Traditionally, legal documents in English have been written without punctuation other than full stops at the end of sentences. I think you have an example of this traditional style here - it isn't "wrong", but it is old-fashioned.

"As noted above, legal English differs from standard English in a number of ways. The most important of these differences are as follows:
.....
Lack of punctuation. One of the most unusual aspects of old-fashioned legal drafting – particularly in conveyances and deeds – is the almost complete lack of punctuation. This arose from a widespread belief among lawyers and judges that punctuation was unimportant and potentially confusing, and that the meaning of legal documents should be gathered solely from the words used and the context in which they were used. In modern legal drafting, punctuation is (or should be) used for the same reason as it is used in ordinary writing – to give clarification about meaning."
http://en.wikipedia.org/wiki/Legal_English


Punctuation


Punctuation was traditionally omitted in legal documents. Many trust drafters still use no punctuation. If it is used, a sense of guilt or unease or tradition causes drafters (like children) to use it sparingly and in a manner quite distinct from ordinary English composition.

The traditional practice rests on a precedent both ancient and authoritative. The Bible itself, in the original Hebrew, lacks punctuation and even paragraph breaks are rare; though the absence of punctuation adds little ease to its reading or interpretation.
http://www.kessler.co.uk/dtwt/Chap.02Style.html