DRAFT FOR DISCUSSION PURPOSES ONLY
TRUST INDENTURE
his Indenture of Trust, executed at -on the day
of December, 1996, by and between , hereinafter called the
SETTLORS, and, hereinafter called the TRUSTEES:
WITNESSETH THAT:
The said Settlors in consideration of the sum of One Dollar and other valuable
considerations to them paid by the Trustees, the receipt of which is hereby acknowledged,
do hereby grant, convey, assign and transfer unto the said Trustees, their successors and
assigns, for the uses and purposes hereinafter recited, the property described in Schedule
A, hereto annexed and made a part hereof.
We create this trust and acknowledge that it is made possible due to the
magnanimity and foresight of our parents and grandparents,
and dedicate ourselves to preserving this legacy in the manner and in the spirit in which it
‘was nurtured by them in their time.
‘To have and to hold the said property unto the said Trustees, their successors and
assigns, IN TRUST NEVERTHELESS for the benefit of the beneficiaries listed on
Schedule B, hereto annexed and made a part hereof by reference, said beneficial interest
to be in the proportions so noted on Schedule B, for the uses and purposes herein set forth
and upon the trusts, terms and conditions following:
ARTICLEL: The Trustees shall hold, manage, care for, invest and reinvest the
property constituting the Trust hereby created upon the terms and conditions hereinafter
set forth
The Land and buildings located at constitule the major
assets conveyed to the Trustees under this Trust. It is the intent of the Settlors that this
real estate be maintained as long as feasible for the benefit of the beneficiaries named in
Schedule B! and their heirs and devisees. It is further intended that this trust shall govern
the operation and day to day use of the family real estate and provide a structure within
which potentially competing and conflicting views and desires can be amicably resolved.
" And as it may be revised from time to time,
FAMILY REAI