Common use of TRUSTEE'S EXCULPATION Clause in Contracts

TRUSTEE'S EXCULPATION. This Lease is executed by CHICAGO TITLE LAND TRUST COMPANY, as successor trustee to LASALLE BANK NATIONAL ASSOCIATION, as successor trustee to American National Bank & Trust Company of Chicago, as Trustee, not personally but as Trustee as aforesaid, in the exercise of the power and authority conferred upon and vested in it as such Trustee, and under the express direction of the beneficiaries of a certain Trust Agreement dated March 16, 1987 and known as Trust Number ▇▇▇▇▇▇▇▇ at said Bank. It is expressly understood and agreed that nothing in this Lease contained shall be construed as creating any liability whatsoever against said Trustee personally or said beneficiaries, and in particular, without limiting the generality of the foregoing, there shall be no personal liability to pay any indebtedness accruing hereunder or to perform any covenant, either express or implied, herein contained, to keep, preserve or sequester any property of said Trust, and that all personal liability of said Trustee and said beneficiaries, to the extent permitted by law, of every sort, if any, is hereby expressly waived by Tenant, and by every person now or hereafter claiming any right or security hereunder; and that so far as the parties hereto are concerned the owner of any indebtedness or liability accruing hereunder shall look solely to the Trust Estate from time to time subject to the provisions of said Trust Agreement for the payment thereof. It is further understood and agreed that the said Trustee has no agents or employees and merely holds naked title to the property herein described and has no control over the management thereof or the income therefrom and has no knowledge respecting rentals, leases or other factual matter with respect to the premises, except as represented to it by the beneficiary or beneficiaries of said Trust.

TRUSTEE'S EXCULPATION. This Lease is Agreement and any other agreements, instruments and documents in connection herewith shall be executed by CHICAGO TITLE LAND TRUST COMPANY, ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ solely in his capacity as successor trustee to LASALLE BANK NATIONAL ASSOCIATION, as successor trustee to American National Bank & (the "Trustee") of the Trust Company of Chicago, as Trustee, not personally but as Trustee as aforesaid, in the exercise of the power and authority conferred upon and vested in it him, as the Trustee. It is expressly understood and agreed by Buyer, for itself and its successors and assigns, and by each other Person hereafter claiming an interest pursuant to this Agreement, that: (a) the Trustee has executed this Agreement, and will execute any other agreements, instruments and documents in connection herewith (such other agreements, instruments and documents being collectively herein referred to as "Other Trustee Documents"), solely for the purpose of subjecting the trust estate under the Trust to the terms of this Agreement and the Other Trustee Documents; (b) except in the case of his willful misconduct or fraud, no personal Liability or personal responsibility is (or will be) assumed by, nor shall, at any time be asserted or enforceable against the Trustee personally, on account of this Agreement or any Other Trustee Document or on account of any representation, obligation, duty, covenant or agreement contained herein or therein, either express or implied, all such personal Liability, if any, being expressly waived and released by Buyer; (c) no duty shall rest upon Trustee, and under either personally or as Trustee, to sequester the express direction of the beneficiaries of a certain Trust Agreement dated March 16, 1987 and known as Trust Number ▇Trust's assets; and (d) no duty shall rest upon ▇▇▇▇▇▇▇ at said Bank▇. It is expressly understood and agreed that nothing in this Lease contained shall be construed ▇▇▇▇▇▇ personally, apart from his capacity as creating the Trustee, to see to the fulfillment or discharge of any liability whatsoever against said Trustee personally or said beneficiariesobligation, and in particular, without limiting the generality of the foregoing, there shall be no personal liability to pay any indebtedness accruing hereunder or to perform any covenant, either express or implied, herein contained, to keep, preserve or sequester any property of said Trust, and that all personal liability of said Trustee and said beneficiaries, arising pursuant to the extent permitted by law, terms of every sort, if any, is hereby expressly waived by Tenant, and by every person now or hereafter claiming any right or security hereunder; and that so far as this Agreement of the parties hereto are concerned Other Trustee Documents. In the owner event of any indebtedness conflict between the terms of this Section 11.14 and the remainder of this Agreement or liability accruing hereunder any of the Other Trustee Documents, or in the event of any question of apparent Liability or obligation resting upon the Trustee, the exculpatory provisions hereof shall look solely to the Trust Estate from time to time subject to the provisions of said Trust Agreement for the payment thereof. It is further understood and agreed that the said Trustee has no agents or employees and merely holds naked title to the property herein described and has no control over the management thereof or the income therefrom and has no knowledge respecting rentals, leases or other factual matter with respect to the premises, except as represented to it by the beneficiary or beneficiaries of said Trustbe controlling.