This
Deed of Trust made and executed at Vasai on this ___ day of November 2013 by 1)________, Aged ____ years, Indian Inhabitant,
_________________________, hereinafter referred to as the “SETTLOR”. (Which expression shall mean and include her heirs, executors, administrators and assigns.) Of the FIRST PART.
_________________________, hereinafter referred to as the “SETTLOR”. (Which expression shall mean and include her heirs, executors, administrators and assigns.) Of the FIRST PART.
AND
1)
Mr. _________, Aged ___ years, Indian Inhabitant, ___, residing at
B-201, EC-55, Mangal Jyot,Evershine City, Vasai East, Dist. Thane – 401205,
hereinafter referred to as "THE MANAGING TRUSTEE",
2) _______________, Aged ____ years, Indian Inhabitant, Housewife, residing
at-__________________________. Thane – 401205.
3) _________________, Aged _____ years, Indian Inhabitant, ___________r,
residing at ________________________..(Which expression shall mean and include their
survivor or survivors, heirs, executors, administrators and assigns.) of the OTHER PART.
WHEREAS, the
settler is desirous of creating a trust for the welfare and advancement of the
poor and needy community in respect of their personal, physical and Financial
security and undertaking charitable objects of the Public nature in general,
settler also desire to create Opportunities, Employment, Education, to enable
them to self reliant & live with dignity. Trust shall conduct spiritual
meetings and pray for the wellbeing of the people.
AND WHEREAS, the
settler has in anticipation of the execution of these present paid to the
trustees a sum of Rs. 1000/- (Rupees One Thousand only), the receipt of which
the trustees do hereby admit and acknowledge to be held by the trustees upon
the trust and subject to powers and provisions hereinafter declared and
contained.
AND WHEREAS the
trustees are authorized to deal with the trust and properties and have been
vested these rights.
AND WHEREAS, all
the clauses in the Trust Deed are subject to the Provisions of Bombay Public Trust Act, 1950 & laws of
India with regard to operation of Trust.
AND WHEREAS the
trustees have at the request of the Settler agreed to act as Trustees of THESE PRESENTS, as is testified by
their joining and executing THESE
PRESENT AND TO HOLD forever in Trust any donation, contributions, funds
etc. received by the trustees and accretion thereto and interest, Receipts,
Incomes and Gains thereon subject to the powers, provisions, agreements,
resolutions, decisions, and declaration hereinafter made.
NOW THIS DEED OF TRUST WITNESSETH AS FOLLOWS:
NOW THIS DEED OF TRUST WITNESSETH AS FOLLOWS:
1. NAME AND ADDRESS :
This Trust created and established shall always be known as “___________” The Head Office of
the Trust hereby created shall be situated at _______________________. The Trustees are empowered to
change/alter/shift the head office of the Trust to any other place in the state
of Maharashtra after following due process and permissions from Charity
Commissioner & with the approval of the Board of Managing Trustees.
2. DONATIONS : The
Trustees shall be entitled to receive, hold, use and posses all funds, money,
donations, securities, assets, properties or anything as donations subject to
the powers granted to them by virtue of this Trust Deed, resolutions passed in
respect thereof and the provision of Law. Such monies, securities, Funds and
other assets shall be the property of the trust to be used as per the
directions contained herein for the purpose of the objects of the Trust.
3. EXPENSES :
The Trustees shall get and collect the rents, interest and other income of the
trust properties and from and out of the same, in the first instance, pay and
discharge all the costs, charges and expenses incurred in or about the
collection of the same and incidental to the administration or execution of any
of the Trust or powers of THESE PRESENTS
and subject to apply the residue of the said rent, interest and income as well
as the whole or part of the corpus of the
Trust
properties for and in the manner hereinafter provided.
4. OBJECTS :
The Trustees shall irrespective of caste, creed, religion, colour, place of
birth or sex apply the trust properties or any part thereof or the income
thereof or such part or the parts of income as they may in their absolute
discretion think fit and proper for all or any of the objects hereinafter
specified.
A ) SOCIAL ACTIVITIES
I.
To promote National Integration, Communal
Harmony, Universal Brotherhood and Global Peace.
II.
To promote and advocate Human Rights and
Fundamental Freedom for all without any discrimination of race, religion,
caste, color, sex, place of birth and language etc.
