Common use of CONCERNING THE BORROWER Clause in Contracts

CONCERNING THE BORROWER. The term "Borrower" as used herein ----------------------- shall mean and include the undersigned as Trustee of the Trust and its successors in trust not individually but solely as Trustee under that certain First Federal Lincoln Bank Employee Stock Ownership Trust effective___________________, by and between the undersigned and First Federal Lincoln Bank and this Agreement shall be binding upon the undersigned and its successors and assigns and upon the trust estate. The undersigned assumes no personal or individual liability or responsibility for payment of the indebtedness evidenced by the Note or for observance or performance of the covenants and agreements herein contained or for the truthfulness of the representations and warranties herein contained, the undersigned having executed this Agreement and the Note solely in its capacity as trustee as aforesaid to bind the undersigned, its successors in trust and the trust estates.

CONCERNING THE BORROWER. The term "Borrower" as used herein ----------------------- shall mean and include the undersigned as Trustee of the Trust and its successors in trust not individually but solely as Trustee under that certain First Bay State Federal Lincoln Savings Bank Employee Stock Ownership Trust effective___________________, by and between the undersigned and First Bay State Federal Lincoln Savings Bank and this Agreement shall be binding upon the undersigned and its successors and assigns and upon the trust estate. The undersigned assumes no personal or individual liability or responsibility for payment of the indebtedness evidenced by the Note or for observance or performance of the covenants and agreements herein contained or for the truthfulness of the representations and warranties herein contained, the undersigned having executed this Agreement and the Note solely in its capacity as trustee as aforesaid to bind the undersigned, its successors in trust and the trust estates.