by barb findlay
1993
NOTE: This is an example for educational purposes only. It is not to be used as a legal precedent. For legal advice regarding an actual situation, please consult a lawyer.
trust deed
This Trust Deed was made the day of , 1993 between:
marguerite southland ("the Donor), of 1234 Main Street, Anytown, British Columbia
of the first part
and:
barbara haddad, peter michaelson and peter gilhoolly (the "Trustees") of Vancouver, British Columbia
of the second part
witnesseth as follows: 1. Definitions and Interpretations
In this deed, the following expressions shall have the following meanings:
a. the "Charity" means the charity which is set up under Section 3 of this deed.
b. the "Trustees" means and includes the Trustees or Trustee for the time being of this deed and "Trustee" means any one of the Trustees.
c. the "Trust Land" means the lands referred to in Section 2 and any other property which may be paid, transfered or conveyed to the Trustees at any time to be held by them on the charitable trusts set up under this deed.
d. unless the context otherwise requires, the singular includes the plural and the feminine includes the masculine and vice versa.
2. Recital
The capital deed Donor has conveyed the Lands, more particularly known and described as:
[Lot X District Lot Y Plan #]
to the Trustees to be held by them on the charitable trusts declared by this deed. It is contemplated that further money, investments and lands may be paid, transferred or conveyed to the Trustees to be held on the same trusts.
3. Name of Charity
The Charity established by this deed shall be called the happy valley land conservation and recreation trust.
4. Trust Fund
The Trustees shall hold the Lands in perpetuity in trust for the charitable objects set out in clause 5 below.
5. Objects of the Charity
The objects of the Charity herein are:
a. to hold the Lands in perpetuity for the benefit and enjoyment of the people of Happy Valley.
b. to maintain the Lands as a Ecological Santuary so far as possible preserving the natural habitat in the same state as it was at the date of its acquisition by the Trustees.
c. to construct trails through the Lands so that the members of the public may visit the Lands, but to do a minimum of damage to the natural habitat in the course of this construction of trails, and in no case to construct which would interfere with or have a deterious effect upon the animals who make the Lands their home.
d. to provide education to the public about the value of the Lands in particular, and the value of ecological reserves and conservation in general.
e. to protect the natural habitat by observing scrupulously the highest principles of land stewardship in the administration of the Lands.
6. Powers of the Trustees
In furtherance of the above object but not further or otherwise, the Trustees shall have the following powers:
a. to employ such persons, who shall not be Trustees, to do those duties that the Trustees consider necessary for the proper administration of the Charity, whether by contract of employment or contract for services or otherwise.
b. to raise funds by appearing for and inviting contributions by way of donation from residents of Happy Valley and of British Columbia, and to accept donations from any special trusts in connection with the administration of the Charity.
c. to acquire by way of purchase lease or donation, any property for use for the purposes of the Charity.
d. to sell, mortgage, let or exchange property or funds belonging to the Charity, except that the Lands may not be sold or otherwise encumbered.
e. to invest any funds in such investments as the Trustees in their absolute discretion think fit.
f. to make regulations from time to time for the administration of the Charity and for the management and conduct of the Trustee's business, including the summoning and chairing of meetings, the number of Trustees required to constitute a quorum, to deposit money at a proper bank and the custody of deeds, securities and documents.
7. Accounts
The Trustees shall keep a Minute Book and proper books of account and shall prepare consequtive statements of account consisting of an Income and Expenditure Statement relating to a period of not more than 15 months, and a Balance Sheet relating to the end of such period.
8. Banking
The Trustees shall maintain such banking for the Charity as they consider convenient and every sum received on account of the Charity shall be paid to the credit of such an account. All cheques or money orders written by the Charity shall be signed by at least two Trustees.
9. Trustee's Interest in the Trust Funds
No Trustee shall take or hold any interest in any property belonging to the Trust Fund otherwise than as a Trustee for the purposes of the Charity, and no Trustee shall receive remuneration or be interested in the supply of work or goods at the expense of the Charity.
10. Trustees' Indemnity
In the execution of the trusts and powers of this deed, no Trustee shall be liable for any loss to the Charity arising by reason of any improper investment made in good faith (so long as the Trustee shall have sought professional advice before making such investment) or any mistake or omission made in good faith by any Trustee, or any other matter other than willfull and individual fraud, wrongdoing or wrongful omission on the part of the Trustee who is sough to be made liable.
11. Failure of Trusts
In the event of the failure of the trusts of this deed, any asset remaining after satisfaction of the debts and liabilities of the Charity shall not be paid toward or distributed amoung the Trustees, but shall be given to such other charitable institution or institutions having objects similar to those of the Charity as the Trustees shall decide.
in witness whereof the parties have hereunto set their hands and seals this day of .
signed, sealed and delivered by marguerite southland in the presence of:
Name
Address
Occupation
signed, sealed and delivered by an Authorized Signatory for the Trustees, in the presence of:
Name
Address
Occupation
) ) ) ) ) ) ) ) ) marguerite southland ) ) ) ) ) ) ) ) ) ) ) ) Authorized Signatory ) )
) )