III.
To develop and mobilize Community and Natural
Resources to give the right direction to people of the marginalized and economically
weaker section of the trust for their sustainable overall development
IV.
To work with special concentration for the
Child & Women Welfare.
V.
To organize and take up Health, Educational
and Welfare programmes for needy Women and children on priority basis.
VI.
To promote charitable values, literature,
science, art, education and culture.
VII.
To translate and distribute books in other
Indian languages for spiritual benefit.
VIII.
To conduct spiritual meetings and pray for
the wellbeing of the people.
B) CHARITABLE
OBJECTIVES
I.
To grant aid, help to the poor or deserving
persons during epidemics, famine, flood, earthquake or any unforeseen
calamities or was or riot affected areas and at that time to distribute free
food, clothes and shelter to the poor and needy to any place in the state of
Maharashtra or in India.
II.
To grant relief in any form to maimed, disabled,
infirm , sick and all poor persons and to provide welfare to the deaf, dumb,
blind or handicapped persons or to those who are otherwise physically and
mentally deficient/ challenged, weak and infirm,
(C)
MEDICAL RELIEF
I.
To arrange and provide medical aid and other
assistance necessary for living to the needy people who are incapable or
handicapped or mentally/physically retarded and financially unfit.
II. To fight against HIV/AIDS and other communicable diseases.
II. To fight against HIV/AIDS and other communicable diseases.
III. To conduct camps, meals & exhibitions of
relief & check up of the disease, provide medical support to women
periodically to secure them against disease.
IV. To establish, maintain support, grant and
give financial assistance to hospitals, dispensaries and nursing homes run by
the trustees themselves or at any place in the state of Maharashtra or India
with or without medical school and nursing Institutions or any one of them for
the treatment and betterment of patients suffering from any diseases, ailments
and or accidents etc.
VI.
To provide basic medical facility,
sanitation, general health care and other needful support which can be helpful
for public to overcome sufferings and agony of any natural and manmade disaster
and to facilitate them to rehabilitate.
(D)
EDUCATION
I.
To open school, colleges Institutions for
women including Naari Shalas, Night School and other centers for working women
for their education.
II.
To
promote and encourage prople to use and develop their skills and talent -
handicraft, handlooms, Art, & literature.
III.
To
establish motivating rewards for the deserving people in the field of Music,
Art grass root level social service, communal harmony, brotherhood and peace.
IV.
To encourage the emerging artists and their
talents so that they can get proper recognition within and beyond the country.
(E) RURAL DEVELOPMENTS
I.
To assist poor in their need of running
animal husbandry, agriculture, public health and hygiene and drinking water
supply, irrigation, form co-operatives, provide necessary infrastructure and
all the financial assistance to see to the benefit and welfare of the poor and
needy people.
II.
To take Development projects of the rural
area to provide better facilities to Villagers and to create employment
opportunity.
AND
ALSO
to help small marginal farmers and landless laborers and generate employment by
seeking and providing new outputs to the young and old alike.
AND
ALSO
to conduct training programs for creating awareness specially among girls and
women regarding agriculture related skills, plant protection, food productions,
planting herbal medicines and vegetable and fruit farming and also to establish
model farms to create awareness wherever required and also start handicraft
centers to engage the people during their free times.
AND
GENERALLY to do all public, charitable purposes for public benefit without any
discrimination of Caste, Creed, Color, Gender, Religion, Faith, Race or any
Nationality.
5) AND
IT IS HEREBY INTENDED AND DIRECTED that if at any time hereafter it is held
that any of the objects or purposes towards which the corpus of the income of
the Trust properties of any part or parts of thereof hereby directed to be
applied or extended is not strictly public or charitable objects or purpose as
aforesaid as may be charitable according to law, provided further that the
trustees shall apply the Trust properties or such part or parts thereof for all
or any of the aforesaid objects of this Trust in so far as these objects relate
to anything done or to be done within the provisions of Income Tax Act, 1961 as
amended up to date or any statutory modifications or re-enactments thereof for
the time being in force.
6) PROVIDED
ALWAYS that subject to the governing
of the provisions of the Income Tax Act, 1961 as amended up to date or any
statutory amendments, enactments thereof for the time being in force, it is
hereby declared that the Trustees shall have discretion in the following
matters:
a)
Either the application or appropriation or disposal of any part or the whole of
the interest or Income of the Trust.
