DEED OF TRUST FOR PRIZE TO BE AWARDED TO BRILLIANT STUDENTS
THIS DEED made this …………..day of…………..20 between A, son of…………..resident of …………..hereinafter called the Donor of the ONE PART and the University of …………..a body constituted under the ………..University Act, hereinafter called the trustee of the OTHER PART.
WHEREAS the donor is desirous of the advancement of legal knowledge and for that purpose wants to create a fund for the purpose of giving prize to the brilliant students in the manner hereinafter provided.
This Deed witnesseth that, in pursuance of the said desire, the Donor doth hereby convey and assign unto the trustee All and Singular the Government Securities of the value, denominations and numbers given and described in the Schedule hereto. To hold the same unto the trustee in perpetuity upon trust and with and subject to the terms, powers, and declarations hereinafter contained and, it is hereby declared that the trustee shall pay and discharge all expenses and charges incurred in or about the execution of the trust hereby declared or such expenses and charges as may be incidental thereto, from the interest, income and profits of the trust assets and shall apply the residue of such interest, income and profits in investment of securities as the trustee deems fit.
(2) The prize shall be called "The …………..Prize"
(4) The said prize shall be awarded to the student of University who secures the highest marks in LLB (Professional) Course every year of the said University: Provided that if the number of such students are more than one, each student will be awarded the prize separately. The name or names of the students getting prize will be announced at the University Convocation and shall be published in the merit lists published by the University.
(5) The trustee may sell the trust assets or any part thereof for the purpose of investing the sale proceeds in more profitable securities Provided that the trustee shall not invest in any security other than mentioned in section 20 of the Indian Trusts Act, 1882.
The Schedule above reefed to
IN WITNESS WHEREOF the parties have hereunto set their hands the day and year first above written.
WITNESSES Signed and delivered by the within named founder A
1 Signed and delivered by the within named Trustee,……………………..University through the hands of
2. Shri………….. Registrar its authorised official