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CHARITY.BLD
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1997-07-22
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156 lines
#100
@001 Enter the name of the TRUSTOR (SETTLOR):
~Enter the name of the person making the trust.
@002 Enter the purpose of the trust:
~Enter an explanation of the purpose of the trust. For example:
~scholarships for ballet students.
@003 Enter the name of the TRUSTEE:
~Enter the name of the person or firm to act as the trustee of
~the trust.
@004 Enter the name of the trust:
~Enter the name that the trust will be known by. For example:
~The John Doe 1995 Charitable Trust.
#end control section
#100
CHARITABLE TRUST
The purpose for creating this trust is to promote @002.
I, @001, trustor, create a trust fund of the property listed in
Schedule A attached and incorporated by this reference, which I
have delivered today to @003.
I hereby give, transfer, and deliver the property described
in Schedule A to the trustees in trust for the purposes stated.
The name of this trust shall be @004.
Trustor, and Trustee, hereby agree as follows:
TRANSFER OF CORPUS
Trustor hereby gives and transfers to trustees the property
described in the attached schedule together with its income and
profits and any other sums that may be transferred to trustees
or their successors pursuant to the terms of this agreement, to
hold in trust for the uses and purposes set forth in this
agreement.
INVESTMENT AND APPLICATION OF TRUST FUND AND INCOME
The trustees shall hold the trust fund and, in their
discretion, invest it or parts of it in securities in which
trustees are permitted to invest under applicable laws. The
trustees from time to time in their own discretion may invest the
income to the charitable uses and purposes described above solely
by means of contributions to any charitable corporation, trust,
community chest, fund, or foundation which at the time of the
contribution by the trustees is one of those organizations
described in the IRS Code of the United States, contributions to
which are deductible for income tax purposes.
Trustees shall make distributions at such times and in a
manner as not to subject the trust to tax and shall not act in
any self dealing as described in Section 4941 of the Internal
Revenue Code. Trustees shall not retain any excess business
holdings as defined in Section 4943 of the Internal Revenue Code
and shall not make any investments as defined in Section 4944 of
the Internal Revenue Code nor make any taxable expenditure which
would subject the trust or corporate trustee to tax under Section
4945 of the Internal Revenue Code.
RESTRICTIONS ON USE OF TRUST FUND
The trust fund and the income of the trust fund shall be
used only for the purposes described above and shall not be used
to benefit or inure any private person or corporation, except for
the corporate trustee. No part of this trust shall be used for
political purposes.
ADDITIONAL GIFTS TO FUND
Anyone from time to time may contribute to the trust corpus
money or property to the trust, subject to the approval of the
trustees.
TRUSTEES ACTIONS
The trustees shall not be responsible for any error or
decision which is absent of bad faith.
TRUSTEES COMPENSATION
The corporate trustee shall be reimbursed from time to time
as decided by the trustor and be paid by the trust. All expenses
incurred through the administration of the trust fund shall be
paid by the Trustor. The individual trustees shall serve without
compensation.
DECISIONS OF THE TRUST
Any action by the trustees must be in writing and signed by
a majority of the trustees and shall be filed with the corporate
trustee.
CONTROL OF FUNDS
The corporate trustee shall have exclusive custody of the
securities, cash, and other property of the trust fund.
SUCESSION OF TRUSTEES
In the case of a death or resignation of one of the
trustees, the successor shall be appointed by the remaining
trustees. The remaining trustees shall have full power to act
under this agreement until a new trustee is appointed.
GIFTS IRREVOCABLE
Gifts made into the trust under this agreement shall be
irrevocable. If it is determined that this trust is not tax
exempt after making contributions or gifts in the manner and to
the extent provided by the Internal Revenue Code, then such gifts
as remain in the fund shall be given to a qualified tax exempt
charitable organization selected by trustees to best carry out
the purpose of this trust. This trust shall thereupon terminate.
_____________________________
TRUSTOR
_____________________________
TRUSTEE