OR
b) The selection of any one or more of the
above public charitable objects or purpose for such application, appropriation,
or disposal of the said part or any part of the whole of the corpus in any
particular accounting year observed by the Trust shall be absolute and the
decision taken by the trustees in these regards shall be final and conclusive
and they shall not be required to offer reasons, explanations, reply etc. for
such decision taken.
c) In
case of any loan which the trustees may give to agree to give to any student or
any deserving person, they shall have the power in their discretion to charge
or forgo interest and or allow repayment of the loan in such manner and upon
such terms and conditions as the trustees may in their absolute discretion
think fit and or remit, forgo or write off the whole or any part of the loan or
to require security in such instances as the trustee may think fit.
7) POWES
OF THE TRUSTEES: The Trustees shall have full power to do all acts, deeds
and things as may be necessary, usual or expedient to carry out the object of
the Trust and without prejudice to the generality of the powers hereby or law
granted to or conferred upon or implied in the Trustees, the Trustees shall have,
in particular, the following express powers.
i.
To appoint, suspend, dismiss or re-employ to Secretary,
Manager Accountant, Clerks, Peon or other employees and general staff on such
terms and conditions as to remuneration, fees tec. And all costs, charges and
expenses in these premises.
ii.
To
appoint contractors, engineers, brokers, agents, counsels, solicitors,
advocates and other experts and to pay their remuneration, fees etc. and all
costs, charges and expenses in these premises.
iii.
To acquire by gift, purchase, exchange, lease
or hire or otherwise howsoever any lands, buildings, flats, blocks, rooms,
easements, rights, playgrounds, parks and any other movable or immovable
properties such as vehicles, communication facilities or any interest therein
for any of the objects of the Trust subject to the provisions of the Bombay
Public Trust Act, 1950.
iv.
To
build, construct, erect and maintain, houses, buildings, structures and rooms,
blocks, chawls, flats etc and to alter, extend, improve, repair enlarge or
modify the same and to provide and equip the same with light, water,
electricity, drainage, sewerage, furniture, fittings, roads, Infrastructure,
laboratories, instruments, apparatus and appliances and all other incidental
accessories for the use to which each building is to be put or held.
v.
To sell, Transfer, exchange, partition,
mortgage, demolish, dispose of or otherwise deal with any property whatsoever
belonging to the Trust & Subject to the Provisions of the Bombay Public
Trust Act, 1950.
vi.
To
grant lease of the properties of the Trust for such period and on such rental
and upon such terms and conditions as the Trustees may think fit.
vii.
To borrow with or without security from any
person, firm, company, corporation, bank or financial Institutions including
any trustees of these present, such sum sums of money as the trustees may think
fit not being inconsistent with THESE
PRESENTS or the Trust hereby created or established, for the purpose of the
Trust for meeting the costs of repairs, improvements or for redeeming any
liability or for acquiring any movable or immovable property for the Trust or
for generally to carry out its objects or any of them.
viii.
To open account or accounts, current, fixed,
saving, call deposit or otherwise with any bank or banks and to authorize any
one or more of the Trustees to operate the said banking accounts and signs and executes
all banking documents.
ix.
To institute, conduct, defend or abandon any
legal proceedings or actions concerning the affairs or estate of the Trust in
any Court in the Union of India, to present sign, declare any verify all
plaints, potions, written statements, appeals etc. and to make necessary
affidavits, application of any kind to accepts summons, notices etc and to
appear before the Registrar or sub-registrar of assurances and to admit
execution of all deeds and documents signed by the Trustees or to appear before
all Governments, Municipal, Income Tax, Gift Tax, Expenditure Tax, Sales Tax,
Customs and Excise, Officers, Tribunals, Tax Officer, Appellate Tribunal and
Authorities, State & Central Board of Direct Taxes, Reserve Bank of India,
Malmatdhar, Talathi, Circle Officer, Tahsildar, Collector and all other public
or Revenue officers and to execute and entire in to all such deeds, documents
and instruments and to do all such other ministerial acts, deed and things as
may be deemed proper by the Trustees for any such purposes without being
responsible for loss or for any exercise of
such discretionary powers and so
as conclusively to bind all person interested hereunder.
x.
