Murillo building • Mabel Ubiria Center
In regard to the ADMINISTRATION of the TRUST, there will be two fundamental tasks:
....a. The regular administration of the building complex or the "Autonomous Residential Units" will be carried out by a Board of BENEFICIARIES, under regular supervision by the TRUSTEE.
The role of the TRUSTEE will be limited to controlling the voting of the members of the Board and formally overseeing its activity.
The main tasks carried out by the Board of BENEFICIARIES include the management and administration of the Day Center and everything related to the supervision of the Service Contract with POLIBEA.
....b.The administration and management of a Fund created optionally by unit owners or family members, for the purpose of securing the payment of the monthly expenses of the units as well as special services.
The payment plan can be adapted to each case, according to the possibilities or preferences of each party, as one payment or in installments. The TRUSTEE will be responsible for entrusting a renown local financial firm to place these funds, or to make a specific investment (for example, Uruguayan Treasury Bonds in Indexed Units).
