Your Business Pak/BusinessPak2.iso/Pca/_SETUP.1/20611.BLD

Text File | 1997-07-22 | 9KB | 192 lines

#20611
@001 Enter the name of the SETTLOR:
~Enter the name of the person who is making the trust.
@002 Enter the name of the TRUSTEE:
~Enter the name of the person who will act as the trustee.
@003 Enter the name(s) of the BENEFICIARIES:
~Enter the name or names of the beneficiaries (persons who will
~receive distributions from the trust.)
@010 Enter county of location of TRUST:
~Enter the county/parish where the trust will be administered.
@011 Enter state of location of TRUST:
~Enter the state where the trust will be administered.
#end control section
#20611

DECLARATION OF NOMINEE TRUST


@001, referred to as SETTLOR, hereby declares that any and all
property and interest in property that may be transferred to him
as Trustee hereunder ("the Trust Estate"), shall be held in
trust, for the sole benefit of, @003, the beneficiaries of this
Trust. The term "Trustee" wherever used herein shall mean the
Trustee or Trustees named herein and such person or persons who
hereafter are serving as Trustee or Trustees hereunder, and the
rights, powers, authority and privileges granted hereunder to the
Trustee shall be exercised by such person or persons subject to
the provisions hereof.


A.    BENEFICIARIES:  The term "Beneficiaries" wherever used
herein shall mean the beneficiary or beneficiaries listed in the
Schedule of Beneficial Interests this day executed and filed with
the Trustee, or in the revised Schedule of Beneficial Interests,
if any, from time to time executed and filed with the Trustee.
The Trustee shall not be affected by any assignment or transfer
of any beneficial interest until receipt by the Trustee of notice
that such assignment or transfer has in fact been made and a
revised Schedule of Beneficial Interests shall have been duly
executed and filed with the Trustee.  Any Trustee may without
impropriety become a beneficiary hereunder and exercise all
rights of a beneficiary with the same effect as though he were
not a Trustee.


B.    DUTIES OF TRUSTEE:  The Trustee shall hold the principal
of this Trust for the benefit of the beneficiaries, and shall
immediately pay over any income received to the beneficiaries in
proportion to their respective interests.


C.    POWERS OF THE TRUSTEE:  The Trustee shall have no power to
deal in or with the Trust Estate except as directed by the
beneficiaries.  When, as, if and to the extent specifically
directed by the beneficiaries, any one of the Trustees shall have
the power to:


(a)    Buy or otherwise acquire, to hold, to exchange or
partition, to sell at public or private sale, and to mortgage,
pledge or otherwise encumber or dispose of all or any part of the
Trust Estate; and to execute any and all deeds, promissory notes,
mortgages and other instruments necessary or appropriate
therefore;


(b)    To lease and sublease all or any part of the Trust Estate
for such term(s) and on such terms as the Trustee deems
advisable;


(c)    Contest or compromise any claims in favor of or against or
in any way relating to the Trust Estate. Any and all instruments
executed pursuant to such directions may create obligations
extending over any periods of time including periods beyond any
possible termination date of the Trust.  Notwithstanding any
provisions contained herein, no Trustee shall be required to take
any action which will, in the opinion of such Trustee, involve
him in any personal liability unless first indemnified to his
satisfaction.  Any person dealing with the Trustee shall be fully
protected in accordance with the provisions of Paragraph 7
hereof.


D.    TERMINATION:  The Trust may be terminated any time by any
one or more of the beneficiaries by notice in writing to the
Trustee, but such termination shall only be effective when a
certificate thereof signed and acknowledged by a Trustee
hereunder shall be recorded in the appropriate official records
of @010 County, State of @011. In any event, and the Trust shall
terminate in any event twenty (20) years from the date hereof or
at such maximum time as made be provided for by any applicable
Rule Against Perpetuities, whichever is later.  In case of any
such termination, the Trustee shall transfer and convey the
specific assets constituting the Trust Estate, subject to any
leases, mortgages, contracts or other encumbrances on the Trust
Estate, to the then beneficiaries as tenants in common in
proportion to their respective interests hereunder.