To determine all questions and matters of
doubt arising in the execution of the Trust thereof.
xi.
And generally to do all acts, deeds and
things and that may be necessary, expedient or desirable for management or
administration of the affairs or properties of the Trust or in carrying out
objects.
(8) Number of Trustees: The maximum number of
Trustees shall be 7 and the minimum number of Trustees shall be Three, amongst
which there shall be 3 permanents trustees. Trustees hall have the power to
appoint additional Trustees within the limit mentioned above.
9) FIRST TRUSTEES: The Trustees appointed at present by THESE PRESENTS shall be known as the FIRST TRUSTEES.
10) PERMANENT TRUSTEES: _________________________________________________
11) DISQUALIFICATION OF TRUSTEESHIP :
The Trustees of the said Trust shall be
disqualified to act as Trustees if,
a) He she acts against the interest of the trust and does not abide by the Deed of Trust and Rules and Regulations framed thereunder.
b) He/she commits any acts of misfeasance, misappropriation, breach of Trust in respect of this Trust.
a) He she acts against the interest of the trust and does not abide by the Deed of Trust and Rules and Regulations framed thereunder.
b) He/she commits any acts of misfeasance, misappropriation, breach of Trust in respect of this Trust.
c) He/she convicted of criminal offence
involving moral turpitude or of offence
described under the Bombay Public Trusts Act, 1950.
d)he or she is adjudged, declared insolvent
or become unsound mind.
12) BOARD OF ADVISORS: The Trustee shall
appoint one or more persons as Advisor for different Social, Charitable and educational
activities to be undertaken by the Tryst and such advisors shall form a Board
of Advisors and such Board of Advisors shall function under the guidance and
control of Trustees.
13)
The permanent Trustees shall have right to appoint her place as a permanent
Trustees. If any vacancy or vacancies arises in permanent Trustees and Trustees,
the same shall be filled up by the remaining permanent trustees and Trustees so
appointed shall be called permanent trustees. The Trustees other than permanent
Trustees shall hold office of the Trustees for a period of Two years from the
date of Appointment & shall be eligible for re-appointment. Casual
vacancies created because of any reason shall be filled up by the remaining
trustees, if desired and the trustees so appointed shall hold office of
trustees till original permanent trustees join, in whose place he/she is
appointed.
14) CHAIRMAN: The Trustees shall appoint
one of them as the chairman of the Trust and determine the period for which he
will hold the office. The chairman shall preside or otherwise regulate the
meetings of the Trustees, in the absence of chairman; the trustees may choose
one to them present as the chairman to preside in a particular meeting.
15) MANAGING TRUSTEES OR BOARD OF TRUSTEES:
The trustees may, from time to time, appoint one or more of their body to be
managing Trustee or Managing Trustees or Board of Trustees of this trust and may
fix the period for which the said Managing trustee shall hold office. The
Trustees may from time to time entrust to any confer upon the Managing Trustees
or Board of the Trustees for the time being such powers exercisable under these
Presents as they may think fit and may from time to time revoke, withdraw,
alter or vary all or any of such powers
16) INVESTMENTS: The trustees may from time to time invest the
trust funds not immediately required to be paid or expended at an early date in
placing any such moneys or deposit with any Nationalise Bank, scheduled State Co-operative Bank,
Private Bank etc. or with any institution or any other securities issued by the
Government of India or to invest the trust property or funds in or upon
any investment for the time being authorized by law for the investment of the
trust funds. The Trustees may from time to time vary, transfer, realize or
transpose the same into or for any of the other
investments of the nature herein above authorizes as per section 35 of
the Bombay public Trust Act,1950.
17) POWERS TO FRAME RULES
AND REGULATIONS : it shall be lawful for the trustees to frame
Rules and regulations for the administrations of the trust fund and of the public and
Charitable objects hereby established and regulations for the conduct of the
meetings and Proceedings of the trust
and from time to time , alter, vary, modify or repeal such rules and Regulations and to
substitute other rules and regulations
in lieu thereof.
18) BUSINESS : The
Trustees may meet together for the dispatch of business, adjourn and otherwise
regulate their meetings and proceedings and they think fit and proper.
