DECLARATION OF A TRUST FOR RUNNING A SCHOOL
THIS DECLARATION of Trust made at ………..the ………..day………..of………..20 ………..by ………..son of resident of………… (hereinafter called the author of the trust) in favour of Shri son of resident of ………………………………….Shri ……….. son of ……….. resident of and Shri……….. son of ………..resident of ……………………… (hereinafter called the trustees)
WHEREAS the Author of the Trust is desirous of establishing a school for the education and training of young girls of the residents of the town of ………..
AND WHEREAS the Author of the trust proposes to settle his properties and assets mentioned in the Schedule for the purpose of establishing the said school;
AND WHEREAS the trustees have agreed to be invested with the ownership of the properties and assets mentioned in the Schedule for giving effect to the wishes of the author of the trust.
NOW IT IS DECLARED BY THE AUTHOR OF THE TRUST AS FOLLOWS:
In pursuance of the premises, the Author of the Trust as beneficial owner of the properties and assets mentioned in the Schedule hereby conveys, transfers and grant unto the trust all and every such properties and assets mentioned in the Schedule and to hold the same in trust for the objects of trust as described below to be used and appropriated by the said trustees in order to carry on and fulfil the said objects in accordance with the directions of the Author of the Trust.
(2) The objects of the trust are as under:
(i)To establish, run and maintain an educational and vocation school for the girls exclusively and to develop the character and discipline amongst the students.
(ii)To establish, run and maintain a boarding house for the students.
(iii)To engage professors, teachers and instructors to impart education to the students in all subjects, physical training, culture, research work, intellectual and other useful pursuits.
(iv)To accept grants, donations, presents, gifts and offerings from the parents of the students and other persons and to deal with the same for the purposes of the trust.
(v)To invest, dispose off, transfer and otherwise deal with the properties and assets of the trust in such manner as the trustees may deem fit, for the attainment of objects of the trust.
(vi)To pay stipends and scholarships to the students on such , terms as the trustees may deem fit.
(vii)To do all other acts and things as may be necessary or conducive to the attainment of the above objects.
(3) The powers and duties of the Trustees are as under:
(i) The trustees will construct a school and boarding house on the land mentioned in Schedule in accordance with the plan
annexed.
(ii) The trustees will defray the expenses for running and maintaining the school and boarding house from out of the
income of the school and boarding house, but if the income of the school and boarding house is insufficient for meeting the expenses, the trustees may spend money out of the portion of the corpus of the trust fund as may be necessary.
(iii) The trustees will be empowered to borrow money for meeting the expenses for the purposes of the trust on the security of the trust properties and assets.
(iv) The trustees will invest the surplus fund in their hands in such securities as they deem fit.
(4)If any of the trustees becomes bankrupt, insolvent or found guilty by court of an offence involving moral turpitude or remains absent from India for a period of six months or resigns from his post, the remaining trustees will be entitled to appoint his substitute.
(5) The matters relating to the trust will be decided by the decision of the majority of the trustees.
(6)In case the trust fails for want of its objects or trust having become impossible of performance, the trustees will move the court for applying the trust fund for similar objects.
(7) The trustees will not be personally liable for any loss to the Trust property, unless the trustees are guilty of fraud.
(8) As long as the Author of the trust shall be alive and be able to act in the matter, he shall be one of the trustees and shall be entitled to preside over all the meetings of trustees.
(9)This trust is a public charitable trust and the assets and properties of the trust shall in no case revert to the author of the trust or his descendants or to any other person.
(10) The trust fund, including the corpus and the income there from, shall not be utilised for any other object except those of the trust hereby created
(11) For the purpose of stamp duty, the value of the trust properties and assets is Rs …………..
The Schedule above referred to
Annexure
IN WITNESS WHEREOF the parties hereto have signed this deed on the day and year first above written.
WITNESSES
1 Author
2 . Trustees