E.    RESIGNATION AND APPOINTMENT OF SUCCESSOR TRUSTEES:

Any Trustee hereunder may resign by written instrument signed and
acknowledged by such Trustee and recorded as is stated above in
paragraph "D." Succeeding or additional Trustees may be appointed
or any Trustee may be removed by an instrument or instruments in
writing signed by all the beneficiaries, provided in each case
that such instrument or instruments, or a certificate signed by
any Trustee naming the Trustee or Trustees appointed or removed,
and in the case of any appointment, the acceptance in writing by
the Trustee or Trustees appointed, shall be recorded as stated in
paragraph "D" above. Upon the appointment of any succeeding or
additional Trustee, the title to the Trust Estate shall thereupon
and without the necessity of any conveyance be vested in said
succeeding or additional Trustee jointly with the remaining
Trustee or Trustees, if any.  Each succeeding and additional
Trustee shall have the rights, powers, authority and privileges
as if named as an original Trustee hereunder.  No Trustee shall
be required to furnish bond.


F.    This trust shall not be administered by any Court.


G.    AMENDMENT:  This Declaration of Trust may be amended from
time to time by an instrument in writing signed by all the
beneficiaries and acknowledged by one or more of the
beneficiaries, provided in each case that the instrument of
amendment, or a certificate by any Trustee setting forth the
terms of such amendment, shall be recorded with the Registry
prior to the amendment being effective as to any party who does
not have actual notice thereof.


H.    TRUSTEE LIABILITY; RELIANCE OF PURCHASERS AND OTHERS: No
Trustee hereunder shall be liable for any error of judgment or
for any loss arising out of any act or omission in good faith,
but shall be responsible only for his/her own willful breach of
trust.  No license of court shall be requisite to the validity of
any transaction entered into by the Trustee.  No purchaser,
transferee, pledgee, mortgagee or other lender shall be under any
obligation to see to the application of the purchase money or of
any money or property loaned or delivered to any Trustee or to
see that the terms and conditions of this Trust have been
complied with.  Every agreement, lease, deed, mortgage, note, or
other instrument or document executed or action taken by any one
Trustee appearing as a Trustee hereunder from the appropriate
public records as stated in paragraph "D" above, shall be
conclusive evidence in favor of every person relying thereon or
claiming thereunder that at the time of the delivery thereof or
of the taking of such action this Trust was in full force and
effect, that the execution and delivery thereof or taking of such
action was duly authorized, empowered and directed by the
beneficiaries, and that such instrument or document or action is
valid, binding and legally enforceable.  Any person dealing with
the Trust Estate or the Trustee may always rely without inquiry
on the certificate signed by any Trustee appearing as a Trustee
hereunder from the records of the Registry as to whom is the
Trustee or whom are the Trustees or the beneficiaries hereunder,
or as to the authority of the Trustee to act, or as to the
existence or non-existence of any fact or facts which constitute
conditions precedent to acts by the Trustee or which are in any
other manner germane to the affairs of the Trust.


I.    NO PERSONAL LIABILITY:  No Trustee or beneficiary of this
Trust shall be held personally or individually liable for any of
the obligations incurred or entered into on behalf of the Trust
and each person who deals with the Trustee shall look solely to
the Trust Estate for satisfaction of any claims which such person
may have against the Trust.


J.    DIVISION AMONG TRUSTEES. In the event that there are
multiple trustees herein, in the event of any division between
the trustees as to acts to be taken herein, the majority of
trustees shall control. In the event that the trustees are evenly
divided, the vote of the longest serving trustee shall be
decisive.


K.    APPLICABLE LAW. The terms of this trust shall be
determined as is provided by the laws of the state of @011.


Dated: _______________________


____________________________________________
@002
TRUSTEE