The resolutions passed in any meetings of the Trustees and evidenced by writing
under the hands of majority of the trustee shall be as valued and effective as
if the said resolutions were duly passed at the meeting of the Trustees
held and convened in accordance with the provisions of THESE PRESENTS.
19) ORDINARY
AND SPECIAL MEETINGS: The Trustees shall hold at least one meeting
every three months and these meetings shall be called the Ordinary Meeting. The
Trust may also hold additional meetings and such meetings
shall be called Special Meeting. Such Ordinary and Special meetings will be held at such time and place as the Chairman may determine and shall be called by the Chairman.
shall be called Special Meeting. Such Ordinary and Special meetings will be held at such time and place as the Chairman may determine and shall be called by the Chairman.
20). NOTICE OF MEETING OF TRUSTEES: 3 days notice shall be given
for a meeting of the Board of the
Trustees and such notice shall be in writing and shall be either personally
delivered, transmitted by postage prepaid registered mail or by telex or cable or through any mode of transmission as may be decided
by the trustee between themselves.
21). QUORUM: The minimum quorum for
a meeting of the Trustees shall be three Trustees.
22). MINUTES: The Trustees shall keep or cause to be kept
minutes of all proceedings of the Meeting s of the committees or sub-
committees & the same shall be duty bound in books for that purpose. The
Minutes of each meeting shall contain a fair & correct summary of the
Proceeding there at and shall also contain the names of the Trustees or members
of the committee or sub-
committee as the case may be, present at the meeting and in case or each resolution
passed at the meeting, the names of Trustees members of the committee or sub- committee
dissenting from or not concurring in the resolutions.
23).RESOLUTION BY MAJORITY: Every resolution or question
submitted to the meeting shall be decided by a majority with
consent of the Managing Trustees and also passed unanimously.
consent of the Managing Trustees and also passed unanimously.
24).CIRCULAR: Any matter
of business of a routine or formal or urgent nature may be determined by
circular without meeting of the Trustees provided that it is agreed to
unanimously by all Trustees. In case of difference of opinion, such question
shall be dealt with at the next meeting of the
Trustees.
Trustees.
25). MINUTE BOOK: A minute book shall be kept for this Trust
which will consist of:
a) A clear report of the proceedings in
the meetings of the Trustees.
b) All the report of the proceedings in the meeting shall be read over to the Trustees at the next meeting and when confirmed, shall be signed by the Chairman.
b) All the report of the proceedings in the meeting shall be read over to the Trustees at the next meeting and when confirmed, shall be signed by the Chairman.
26). THE PAYMENT OF MANAGEMENT: On acquisition of immovable
properties the Trustees shall out of rents, income and interest of
the Trust properties in the first instance pay all rents, taxes & assessments. And other necessary outgoing the next place all the proper charges and expenses of and incidental to management and administration the Trust properties as well as the costs of current repairs to
and the upkeep of the immovable proportion belonging to the charity, if any, and thereafter set apart 10% or set apart as Managing Trustee may decide from time to time of the total gross income of reserve fund for the purpose of heavy repairs, renovation or rebuilding of immovable properties, if any belonging to the Trust and pay and apply the balance for the objects of the
Trust.
the Trust properties in the first instance pay all rents, taxes & assessments. And other necessary outgoing the next place all the proper charges and expenses of and incidental to management and administration the Trust properties as well as the costs of current repairs to
and the upkeep of the immovable proportion belonging to the charity, if any, and thereafter set apart 10% or set apart as Managing Trustee may decide from time to time of the total gross income of reserve fund for the purpose of heavy repairs, renovation or rebuilding of immovable properties, if any belonging to the Trust and pay and apply the balance for the objects of the
Trust.
27). REPAIR
TO PROPERTY: On Acquisition of immovable properties the Trustees shall
keep the properties of the Trust in good condition. The Trustees shall have
power to repair, modify, alter, renovate, develop the immovable property of the
trust and shall maintain it in good condition
28). ACCOUNTING YEAR AND ACCOUNTS OF THE TRUST: Accounting year
of the Trust shall be financial year beginning from 1st April to 31st March or
as the trustees deem fit and proper as provided by the Income Tax Act, 1961 as
amended up to the date of Trusts. The Managing Trustee shall keep or order to
keep and maintain regular accounts of the Trust properties and its income and
shall get the accounts, audited as per the provisions of the Bombay Public
Trusts Act, 1950. The Managing Trustee shall maintain keep books of accounts
including:
1) Rough Cash Book
2) Fair Cash Book
3) Ledger
4) Donation book entry containing movable
full particulars.
