-z~-.~-o~-~ aS EO valuation ,"~'-~ ' ' =-'-- '
by the Trustees may be h=!d as i}ar= of the Trust property, or sold
by =,~um au their ~ ......
Devises by will, '.': ...... .~:~-,"--' ,- ' '
~ .... L-~~~O.. O~ tile e~t:"'CCS O~ dcceascci
according Lo ~.~..;, ant "" ..... :~ 'u_O.. of erupt proparuy
en it!cd thereto u-oon. -~'~'~:~ uerminauion of trusts, shall not '
sales for the ~urpo~cs
waive the - c'' ...... ' '
~C-~l.C~uo Of t'~''~': ..... ~C~O,.; ~.
rkor Sh,~!l tr~cv evo_r b~ t-}~r~o,_,...~Iv I ';m'~,~/ 1~ all~Z CVCF,'C, or ~-:av~.
r~gnus hereunder except as herein defined.
ii The books of '-'-'- Trustees shat': be o:}en to uhe
inSocCtiOn of thc ~':-,--~' ~' .... -, ·
_ ~n~nol~ at all ......... ' ~
crction, invite and recezve payments for in-ceres-as :_.] thc ~rus'a
fund in cash or in property, for the pus}pose of zncrs..sing thai
capital of the trust fund, giving orefcrexce,
~?o.. ~uc., ~e_m~ =nd condz=zo=~s ,.s they
:;.'.arenoaae~s. Ail ~avments shall be o~jc=~ '-
LccLaracion of Trust.
z../_nu'/-~ne years after the death of 'cbc ...... '
- ~.:_ vzvo= oi '"' ' origina~l
tees .~e~u~:% named, or at such eaz-~cz- "{~'"~.,,~ ~ th~ 'Prus'cces
a,,,o::5 al,~ sl-~arcl-~ol.~crs i'-'l kin~ o;r zf; ca .
14 ~.a~ .................... ,..u~c-., ,t wlti: 'k:-.~ ccc ...... :a ci
......... ,..-~ .~ ..... · - ' ~ .. __~ ' signed
such ~~-o.%, -addition, ~L':aLn~'6k~n 02 conveyance
by .... ~" ~ ........ if ~ .... ' i ...... '
"~ ....' ...... and reserdsd in 'd~e ......... h ....o2 ..... ~ ' ~- ~ Re~i:3{ry
n'~ ~':'''= ~' 2. Ii ~/A.~ ~0 ~l~ '~ ~ ~ ..... . ,..~ .,~ .............
be conclusive ~o to the c:.:~suence of~..~--~ -~;' ....... ~ .... ~.~
...... ~ or no~, upon all oue~tioxs :,r3 to ,~_~ or ~uc~.~,u the
of third persons, provided, kowcvcr, and i% is ex}ressly declared,
.. ' ti'
.................. r..-- ~ hereby set our
. . . ._~_~ /.-"
~nzs thiru~ ":" ..... day of July, ~969 ........
Essex, ss. · .... ..- 3i. !969
Tigon per.--.o~l:y al~'.~carcd '~z ..... ~ nt .........
Charles T. Matses and ackxcw!edgac '-'-~..~ _*o'~co-_ ~ _.i.. L.-. './h;'[,cL'c UO ~e
Recorded Aug.5,1970 at I:8PM #111