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the United States. This trust shall be domiciled in
the City of Washington, District of Columbia. This
Trust Organization shall enjoy the benefits of the
Uniform Commercial Code adopted by the City of
Washington, District of Columbia in the following
citations: Sec. 28:1-105, TERRITORIAL APPLICATION OF
THIS SUBTITLE; PARTIES’ POWER TO CHOOSE APPLICABLE LAW,
and section 28:1-207, PERFORMANCE OR ACCEPTANCE UNDER
RESERVATION OF RIGHTS.
* * * * * * *
SIXTH
No bond for the faithful performance of duties shall be
required of any * * * Trust Manager under this
agreement.
* * * * * * *
EIGHTH
No * * * Trust Manager * * * created by this agreement
shall at anytime [sic] be held liable for any action or
default of any * * * Trust Manager * * * unless caused
by the individual(s) own gross negligence or by
commission of a willful act of breach of trust. A
Successor-Trustee may be appointed by a court of
competent jurisdiction or by consensus with the Trust
Managers and Beneficiaries if the First Trustee resigns
with 30 days notice.
* * * * * * *
IN WITNESS WHEREOF, the parties hereto have executed
this agreement the day and year above written.
/s/ /s/
CONTRACT ADMINISTRATORS TRUST, AMERICAN COMMON TRUST
SETTLOR, Enrique Almodovar FIRST TRUSTEE,
Douglas J. Carpa,
Trust Officer
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Last modified: May 25, 2011