5) Receipts Book.
6) Book containing movable and immovable
properties, containing full particulars
and its value.
7) Book containing list of investments if
any other books as the circumstance demands.
29). BANK
ACCOUNTS:
The Trustees shall not ordinarily keep on hand more than Rs.5000/-. All accounts in the Banks shall be maintained in the name of the Trust and such accounts shall be operated jointly at least by two of the Trustees one of who shall be the Managing Trustees.
The Trustees shall not ordinarily keep on hand more than Rs.5000/-. All accounts in the Banks shall be maintained in the name of the Trust and such accounts shall be operated jointly at least by two of the Trustees one of who shall be the Managing Trustees.
30). INVESTMENT:
The Managing Trustee shall
invest trust funds and money in accordance to the provisions of Section 35 of
the Bombay Public Trusts Act, 1950, as he may think fit and proper.
31).POWER
TO TRANSFER, ETC: The Trustees have power to transfer, sell and
alienate the property with the previous sanction of the Charity commissioner.
32).REGISTER OF MOVABLE AND IMMOVABLE
PROPERTIES: Themanaging Trustee
shall keep two separate register of up-to-date record of the movable and
immovable properties of the Trust.
33). CUSTODY
OF THE DOCUMENTS: The Managing
Trustee shall keep in his custody all documents concerned with the Trust, such
as minute book, Title deeds, property
document, receipts book and such other records related to the Trust at the
place, which he thinks suitable and proper.
34). DELEGATION OF POWERS
:The Trustees may delegate any of their powers to the committee consisting
of trustees of Non- Trustees as they think may from time to time revoke and discharge
any such committee or sub-committee wholly or impart and whether as to persons or
to purpose , but very such committee or sub- committee shall exercise the
powers Delegated to them confirming to any regulations that
may from the time to time be imposed by the trustees. The meetings and
proceedings of any such committee shall be governed by Provisions for
regulating the meetings and the proceedings of the trustees so far as the same are
applicable here to and are not superseded by any regulations made by the
Trustees. In case, a Non- Trustee
is a member of the committee or sub- committee such non – trustee shall have no
right to vote there at.
35). VOTING AND CASTING
VOTE : All questions arising in the administration of the Trust and all
questions relating to the exercise of
any of the powers and authorities of the Trustees whether conferred by THESE PRESENTS or vested in them
by law or otherwise concerning or touching these presents or anything herein
contained and all other matters whatsoever shall be decided according to wishes
of the majority of the Trustees. In case of equality of votes, the chairman shall have a casting or
additional vote.
36). BOOKS OF ACCOUNT
: The Trustees shall be keep or cause to be kept all the proper books of accounts
in which , shall be entered true and complete accounts of the affairs and
transaction of trust. Once in every year, the accounts of the trust shall be examined
and corrections of Income shall be audited by a qualified Chartered Accountant
to be appointed by the Trustees.
37). INVESTMENT IN THE NAME
OF TRUSTEES: It is hereby
expressly agreed and declared that for the sake of convenience of management of
the affairs of this trust all the properties and securities in or upon which
the trust properties are or may be invested may stand and continue to stand in
the name of any one or more of the Trustees as may be decided by them. However ownership of
such investment/ properties will not be with any of the trustee, all the
properties and investments always to be considered as the properties of Trust.
38). ENTRUSTMENT TO BANK : The Trustees may, in their discretion if
think it necessary or advisable, authorize any scheduled or co-operative Bank
or Banks on such terms as to remuneration or otherwise as they may from time to
time agree upon to collect interest or income of the trust properties including
rent of any immovable property which may for
the time account of the Trustees with the Bank or Banks kept of the said
purpose.
39) REMUNERATION AND EXPENSES : No remuneration or fees will be paid
to the Trustees for attending the meeting of the Trustees or committee or
sub-committee thereof but the trustees shall
be paid actual travelling hotel and other out of pocket expenses incurred by
them in consequence of
their attendance at the meeting of the
Trustee or committee or sub- committee thereof and otherwise on the
execution of their duties of trustees or members of the committee or sub- committees as the case
may be.
