Common use of Liability of Trustees Clause in Contracts

Liability of Trustees. A copy of the Lender’s Trust Agreement and Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and notice is hereby given that this agreement is executed on behalf of the Board of Trustees of the Lender as trustees and not individually. The obligations of the Lender are not personally binding upon, nor shall resort be had to the property of, any of the trustees, shareholders, officers, employees or agents of the Lender, but only the property of the Lender shall be bound.