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money or property~paid, transferred or delivered to or on the order of the Trustees or of such officer, employee o~' agent. 5.6 Recitals. Any written instrument creating an obligation of the 4M Fund shall be conclusively taken {o have been executed by a Trustee or an officer, employee or agent of the 4M Fund only in his {apacity as a Trustee under this Declaration of Trust or in his capacity as an officer, employee o~' agent of the 4M Fund. Any written instrument creating an obligation of the 4M Fund shail refer to this Declaration of Trust and contain a recital to the effect that the obligations thereunc~er are not personally binding upon, nor shall resort be had to the property of, any of the TrusteeSi Participants, officers, employees or agents of the 4M Fund, and that only the 4M Fund Property or a specific portion thereof shall be bound, and such written instrument may contain any further~similar recital which may be deemed appropriate; provided, however, that the omission of any recital pursuant to this Section 5.6 shall not operate to impose personal liability on any of the Trustees, Participants, officers, employees or agents of the 4M Fund. 5.7 Reli~.nce on Experts, Etc. Each Trustee and each officer of the 4M Fund shall, in the performance or,his duties, be fully and completely justified and protected with regard to any act or any failure to act resulting from reliance in good faith upon the books of account or other records of the 4M l~und, upon an opinion of counsel or upon reports made to the 4M Fund by any of its officers or ~mployees or by the Adviser, the Administrator, the Custodian, accountants, appraisers or other ~experts or consultants selected with reasonable care by the Trustees or officers of the 4M Fund. 5.8 Liab[litv Insurance. The Trustees shall maintain insurance for the protection of the 4M Fund Property !and the Trustees, Participants, officers, employees and agents (not including Advisor, Administrator, or Custodian) of the 4M Fund in such amount as the Trustees shall deem adequate to cover 511 foreseeable tort and contract liability to the extent available at reasonable rates. 5.9 No ~faiver. Nothing in this Declaration of Trust shall be construed as constituting the waiver of any i~nmunity from liability available to the 4M Fund or the Trustees, Participants, officers, employees ~r agents of the 4M Fund pursuant to any applicable provision of Law. ARTICLE VI Interests of Participants 6.1 Gengral. The beneficial interest of the Participants hereunder in the 4M Fund Property and the earnings thereon shall, for convenience of reference, be divided into Shares, which shall be usedi as units to measure the proportionate allocation to the respective Participants of the beneficial ir~terest hereunder. The number of Shares that may be used to measure and represent the proportionate allocation of beneficial interest among the Participants is unlimited. All Shares shall be ~f one class representing equal distribution, liquidation and other rights. The beneficial interest hereunder measured by the Shares shall not entitle a Participant to preference, preemptive, appraisal, conversion, or exchange rights of any kind with respect to the 4M Fund or the 4M Fund Property. Title to the 4M Fund Property. of every description and the right to conduct any affairsi hereinbefore described are vested in the Trustees on behalf and for the beneficial interest, af the Participants, and the Participants shall have no interest therein other than the beneficial i.hterest conferred hereby and measured by their Shares, and they shall have no right to cai1 for ang partition or division of any property, profits, rights, or interests of the 4M Fund nor can they ~e called upon to share or assume any losses of the 4M Fund or suffer an 21 J!