40).RETIREMENT
OF TRUSTEE : If any of the Trustee shall at any time desire to withdraw
and be discharged from the trust hereof, he may do so by giving notice in
writing signed by himself/herself and given to the other Trustees and upon
giving such notice the Trustee so doing shall
cease to be Trustee
of this trust to all intends and purposes except as to the acts and deeds
necessary for the proper vesting of the Trust Properties in the remaining
or new Trustees or otherwise as the case
may be which acts deeds shall be done and executed at the expenses of the trust
funds.
41) RESPOSIBILITY
OF TRUSTEES : And further it is
hereby agreed and declared that the Trustee hereby appointed and every new trustee
to be appointed and the heirs , executors or administrators and assigns and each of them
shall be charged and chargeable
respectively only for such properties or
moneys as they shall respectively
actually receive by written by virtue of the trusts and powers hereby in them
repose and vested notwithstanding his or their giving or joining in signing any
receipt for the sake of conformity and one or more of them shall not be answerable or accountable or for
others nor for the acts, receipts neglects, defaults or omissions nor for the consequences of error whether of law or of fact on the
part of any of the trustees or their legal or other advisors , nor shall they
be responsible for the acts of their bankers or any their persons with whom or
in whose hands any part of the Trust moneys shall or may be deposited or lodged for safe custody or otherwise nor for
insufficiency or deficiency of any security or moneys in or upon which the trust properties or any part thereof shall be placed or
invested nor for any other loss misfortunes or damage which may
happen in the course of this trust or in relation thereto nor generally for any breach on trust
whatsoever unless it shall be proved to have been committed , given or omitted in personal
consciousness , bad faith of the Trustee charged to be so liable. And
accordingly and person claiming any beneficial interest in or over upon the properties
subject to this Trust shall be
deemed to take with notice of any
subject to the protection hereby
conferred on the Trustees & accordingly on the heirs of the
Trustees.
42). REIMBURSEMENT : All the trustees
and each of them shall be entitled of the money which shall come to their hands
by virtue of the aforesaid properties to retain and reimburse himself or
themselves respectively and also to pay and allow to his /her or their co-
trustees all costs, charged
and expenses which they or any them
shall pr may expend, disburse or be put to in the execution of any of the
aforesaid Trusts or in relation there to.
43). AUTHORITY OF SETTLORS TO TRANSFER
TRUST PROPERTIES : And the settlers for himself, his/her, heirs,
executors and administrators , convents with
the trustees that notwithstanding any act, matter or thing whatsoever
done, committed or suffered to be done by the settlers , the settlers at the time of setting apart and transferring
the said property or properties have
full power and authority to transfer and assign the trust property unto the
trustees upon the trust in the manner aforesaid and the Trustees shall and may
at all times hereafter hold the
Trust property and receive
interest and income thereof and apply for the same for the purposes of THESE PRESENTS as here in above
expressed without any let or claim from the Settler.
44) DISSOLUTION OF TRUST : It
is hereby agreed and settled that if the permanent trustees desire and decide about dissolution of this Trust ,
than in that event, all the properties ,assets, funds and monies shall be
disposed off and enchased/ liquidated in
terms of money and shall after paying off all the liabilities , any excess
shall be donated and given away to some other trust having similar objects as of this Trust.
45) LIABILITIES OF TRUSTEES: Every Trustee shall be liable for
the acts and deeds expressly to be done by him or her. It
shall be the responsibility of every retiring Trustee or the Trustee vacating his/her post for any reason to transfer the Trust property in the name of new Trustees or in the name of the board of Trustees as may, be decided by the Board of Trustees
shall be the responsibility of every retiring Trustee or the Trustee vacating his/her post for any reason to transfer the Trust property in the name of new Trustees or in the name of the board of Trustees as may, be decided by the Board of Trustees
IN
WITNESS WHEREOF the SETTLOR has set and subscribed his respective hands on
the day and the year aforesaid and the Trustees have set and subscribed their
respective hands here unto signify their agreement to and acceptance of the
Trust hereby created on the day year
stated herein above.
SIGNED
& DELIVERED by me )
Withinnamed “SETTLOR” )
____________________
SIGNED
AND DELIVERED BY THE TRUSTESS )
Withinnamed “TRUSTEES”
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