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Agreement and Declaration of Real Estate Business Trust (Massachusetts Nominee Realty Trust (Trustees to Act only as Directed by Beneficiaries) I, ____________________ (Name of Trustee), of ____________________ (name of city), ______________________ (name of county), __________________ (name of state), do now declare that I and my successors in trust (the Trustees) shall hold the real Property situated at ___________________________________________________________________ (address of real Property) (the Premises), to be conveyed to the Trustees by deed of _____________________ (Name of Owner) dated ___________________ (date of deed), to be recorded with this Declaration of Trust at the __________________ (Name of County) Registry of Deeds (the Registry), and any and all other Property that may be transferred to us as Trustees under this Declaration of Trust, for the sole benefit of the Beneficiaries under this Trust upon the terms set forth in this Declaration of Trust. 1. Name and PurposeThis Trust shall be known as the ___________________________ (Name of Trust) and the terms Trustee and Trustee and all pronouns referring to the Trustee or Trustees wherever used in this Declaration shall refer to the person or persons acting as Trustee or Trustees from time to time under this Declaration of Trust, whether or not there shall be more than one Trustee named in this Declaration initially. This Trust is intended to qualify as a Nominee Trust, so-called, for federal and state income tax purposes. It is established to hold the record legal title to the Trust Estate and to perform such functions as are necessarily incidental to such holding of record legal title. 2. BeneficiariesThe Beneficiaries of this Trust are the persons listed as Beneficiaries in the Schedule of Beneficial Interests this day executed by them and the Trustees and delivered to the Trustees, or as the same may be amended as provided below in this Declaration, and the interests of the Beneficiaries are as stated in such Schedule of Beneficial Interests. Any Trustee may without impropriety be a Beneficiary under this Declaration of Trust and exercise all rights of a Beneficiary with the same effect as though he or she were not a Trustee. In the event of the death of any individual Beneficiary, the interest of such Beneficiary, and the rights, privileges and powers appurtenant thereto, shall pass to and devolve upon the executor of the will of such Beneficiary. 3. Powers of TrusteeThe Trustees shall act at all times prior to termination of the Trust only as directed in
(description of trust) of this declaration or as amended by the trustee by an instrument duly recorded with the court of probate of the county wherein the office is located after an entry made in the office of the clerk of the court. The only powers of the trustees, which are hereby expressly vested in and delegated to him, are only the powers referred to by his name in this declaration. Nothing in this paragraph or any of the powers conferred on the trustees hereafter described shall in any way diminish the rights of the trustees conferred in this declaration and in the schedules of beneficial interest to which this declaration shall have appended or which may be set forth therein. 4. Decoration of deed of conveyance by trustee (title, title or title by transfer to the trustee) for this purpose, the real property shall be recorded in and executed by the commissioner of the office of real estate in, or in the county of (name of county) or of (name of state), or the (recorder) of any county wherein the real property so conveyed may be. Such an instrument is duly recorded by the commissioner of the office of real estate in, or in the county of (name of county) or of (name of state) or any other county of record, as the case may be, and recorded in the same manner and with the same effect as a deed of real property. The title recorded by the commissioner of the office of real estate for the purpose of recording the instrument as herein before provided shall not be invalid solely because such title may not appear on the instrument. (b) certificate of trust. Whenever a certificate or copy (in blank) of a legal instrument purporting to be executed pursuant at such execution is executed by a trustee in accordance with this section and is witnessed by the person appearing to be the true and official administrator of the trust estate in any judicial proceeding having the power to grant relief in the proceeding, the certificate or copy of the instrument is a sufficient record of the trust and the conveyance, but all other records in regard to the trust estate need not be recorded by the certificate or copy of the record unless otherwise provided in the trust instrument. [amended by no. 33-1997 ] whenever a certificate or copy is executed in an instrument filed in the office of or registered in the office of a notary public registered under the laws of the several states of the united states, a certified copy of such instrument is a sufficient record of the instrument and conveyance, notwithstanding that such not