DEED OF TRUST
Preamble
I, Braxton E. Krebs, hereinafter known as the “grantor” or “settler,” transfer and convey the property referred to as the “trust property” in fee simple absolute IN TRUST to James A. Brinkley, the “trustee” for the purposes and according to the terms set forth herein.
Purposes
The purposes of this trust are to provide aid, comfort and solace to the beneficiaries.
In particular, the purpose of the trust is to furnish pleasing music, a place to relax, beer or other legal alcoholic or pharmaceutical agents, massages by persons of the sex to which each beneficiary is attracted, and verbal encouragement.
Trustee
James A. Brinkley is the Trustee and the grantee of the
trust property. If James A. Brinkley should become unable to perform his duties,
he may designate a successor who must be a natural person and a citizen of the
Trust property
The grantor/trustor’s fee simple absolute interest in a condominium unit known as Unit 205, 300 South Canal Street, Chicago, IL., which the grantor/trustor hereby conveys in fee simple absolute to the Trustee on the date that this deed is executed and delivered, augmented by such other subsequent gifts or transfers of property from anyone as the Trustee may accept.
Beneficiaries
Natural persons who were first-year law students at Chicago-Kent College of Law in Professor Perritt’s section of Property Law in February, 2010, who experience anxiety as they learn about the estates system and the Rule Against Perpetuities in their first year course in Property.
Trust administration and use of trust
property
The trustee shall make available the trust property for the purposes of the trust. He also may, in his sole discretion, invest the trust property, for example, but not limited to, renting it, and use the income therefrom to achieve the purposes of the trust. To the extent the Trustee deems necessary, he may expend the trust principal, e.g., but not limited to, by selling it, using the proceeds for the purposes of the trust.
Non-alienability
The entitlements of
the trust beneficiaries are personal and may not be transferred intervivos. They may be inherited, or devised, however.
Termination
Upon the death of the last member of the beneficiary class, the Trustee shall sell the trust property, if it has not already been sold. Proceeds from the sale, less any amounts expended for the benefit of the beneficiaries over the life of the trust and any reasonable expenses incurred by the Trustee, shall be transferred to the most anxious member of the beneficiary class or his or her heirs or devisees. After such transfer, the trust shall terminate.
Signature
Braxton E. Krebs /s/